FraudNet is a fraud detection system that identifies potentially fraudulent bill pay activity in real time using algorithms. It alerts credit unions to suspicious transactions so they can be investigated. When an alert is received, the credit union must prioritize it based on the type of fraud suspected and respond by the deadline whether to process or deny the transaction. The document provides information on how FraudNet works, common types of fraud detected, what constitutes an alert, priorities for different alert types, tips for researching alerts, and response requirements.
Be prepared to deal with fraud for webKatie Farrow
The median fraud loss according to the document was $145,000, with 24% of fraud cases involving losses of at least $1 million. The median duration to uncover a fraud scheme was 11 months. Tips were the most common detection method, accounting for 42% of detections. Targeted fraud awareness training and procedures like reviewing bank statements and mandating vacations can help prevent and detect fraud.
Telecommunication Fraud Detection and PreventionSumera Khan
Telecommunication fraud is the use of telecommunication products or services with the intent of illegitimately acquiring money from, or deteriorating to pay, a telecommunication company or its clients. E.g. PBX/IP-PBX Fraud: The hacking of a PBX to initiate long distance and high case destination calling by fraudsters.
This document provides answers to frequently asked questions about Corporate Account Take Over (CAT) fraud. CAT fraud involves tricking business owners into installing malicious banking software on their computers through spoofed emails. This allows criminals to steal login credentials and fraudulently transfer funds from business accounts. According to the information provided, Eastern European organized crime groups are believed to be primarily responsible for CAT fraud. While anti-virus software may not detect the customized banking malware, businesses can help prevent losses by disconnecting infected computers and contacting their bank immediately if they believe they are a victim.
This document provides answers to frequently asked questions about Corporate Account Take Over (CAT) fraud. CAT fraud involves tricking business owners into installing malicious banking software that allows criminals to access and steal funds from business accounts. The money is usually sent overseas through wire transfers or money mules. According to law enforcement, Eastern European organized crime groups are primarily responsible for CAT fraud. While businesses of all sizes can be targeted, smaller businesses and non-profits are now common targets. If a business believes they are a victim, they should disconnect their computer and contact their bank immediately.
Ransomware encrypts files on infected devices and demands ransom payments in cryptocurrency for the decryption key. It has become a global epidemic. There are two main types: locker ransomware which locks access to devices, and crypto ransomware which encrypts valuable files. Ransomware uses techniques like exploit kits, malicious ads/emails, and affiliate networks to spread. It encrypts files using symmetric and asymmetric encryption. Payments are typically demanded in cryptocurrency like Bitcoin. Mitigation strategies include backups, antivirus software, and network protections. A proposed solution is a cloud-based malware scanning system for remote detection and response.
Regulations, compliance and overall risk management place a significant operational burden on financial services.
Online lenders are no different. You have to comply with multiple regulatory requirements, and you are- like any other financial service- very susceptible to fraud.
If you want to prevent and reduce loan application fraud, your strategy and fraud detection system should include a combination of identity verification, account onboarding protection, and account monitoring.
In this post, we’ll explain how identity verification and Know Your Customer processes are related, and how you can expand them for better fraud coverage.
We’ve also provided specific recommendations for identity verification security tests, and account origination protection strategies that can help you prevent fraud during the loan application process.
This document provides a summary of the member guide for Trust Essentials. It outlines the various identity theft protection, legal, tax, and financial services available to members. Key benefits include identity monitoring and insurance, legal services such as consultations and document reviews, tax preparation and audit assistance, and financial counseling. Members can access these services by calling the provided numbers and identifying themselves as Trust Essentials members.
The document discusses various types of internet fraud such as online dating scams, spam, spyware, phishing, and identity theft. It provides statistics on the costs of cybercrime and online fraud victims losing over $1.4 billion in 2017 according to an FBI report. Some tips mentioned to prevent fraud include using a separate credit card for online purchases and limiting personal information shared publicly.
Be prepared to deal with fraud for webKatie Farrow
The median fraud loss according to the document was $145,000, with 24% of fraud cases involving losses of at least $1 million. The median duration to uncover a fraud scheme was 11 months. Tips were the most common detection method, accounting for 42% of detections. Targeted fraud awareness training and procedures like reviewing bank statements and mandating vacations can help prevent and detect fraud.
Telecommunication Fraud Detection and PreventionSumera Khan
Telecommunication fraud is the use of telecommunication products or services with the intent of illegitimately acquiring money from, or deteriorating to pay, a telecommunication company or its clients. E.g. PBX/IP-PBX Fraud: The hacking of a PBX to initiate long distance and high case destination calling by fraudsters.
This document provides answers to frequently asked questions about Corporate Account Take Over (CAT) fraud. CAT fraud involves tricking business owners into installing malicious banking software on their computers through spoofed emails. This allows criminals to steal login credentials and fraudulently transfer funds from business accounts. According to the information provided, Eastern European organized crime groups are believed to be primarily responsible for CAT fraud. While anti-virus software may not detect the customized banking malware, businesses can help prevent losses by disconnecting infected computers and contacting their bank immediately if they believe they are a victim.
This document provides answers to frequently asked questions about Corporate Account Take Over (CAT) fraud. CAT fraud involves tricking business owners into installing malicious banking software that allows criminals to access and steal funds from business accounts. The money is usually sent overseas through wire transfers or money mules. According to law enforcement, Eastern European organized crime groups are primarily responsible for CAT fraud. While businesses of all sizes can be targeted, smaller businesses and non-profits are now common targets. If a business believes they are a victim, they should disconnect their computer and contact their bank immediately.
Ransomware encrypts files on infected devices and demands ransom payments in cryptocurrency for the decryption key. It has become a global epidemic. There are two main types: locker ransomware which locks access to devices, and crypto ransomware which encrypts valuable files. Ransomware uses techniques like exploit kits, malicious ads/emails, and affiliate networks to spread. It encrypts files using symmetric and asymmetric encryption. Payments are typically demanded in cryptocurrency like Bitcoin. Mitigation strategies include backups, antivirus software, and network protections. A proposed solution is a cloud-based malware scanning system for remote detection and response.
Regulations, compliance and overall risk management place a significant operational burden on financial services.
Online lenders are no different. You have to comply with multiple regulatory requirements, and you are- like any other financial service- very susceptible to fraud.
If you want to prevent and reduce loan application fraud, your strategy and fraud detection system should include a combination of identity verification, account onboarding protection, and account monitoring.
