For years, there has been a growing need for fraud prevention. These attacks continue to evolve, both in scope and number, threatening the stability of financial institutions worldwide. And so, our team of risk experts decided to elevate our role in helping to get in front of these crimes.
On April 15, 2020, Allied Solutions kicked-off our brand new “Let’s Talk Fraud” discussion series. This free webinar series presents information and best practices on fraud happening in real-time, every single month. During these sessions, attendees will receive expert advice, share insights, and ask questions, all to build the strongest possible defense against fraud of every shape and color.
Click here to learn more about the “Let’s Talk Fraud” webinar series
Ahead of every session, we poll the community to find out what topics participants are most interested in hearing about. As a result, the following topics have been discussed thus far in the series:
- COVID-19 Attacks: Overview of fraud crimes spiking as a result of the pandemic
- Phishing Scams: How they look today and how to prevent these attacks
- Payment App Fraud: How to stop these trending account takeover attacks
- Check Fraud: Sample attacks and tools to reject counterfeit cashier and corporate checks
- Remote Wire Fraud: Popular targets and tactics to reduce the crimes
- Synthetic ID Fraud: Warning signs and ID verification strategies
- Card Fraud: Introduction to the numerous types of attacks and card protection strategies
- ATM Fraud: Proactive controls to thwart these crimes
Click here to watch Ann Davidson’s CUBroadcast Interview on COVID-19 fraud prevention
The main goal of these events is to give financial institutions more tools and strategies to protect their institutions and consumers from ongoing attacks. Here are some examples of the best practices our risk experts have shared thus far in the Let’s Talk Fraud series:
- Authentication strategies to prevent identity fraud: i.e., security questions for account access, code validation for remote transaction requests, hold periods for high dollar or high-risk transactions
- Controls to reduce the severity of fraud exposure: i.e., transaction limits, monitoring tools, employee oversight
- Education strategies to build a stronger fraud defense: i.e., fraud training for employees, scam updates shared with members, proactive industry research for risk teams
We are excited about the impact these webinars will have on our entire industry. We hope that these ongoing conversations will inspire a community of support beyond these 1-hour sessions, so our industry can band together to fight against fraud crime in a major way.
