Bank Best Practices to Prevent Fraud
OVERVIEW
Bank Best Practices to Prevent 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), and 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. Banks cannot
combat the “Fraud Industry” with yesterday’s methods.
There are reasons to believe that fraud losses are actually
higher than recognized. 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 the 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.
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| Financial Compliance |
WHY SHOULD YOU ATTEND
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. A bank has responsibilities to its shareholders and
customers to protect them from these ever-changing threats.
AREAS COVERED
This bank compliance training will cover the following areas:
- Reasons for focus on fraud, it is not just the money.
- Specific Identity aspects of frauds
- Payment systems issues (check image, ACH growth)
- Credit issues (cards and loans)
- Centralizing financial crime responsibilities
LEARNING OBJECTIVES
- Eight points where fraud can be addressed by a bank
- Four ways to add value to your bank
- Two step process: Identity and Execution
WHO WILL BENEFIT
- Retail Banking Leaders
- Risk and Compliance Officers
- Loss Control Managers
- Fraud and Financial Crimes Departments
For more detail please click on this below link:
Email: support@trainingdoyens.com
Toll Free: +1-888-300-8494
Tel: +1-720-996-1616
Fax: +1-888-909-1882
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