In this post, we’ll explain how identity verification and Know Your Customer processes are related, and how you can expand them for better fraud coverage.
We’ve also provided specific recommendations for identity verification security tests, and account origination protection strategies that can help you prevent fraud during the loan application process.
This document provides a summary of the member guide for Trust Essentials. It outlines the various identity theft protection, legal, tax, and financial services available to members. Key benefits include identity monitoring and insurance, legal services such as consultations and document reviews, tax preparation and audit assistance, and financial counseling. Members can access these services by calling the provided numbers and identifying themselves as Trust Essentials members.
The document discusses various types of internet fraud such as online dating scams, spam, spyware, phishing, and identity theft. It provides statistics on the costs of cybercrime and online fraud victims losing over $1.4 billion in 2017 according to an FBI report. Some tips mentioned to prevent fraud include using a separate credit card for online purchases and limiting personal information shared publicly.
Law Enforcement Fraud Prevention Network and Financial Instrument Secure Tran...Michael Abernathy
A description of our fraud prevention and cyber crime projects we are preparing to implement on a nationwide basis. We are seeking investors, marketing, human resources, IT infrastructure, coding and programming, cyber security professionals. The services described are projected to generate over $286 Billion in revenue in 2018
The market share consists of 11 million businesses, 120 million consumers and family members, along with victims of ID Theft, Check Fraud. Tax Refund Fraud, Title Fraud, Mortgage Fraud, Installment loan fraud, and internet fraud.
Fraud crimes are at epidemic levels and has seen dramatic increases over the last 20 years.
This is a system that can be implemented throughout the U.S. Canada, and the world.
Consumers will be able to verify their identity and protect themselves from fraud just by submitting their fingerprint.
It will be required by any business that sells products or services.
This document discusses internet fraud and provides information on:
- The nature and definitions of internet fraud, including using internet components like email, websites, and message boards to conduct fraudulent activities.
- Common types of internet fraud like auction fraud, credit/debit card fraud, and investment scams.
- Tools used to carry out internet fraud such as email, chat rooms, and spoofing/phishing websites.
- Statistics on internet crime complaints received by law enforcement in a given year, with internet auction fraud being the most reported offense.
Alternative Finance & Payments stream - Stuart Sykes slidesCallcredit123
The document discusses how an online company uses information from its front line IP provider to better understand potential clients and detect fraud. It provides statistics on the types of rules the company uses, the evidence those rules find, and how fraud is broken down. Crime gangs are said to prefer using stolen identities and cloned cards from the dark web while applying for loans with dynamic IPs or public networks on Windows PCs.
Simple Training for Information Security and Payment FraudEvan Francen
The document discusses payment fraud risks and protections. It summarizes a survey finding that 74% of organizations were victims of payment fraud in 2016. Checks and wire transfers are most commonly targeted. Business email compromise scams targeting wire transfers are on the rise. The document provides 7 tips for protection, including employing dual control for transactions and monitoring accounts daily.
Managing Payment and Fraud - Ecommerce MasterclassThe ID Co.
The aim of the programme is to help businesses in Scotland take greater advantage of ecommerce by giving them access to expert advice on a variety of relevant topics. The focus is on providing practical, robust, independent “How to…” information to enable delegates to take action. At the end of the session we want delegates to have enough information to refine their existing ecommerce practices, so they can increase the value of their business.
This was a talk I gave on common sources of fraud and some new opportunities.
Fraud can take many forms but generally involves deception for financial or personal gain. There are three main types of fraud: corruption, asset misappropriation, and financial statement fraud. Fraud is most often committed due to pressure, opportunity, and the ability to rationalize one's actions. Companies can help prevent fraud by breaking this fraud triangle through strong internal controls, monitoring, and creating a culture of integrity and accountability.
This document summarizes a presentation on bank fraud and data forensics. It discusses common types of internal and external bank fraud such as wire fraud, check fraud, and asset misappropriation. It outlines the fraud triangle of opportunity, pressure, and rationalization. It emphasizes the importance of strong internal controls and segregation of duties to prevent fraud. The presentation also discusses how digital forensics can be used to investigate inappropriate network activity, email, internet usage, and recover deleted files during fraud investigations. Contact information is provided for the three presenters.
The presentation covered payment fraud trends and strategies for combating fraud. It discussed how fraud is increasing with the economic downturn and criminals are targeting various payment methods like checks, cards, and electronic payments. The speaker outlined a fraud management framework of prevention, detection, investigation, containment/recovery, and analysis. Statistics showed most organizations experienced fraud attempts in 2008. Common fraud types involved checks, cards, and electronic methods. The presentation provided strategies for organizations to strengthen internal controls and leverage tools from financial institutions to reduce fraud risks and losses across different payment types.
This document discusses internet fraud in the capital market and the role of regulatory bodies. It outlines several capital market scams in India and steps that investors and market regulators can take to prevent such frauds. As an investment manager, one must be aware of various scam types and conduct thorough background checks. Stock exchanges can undertake due diligence, auditing of brokers, set guidelines for information dissemination, and enforce codes of conduct to reduce fraud. Derivatives can also help hedge risks by allowing risk transfer through futures and options contracts.
Prevent banking frauds through identity managementGARL
What is the difference between private and retail banking in fraud management? Significant use of mobile devices (tablet, smartphone,...) and the growing number of fraud due to human factor are changing private banking management.
GARL presentation at Forum Banca 2013 describes fraud risks for private banking and how to manage them in a prevention plan.
The presentation was made as a collaboration with Banca Esperia (Mediobanca group).
Aggressive phone scams impersonating IRS agents remain a threat, with scammers demanding payment through prepaid debit cards or wire transfers. The IRS also warns of email phishing scams seeking personal information, as well as new scams impersonating the Taxpayer Advocacy Panel or verifying tax returns over the phone. The IRS advises taxpayers to stay alert for scams and never provide personal information or payment to unknown callers claiming to represent the IRS.
This paper was presented at several conferences around the world, it is a few years old, but the concepts, trends and risks identfied in the is paper are still relevant today
This document provides instructions for victims of identity theft on important steps to take. It begins by listing 10 signs that identity theft may have occurred. The main steps outlined are:
1. Place fraud alerts on your credit reports with the three major credit bureaus and consider freezing your credit to prevent new accounts from being opened.
2. Monitor your credit reports for fraudulent activity by requesting free annual reports from each bureau or paying a small fee for monthly alerts.
