Indicators of New Account Fraud

Event Details*
Tuesday, July 16, 2024
2:00 - 3:15 pm ET
Webinar; 1.5 AAP/APRP CEU Eligible
Level: Intermediate

Event Registration**
Member Price: $150.00
Non-Member Price: $325.00
**$150 member registration fee includes 3 registrations. Additional members may be registered for $25/person. All members must be registered at the same time to receive this pricing.


Bad actors are constantly trying to identify ways to launder stolen funds. Largely using accounts opened online, patterns and indicators of new account fraud have shifted in recent years, allowing more fraud to successfully flow through accounts before detection, leaving many institutions with significant, unrecoverable losses.


In this course, attendees will:
• Assess new methods bad actors are using to open fraud accounts
• Discuss how bad actors "season" fraudulent accounts
• Document common red flag indicators of new accounts created for fraudulent intent
• Review control methods such as enhanced KYC and monitoring to increase detection
• Compare the benefits and limitations of common account validation methods, such as micro-entries and APIs
• Create a custom action plan so your institution can implement enhanced controls to combat current trends


Speaker:
• Rayleen M. Pirnie, BCJ, AAP, CERP, Director, Risk & Fraud, NEACH


Audience:
• AAPs
• ACH Coordinator
• ACH Origination
• ACH Receipt
• APRPs
• Audit Department
• BSA/Compliance
• Electronic Banking
• Financial Institutions
• Operations
• Payments Rules and Regulations
• Product Management
• Retail Banking/Front Line Staff
• Risk Management (Including Fraud Incidents)
• Training Director
• Wires



*Please note that the access information will be sent to you in a separate email upon receipt of payment. Access information and support are only provided during normal business hours.

**$150 member registration fee includes 3 registrations. Additional members may be registered for $25/person. All members must be registered at the same time to receive this pricing.