Best Practices to Prevent Fraud: Understanding the Trends, Threats and Strategies
Instructor:
Jim George
Product ID: 704782
- Duration: 60 Min
Fraudsters are always looking for new opportunities and new weaknesses. The availability of customer data on the black-market gives them just the tools they need. A bank has responsibilities to its shareholders and customers to protect them from these ever-changing threats.
This webinar will furnish attendees with a complete understanding of the changes in the fraud arena and the strategies needed to combat fraud.
Why Should You Attend:
There are reasons to believe that fraud losses are actually higher than recognized. Banks cannot combat the fraud industry with outdated methods. Some fraud losses are buried in card interchange fees. A significant amount of fraud losses likely get reported in banks’ accounting as credit losses. But they weren’t due to poor credit decisions; they were fraud scams from day-one.
Software is widely installed to identify specific patterns and unusual transactions. But fraudsters know this and are constantly striving to create new patterns where their transactions are designed not to be flagged.
This webinar will discuss current fraud issues, trends and emerging threats. The instructor will highlight eight best practices through which fraud can be addressed by a bank.
Learning Objectives:
- What is changing in the fraud arena
- What techniques are most important today
- What fraud-breaking mindset will serve you well going forward
Areas Covered in the Webinar:
- Reasons for focus on fraud, it is not just the money.
- Two step process: Identity and Execution
- Specific Identity aspects of frauds
- Payment systems issues (check image, ACH growth)
- Credit issues (cards and loans)
- Centralizing financial crime responsibilities
- Eight points where fraud can be addressed by a bank
- Four ways to add value to your bank
Who Will Benefit:
- Retail banking leaders
- Risk and compliance officers
- Loss control managers
- Employees designing fraud controls
- Employees involved in detecting fraud attempts
- Staff who manage the investigation of fraud alerts
- Personnel who analyze fraud losses
- Personnel who use advanced fraud detection systems
Jim George
Independent consultant, George Consulting LLC
Jim George is an independent consultant to banks focusing on issues of fraud. He has over 25 years’ experience as a consultant to major banks in associate partner and principal roles at PriceWaterhouse-Coopers Consulting, IBM Consulting in Bank Risk and Compliance, and Andersen Consulting (now Accenture). He has also been SVP Operations for a Fortis-US division providing outsourcing services to the banking industry.
His work includes projects in fraud investigation, fraud prevention, identity issues, compliance, and AML (anti-money laundering). Mr. George’s background also includes work in bank operations and payments strategy, reengineering, systems, and quality improvement.
More Training By Experts
- BSA/AML Recent Developments and Compliance
- Home Mortgage Disclosure Act (HMDA) Reports - Meeting Regulators: Expectations - Tools and technique to reduce errors
- AML, SOX and Licensing Controls Failures - Detection, Prevention and Risk Mitigation Strategies
- Identity Issues in Banking - After the Breach, 26 Red Flags and More
- AML High-Risk Transactions - Identify, Manage and Resolve
Refund Policy
Our refund policy is governed by individual products and services refund policy mentioned against each of offerings. However in absence of specific refund policy of an offering below refund policy will be effective.
Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange. Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time. On-Demand Recording purchases will not be refunded as it is available for immediate streaming. However if you are not able to view the webinar or you have any concern about the content of the webinar please contact us at below email or by call mentioning your feedback for resolution of the matter. We respect feedback/opinions of our customers which enables us to improve our products and services. To contact us please email [email protected] call +1-888-717-2436 (Toll Free).
