Speaker 1: Across the globe, there's very different flavors to legislation across payments and risk, as well as very different regulatory needs across different countries. On top of that, different criminal organizations operate in particular manners with different attack vectors. So, how do you, as a financial organization, know that you are doing the right thing and you have the right risk strategy in place to ensure that you are reducing losses as well as reducing friction to your customers? My name is Salo Martins and this is your Fidzai Fraud and Financial Crime Update. We have a lot of experience opening new markets and going into new countries. And if we're talking about a country like Belgium, a lot of the regulation will be similar to other countries we operate in, from Portugal, Netherlands, Spain, France. Because, end of the day, a lot of the EU regulation is partially normalized. Stuff like PSD2, so some of the challenges will be quite similar. Instant transfers, even though in Belgium they might be different from the US, they will have similar type of risk patterns and similar type of attack vectors. There's different levels of best practices. First of all, it's at organizational level. How should you organize your fraud teams? How should you organize your technical teams? How should you operate a fraud product in general? And for this, the split is not as much geography, but it's to do with the size of the organization itself. So smaller organizations will have some type of best practices. Very big organizations will have other needs and other type of best practices. But we've worked with both type of organizations in the past and we can transport some of the learnings and pitfalls and our recommendations in terms of organizational structure. Number two is at the technology level. Meaning that we know from a technology perspective what you should have in place to be resilient, quick to evolve your risk strategy because fraudsters don't stop. Fraudsters will change their methods and their mechanisms very fast. End of the day, I'm talking about fraud, but it can be risk strategy, it can be AML. Then the last piece, best practices from a market knowledge perspective. What are the type of payments that we have in that market? What is the risk patterns that we see in that market? We typically have SMEs on our team that attend webinars, conferences. We have SMEs from different parts of Europe, in the US, in Brazil, in IPEC. And these people will have multiple years of experience in the market, but they will also be constantly trying to evolve their knowledge on what is the main concerns of the industry from a fraud and risk perspective. Some of the knowledge is transferable from country to country. You will always have the, I would call it the dumb fraudster, but there's likely another name for it. But the fraudster that gets a bunch of cards and just tries those cards out and goes to a gambling website or goes to buy resellable goods. So these type of patterns we can translate for sure from one country to the others. What we do then is a lot of database decisions with the customer's data. We can see how the patterns that we know apply to that data, maybe fix some thresholds on the behavior of that data. But also then we leverage some of the customer's knowledge because we know a lot about fraud and we have a lot of customers in different areas, but they know a lot about their business. And each business is very specific and they have their own customer segments they work with. So, of course, to complement what we've discussed, the customer's knowledge will be very important. What sort of challenges and concerns do you face in your regions? Let us know in the comments below. Thanks for watching. This is your Feeds I Fraud and Financial Crime Update. Thank you.