Fraud: Creating a Fraud program and implementing it for your institution

Feeling vulnerable when it comes to staying on top of the latest scams and schemes? You're not alone - new risks are hurled at financial services every day! It's impossible in 2024 to check news from any source without reports of skyrocketing fraud and financial crime. Whether from traditional sources like robbery, check fraud, or identity theft, or from innovative cybercrimes that infiltrate your bank systems without being seen or heard, today's fraudsters are taking things to a whole new level! With the positives of technology advances also come more tools allowing scam artists to evade detection. The bad actors seem always to be one step ahead of the industry in figuring out new ways to fool banks and their customers for their nefarious purposes.

After attending this session, you will be able to:

• Identify the key elements of a fraud prevention program
• Design and tailor a fraud program that fits the size, scope, and complexity of your institution
• Deploy reliable methods for staying on top of new fraud schemes and emerging risks
• Build monitoring and testing regimens that identify and correct program weaknesses

• Introduction to Fraud
• Current Fraud environment
• Recent guidance from FinCEN and other regulatory agencies
• Creating a fraud program
• How to be prepared and handle incidents 
• Tips and other thoughts

You need a strong and flexible fraud management program that helps your institution get - and stay! - safe and secure. Learning the principles of sound fraud management, especially in a community bank setting, is essential. If you've been frustrated by sessions geared to the risks at giant, global banks and are looking for something tailored to you, you've found it here.

Anyone involved in creating or monitoring a fraud program.

Justin brings over 20 years of wide-ranging experience in compliance, training, and regulation in the financial services sector. Most recently, he served as Head of Compliance Training at Bank of China, where he led the compliance training function and created and monitored the annual training plan through a thorough training needs analysis. Previously, he served as Macquarie Group’s Head of Americas Compliance Training and J.P. Morgan Chase’s compliance training manager. He also worked for FINRA, a US regulator, where he created Examiner University to train examiners on how to perform their function.