3. File a police report to document the crime and get an identity theft report for creditors.
4. Report the crime to the Federal Trade Commission through their hotline or online complaint form.
5. Contact any creditors where existing accounts were
Internet fraud takes many forms and causes significant financial losses each year. Some key points:
- Internet fraud includes phishing scams (tricking people into sharing private info), identity theft, auction fraud, and online purchase scams. Criminals use emails, social media, and fake websites to steal money, personal details, or valuable goods.
- Data shows 39.2% of all crimes in England and Wales are internet fraud-related. One personal example described receiving a phishing email disguised as being from Google, trying to steal login details.
- Identity theft allows criminals to impersonate victims and take on debt or create criminal records in their name. Online purchase scams involve selling fake or
The document describes the benefits and services provided by an Identity Lock PLUS Membership. It includes 3 levels of identity protection: identity monitoring, a keylogging defense system, and identity theft insurance. It also provides family legal services including referrals to plan attorneys on legal issues. Members can access these services by calling the contact numbers provided and identifying themselves as an Identity Lock PLUS member.
AlgoCharge offers a web-based fraud management system that assists in credit card fraud detection & prevention with Geo-based filters. The system provides various levels of fraud protection to enhance acceptance rate & reduce the risk of charge-backs.
The document discusses various types of fraud that occur on the internet, including fraudulent promotions on electronic bulletin boards, disguised advertising in discussion groups, e-mail scams involving worthless products and pyramid schemes, risky investment opportunities and stock manipulations. It provides tips for protecting yourself such as being wary of sites you are unfamiliar with, not revealing personal financial information online unless you are sure where it is going, and knowing the company you plan to do business with. Consumers should report any suspected fraudulent activity to organizations like the National Fraud Information Center.
Learning you are a victim of identity theft can be a stressful event. Identity theft is also a challenge to businesses, organizations and government agencies, including the IRS. Tax-related identity theft occurs when someone uses your stolen Social Security number to file a tax return claiming a fraudulent refund.
Many times, you may not be aware that someone has stolen your identity. The IRS may be the first to let you know you’re a victim of ID theft after you try to file your taxes.
The IRS combats tax-related identity theft with a strategy of prevention, detection and victim assistance. The IRS is making progress against this crime and it remains one of the agency’s highest priorities.
Here are ten things to know about ID Theft:
This document provides guidelines for security team members on how to handle various fraud-related situations, including chargebacks, hacked accounts, trapped accounts, scam victims, and documentation requirements. Procedures include templates for communicating with players, reviewing account histories and logins, untrapping associated accounts, and logging all actions in a shared tracking spreadsheet to report to management weekly. Key contacts are also listed for escalating urgent issues.
The C6 intelligence Fraud Glossary Whitepaper is a list of terms used within the fraud industry.
The glossary has 5 categories:
Definition
Crime
Law
Organization
Slang
Example:
Account Detection Rate
Definition -
The percentage of fraud cases or accounts that are detected. Since a fraud case may have more than one fraudulent transaction this number is generally higher than the transaction detection rate.
This current updated version has 315 entries
Splunk .conf2011: Real Time Alerting and MonitoringErin Sweeney
The document discusses Splunk's capabilities for monitoring and alerting. It describes how Splunk can help various IT roles like service desk, developers, and DBAs respond faster to issues compared to not using Splunk. It provides an overview of real-time searching, alerting, and the alert manager in Splunk. It also demonstrates how to create simple and advanced alerts, enable throttling, and check the alert manager.
Time to Think Differently: The case for changeThe King's Fund
Our Time to Think Differently programme has made the case for change and highlighted the trends that will influence the way health and social care is delivered in future.
To help you explore and share this work, we are creating a series of downloadable slidepacks. We hope that they will inform your thinking and discussions about the future of care.
The first pack in this series explores the pressures on the health and social care delivery system and why it needs to change to meet the challenges of the future.
Law Enforcement Fraud Prevention Network and Financial Instrument Secure Tran...Michael Abernathy
A description of our fraud prevention and cyber crime projects we are preparing to implement on a nationwide basis. We are seeking investors, marketing, human resources, IT infrastructure, coding and programming, cyber security professionals. The services described are projected to generate over $286 Billion in revenue in 2018
The market share consists of 11 million businesses, 120 million consumers and family members, along with victims of ID Theft, Check Fraud. Tax Refund Fraud, Title Fraud, Mortgage Fraud, Installment loan fraud, and internet fraud.
Fraud crimes are at epidemic levels and has seen dramatic increases over the last 20 years.
This is a system that can be implemented throughout the U.S. Canada, and the world.
Consumers will be able to verify their identity and protect themselves from fraud just by submitting their fingerprint.
It will be required by any business that sells products or services.
This document discusses internet fraud and provides information on:
- The nature and definitions of internet fraud, including using internet components like email, websites, and message boards to conduct fraudulent activities.
- Common types of internet fraud like auction fraud, credit/debit card fraud, and investment scams.
- Tools used to carry out internet fraud such as email, chat rooms, and spoofing/phishing websites.
- Statistics on internet crime complaints received by law enforcement in a given year, with internet auction fraud being the most reported offense.
Alternative Finance & Payments stream - Stuart Sykes slidesCallcredit123
The document discusses how an online company uses information from its front line IP provider to better understand potential clients and detect fraud. It provides statistics on the types of rules the company uses, the evidence those rules find, and how fraud is broken down. Crime gangs are said to prefer using stolen identities and cloned cards from the dark web while applying for loans with dynamic IPs or public networks on Windows PCs.
Simple Training for Information Security and Payment FraudEvan Francen
The document discusses payment fraud risks and protections. It summarizes a survey finding that 74% of organizations were victims of payment fraud in 2016. Checks and wire transfers are most commonly targeted. Business email compromise scams targeting wire transfers are on the rise. The document provides 7 tips for protection, including employing dual control for transactions and monitoring accounts daily.
Managing Payment and Fraud - Ecommerce MasterclassThe ID Co.
The aim of the programme is to help businesses in Scotland take greater advantage of ecommerce by giving them access to expert advice on a variety of relevant topics. The focus is on providing practical, robust, independent “How to…” information to enable delegates to take action. At the end of the session we want delegates to have enough information to refine their existing ecommerce practices, so they can increase the value of their business.
This was a talk I gave on common sources of fraud and some new opportunities.
Fraud can take many forms but generally involves deception for financial or personal gain. There are three main types of fraud: corruption, asset misappropriation, and financial statement fraud. Fraud is most often committed due to pressure, opportunity, and the ability to rationalize one's actions. Companies can help prevent fraud by breaking this fraud triangle through strong internal controls, monitoring, and creating a culture of integrity and accountability.
