The Scam Landscape
Michael Timoney • 12 pm CT
As payment systems evolve, so do scams that target consumers and businesses. Scammers are constantly creating new schemes to steal money or other goods from unsuspecting account holders. Scams take advantage of weaknesses in technology and also manipulate account holders into a false sense of security, creating a sense of urgency and playing on emotions. Fraudsters are vigilant on keeping up with new products, services and current events to twist them to their advantage and convince consumers or businesses to send fraudulent payments their way. This session will identify recent schemes and discuss mitigation techniques.
Mitigating Rising Debit Card Fraud for Financial Institutions
Jeff Koelling • 1 pm CT
More than a decade ago, EMV chips were added to debit cards to help reduce counterfeit card fraud. Despite that, debit card fraud continues to rise and many financial institutions are expressing frustration with losses stemming from Reg E disputes. With each account holder having a Debit Card as an access device to their account and those cards being swiped across the country, used on websites or phone apps and stored on databases, Debit Card fraud is inevitable. Yet, there are mitigation techniques that financial institutions can use and also provide to their cardholders. Tune into this session to find out how security controls can enhance your debit card risk program.
The Alarming Rise in Check Fraud
Marcy Cauthon, AAP, APRP, NCP • 2 pm CT
The industry has seen a continuing rise in check fraud since 2022 and it appears that fraudsters are not slowing down anytime soon. And, as fraudsters profit from using the legacy check system to commit fraud, financial institutions look for ways to mitigate the fraud in the check image environment. Yet, as check imaging sped up the time it took to clear a paper check, it made detecting alterations and counterfeits more difficult. This session will cover pervasive check fraud schemes and methods your institution can utilize to mitigate check fraud. We will discuss your institution's liability and steps your institution can take when you encounter an altered or counterfeit check situation.