Identity issues in Banking - 26 Red Flags and More

Duration 60 Mins
Level Basic & Intermediate & Advanced
Webinar ID IQW20C0325

  • Overview of key fraud control points
  • Red flags indicating ID threats for new accounts
  • On application    
  • On credit reports
  • On documents provided
  • On early use of new credit
  • Red flags indicating ID threats for existing accounts
  • Directions for ID Tools

Overview of the webinar

Today’s fraudsters are not using their real names, addresses or Social Security numbers. They are using stolen identity tokens, stolen identities and totally fabricated identities. While this makes fraud investigations much harder, it also provides opportunities for banks to spot potential fraud before it happens by spotting indications of identity issues before fraudulent transactions even have an opportunity to take place. This webinar will help you create pro-active standards and processes which will work together to identify reasons to be suspicious and additional steps to take when additional suspicions seem justified. We will also look into the near-term future, discussing techniques being implemented by leaders in the field and being looked at for future.

Who should attend?

  • Supervisor
  • Managers 
  • VPs
  • Directors  
  • Corporate Investigators
  • Small Business Owners
  • Forensic Auditors and Accountants
  • Certified Fraud Examiners (CFES)
  • Professionals working in Banking, Credit Unions or Any Financial Services Company serving retail customers, Compliance and AML areas

Why should you attend?

The Federal regulators put together a list of 26 “Red Flags” to help banks deal with ID theft and identity fraudulent attempts to take over accounts. But the list is not organized for ease of use and they are not a comprehensive guide. In this topic we have organized the Red Flags into related functional areas and for each area we provide additional tips and information based on years of consulting with major banks from the perspectives of prevention, loss reduction, detection and investigations.

Faculty - Mr. Jim George

Jim George is an independent consultant to banks focusing on issues of fraud. He brings over 25 years as a consultant to major banks in Associate Partner and Principal roles at PriceWaterhouse-Coopers Consulting, IBM Consulting in Bank Risk and Compliance and Andersen Consulting (now Accenture). He has also been SVP Operations for a Fortis-US division providing outsourcing services to the banking industry. 
Jim's work has included projects in fraud investigation, fraud prevention, identity issues, compliance and AML (anti-money laundering). His background includes work in bank operations and payments strategy, reengineering, systems and quality improvement.

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