Tracking Retail Loan FraudExperts Talk About the Unique Challenges
Although corporate loan fraud gets all the attention, fraud risk managers need to address retail loan fraud as well. Rajaram Manian, head, credit, risk and policy at Adani Capital and Sanjay Athalye, director at Lender Mentor, discuss the challenges.
"Different frauds have different intent," Manian says. "Fraud is not limited to getting a financial gain. It is larger than that. It can be data capturing of your competition, technology know-how, etc. The fraud scope has become very large."
Athalye adds: "In terms of technological development, the industry has advanced a lot. Video conferencing tools, credit bureaus, though of recent origin in India, give a lot of information about customers. By the use of ML there is a good amount of predictability of customer behavior."
In this video discussion, the two experts address:
- The unique problem of retail load fraud in India;
- Tools to be leveraged for retail loan fraud;
- Why digitization of fraud unit is important.
Manian is head, credit, risk and policy at Adani Capital. He has more than 21 years experience in retail and wholesale credit risk management, enterprise risk management and fraud risk management. Prior to Adani, he was the chief risk and compliance at Motilal Oswal Home Finance.
Athalye is director at Lender Mentor. Prior to this, he was MD and CEO of Motilal Oswal Home Finance Ltd. He was also the chief risk officer at Indostar Capital Finance.