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Industry News
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BAI Combating Payments Fraud Conference
March 1-3, 2010
Kissimmee, FL
BAI Combating Payments Fraud, held in conjunction with the BAI CheckImage and BAI Payments Connect Conference & Expo, gives you a fresh perspective on fraud issues
as financial institutions respond to threats ranging from cyber gangsters to insiders targeting payments from the web to the point of sale.
Scheduled presentations from several BITS Fraud Program members will address topics such as:
- Protecting payments in the 21st century,
- Mobile banking security,
- Red flags for identifying bust outs,
- And more.
BITS members and friends of BITS may take $200 off the standard registration price by using promotional code BTS.
Visit http://www.bai.org/combating/index.aspx or call 800-224-9889 for more information.
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Identity Theft Assistance Center Blog
The ITAC Blog provides a forum for the thoughtful exchange of views and best practices among stakeholders such as policymakers, security and privacy experts,
law enforcement, and academics in identity theft prevention.
For more information, contact Arial Pegues.
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FTC Consumer Alert
On October 9, 2008, the Federal Trade Commission (FTC) released an advisory warning consumers of fraudsters taking advantage of upheavals in the financial marketplace to send
phishing emails to collect personal and banking information. The FTC urges caution and provides advice about how to stay on guard against this type of scam regarding e-mails
that look as if they come from a financial institution that recently acquired a consumer's bank, savings and loan, or mortgage.
FTC Consumer Alert - Bank Failures, Mergers and Takeovers: A "Phish-erman's Special"
FTC press release - Consumers Warned to Avoid Fake E-mails Tied to Bank Mergers
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ID Safety Website Launched
ID Safety, developed by the International Association of Chiefs of Police (IACP) and Bank of America, helps consumers and law enforcement combat
identity crime. The site contains tips, resources, surveys and other information. Also developed by IACP and Bank of America are the ID Crime Prevention
and Recovery Toolkits, available on the BITS Online Fraud Library.
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American Express Fraud Advisory: Counterfeit Travelers and Gift Cheques
American Express has issued an updated advisory to alert institutions to a change in
fraud trends regarding counterfeit travelers and gift cheques. Fraudsters are now passing more counterfeits in lower dollar denominations, such as $100, whereas previously
the majority of counterfeits were of higher dollar denominations. American Express has issued this
new advisory as a means of reminding institutions about the authorization solutions
currently available and to clarify the valid denominations for Gift Cheques and Travelers Cheques. For more information, please contact
Heather Wyson, heather@fsround.org.
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Alliance for Consumer Fraud Awareness
On October 3, 2007 the USPIS helped launch a nationwide consumer-awareness campaign geared toward educating consumers about fake check scams. The campaign will deliver information
to consumers about fraud schemes such as work at home, lottery, and foreign business offers and will run via print media,
television, web banner ads, and the campaign website, www.fakechecks.org. Member institutions may receive complimentary
copies of the campaign materials for their use in educating their customers. For more information, please contact Heather Wyson,
heather@fsround.org.
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The Internal Fraud Prevention Service
Launched on August 1, 2006 after years of development with BITS member companies, this outstanding service is due to an unprecedented collaborative effort between
internal fraud investigators, human resources groups, legal counsel and risk professionals from across the financial services spectrum. Members of the BITS Shared
Database Working Group helped develop and pilot the concept of this service. The service enables institutions to screen employment candidates against a shared
database of former financial services employees who were released for cause due to fraudulent acts committed against the institution. A group of participating financial
institutions has begun to implement the solution and is jump-starting the service by contributing three years of historical data. For more information, please
visit http://www.earlywarning.com/internal_screening.asp or contact
Tony Selway at Tony.Selway@early-warning.com.
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