This document summarizes a presentation on bank fraud and data forensics. It discusses common types of internal and external bank fraud such as wire fraud, check fraud, and asset misappropriation. It outlines the fraud triangle of opportunity, pressure, and rationalization. It emphasizes the importance of strong internal controls and segregation of duties to prevent fraud. The presentation also discusses how digital forensics can be used to investigate inappropriate network activity, email, internet usage, and recover deleted files during fraud investigations. Contact information is provided for the three presenters.
The presentation covered payment fraud trends and strategies for combating fraud. It discussed how fraud is increasing with the economic downturn and criminals are targeting various payment methods like checks, cards, and electronic payments. The speaker outlined a fraud management framework of prevention, detection, investigation, containment/recovery, and analysis. Statistics showed most organizations experienced fraud attempts in 2008. Common fraud types involved checks, cards, and electronic methods. The presentation provided strategies for organizations to strengthen internal controls and leverage tools from financial institutions to reduce fraud risks and losses across different payment types.
This document discusses internet fraud in the capital market and the role of regulatory bodies. It outlines several capital market scams in India and steps that investors and market regulators can take to prevent such frauds. As an investment manager, one must be aware of various scam types and conduct thorough background checks. Stock exchanges can undertake due diligence, auditing of brokers, set guidelines for information dissemination, and enforce codes of conduct to reduce fraud. Derivatives can also help hedge risks by allowing risk transfer through futures and options contracts.
Prevent banking frauds through identity managementGARL
What is the difference between private and retail banking in fraud management? Significant use of mobile devices (tablet, smartphone,...) and the growing number of fraud due to human factor are changing private banking management.
GARL presentation at Forum Banca 2013 describes fraud risks for private banking and how to manage them in a prevention plan.
The presentation was made as a collaboration with Banca Esperia (Mediobanca group).
Aggressive phone scams impersonating IRS agents remain a threat, with scammers demanding payment through prepaid debit cards or wire transfers. The IRS also warns of email phishing scams seeking personal information, as well as new scams impersonating the Taxpayer Advocacy Panel or verifying tax returns over the phone. The IRS advises taxpayers to stay alert for scams and never provide personal information or payment to unknown callers claiming to represent the IRS.
This paper was presented at several conferences around the world, it is a few years old, but the concepts, trends and risks identfied in the is paper are still relevant today
This document provides instructions for victims of identity theft on important steps to take. It begins by listing 10 signs that identity theft may have occurred. The main steps outlined are:
1. Place fraud alerts on your credit reports with the three major credit bureaus and consider freezing your credit to prevent new accounts from being opened.
2. Monitor your credit reports for fraudulent activity by requesting free annual reports from each bureau or paying a small fee for monthly alerts.
3. File a police report to document the crime and get an identity theft report for creditors.
4. Report the crime to the Federal Trade Commission through their hotline or online complaint form.
5. Contact any creditors where existing accounts were
Internet fraud takes many forms and causes significant financial losses each year. Some key points:
- Internet fraud includes phishing scams (tricking people into sharing private info), identity theft, auction fraud, and online purchase scams. Criminals use emails, social media, and fake websites to steal money, personal details, or valuable goods.
- Data shows 39.2% of all crimes in England and Wales are internet fraud-related. One personal example described receiving a phishing email disguised as being from Google, trying to steal login details.
- Identity theft allows criminals to impersonate victims and take on debt or create criminal records in their name. Online purchase scams involve selling fake or
The document describes the benefits and services provided by an Identity Lock PLUS Membership. It includes 3 levels of identity protection: identity monitoring, a keylogging defense system, and identity theft insurance. It also provides family legal services including referrals to plan attorneys on legal issues. Members can access these services by calling the contact numbers provided and identifying themselves as an Identity Lock PLUS member.
AlgoCharge offers a web-based fraud management system that assists in credit card fraud detection & prevention with Geo-based filters. The system provides various levels of fraud protection to enhance acceptance rate & reduce the risk of charge-backs.
The document discusses various types of fraud that occur on the internet, including fraudulent promotions on electronic bulletin boards, disguised advertising in discussion groups, e-mail scams involving worthless products and pyramid schemes, risky investment opportunities and stock manipulations. It provides tips for protecting yourself such as being wary of sites you are unfamiliar with, not revealing personal financial information online unless you are sure where it is going, and knowing the company you plan to do business with. Consumers should report any suspected fraudulent activity to organizations like the National Fraud Information Center.
Learning you are a victim of identity theft can be a stressful event. Identity theft is also a challenge to businesses, organizations and government agencies, including the IRS. Tax-related identity theft occurs when someone uses your stolen Social Security number to file a tax return claiming a fraudulent refund.
Many times, you may not be aware that someone has stolen your identity. The IRS may be the first to let you know you’re a victim of ID theft after you try to file your taxes.
The IRS combats tax-related identity theft with a strategy of prevention, detection and victim assistance. The IRS is making progress against this crime and it remains one of the agency’s highest priorities.
Here are ten things to know about ID Theft:
This document provides guidelines for security team members on how to handle various fraud-related situations, including chargebacks, hacked accounts, trapped accounts, scam victims, and documentation requirements. Procedures include templates for communicating with players, reviewing account histories and logins, untrapping associated accounts, and logging all actions in a shared tracking spreadsheet to report to management weekly. Key contacts are also listed for escalating urgent issues.
The C6 intelligence Fraud Glossary Whitepaper is a list of terms used within the fraud industry.
The glossary has 5 categories:
Definition
Crime
Law
Organization
Slang
Example:
Account Detection Rate
Definition -
The percentage of fraud cases or accounts that are detected. Since a fraud case may have more than one fraudulent transaction this number is generally higher than the transaction detection rate.
This current updated version has 315 entries
Splunk .conf2011: Real Time Alerting and MonitoringErin Sweeney
The document discusses Splunk's capabilities for monitoring and alerting. It describes how Splunk can help various IT roles like service desk, developers, and DBAs respond faster to issues compared to not using Splunk. It provides an overview of real-time searching, alerting, and the alert manager in Splunk. It also demonstrates how to create simple and advanced alerts, enable throttling, and check the alert manager.
Time to Think Differently: The case for changeThe King's Fund
Our Time to Think Differently programme has made the case for change and highlighted the trends that will influence the way health and social care is delivered in future.
