Fraud Management & Cybercrime , Mobile Payments Fraud , Social Engineering

Identifying Social Engineering Fraud Trends

Vaibhav Khandelwal of F5 on Recent Fraud Trends in Banks in Bangladesh
Vaibhav Khandelwal, security and fraud lead, Asia-Pacific, China, Japan, F5

Banks need to build a good risk posture mechanism rather than continue with traditional handling mechanisms, says Vaibhav Khandelwal, security and fraud Lead, Asia-Pacific, China, Japan at F5.

See Also: Panel | Payments Without Borders: Prevent Fraud and Improve the Customer Experience

"What we are seeing now is that how credentials are being stolen or being harvested at scale. Organizations need to have a view of how the login attempts are happening on the banking side," says Khandelwal. "Is login attempt happening with actual customers common to the site, or are they coming in from any kind of automation effort. And that is really distinguishing between some of the better risk postures and risk management practices as compared to some of the traditional practices," says Khandelwal.

In a video interview previewing an upcoming virtual executive roundtable, Khandelwal also discusses:

  • Recent banking fraud trends in Bangladesh;
  • How banks can leverage ML to counter threats from fraudsters;
  • How enterprises can spot red flags indicating sophisticated attacks.

Khandelwal works at the intersection of banking and technology. At F5, he looks after business growth for ASEAN and the South Asia region. He previously held roles in cybersecurity, digital banking transformation, fraud prevention and risk management.

About the Author

Suparna Goswami

Suparna Goswami

Associate Editor, ISMG

Goswami has more than 10 years of experience in the field of journalism. She has covered a variety of beats including global macro economy, fintech, startups and other business trends. Before joining ISMG, she contributed for Forbes Asia, where she wrote about the Indian startup ecosystem. She has also worked with UK-based International Finance Magazine and leading Indian newspapers, such as DNA and Times of India.

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