Fraud Symposium

Fraud Symposium Agenda  

Tuesday, March 16, 2021   |  8:00 am - 3:00 pm PT

Continuing Education Available:
6.0 AAP |  6.0 APRP  |  3.0 NCP

Fake Person, Real Losses: Combatting Synthetic Identity Fraud 

8:10 - 9:00 AM PT

New cyberattacks and data breaches are occurring at an alarming rate, with extensive personally identifiable information (PII) exposed every year. Industry reliance on these data elements to authenticate identities created an opportunity for fraudsters to commit synthetic identity fraud –  a crime where hackers create identities using real and fake PII in order to access credit, make high-value purchases, then ‘bust out’ without paying. The Federal Reserve investigated this emerging threat, produced a series of Payments Fraud Insights white papers on the topic, and convened fraud experts to develop an industry definition to track this phenomenon. Join Mike Timoney, Vice President of Secure Payments at the Federal Reserve Bank of Boston, to learn more about how and why these synthetic identities are wreaking havoc for the industry, how the definition will bolster industry efforts to collectively combat this fraud, and what steps you can begin to take to protect your organization.

Mike Timoney, VP of The Federal Reserve Bank of Boston

Money Doesn’t Always Buy You Love: Romance Scams and Their Investigations

9:00 - 9:50 AM PT

Case Study on a recent romance scam investigation. Will discuss how the financial institutions played a role and how the scammer was apprehended by the Secret Service.

Presented by: Richard “Kevin” Moore, TSA, San Francisco Field Office, Department of Homeland Security

Work Smarter, Not Harder: Fighting Financial Crime with AI

10:00 - 10:50 AM PT

Historically, financial services organizations (FSOs) have separated their fraud prevention and anti-money laundering (AML) efforts – whether it be by team structure, investigations or tools. With the rise of faster payments and digital banking, fraud and money laundering activities are intersecting more often than not. The NICE Actimize Xceed team will showcase how AI is helping Fraud & AML analysts collaborate to detect, investigate, and report proactively on these illicit activities.

Presented by: Eric Tran–Le, VP, Head of Actimize Premier, NICE Actimize

Insight into Criminal Activity!

12:00 -12:50 PM PT (Breakout Session)

This presentation will discuss three different financial crime trends impacting FI's today.  The first case involves over 50 U.S. FI's who lost over $14 million dollars by an organized crime group in Europe.  The Case was coordinate through Europol and USSS.  The second case is about card cracking, social media, and false reporting of losses, the last topic will be about what FI's can expect this year on Ransomware and the need for FI's to help educate their small business on prevention and responses. 

  Presenter: Kale Nelson, Special Agent USSS           

  Presenter: John McCullough, CFE, CPP President, FRPA

Finding Financial Friendly Fraud

12:00 -12:50 PM PT (Breakout Session)
Friendly Fraud has expanded more than just a chargeback when a refund could and should have been done through the merchant. Refunders, synthetic ID schemes, identity theft schemes, business loan fraud, money mules, and insider fraud are all new forms Friendly Fraud. Preying on fearful, desperate, naive, and many times innocent individuals. This session will look at the different types of recent Friendly Fraud schemes. And how financial institutions must find new ways to detect and prevent their customers and themselves from being a part of a financial crime.

Presented by: Nanci McKenzie, AAP, APRP VP, Compliance and Business Relationships, Affirmative Technologies

Working Together to Fight Fraud

1:00 - 1:50 PM PT (Breakout Session)

What types of fraud is FRPA and our members seeing?  It is amazing that many of the old scams are back with a twist.  Check washing and check scams are on the rise.  ATMs are target by criminals and COVID has proven its own challenges with mask mandates. Drive-up receiving fake identifications and cameras not capturing the plates of the vehicle, are another challenge. There is grave concern with a rise in violent bank robberies. In this session we will discuss what we’re seeing and how to protect yourself.

Presented by: Kate Cole, AAP, CAE, Executive Director, FRPA

Fraud and Real-Time Payments

1:00 - 1:50 PM PT (Breakout Session)
This session will look at how to think about fraud prevention for real-time payments in general, and specifically discuss for The Clearing House’s RTP system what are its fraud requirements and early fraud reporting analysis.

Presented by: Lee Kyriacou, VP Real-Time Payments, TCH

Security Consideration During and After a Pandemic

2:00 - 2:50 PM PT
Criminal activity is on the rise and causing headaches for financial institutions including, but not limited to, ATM snatch and grabs, ATM robberies during replenishment and some physical security issues with camera placements to identify “Felony Lane Gang” activity. The presentation content changes as the headaches multiply. As much as we can, we’ll identify the headache and bring the aspirin. 

Presented by: Mike Burke, Senior Robbery and Crisis Management Consultant, Shazam