Business Email Compromise is About to Spike As if 2020 hasn’t thrown enough new fraud schemes our way, law enforcement is warning of an anticipated increase in business email compromise (BEC) in the coming months. Why now? BEC fraud can …
Business Email Compromise is About to Spike Julie J. Mixtacki
Employment Red Flags In Loan Originations In February 2020 Fannie Mae posted information about a 2018 fraud alert related to entities in California identified as allegedly fictitious employers. You can visit https://singlefamily.fanniemae.com/media/6186/display to view the alert. Misrepresentation of borrower employment …
Employment Red Flags In Loan Originations Natalie Reifsneider
One of the most susceptible areas for fraud in a bank, or financial institution, is the dormant deposit account. Dormant accounts are generally a deposit account that has been inactive for a period of time, or an account for which …
Dormant Account Fraud – The Importance of Proper Monitoring James Dailey
The ATM – Automated Teller Machine – made its debut in 1967 at Barclays Bank in London. The first American version became available in 1969 at Chemical Bank on Long Island, NY. Initially, access was restricted to customers of the …
Evelyn I. Dehmey Evolution of the ATM: WHAT WILL MY ATM DO NEXT?
CECL and Technology The implementation of the Financial Accounting Standards Board Current Expected Credit Loss (CECL) standard is quickly approaching. The standard goes into effect for SEC filers in 2019, public companies who are not SEC filers in 2020, and …
Brandon Peart CECL and Technology Current Expected Credit Loss
ACH: Time is Running Out to Provide NACHA with Feedback on Same Day ACH Since the 1970s the principal electronic transfer system, ACH (Automated Clearing House) has been transferring payments from one institution to another. Based on stability not speed, …
Automated clearing house Cindy Tice Time is Running Out to Provide NACHA with Feedback on Same Day ACH
How Well Do You Know Your Third-Party Vendor? The risks of involvement with third-party vendors are increasing with news of data breaches from Equifax, Verifone, FAFSA, Docusign, and many more in 2017 alone. No matter the size of your bank, …
Risk ID Framework Practices The Banking industry develops and executes strategic plans in an uncertain and risky environment. The purpose of an enterprise risk management framework is to ensure that those risks and areas of uncertainty are identified, analyzed, and …
ACH- Third Party Sender Registration On September 29, 2017 NACHA’s Third-Party Sender Registration Rule became effective. Financial Institutions must register with NACHA either to register their Third-Party Sender customers or to indicate that the institution does not have any Third-Party …
Could Your Sales Goals Be Responsible For Risky Behavior? Research by Duke professor Dan Ariely and his colleagues has shown that pay can substantially enhance a person’s performance – the higher the reward, the more productive. However, could this theory …