To help you explore and share this work, we are creating a series of downloadable slidepacks. We hope that they will inform your thinking and discussions about the future of care.
The first pack in this series explores the pressures on the health and social care delivery system and why it needs to change to meet the challenges of the future.
IBM Monitoring and Event Management SolutionsIBM Danmark
This document discusses IBM's monitoring and event management solutions including IBM Tivoli Monitoring, IBM Event Management, and IBM Business Service Management. It provides an agenda for the Nordic Pulse conference on May 28-29 including presentations on new technologies, IBM monitoring solutions, customer examples, and more. Specific topics covered include IBM Tivoli Monitoring dashboards, IBM SmartCloud Monitoring, IBM SmartCloud Application Performance Management, benefits of analytics, and solutions for monitoring workloads in cloud environments.
This is the way I like to present my web traffic reports.
Please if you have any doubt of comment share it with me, it will help to improve my work.
Thank you very much!!
E
PS: It looks better if you download it ;)
IBM Netcool Operations Insight combines proven Operations Management and Alarm consolidation capabilities with innovative analytics to help clients empower their IT operations staff to rapidly identify, isolate and resolve problems before they impact their company's business services
The document discusses the benefits of a new centralized inventory system in Oracle R12 for companies that do both process and discrete manufacturing. It allows such hybrid manufacturers to operate with a single item master and inventory system. This unified system reduces redundant data and maintenance while improving inventory visibility and supply chain integration. It also enables process manufacturers to engage in available-to-promise checking while respecting quality processes through new inventory status attributes.
This document provides a feature matrix comparing the monitoring solutions AdRem NetCrunch and AccelOps. Both solutions offer IP SLA reports, logical grouping, trending, auto discovery, SNMP support, syslog support, plugins, alerts, full viewing and acknowledgment capabilities, distributed monitoring, inventory tracking, and support applications and IPv6. The key differences are that AccelOps offers trend prediction, agent support, and PostgreSQL data storage while AdRem offers unknown platform, data storage in SQL, and unknown access control. Both solutions are commercial products.
Want to view and control your internet traffic?
With NetScope you can easily monitor and view your network traffic in full graphical format. Look at live data in per second resolution, then drill down and zoom in on any part of that traffic you like.
Then Shape it! Prioritize important data, give lower priority to less important data and BLOCK data that should not be on your network.
The document provides an overview of Six Sigma, including:
1) It defines Six Sigma as a methodology for continuous improvement and creating high quality products and processes using statistical tools.
2) It discusses the origins and growth of Six Sigma at Motorola and GE in the 1980s-1990s.
3) It describes the DMAIC methodology used for process improvement projects and the roles of Master Black Belts, Black Belts, and Green Belts in a Six Sigma organization.
The document discusses how to build a case for change within an organization. It explains that a clear vision of the future state is important, including what products/services, technology, operations, structure, and stakeholder interactions will be like. A case for change should introduce the driver for change, what type of change it is (developmental, transitional, or transformational), and address questions about the scope, strategy alignment, stakeholders, sponsorship, benefits, resources, risks, dependencies, impacts, success factors, feedback, and success measurement. Communicating the case through storytelling can help stakeholders envision the future state. Gaining support involves engaging stakeholders in dialogue to understand concerns and build trust early in the change process.
How to Design a Sales Process for B2B Sales - #1 Tool for the Dream Sales Team Daniel Nilsson
How Can You Grow & Develop Your Sales Pipe If You Don’t Know What You’re Doing? Learn how to design your B2B sales process and increase conversion, get bigger deals and close your deals in less time. I will give you the key steps, the right focus and example of tools that will take your sales team to a new level.
You should read this presentation if you believe in your own and your team's growth.
Personally, I have a deep passion for Growth and I created this presentation after doing extensive research on how I could grow sales into new levels. The data I have reviewed are from marketing experts, sales experts, Gartner, reports and my own personal experience defining sales processes in multiple verticals.
Please feel welcome to share your thoughts, insights or comments. I love feedback. You can send an email to info@daniel-one.com or visit my webpage www.daniel-one.com. I look forward to hearing from you.
How to Safeguard Your Business from Payment Fraud _ Regions Bank.pdfBhekumuzi Xaba
This document provides information on how businesses can protect themselves against payment fraud. It begins by stating that payment fraud is a widespread issue according to a 2021 survey. The real estate industry is a particularly appealing target for fraudsters due to large transaction amounts, public records access, email impersonation risks, and lack of authentication processes. Examples of real estate payment fraud are then described, including internal fraud, wire fraud, and credit card fraud. The document concludes by outlining steps businesses can take to safeguard themselves, such as training employees, monitoring for suspicious emails, implementing dual approval processes, avoiding paper checks, and practicing strong cybersecurity and account monitoring.
Insurance today is considered both as a form of security and investment. It gives a sense of assurance to its client- the courage to mitigate unforeseen mayhem in life. But with the influx of fraudulent activities and felony across various industries, the insurance sector stands to be no exception. One of the ways that miscreants try to get money from insurance companies is through Insurance Claims Fraud
An estimated 74% of organizations face payment fraud attempts every year, with efforts increasing in sophistication. In this session, Kyriba will present best practices in fraud prevention and detection, including application security, workflow controls, securing bank connectivity, and improving payment controls through real-time fraud detection and prevention.
Information Compromise and the Risk of Identity Theft Guidance for your Business- Mark - Fullbright
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Looking for the top tools to fight chargebacks? Here is the first part of an extensive list of software you can use to prevent the chargebacks - https://goo.gl/e1MrA9
Start accepting payments on your website →→→ https://bit.ly/2xIN1Oj
This document provides an overview of the key challenges involved in facilitating payments on a platform. It discusses regulatory challenges like anti-money laundering laws, know your customer requirements, and money transmission licenses. It also covers card network compliance requirements regarding payment aggregation, PCI data security standards, and convenience fees. Overall, the document outlines the complex regulatory landscape and technical requirements payment facilitators must navigate.
How really to prepare for a credit card compromise (PCI) forensics investigat...Security B-Sides
The document discusses preparing for a PCI forensic investigation following a payment card data breach. It provides lessons learned from over 100 card compromise investigations, including what merchants can expect from the process, who the key stakeholders are, and common trends seen in breaches. Merchants are advised to have an incident response plan in place, know their responsibilities, work with qualified forensic experts and lawyers, and notify all necessary parties immediately in case of a breach.
