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.

How the New UK Fraud Strategy Targets Scams

Suparna Goswami • May 23, 2023

The U.K. government earlier this month introduced a strategy to reduce fraud and scams called Fraud Strategy: Stopping Scams and Protecting the Public. Ken Palla, retired director of MUFG Bank, said this as an important step to combat authorized scams, which have now eclipsed unauthorized fraud.

Privacy Landscape in Asia: GDPR Influence, Lean Resources

Suparna Goswami • May 9, 2023

As many countries in APAC are coming out with their own privacy laws, the region is fast becoming the epicenter of data protection developments around the globe, said Raymund Liboro, former commissioner and chairman of the National Privacy Commission, Philippines.

How Banks Can Control Fraud With FedNow Instant Payments

Suparna Goswami • April 21, 2023

The Federal Reserve's FedNow Service will launch in July this year. Many banks, including community banks, will be able to leverage FedNow as an instant payment platform. How can these banks prepare for faster payments, and what security controls should they consider adding?

Will Customer Refunds for Scams Trigger First-Party Fraud?

Suparna Goswami • March 30, 2023

The U.S. Consumer Financial Protection Bureau is mulling over whether to reimburse consumers for online scams and fraud, but this regulatory change could lead to an increase in first-party fraud, cautioned Karen Boyer, senior vice president of financial crimes at M&T Bank.

Online Card Fraud Flourishes, Thanks to the Magnetic Stripe

Suparna Goswami • March 23, 2023

EMV chip technology has taken a major bite out of credit card fraud at the point of sale, but card-not-present fraud continues to flourish thanks to an age-old technology - the magnetic stripe, says Mark Solomon, international president, International Association of Financial Crimes Investigators.

Why Fraud Continues to Dominate Faster Payments

Suparna Goswami • March 1, 2023

Faster payment technology has been around for years, but fraud continues to dominate the conversation, says Reed Luhtanen of the U.S. Faster Payments Council. Luhtanen says all payment systems have a fraud problem, and firms will be able to curb faster payment fraud with more experience and data.

How to Fight Check Fraud: Look Beyond Technology

Suparna Goswami • February 24, 2023

Tools such as image analysis are of little help to banks dealing with check fraud since, most of the time, checks that are deposited are legitimate, says Karen Boyer, senior vice president for financial crimes at M&T Bank. She says the best way to deal with this fraud is to closely monitor accounts.

New Tools and Integration Are Detecting Check Fraud Faster

Suparna Goswami • February 20, 2023

The false positive rate for detecting check fraud typically is very high because it's such an analog process. To detect fraudulent checks faster, banks need to pair their legacy detection capabilities with image analysis solutions, says Trace Fooshee, strategic adviser with Aite-Novarica Group.

What's the Best Approach to Tackle First-Party Fraud?

Suparna Goswami • February 14, 2023

First-party fraud is all about intent and banks have to determine whether the person carrying out the transaction is doing it intentionally. That's hard to do for a basic binary decision model, says Steve Lenderman, senior vice president/director of global loss prevention and fraud, BM Technologies.

Check Fraud: An Easier Route for Fraudsters?

Suparna Goswami • February 9, 2023

Improved credit card security has forced fraudsters to look for other channels, and check fraud is proving to be an easier route for them, says Michael Diamond of Mitek Systems. Even worse, new technologies are enabling fraudsters to develop even better counterfeit checks.

Leveraging AI for EDR Solutions

Suparna Goswami • February 7, 2023

The aim of AI in EDR solutions is to streamline the process to ensure humans are able to consume and understand the data in order to respond well, says Serge Woon, worldwide tech sales leader and co-founder at ReaQta, part of IBM. In this roundtable preview, he explains why AI is so crucial to EDR.

Check Fraud: What Hurdles Are Facing Banks?

Suparna Goswami • February 6, 2023

Banks are losing hundreds of millions of dollars a year to check fraud - if not more, says David Maimon, professor of criminal justice and criminology at Georgia State University. The major hurdle facing banks is that they are not able to share information with each other about fraudulent checks.

New Technologies to Tackle Authorized Payment, Zelle Scams

Suparna Goswami • January 16, 2023

Authorized payment scams are growing, and regulators, lawmakers and banks are taking note. As some banks look at ways to reimburse customers for Zelle scams in 2023, experts expect technology vendors to focus on creating new solutions to detect scams and prevent such payments from being made.

Check Fraud, First-Party Fraud to Rise in 2023

Suparna Goswami • January 10, 2023

Check fraud, first-party fraud and AI-related fraud will increase on a massive scale in 2023, thanks in large part to growing insider threats and the global economic slowdown. Frank McKenna, chief fraud strategist at Point Predictive, explains how banks can prepare to tackle these types of scams.

Why Banks Find It Hard to Tackle Authorized Fraud

Suparna Goswami • January 5, 2023

Authorized payment scams are on the rise, and banking regulators are putting pressure on financial institutions to do more to protect customers. The biggest challenge is that the customers are driving the process, says Bradley Haacke, vice president and financial crimes director at Fifth Third Bank.