As you know, the Federal Reserve’s Fraud Definitions Work Group has been working over the past several months to create a Fraud Classification Model for Payments (Model) for broad industry adoption. As an experienced payments professional, your voice and the voice of your industry peers will be extremely valuable in helping the Federal Reserve and Fraud Definitions Work Group members understand how the industry applies the current Model when presented with real-life payments fraud scenarios. This exercise will help us also identify potential opportunities for further clarification of the Model.
To ensure you are properly prepared to take the survey, please read the Overview of the Model, which provides additional background on the intent of the Model and walks through both the approach and the construct itself. This overview is also accessible from within the survey itself for your convenience.
After you have reviewed the overview document, please take the survey, linked below, by 11 p.m. CT on September 30, 2019. We anticipate the survey will take approximately 20 to 30 minutes for you to complete.
If you are unfamiliar with the progress of this effort, please watch the following short video which will educate you on the work group’s efforts, the Model, and also walk through an example of a question you will encounter while taking the survey.
Fraud Classification Model for Payments Overview:
Thank you in advance for your participation in this survey. For any questions, please reach out to FedPaymentsImprovement@chi.frb.org.