This document provides information on various compliance risks including phishing, proliferation financing, bribery, anti-competitive practices, and corruption. It discusses how phishing exploits human psychology to trick users into clicking malicious links or providing sensitive information. It also summarizes regulatory updates from Vietnam imposing stricter rules on gifts received by public officials and restrictions on former officials joining certain companies. The document interviews the head of the OECD Anti-Corruption Division on how technology both enables corruption through means like cryptocurrency but can also help address it through tools like blockchain and AI if balanced with human judgment. Throughout, it emphasizes the need for organizations and individuals to maintain vigilance against various illicit activities.
Fraudulent emails are crafted to seem legitimate, like messages from your bank or another trusted source. They request personal information, which criminals then use for fraud.
Nowadays the payment fraud landscape is changing quite fast. Changing from classic schemes as bank cheque fraud, faked manual payment orders to organized crime with corporates as targets
Find out how to protect your petroleum retail assets from cyber attacks and discover 6 steps to take once you uncover a hack, how to notify data breach victims, what to do if you discover malware, red flags to watch for on social media, and more!
Tackling Fraud and Compliance in Performance Marketing - Heiko Hildebrandtauexpo Conference
This document discusses fraud in performance marketing and how an affiliate network called TT tackles different types of affiliate and merchant fraud. It defines various forms of affiliate fraud like click fraud, fake orders, and cookie dropping. It also defines merchant fraud such as arbitrary cancellations and delayed payments. The document then outlines the strategies TT uses to tackle these fraud types, which include manually approving affiliates, using click filters, requiring proof for cancellations, and having contract penalties for tracking issues. The overall role of the affiliate network in promoting transparency and compliance is also summarized.
Winning the war on cybercrime keys to holistic fraud prevention CMR WORLD TECH
The document discusses keys to developing a holistic fraud prevention platform for financial institutions. It describes how cybercriminals are evolving attacks to target customer, employee, and criminal devices. A successful platform needs extensive coverage across attack vectors, near real-time intelligence to track emerging threats, adaptable controls that can respond quickly to changing tactics, and transparent protection that does not disrupt customers. The IBM Security platform addresses these keys through technologies that can detect malware, correlate device and account data to identify fraudulent access attempts, and rapidly update protections without involving bank resources.
nTrust’s P2P Money Transfer Service Puts Security First
In this case study you’ll learn how:
Shared global intelligence stops financial fraud
Device recognition offers advanced fraud intelligence to evaluate risk
Business rules can be easily customized for powerful, specific use case results
nTrust lets customers send money instantly from any location using a smartphone, tablet or computer. Fraudsters target money transfer services to open up accounts using stolen credit cards, add money, and then quickly transfer the money out. nTrust uses iovation’s sophisticated device recognition technology to access a globally-shared, cross-industry consortium of 2.5 billion devices and 25 million client-reported fraud records to evaluate risk up front in real-time and stop fraud.
This research paper analyzes ATM fraud, including cash withdrawal fraud, fund transfer fraud, password hacking, and pin misplacement. The paper proposes combining biometric identification like thumbprint scans with PINs to authenticate ATM users and reduce fraud. Currently, fraudsters can use stolen card information and PINs obtained through phishing emails to commit ATM fraud. The paper suggests designing ATMs with integrated biometric scanners without slowing down transaction speeds to strengthen security.
This document provides information on identity theft prevention, including types of identity theft, what information is at risk, and tips to reduce risk. It discusses common methods of identity theft like fake public WiFi networks, social media mining, and phishing scams. It also outlines steps to take if identity theft is suspected, such as placing fraud alerts, obtaining credit reports, filing reports with the FTC and police, and identity theft protection services that monitor credit and personal information.
Protecting Your Organization Against Check and ACH FraudFraudBusters
Webinar series from FraudResourceNet LLC on Preventing and Detecting Fraud in a High Crime Climate. Recordings of these Webinars are available for purchase from our Website
This Webinar focused on the subject in the title
FraudResourceNet (FRN) is the only searchable portal of practical, expert fraud prevention, detection and audit information on the Web.
FRN combines the high quality, authoritative anti-fraud and audit content from the leading providers, AuditNet ® LLC and White-Collar Crime 101 LLC/FraudAware.
The two entities designed FRN as the “go-to”, easy-to-use source of “how-to” fraud prevention, detection, audit and investigation templates, guidelines, policies, training programs (recorded no CPE and live with CPE) and articles from leading subject matter experts.
FRN is a continuously expanding and improving resource, offering auditors, fraud examiners, controllers, investigators and accountants a content-rich source of cutting-edge anti-fraud tools and techniques they will want to refer to again and again.
The document discusses IBM's Counter Financial Crimes Management solution which uses advanced analytics to help financial institutions combat financial crimes like fraud and money laundering. It provides entity analytics to help banks gain a clearer understanding of their customers, relationships, and hidden patterns. This includes identity resolution to determine who customers really are, relationship resolution to uncover complex relationships, and multilayered analytical processing to evaluate transactional behavior and compliance risks. The solution aims to help banks strengthen their anti-money laundering programs and meet increasing regulatory requirements.
FraudDECK includes pre-packaged business workflows for transaction surveillance across ATM & POS channels. It can be extended to facilitate surveillance of fraudulent transactions on other channels like mobile banking or payment transactions like Wire fraud or AML. For more information please visit: http://www.esq.com/transaction-surveillance/
Making Mortgage Payments in CU*BASE and It's Me 247cuanswers
The document provides a visual demonstration of special features for handling payments on CU*BASE mortgage loans with a 360-day interest calculation type in teller processing and online banking (It's Me 247). It demonstrates scenarios for making payments that are more than the regular amount, principal-only payments, payments on delinquent loans, and making regular payments when a loan cannot be paid ahead. It also discusses configuring options to match participation partners and control delinquent loan payments online.
This document provides an overview of the ATM and debit card maintenance screens in CU*BASE. It discusses the three main entry screens used for card maintenance and how to access the account view and card view screens. It then answers eight frequently asked questions about how to perform various card maintenance tasks, such as ordering a new card, reordering an existing card, changing a card's status, closing a card, and viewing card activity history.
Ed is a dedicated employee at a credit union who likes to stay informed about industry news and updates. However, he finds it difficult to keep up with everything. Using online tools like RSS feeds allows important information to come directly to his desktop. This makes it easier for Ed to do his job. Ed also uses online resources like CreditUnions.com to learn about industry news and collaborates with peers on ideas using tools like an internal intranet and the Ownership Community.
