Fraud Archives - Page 5 of 12

AFC Challenges, December 2023 – February 2024, Fraud Alert, In Focus

Financial Abuse Typologies

December 13, 2023March 27, 2024 /Leave a comment

The Financial Crimes Enforcement Network (FinCEN) has released several publications asking financial institutions (FIs) to be on the lookout for elder financial abuse and to report this abuse when it is identified. While focusing on the elderly, it is a critical function to protect a...

ACAMS Conexión, Español, Fraud Alert

Alertas de Fraude

November 6, 2023 /Leave a comment

Conozca los últimos esquemas de fraude, incluidos los que involucran aplicaciones bancarias, multibancas y pasaportes, entre otros. Fraude con las aplicaciones bancarias Los clientes están depositando cheques oficiales en la aplicación móvil de un banco sin endosos restrictivos después depositan el papel en otra entidad...

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ACAMS Connection, Fraud Alert, In Focus, Practical Solutions

Preventing Deepfake-related Fraud in KYC

October 2, 2023November 27, 2024 /Leave a comment

In an era where technology is growing at an unprecedented pace, the rise of deepfakes has sparked a new wave of concern across industries. The ability to manipulate video and audio content with remarkable precision has left businesses pondering the implications of this advanced technology....

ACAMS Connection, Ask the AFC Guru, Exclusive, Fraud

Ask the AFC Guru: Amy Wotapka—On Partnerships, Information Sharing, Fraud Schemes and More

September 25, 2023April 29, 2024 /Leave a comment

Anti-financial crime (AFC) guru Amy Wotapka, CAMS, CRCM, CFE, CIPP, FCRA, CQIA, is a lifelong banker with over 20 years in the AFC industry and a champion for other AFC professionals. Beginning her career as a suspicious activity investigator, Wotapka now serves as Bank Secrecy...

FRAML Why Machine Learning Is FIs’ Greatest Weapon

Fraud, In Focus, Practical Solutions, Tech Scope

FRAML: Why Machine Learning Is an FI’s Greatest Weapon

September 22, 2023July 2, 2024 /Leave a comment

What do songwriting, coding, stand-up comedy and fraud have in common? Humans take hours or even days to do them well. It takes ChatGPT less than a second to do the same. To illustrate, I asked generative artificial intelligence (AI) to write a three-verse song...

AFC Challenges, Fraud, September – November 2023

Health Care Payments: The Challenges and Risks

September 13, 2023April 26, 2024 /Leave a comment

Recent trends have highlighted a troubling reality: Criminals are becoming aware of a new gold mine in the health care payments industry, and many health care providers are ill-equipped to stop them. There are more than 900 operating businesses in the U.S. that are paying...

Fraud Alert

Forged Endorsement

September 5, 2023 /Leave a comment

What is happening with check fraud? Fraudsters are stealing business’s checks from the mail. They then open a fake business account as the payee on the check and deposit. These items have an extended return window. Banks have taken multiple losses of over $100k with...

Fraud Alert

Multi-Bank Fraud and Passport Fraud

September 5, 2023April 22, 2024 /Leave a comment

How are fraudsters defrauding financial institutions (FIs)? Fraudsters open accounts at multiple banks using fraudulent or stolen passports. Fraudsters send checks and Zelle transfers from one FI to another to build a relationship and balance. Fraudsters then send items that do not have a balance...

Fraud Alert

Mobile Deposits Fraud

September 5, 2023 /Leave a comment

Look out for banking apps: Customers are depositing official checks into a bank’s mobile app without restrictive endorsements. They then deposit the paper item at another financial institution. Long-term Solution: Do not allow official items in the mobile channel. Short-term Solution: Set up a team...

ACAMS Connection, Ask the AFC Guru, Career Guidance, Exclusive, Fraud

Ask the AFC Guru: Sanjeev Menon—Staffing Solutions

August 17, 2023April 29, 2024 /Leave a comment

Anti-financial crime (AFC) guru Sanjeev Menon, managing director of Madison Davis’s Legal and Compliance Practice Area, specializes in executive recruitment and provides staffing and workforce solutions to compliance and anti-financial crime (AFC) clients. Menon, who is an ASA Certified Staffing Professional and holds a Society...

ACAMS Today

The Magazine for Career-Minded Professionals in the Anti-Financial Crime Field

ACAMS Global AFC Threats Report 2025

The European Union’s Battle Against Financial Fraud: Confronting the Threats Ahead

Dr. Kari Johnstone and Tarana Baghirova: Understanding the Evolving Landscape of Human Trafficking

AI’s Role in Combating Human Trafficking in the Financial Sector

Combating Financial Crime: Collaborative Efforts in the U.K. and Europe

Reenvisioning Digital Assets under the Trump Administration

Fraud

Financial Abuse Typologies

Alertas de Fraude

Preventing Deepfake-related Fraud in KYC

Ask the AFC Guru: Amy Wotapka—On Partnerships, Information Sharing, Fraud Schemes and More

FRAML: Why Machine Learning Is an FI’s Greatest Weapon

Health Care Payments: The Challenges and Risks

Forged Endorsement

Multi-Bank Fraud and Passport Fraud

Mobile Deposits Fraud

Ask the AFC Guru: Sanjeev Menon—Staffing Solutions