OBIE Launches Free Tool to Fight Open Banking Fraud
OBIE Launches Free Tool
The Open Banking Implementation Entity (OBIE) has launched a new online tool to help firms prevent and fight open banking fraud.
The Counter-Fraud Maturity Self-Assessment tool has been collaboratively developed by the OBIE Security & Fraud Working Group, Accenture, Cifas, the University of Portsmouth Center for Counter Fraud Studies and the Cabinet Office Fraud, Error and Debt Team.
The tool, freely available to all firms enrolled in the OBIE Directory, enables open banking companies to assess the maturity of their fraud defenses and seeks to further strengthen the resilience of the open banking ecosystem.
Key benefits of the tool outlined by the OBIE include:
A point-in-time visual snapshot of a firms’ fraud control maturity
The identification of areas of potential risk that may not have previously been considered
Users can track the evolving maturity of their counter-fraud defenses
taking proactive, preventative steps to protect their businesses and their customers, she added.
“By gaining a better awareness of their own risk profiles, also firms can feel confident that they have robust