2023 Fraud Series

All payments have risk and a potential for loss due to risk mismanagement and fraud! With payments moving faster than ever before along the RTP network, the FedNow Service, and other avenues, how have those risks evolved or changed? Are there new danger zones? Are there new ways to address this risk? Will faster payments equal faster fraud? Will fraud increase with the release of a faster solution? Learn the answers to these questions and more while building a risk-management program for a faster payment solution.

Fraudsters have a knack for keeping up with the latest payments trends. As use of mobile remote deposit capture (RDC) continues to rise, it’s not surprising that old-school check fraud is circulating with new RDC tricks. Join us to discover how fraudsters are using mobile RDC services to perpetrate check fraud. You’ll learn about current RDC scams and common risks involving check fraud and duplicate items. Find out how to appropriately handle fraudulent and duplicate RDC items after the check-return timeframe has lapsed and walk away with loss prevention tips.

Accountholders continue to fall victim to the ever-evolving scams and schemes targeting them daily. "You've won a foreign lottery!" "Get paid big money to work from home." "You qualify for a $50,000 LOC; just pay $8,000 in closing costs!" You've likely heard it all! This session will address the latest scams consumers face and how to recognize the red flags. It will walk through the process of identifying fraud and talking to accountholders when you believe they've fallen victim to a con. Tools and resources will be provided to make those conversations go a little easier. You’ll also learn procedural best practices for responding to fraud and suspected identity theft and be instructed on when, how, and to whom to report fraud.

The Financial Crimes Enforcement Network (FinCEN) issued an advisory to alert financial institutions to the rising trend of elder financial exploitation (EFE) and to highlight typologies and red flags new since the first EFE advisory in 2011. FinCEN also issued this advisory in support of World Elder Abuse Awareness Day, which has been commemorated on June 15 every year since 2006 and provides an opportunity for communities around the world to promote a better understanding of abuse and neglect of older adults by raising awareness of the related cultural, social, economic, and demographic factors. According to the U.S. Department of Justice, elder abuse, which includes EFE among other forms of abuse, affects at least 10 percent of older adults each year, with millions of them combining to lose more than $3 billion to financial fraud annually. Attend this important webinar to learn more.