The AI in Business Podcast Evolving Expectations in Fraud and Risk Response from Dispute to Detection - with Naveen Kumar of Walmart
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Jun 9, 2025 Naveen Kumar, Director of Financial Crimes at Walmart and a former PwC fraud specialist, dives into the evolving landscape of fraud. He discusses the blurred lines between customer errors and criminal intent, highlighting the rise of personalized fraud during digital interactions. Kumar explains how Walmart's team uses advanced AI and automation to bolster fraud detection while maintaining customer trust. He also shares insights on leveraging dispute data as a proactive measure and adapting strategies to stay ahead of increasingly savvy fraudsters.
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Fraud's Expanding Definition
- Fraud is expanding beyond stolen identities to include app misuse, social engineering, and policy exploitation.
- Fraud often mimics legitimate behavior, blurring lines between error and intent.
Holistic Fraud Detection Strategies
- Fraud teams must analyze holistic behavior and cross-channel activities, not just individual transactions.
- Combining supervised and unsupervised algorithms improves fraud detection controls.
Separate Disputes from Fraud
- Separate dispute handling from fraud detection to spot early indicators of fraud.
- Use disputes and chargebacks as clues rather than just customer experience issues.