Payments Fraud: Detect and Prevent Check, ACH and P-Card
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Speaker : JUSTIN MUSCOLINO
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When : Friday, October 11, 2024
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Time : 12 : 00 PM EST
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Justin brings over 25 years of wide-arranging experience in compliance, training and regulations. Most recently, he co-founded a virtual compliance training firm called tweezzle. He has also served as compliance consultant (for TD Bank, Wells Fargo, USAA), Head of North American Compliance training operations for GRC, Head of Compliance Training at Bank of China, Macquarie Group’s Head of Americas Compliance Training and JPMorgan Chase’s Compliance Training Manager. Justin also worked for FINRA, a US regulator, where he created Examiner University to train examiners on how to perform their function.
After this webinar attendees will be able to answer-
- Who commits each major type of payment fraud—focusing on the check, ACH, and –P-Card schemes
- Insight from investigating actual fraudsters
- Vendor/billing schemes that exploit payment process control weaknesses
- Latest electronic payment schemes (ACH hijacking, spear-phishing, social engineering and more)
- Check counterfeiting, forgery, and tampering schemes to be aware of
- How to detect common external payment schemes versus internal attacks
- Conducting a cost-effective fraud risk assessment of your most commonly used payment methods
- Identify the critical red flags of all forms of check, ACH, and P-card fraud
- Detect payments fraud before material financial damage occurs
- Obtain optimal payment fraud prevention tools from your financial institution
- Recommend better payment fraud control structure—including segregation of duties, employee background checks and employee awareness training
Who Should Attend
Anyone in corporate
Why Should You Attend
This webinar will focus on how all this means that organizations must stay informed about new and existing payment schemes on an ongoing basis. The risk of failing to do so is loss of massive amounts of customer credit card data, exposure to new forms of check fraud, and costly new techniques for having your ACH and wire transfer account(s) hijacked by sophisticated cyber-criminals as well as your own employees.
Topic Background
Until recently, paying vendors was a simple matter of processing an invoice and issuing a check. No longer. Ongoing advances in technology, credit card, purchasing card (P-card), ACH and wire transfers require advanced payment techniques. And with that trend, unfortunately, are coming new opportunities for fraudsters to steal from your organization.
This is a fast-changing threat matrix. The Association for Financial Professionals (AFP) estimates that over 73% of all organizations are targets of payments fraud. While not all attacks result in fraud-related losses, this statistic alone confirms that criminals are as aggressive as ever in attempting to misappropriate funds via the various forms of payments fraud.
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$160.00
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