Wed, October 19, 2022
CBAO members: $359 | Non-members: $459
Fraud detection & the management practices for electronic payments are constantly evolving. The risks of financial loss are increasing as technologies facilitate the movement of money amongst a crowded field of transmitters. This program will guide community banks through several opportunities to mitigate the emerging risks presented through new channels of money movement.
7:45 AM – 8:20 AM
Continental Breakfast / Registration
8:20 AM – 8:30 AM
Welcome message and introductions
8:30 AM – 9:30 AM
How Fraudsters Scale Payment System Attacks
Mike Lemberger, Senior Vice President, Chief Risk Officer - VISA
As commerce experiences become increasingly digitized, innovative fraud and recurring mainstream payment risks continue to drain substantial value and put reputations and brands at risk. Get the latest on current risk topics posing the greatest threat to the North American market, including enumeration attack, first-party misuse, and identity fraud. We'll highlight the latest initiatives, explore solutions Visa and our clients have deployed to address these issues, and discuss how best to collaborate to protect ourselves and maintain the integrity of the payments ecosystem.
9:30 AM – 9:45 AM
9:45 AM – 10:45 AM
Faster Payments… Faster Fraud?! Now What?
Karen Sylvester, AAP, APRP, CAMS, CRCM, NCP, Senior Director, Regulatory, Compliance Education - EPCOR
While outsiders may think banks just process payments, what you really do on the payments side is manage risk. Now with increasing demand for instant or faster payments, does that mean you have to battle faster fraud, too?! Let’s look at how you can apply the various techniques you’re currently using to manage risk of the traditional services you offer like ACH, Check and Wire to newer, faster payments trends such as payment apps, RTP and FedNow. This session will provide an overview of the newer types of services, identify their associated risks and discuss potential mitigation controls you can employ to manage risk.
10:45 AM – 11:00 AM
11:00 AM – 12:00 PM
Elder Abuse, Mandatory Reporting, Review Statues and Updates
Sylvia M. Pla-Raith, Director, Elder Justice Unit, Consumer Protection Section - Ohio Attorney General Dave Yost
A just society works to make sure everyone is free from the threat of abuse, at every stage of life. To live up to our ideal of justice for all, we need to work to address the social issue of elder abuse and exploitation. According to the National Council on Aging, it estimated that 5 million older adults are abused each year. However, one study estimated that only 1 in 14 cases of abuse are reported to authorities. Making a report in instances of abuse, neglect and/or exploitation is the right thing to do, and creates the opportunity to eradicate and correct the bad behavior. Elders have a right to be safe! In this session we will review the Ohio’s adult protection laws and limitations. We will share case scenarios, interventions and strategies for successful community partnerships to combat elder abuse and exploitation.
12:00 PM – 12:45 PM
12:45 PM – 1:45 PM
Our love/hate relationship with third party payment apps
Dianna Kern, APP, Senior Trainer - SHAZAM
Consumers love them, and there’s a good chance you’ve used one yourself. But in your role as the card issuer, the unauthorized claims related to them are a source of frustration that was intensified by the 2020 spike in volume. Join me to analyze recent P2P payments volume and fraud rates, plus the interchange revenue they generated. We’ll also dig into the unauthorized claims volume and cover best practices for error resolution and staying compliant with Reg E.
1:45 PM – 2:00 PM
2:00 PM – 3:00 PM
Combatting Instant Payments Fraud Together
Stephanie Miracle, Product Management, FedNow Service - Federal Reserve Bank of Boston
Listen to Stephanie Miracle of the Federal Reserve Bank of Boston share insights on fraud relative to instant payments and how fighting fraud has evolved. She will discuss strategies and tactics to reduce risk and how involving everyone in the payment chain is pivotal to success. She will also share insights about the FedNow Service, the forthcoming instant payments solution from the Federal Reserve Banks, and the vision for enabling sending and receiving FIs to work with the network to reduce fraud exposure.
Topics to be addressed:
- Real-Time Fraud Detection
- Deposit, Check, ACH, Wire, Card, etc.
- Blocking/Filtering detection
- Risk segmentation and prioritization
- Regulatory compliance reporting (SAR/BSA/AML)
- Money Laundering
- Elder Abuse
- KYC relating to new online account opening – enhanced due diligence
- Internal/External reporting and analysis
- Enterprise Risk Management
- Trend reporting and resources
If you are having issues with registering online, please contact CBAO's Education & Training Coordinator, Malia Widder, (614) 610-1877.
Thank you to our generous sponsors for helping make this event possible: