Identity Issues in Banking - After the Breach, 26 Red Flags and More

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.

Then came the Equifax data breach, among many others. At the time banks were starting to utilize external data to “test” the identity of customers, particularly for phone and other remote contacts. If fraudsters can buy the same data the banks do, what will the banks have to change?

Learning Objectives:

• How does it make sense to utilize the government’s “Red Flags”?
• What are the objectives they are intended to achieve?
• What are other things that can be done to further meet those objectives?
• How do you learn from losses incurred to reduce future losses?
• What are ways identity fits into an overall fraud control program?
• What might identity solutions be changing?

Areas Covered in the Webinar:

• The four areas covered by Red Flags:
• Credit Report data
• Suspicious documents
• New Accounts, suspicious information
• Existing Accounts, suspicious changes
• New ideas in customer identity:
• New concept for address control
• The future of customer identity?

Who Will Benefit:

• Fraud Offices
• BSA/AML Professionals
• BSA/AML/Fraud VP, Manager, Director, Supervisor
• Compliance Officers
• Internal Auditors
• Accountants
• Corporate Investigators
• Management Personnel
• Frontline Employees
• Financial Institution Branch Managers
• Law Enforcement
• Small Business Owners
• Forensic Auditors and Accountants
• Certified Fraud Examiners (CFES)
• Certified Anti-Money Laundering Specialists (CAMS)

Jim George
Independent consultant, George Consulting LLC

Jim George brings over 25 years of experience as a consultant to major banks in areas including 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.

Jim in an independent consultant having prior experience as an Associate Partner at IBM, PriceWaterhouse-Coopers Consulting and Andersen Consulting. Jim also helps reunite families, for adoptees and birthparents. This gives him an additional set of experiences related to identity.

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