The document summarizes the key topics and announcements from the 2008 Annual Leadership Conference of CU*Answers. It discusses the winner of a photo contest, topics covered at the conference including navigating the current economic challenges and opportunities for credit unions. It provides an overview of recent investments and enhancements to CU*Answers products and services including online banking, lending tools, collections capabilities and planning for patronage dividends. It previews upcoming projects like the "ATM Pause for a Cause" initiative to modernize the debit card platform.
This document summarizes topics from a CEO strategies week hosted by CU*Answers. It discusses CU*BASE tools CEOs should be familiar with to understand member data and lead meetings. It also summarizes strategies CU*Answers is pursuing, such as driving membership engagement, understanding service income, networking credit unions, and ensuring favorable contracts. The document concludes by discussing 2007 CU*BASE releases that could inform business plans and changes CEOs should prepare for in 2008, including online banking enhancements and the need for collaborative leadership.
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
1. FraudNet can help protect
your credit union and your
members from potentially Credit unions using EasyPay powered by
devastating loss. Fiserv can now enjoy the benefits of
FraudNet.
FRAUDNET
ALERT TRAINING
Upon completion of this
training, you will be able to
understand, prioritize, and
respond to FraudNet alerts you
receive from the SettleMINT EFT
team.
2. WHAT IS FRAUDNET?
FraudNet is a cutting-edge fraud-detection system that identifies
fraudulent bill pay activity in real time using a complex set of
algorithms.
This state-of-the-art fraud-detection tool also helps credit unions
meet FFIEC requirements to monitor suspicious activity on high-
risk accounts.
3. HOW DOES FRAUDNET WORK?
The FraudNet Detection Engine identifies unusual bill pay activity by
gathering the following types of data from payments scheduled through
bill pay:
Behavioral data
Predefined rules are used to target specific types of behaviors that have been
associated with previous fraud. Each rule is assigned a code to help the
investigator determine why an alert was triggered and how the investigation should
be approached.
Negative data
Extracted from confirmed fraud cases, this data is used to detect repeat
occurrences of fraud.
Statistical data
This data permits FraudNet to detect and return more
negative alerts.
4. COMMON TYPES OF FRAUD
The definitions below are provided to help you better understand common
types of fraud detected by the FraudNet Detection Engine.
Electronic kiting
The perpetrator uses a funding account with
limited or no funds to process payments via bill pay.
Phishing
This is the practice of luring unsuspecting Internet users to a fake website by
using authentic-looking email with the real organization’s logo in an attempt to
steal passwords and financial or personal information, or to introduce a virus
attack.
5. COMMON TYPES OF FRAUD (continued)
The definitions below are provided to help you better understand
common types of fraud detected by the FraudNet Detection
Engine.
Man in the browser
Related to “man in the middle,” described below, this is a Trojan horse that
infects a web browser and has the ability to modify pages, change transaction
content, or insert additional transactions, all in a completely covert fashion
invisible to both the consumer and the host application. These types of
attacks can be successful whether or not security mechanisms such as
SSL/PLI and/or multi-factor authentication solutions are in place. The only
way to counter these types of attacks is to use transaction verification.
Man in the middle
The perpetrator funnels communication between a consumer and a legitimate
organization through a fake website. In these attacks, neither the consumer
nor the organization is aware that the communication is being illegally
monitored. The criminal is in the middle of a transaction between the
consumer and his or her bank, credit card company, or retailer.
6. COMMON TYPES OF FRAUD (continued)
The definitions below are provided to help you better understand common
types of fraud detected by the FraudNet Detection Engine.
Third-party receiver of funds
A person who transfers money and reships high-value
goods that have been fraudulently obtained in one
country, usually via the Internet, to another country,
typically where the perpetrator lives.
Trojan horse
A program that installs malicious software (malware) on a consumer’s
computer without their knowledge. Trojan horses often come in links or as
attachments from unknown email senders. Once installed, the malicious
software can detect the consumer’s access to online banking sites and record
their username and password, which is then transmitted to the perpetrator.
7. WHAT IS A FRAUDNET ALERT?
FraudNet harnesses the power of collaboration by offering users the
ability to post instant alerts and maintain a black list shared and
viewable by financial institutions across the nation.
When the SettleMINT EFT team receives a FraudNet alert that
pertains to a transaction relating to one of your members, they will
use AnswerBook to pass this alert on to your credit union’s FraudNet
contact, who will then need to use the Alert Priority List (referenced
on Slides 9-14) to prioritize the alert in case there are others that also
need to be researched.
Once the alert is prioritized, your credit union’s FraudNet contact will
then need to research the transaction referenced in the alert to
determine whether or not it is fraudulent.
Once the legitimacy of the transaction has been determined, your
FraudNet contact will need to reply through AnswerBook to request
that the transaction be processed or stopped/returned.
8. ALERT TIMELINE
If there is an alert that requires your attention, the SettleMINT EFT team
will notify you via AnswerBook during one of the two time periods listed
below. Also listed below is the time at which they’ll need your response
on whether or not to process the transaction referenced in the alert.
Between 8-9 AM ET (Respond by 2 PM ET same day.)
Between 2-3 PM ET (Respond by 8 AM ET next day.)
Note: Cases will not be worked on weekends and holidays.
It is extremely important that you respond to the SettleMINT
EFT team via AnswerBook by the times listed above as we cannot
make the decision on your behalf regarding whether to process
or stop the transaction. If we do not hear from you with a decision by
the times indicated above, then:
The payment will remain on hold for up to 5 business days.
After that, the payment will be cancelled, in which case the payment would not be
delivered and the member could receive late fees/penalties.
9. ALERT PRIORITY LIST
FIRST PRIORITY
Negative List – DDA: The subscriber’s bank account number is on a
list of bank accounts associated with confirmed cases of fraud.
Negative List – Email: The subscriber’s email address is on a list of
email addresses associated with confirmed cases of fraud.
Negative List – Payee Account #: The subscriber’s account number
with the payee is on a list of payee account numbers associated with
confirmed cases of fraud.
Negative List – SSN: The subscriber’s Social Security Number is on
a list of Social Security Numbers associated with confirmed cases of
fraud.
When a Social Security Number is added, all payments made by that subscriber
are alerted in FraudNet.
Prior to adding a Social Security Number to the Negative List, you must obtain a
“Declaration of Fraud,” which is a letter stating that the subscriber never has and
never will use bill pay.
