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I'm sure whatever product you worked on had all of the features you've described. I'm skeptical that the primary purpose of those features was fraud prevention
by elliekelly 7y ago
I'm sure whatever product you worked on had all of the features you've described. I'm skeptical that the primary purpose of those features was fraud prevention rather than data mining. I'm quite certain none of those features are required by law.
- steventhedev 7y agoI've yet to see any law that requires a specific feature. Usually they're worded like "has a control for preventing unauthorized access to accounts". The definition of unauthorized, access, accounts, and even control are left to auditors and each bank defines them differently. I spent 2 months implementing something with absolutely zero security value, but the bank's auditor was insisting so we had no choice. I don't remember any data mining projects that weren't explicitly anti-fraud, but that was years ago and things may have changed since. One project I recall was able to proactively reach out to banks and inform them of compromised accounts based on things we learned from other banks. Pretty cool stuff; kinda wish I had stayed there longer.