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The Alarming State of Wire Transfer Fraud

Summary

  • Red flags of the most common forms of wire transfer fraud, including:
    • Advance fee frauds
    • Account takeover
    • Romance scam
    • Grandparent scam
    • Phishing And more
  • Security expert findings on the techniques criminals use to initiate these frauds (i.e. data harvesting, data breaches, etc.)
  • Incorporating wire transfer fraud into your organization’s risk assessment
  • Tips
    • To educate consumers
    • How the frontline/customer service/account officer can help
    • Handling requests you suspect are fraudulent/ a scam
  • Valuable resources for staff

Overview

Wire transfer fraud has often rendered businesses and financial institutions helpless despite their best efforts to combat the threat. This training program will identify the red flags of common forms of wire transfer fraud and help understand how you can isolate your organization and help combat fraud. The webinar instructor will also review sound risk assessment practices to help minimize exposure.

Who should attend?

  • Frontline/Customer Service Personnel
  • Internal Auditors
  • Risk Officers
  • Director of Security
  • Compliance Professionals
  • Operational Risk Professionals
  • CFO/Finance Professionals
  • CPAs
  • Audit Committee Members
  • Operational Risk Managers
  • Departmental Managers
  • IT
  • Fraud Investigators
  • Trainers
  • Branch Managers
  • Wire Transfer Processors

Gina J. Lowdermilk

Expert

Dr. Gina J. Lowdermilk,PhD (ABD), CAMS, CRMS is a highly experienced and educated BSA/AML and Financial Regulatory Compliance professional with extensive policy and procedure development and implementation, training, internal audit, monitoring, risk management, and reporting experience. Her emphasis has been working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders. Her 15 years of experience has given her the opportunity to work from small community banks to large, international financial institutions. Her roles not only included BSA/AML and Compliance, but also operations, lending services, business development, marketing, management, department development, and asset quality.

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