Negative List – ZIP + 11: The payee’s 11-digit ZIP code is on a list of
payee address zip codes linked to confirmed cases of fraud.
10. ALERT PRIORITY LIST
FIRST PRIORITY (CONTINUED)
Manual Alert: This is externally reported fraud that FraudNet
missed or that failed to trigger an alert. It’s generated by the
sponsor to notify Fiserv of the missed data.
Manual Alert Search: A sponsor using FraudNet generated an
alert for an item that was linked to confirmed fraud data (generally
associated with email address, ZIP code, or payee account
number).
It is crucial that these accounts be entered into the FraudNet system so fraud
analysts can track and modify client-scoring parameters in the event their
detection statistics begin to drop.
Quick Hitter Rule: Multiple payments have been made to a newly
added payee.
11. ALERT PRIORITY LIST
SECOND PRIORITY
Subscriber Info Change: The subscriber’s email address has recently
changed.
Personal Payments Receiver Velocity: This measures velocity of
transactions and cumulative dollar amounts received by an
individual. Sponsors subscribing to ZashPay should work with their
fraud specialist to establish the appropriate velocity and amount
thresholds.
Personal Payment Sender Velocity: This measures velocity of
transactions and cumulative dollar amounts sent by an individual.
Sponsors subscribing to ZashPay should work with their fraud
specialist to establish the appropriate velocity and amount
thresholds.
A2A Velocity: This monitors the velocity of account-to-account
transfers being made by a specific subscriber. Variables are
dependent on the specific business unit’s needs.
12. ALERT PRIORITY LIST
SECOND PRIORITY (CONTINUED)
Account Transfers Sleep: This monitors for previously created
transactions being scheduled on a previously dormant account.
Bust-Out: The subscriber is attempting to make a
payment to a recently added payee, and the payee’s
address is located near the subscriber’s address.
Bust-Out II: The subscriber is attempting to make a
payment to a recently added payee, and the payee’s address is
located far from the subscriber’s address.
Model: This is a statistical rule that is usually triggered by payment
size. This is usually a large payment with a small chance of fraud.
13. ALERT PRIORITY LIST
THIRD PRIORITY
DDA = Payee Account #: This monitors for transactions where the
funding account matches the receiving or payee account number.
This rule monitors both electronic and paper transactions.
MOE (Merchant Online Enrollment): This rule monitors all newly
established MOE merchant payments in the Fiserv system. Verify
the payment with the subscriber.
MOE was a process created at Fiserv that allowed unmanaged, non-common
payees to become electronically enabled. This program is no longer being
used, but fraud mitigation practices still exist to monitor MOE merchants who
are still electronically enabled within the Fiserv bill payment network.
14. ALERT PRIORITY LIST
THIRD PRIORITY (CONTINUED)
Managed Velocity Payment: This is an optional rule used to
monitor velocity of payments within a particular industry or set of
industries. Contact your assigned fraud specialist to establish the
thresholds for this velocity rule. For example, this rule helps
detect multiple payments being transmitted to various
credit card numbers, not just the same number.
Transfer Monitor: This monitors newly created
account-to-account transfers, timeframes, and
amount thresholds per business unit specifications.
Bank by Mail: This monitors transactions being remitted directly to
financial-institution branches for deposit into a checking account.
Effective fall 2011
15. ALERT RESEARCH TIPS
The tips below are guidelines for researching a transaction flagged in a
FraudNet alert. Please note that these are just recommendations and there
may be additional research required to determine whether or not a
transaction is fraudulent. When researching or making a decision on a
transaction referenced in a FraudNet alert, please follow your credit union’s
fraud/identity theft procedures.
1. Evaluate the transaction against normal member activity for the
past three months.
Why? If the transaction is out of the member’s norms, this could be a sign of
fraud.
How? From Member Inquiry, click the Transaction Activity button.
2. Review the open date of the membership or sub-account.
Why? If the membership/sub-account was recently opened or if it was opened
a long time ago with no activity until recently, this could be a sign of fraud.
How? Within Member Inquiry, the membership open date will be listed in the
top right corner of the Contact Information tab. The sub-account open date will
be listed in the top right corner of the Member Account Inquiry screen,
accessed by clicking the sub-account and then Select.
16. ALERT RESEARCH TIPS (CONTINUED)
The tips below are guidelines for researching a transaction flagged in a
FraudNet alert. Please note that these are just recommendations and there
may be additional research required to determine whether or not a
transaction is fraudulent.
3. Review documents used at account opening
(i.e. copy of driver’s license).
Why? If the member’s ID looks fake or suspicious, this
could be a sign of fraud.
How? Follow your specific credit union procedures for where these documents
are stored.
4. Review the member’s credit report.
Why? If the credit score has suddenly plunged, this could be a sign of fraud.
How? From MNLOAN #1-Process Member Applications, enter the account
base and press Enter. Then type in action code VC and press Enter. Select the
report and click View Report.
17. ALERT RESEARCH TIPS (CONTINUED)
The tips below are guidelines for researching a transaction flagged in a
FraudNet alert. Please note that these are just recommendations and there
may be additional research required to determine whether or not a
transaction is fraudulent.
5. Review any changes in contact information and by whom the
changes were made.
Why? Identity thieves often change contact information to reroute mail to
themselves.
How? Go to MNAUDT #24-Audit File Maintenance.
6. If, after performing the above research, you determine it’s likely
that the transaction is fraudulent, contact the member to verify
the legitimacy of the transaction.
Tip: Use any previous contact information that may
exist for the member to reduce the chances of contacting
the identity thief.
18. ALERT RESEARCH TIPS (CONTINUED)
The tips below are guidelines for researching a transaction flagged in a
FraudNet alert. Please note that these are just recommendations and there
may be additional research required to determine whether or not a
transaction is fraudulent.
X
If you determine that the If you determine that the
transaction is legitimate and transaction is fraudulent and
you want the SettleMINT EFT you want the SettleMINT EFT
team to proceed with the team to deny the
transaction, respond via transaction, respond via
AnswerBook with instructions AnswerBook with instructions
to process the transaction. to stop or return the
transaction.
For response deadlines, refer to timeline on Slide
8.
19. THANK YOU FOR ATTENDING THIS
WEB CONFERENCE.
REMINDER
Please contact us no later than Friday, March 1 with the
names and contact information of three FraudNet
contacts from your credit union so that we always have
someone to speak with regarding transactions referenced
in FraudNet alerts and so that your timely response to our
alerts is ensured.