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Best Practices to Prevent Fraud: Understanding the Trends, Threats and Strategies

90 Minutes

Recorded Webinar

OVERVIEW

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.

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 Banks cannot combat the fraud industry with outdated methods.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 gets 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.

AREAS COVERED

  • What is changing in the fraud arena
  • What techniques are most important today
  • What fraud-breaking mindset will serve you well going forward
  • 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.
  • 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
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All Access Pass Benefits

$999 per year

  • Access to 12 Live Webinars per year
  • Access to 12 On-Demand Webinars per year
  • All Live and On-Demand webinars include certificates, printable presentation material and handouts
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Speaker

Jim George's Avatar

Jim George

AML Expert

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.