To effectively perform real-time assessment on these aspects, many companies use the latest technological applications. Fraud detection systems use real-time transaction risk scoring algorithms to identify questionable purchases or payments. These systems consider transaction details, user profiles, behavioral biometrics, geolocation, IP/device metadata, account information, and more.

The advancement of artificial intelligence and machine learning are also aspects that have advanced our ability to perform real-time risk assessments. We discuss these concepts and how they are used. This course focuses on step one and two when performing a real-time fraud risk assessment. Those steps include:

  • Step One - Planning
  • Step Two - Identifying Risk

Future courses will cover the remaining steps in the process.

This course is a continuation in our series on Fraud Trends for the Future. Within this course we discuss the importance of performing a real-time risk assessment. We also discuss the many variables that are involved in this process and how they should be considered. Other courses in the series include:

˃˃ Fraud Trends for the Future – Automation and Machine Learning
˃˃ Fraud Trends for the Future – Examining Account Takeovers
˃˃ Fraud Trends for the Future – Targeted Attacks
˃˃ Fraud Trends for the Future – Understanding Synthetic Identities
˃˃ Fraud Trends for the Future – Mitigating Synthetic Identities
˃˃ Fraud Trends for the Future – Digital Payments

Course Series

This course is included in the following series:

7 CoursesFraud Trends for the Future

  1. Fraud Trends for the Future - Examining Automation and Machine Learning
  2. Fraud Trends for the Future - Understanding and Addressing Account Takeover
  3. Fraud Trends for the Future - Digital Payments Fraud
  4. Fraud Trends for the Future - Mitigation Methods for Synthetic Identities
  5. Fraud Trends for the Future - Understanding Synthetic Identities
  6. Fraud Trends for the Future - Need for Real-time Risk Assessment - Part one
  7. Fraud Trends for The Future - Targeted Attacks and Payment Management
Learning Objectives
  • Explore and evaluate Fraud trends for 2023 and beyond.
  • Discover and define a Fraud Risk Assessment.
  • Identify components of a Fraud Risk Assessment.
  • Discover and define a real-time Fraud Risk Assessment.
  • Explore and examine methods for Step one and two of the Risk Assessment - Planning and Identify Risks.
  • Recognize and review of remaining steps to be detailed in another segment of this series.
Last updated/reviewed: March 6, 2024
10 Reviews (66 ratings)

Reviews

5
Anonymous Author
Great course on fraud trends and overview of creating a real-time risk assessment. Looking forward to taking the other fraud courses referenced in this one.
5
Anonymous Author
The Fraud Trends for the Future class was beneficial, because we deal with fraud in the work place, and want to try and prevent it from occurring.
5
Anonymous Author
Great explanation of Fraud Risk Assessment., components of a Fraud Risk Assessment, and Steps one and two of the Risk Assessment.
5
Member's Profile
Well covered discussion of the need for real time risk assessment given the rapid changes occurring in society.
4
Anonymous Author
I like that this course guided me to different ways which fraud can be committed and how to prevent them.
5
Anonymous Author
Another very good overview of the topic, taught in a logical order and in an easy to grasp way.
5
Anonymous Author
Another excellent course by Lynn Fountain. Interesting and informative. Thank you!
3
Anonymous Author
good overview of introduction to fraud trends and the real time risk assessment
5
Anonymous Author
Clear and concise steps in understanding and planning your risk assessment.
4
Member's Profile
Fraud Trends for the Future - Need for Real-time Risk Assessment - Part one
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Fraud Trends for the Future – Need for Real-time Risk Assessment Part one3:24
  Top Fraud Trends in 2023 and Beyond4:30
  Fraud Risk Assessment15:54
  Components of A Fraud Risk Assessment5:38
  What is Real Time Fraud Risk Assessment5:02
  Step 1 and 2 in Real Time Fraud Risk Assessment7:40
  How to Identify Risks10:02
  Machine Learning and AI for Fraud Detection and Step One in a Real Time Risk Assessment5:23
  Big Data and Deep Analytics in Step Two of a Real Time Fraud Risk Assessment14:08
  Summary1:00
CONTINUOUS PLAY
  Fraud Trends for The Future - Real time Risk Assessment part 11:12:41
SUPPORTING MATERIAL
  Slides: Fraud Trends for the Future – Need for Real-time Risk Assessment Part onePDF
  Fraud Trends for the Future – Need for Real-time Risk Assessment Part one Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam