Home Mortgage Disclosure Act (HMDA) Reports - Meeting Regulators: Expectations - Tools and technique to reduce errors

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 Banks cannot combat the fraud industry with outdated methods.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. Like in a game of chess, the advantage goes to the side that thinks the most moves ahead.

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. Additionally, some of the key learning objectives of the course are to detail:

• The changes in the fraud arena.
• The techniques that are most important today.
• The fraud-breaking mindset which will serve you well going forward.

Areas Covered in the Webinar:

• Reasons for focus on fraud: it is not just the money, its reputation
• Current fraud issues, trends and emerging threats
• 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
• Best practices: eight points where fraud can be addressed by a bank
• The importance of analysis, learning and improving
• Strengthen risk ratings and rule parameterization
• Identify new techniques and design new strategies
• Optimize across channels, products, and geography
• Four ways to add value to your bank

Who Will Benefit:

This webinar will provide valuable assistance to all personnel in any role in addressing fraud in banks. This includes:

• 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

Instructor Profile:

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.

Topic Background:

Recent massive data exposures have put the spotlight on fraud risks to banks, merchants, and personal banking customers. Fraudsters are always looking for new opportunities and new weaknesses. The availability of customer data on the black-market gives them new power tools to use to enrich themselves. Consequently, fraud is of more concern to banking leaders today than ever before. This is driven by national media coverage, actual dollar losses, the attack on trust (which is key to customer relationships), costs to allay customer concerns, changing regulatory environment, and changes in how fraud efforts are being organized. Fraud is no longer just a cottage industry, it is moving to an industrial model where specialists steal data and sell it to others who organize high-volume attacks by multiple perpetrators.

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