Could you spot an attempt to use someone else's personal information to open a fraudulent account online? Javelin, a national security research firm, says account takeover and new account fraud is growing. Account takeover fraud resulted in nearly $13 billion in losses in 2023 (up from $11 billion in 2022). New account fraud reached $5.3 billion (compared with $3.9 billion in 2022). Join us to learn how to ascertain an applicant’s true identity and comply with BSA, CIP, and E-SIGN. Compliance with E-SIGN requirements for opening accounts online is one piece of the puzzle; knowing the “true identity” of the customer for BSA and CIP completes the process. It is critical that financial institutions use multilayered systems of fraud screening. Some methods include email-specific data, IP address, phone, and physical address information. This session will explain the intersection of E-SIGN security and fraud detection and provide valuable tips for educating consumers and identifying fraud.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Develop a robust risk mitigation strategy for online account opening
- Use FinCEN guidance to detect and report fraud related to identity theft, elder financial abuse, and cyber-enabled crime
- Explain and implement the E-SIGN consent process to open loan and deposit accounts online
- Offer suggestions for consumer protection against identity theft and fraud
- Understand the importance of information security procedures
TAKE-AWAY TOOLKIT
- Current exam procedures and many resources for online banking
- E-SIGN checklist and answers to common questions
- Suspicious Activity Report checklist for fraud related to online accounts
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
WHO SHOULD ATTEND?
This informative session will be helpful to ensure compliance with e-banking and is targeted for compliance officers, risk managers, operations managers, business development managers, and others responsible for managing online banking, E-SIGN compliance, e-statements, and e-disclosures.
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.
MEET THE PRESENTER
Susan Costonis, CRCM, Compliance Training & Consulting for Financial Institutions
Susan Costonis is a compliance consultant and trainer who began her career in 1978. She specializes in compliance management along with deposit and lending regulatory training. Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real-life examples.
THREE REGISTRATION OPTIONS – WHAT YOU GET
1. LIVE WEBINAR
- Unlimited live connections with shareable access within your institution
- Available to view on desktop, mobile & tablet devices
- Take-away toolkit
- Live Q&A session & the presenter's contact info for follow-up questions
- Access the webinar training from your User Portal
2. ON-DEMAND WEBINAR
- Unlimited and shareable access to the recording within your institution,
starting two business days after the live date
- Available to view 24/7 on desktop, mobile & tablet devices
- Take-away toolkit
- Ability to download the webinar video and toolkit items
- Presenter's contact info for follow-up questions
- Access the webinar training from your User Portal
3. BUNDLE & SAVE
- Save when you Bundle the Live + On-Demand Webinar Registration
- Includes all the items listed above
- Full registration descriptions can be found here
