Fradsters and scammers are evolving and finding new ways to commit bank fraud. You need to be aware of the ways in which you can protect yourself from bank fraud. We, at Money 2.0 Conference have prepared this presentation for this purpose. After going through the presentation you will be able to better understand bank fraud and its types. We have also provided methods to prevent such scams.

1. Bank Fraud
Reviewing its Types, Impact and Prevention Methods

2. What is Bank Fraud?
Bank fraud occurs when someone acquires assets held by a financial institution. The
assets held by a financial institution can be money, property, securities, bonds, etc.
Another form of bank fraud is when scammers pose as financial institutions to
obtain money from depositors.

3. Popular Types of Bank Frauds
1. Loan Fraud
This type of bank fraud occurs when people
provide false information to obtain a bank loan.
Stealing someone’s identity and applying for a
loan in their name is also a form of loan fraud.
2. Wire Transfer Fraud
Wire transfer fraud happens when convince
victims to wire money to them. Secret shopper
scam is a popular example.
Sometimes fraudsters steal the username and
password of a banking customer to wire money
to themselves.

4. Popular Types of Bank Frauds
3. ATM Fraud
Reprogramming ATM machines or installing
skimmer to steal card details comes under ATM
fraud.
4. Money Laundering
When criminals deposit fraudulently obtained
money into a bank it is known as money
laundering.

5. Famous Money
Fraud
Ponzi Scheme
Charles Ponzi is the man behind
the well known investment scams
known as the ‘Ponzi Scheme’.
In this scheme existing investors
are paid with the money obtained
from new investors.
His scheme ran for a year and
cost investors around $20 million.

6. Impact of Bank Fraud
There are a large number of impacts of bank fraud. Some of them are given below:
● The integrity of the banking industry becomes compromised.
● Rules and regulations are enhanced.
● Bank fraud exposes other sectors of the economy.
● Banking services become affected and customers find it difficult to find quality
banking services.

7. How to Reduce Bank Fraud?
The following steps will help in reducing bank fraud:
● Raise awareness about bank fraud.
● Protect your personal financial information.
● Review financial statements regularly.
● Consult a financial advisor to know more about bank fraud.

8. Thank You
Presented By :
Lakshay Mohanpuriya,
Manager, Money 2.0 Conference
https://www.money2conf.com/