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Debate: Fraud Model Risk Governance
04 Dec 2024
- How are banks developing effective model governance and controls to keep up with the ever-evolving landscape of criminal activity in fraud?
- What are the key components and considerations for firms when developing a robust model life cycle?
- How are banks implementing rigorous model validation, and how do they ensure that certain biases are not built into internal models? To what extent does bias affect model validation?
- Which metrics should banks be implementing to ensure sound performance measurement and mitigate the number of false positive alerts, especially within rules-based systems?