The document discusses collaboration between the prepaid card industry and law enforcement to combat fraud and cybercrime. It describes obstacles to collaboration between industries and law enforcement, including different views of the scope of problems and available resources. It provides examples of the National Cyber Forensic Training Alliance's (NCFTA) successes in enabling information sharing that has led to arrests. Industry best practices for responding to law enforcement requests are also discussed.
This document provides an overview of a course on data warehousing, decision support, and data mining. It discusses data warehousing architectures and how data is extracted, transformed, and loaded from various sources into the data warehouse. It also covers operational vs analytical systems and challenges with data quality and integration when loading the warehouse. Examples from Walmart's data warehouse implementation are provided.
Trendcasting for 2019 - What Will the Tuture of Tech HoldBrian Pichman
Join Brian Pichman of the Evolve Project as he highlights this year’s most significant technology trends and what it means for 2019. What changes are on the horizon? What technologies falling to the wayside? What technologies are on the verge of significant changes? What technologies should we expect to see flourish in the upcoming year?
This presentation is an exploration of what Information Technology will look like in 2021. We have spread our predictions across three categories: IT Trends, IT Practice and Impacts on Everyday Life.
TULI eServices has extensive experience in all aspects of Web Application Development. Whether you’re migrating an existing business application to the Web or are planning a completely new project, TULI eServices will provide the guidance and experience you need.
Blockchain, IoT and AI are foundational to the Fourth Industrial Revolution -...David Terrar
Blockchain, IoT, and AI are foundational technologies for the fourth industrial revolution. The document discusses each technology and argues they should be factored into business planning. Blockchain allows trust between parties without intermediaries. IoT connects devices that generate large amounts of data. AI is now practical due to advances in machine learning. Real-world examples show the technologies' benefits in industries like shipping, food supply chains, and manufacturing. Adoption is increasing as businesses recognize the opportunities these technologies provide.
Technology is completely changing the face of financial services, driving disruption, displacement and disintermediation within the sector. This has lowered the barriers to entry, opened the door to new market entrants and created fertile ground for innovation and growth.
These market disruptions have also forged new alliances between start-ups and incumbents, blurring the lines of distinction between finance and technology and creating a wave of cross-sector collaboration.
Fintech 2018 will explore technological innovation across the financial services sector, from developments in established tier-1 firms to the disruptive innovators within the start-up community that are reshaping the FS market.
Core conference topics will include:
• Landscape: Trends, Culture, Trust, Transparency, Geo-political Climate
• Regulation: GDPR, MiFID II, PSD2, Open Banking, APIs
• Customer Strategy: Engagement, UX, Data Insight, Marketing & ML
• Emerging Tech: Blockchain, Analytics, AI, Payments, Automation
• National Strategy: Skills, Funding, Collaboration, Cyber Security
• Infrastructure: IT, Digital, Cloud, Mobile, XaaS
This document provides an overview of a course on data warehousing, decision support, and data mining. It discusses data warehousing architectures and how data is extracted, transformed, and loaded from various sources into the data warehouse. It also covers operational vs analytical systems and challenges with data quality and integration when loading the warehouse. Examples from Walmart's data warehouse implementation are provided.
Trendcasting for 2019 - What Will the Tuture of Tech HoldBrian Pichman
Join Brian Pichman of the Evolve Project as he highlights this year’s most significant technology trends and what it means for 2019. What changes are on the horizon? What technologies falling to the wayside? What technologies are on the verge of significant changes? What technologies should we expect to see flourish in the upcoming year?
This presentation is an exploration of what Information Technology will look like in 2021. We have spread our predictions across three categories: IT Trends, IT Practice and Impacts on Everyday Life.
TULI eServices has extensive experience in all aspects of Web Application Development. Whether you’re migrating an existing business application to the Web or are planning a completely new project, TULI eServices will provide the guidance and experience you need.
Blockchain, IoT and AI are foundational to the Fourth Industrial Revolution -...David Terrar
Blockchain, IoT, and AI are foundational technologies for the fourth industrial revolution. The document discusses each technology and argues they should be factored into business planning. Blockchain allows trust between parties without intermediaries. IoT connects devices that generate large amounts of data. AI is now practical due to advances in machine learning. Real-world examples show the technologies' benefits in industries like shipping, food supply chains, and manufacturing. Adoption is increasing as businesses recognize the opportunities these technologies provide.
Technology is completely changing the face of financial services, driving disruption, displacement and disintermediation within the sector. This has lowered the barriers to entry, opened the door to new market entrants and created fertile ground for innovation and growth.
These market disruptions have also forged new alliances between start-ups and incumbents, blurring the lines of distinction between finance and technology and creating a wave of cross-sector collaboration.
Fintech 2018 will explore technological innovation across the financial services sector, from developments in established tier-1 firms to the disruptive innovators within the start-up community that are reshaping the FS market.
Core conference topics will include:
• Landscape: Trends, Culture, Trust, Transparency, Geo-political Climate
• Regulation: GDPR, MiFID II, PSD2, Open Banking, APIs
• Customer Strategy: Engagement, UX, Data Insight, Marketing & ML
• Emerging Tech: Blockchain, Analytics, AI, Payments, Automation
• National Strategy: Skills, Funding, Collaboration, Cyber Security
• Infrastructure: IT, Digital, Cloud, Mobile, XaaS
The document provides an overview of digital marketing and e-commerce trends. It discusses key concepts such as digital marketing, types of e-commerce like business-to-business and business-to-consumer, the growth of mobile commerce, and social media marketing platforms like Facebook and Twitter. Examples of typical marketing campaigns on Facebook and Twitter are also summarized.
The national Scot-Secure Summit is the largest annual Cyber Security event in Scotland: the event brings together senior IT leaders and Information Security personnel, providing a unique forum for knowledge exchange, discussion and high-level networking.
The conference programme is focused on promoting best-practice cyber security; looking at the current trends, the key threats - and offering practical advice on improving resilience and implementing effective security measures.
Creative destruction versus Creative EvangelisationDinis Guarda
The document discusses the concepts of creative destruction and creative evangelization in the digital age. Creative destruction refers to the process of innovation replacing outdated products and processes, while creative evangelization involves using digital tools to spread information and potentially convert others to new beliefs. The author argues that in today's world of big data and algorithms, creativity may be humanity's means of thriving amid increased complexity, randomness, and "black swan" events. Leaders must learn to effectively manage and create intelligence from vast amounts of integrated data in order to connect emotionally with networks and evangelize creatively.
Internet of things presentation rick bouter - 16-09-2013 - sogeti - Part 1 ...Rick Bouter
The document discusses the Internet of Things (IoT), which connects physical objects through embedded technology to collect and exchange data and interact with both internal states and the external environment. While the concept was proposed as early as the 1920s, it is now gaining popularity due to several factors, including advancements in research, business needs to simplify processes, reduce costs and risks, and increase efficiency. The document argues that individual "things" are not truly smart on their own but can contribute to collective intelligence when connected through IoT.
Infographic | The Growing Need for Fast, Secure TelehealthInsight
Could telehealth be the way patients are triaged in the future? Let’s explore the current landscape, the benefits of telehealth and what’s needed for it to gain widespread traction across the industry.
2016.07.28 제65회 sw공학 technical_세미나(7월28일)_발표자료1(소셜컴퓨ᄐ...지훈 서
The document discusses several topics related to artificial intelligence and robotics. It describes how the global market for robots and AI is expected to reach $152.7 billion by 2020. It also discusses advances in machine learning, cloud computing, big data, and cognitive computing that are driving growth in AI. Finally, it notes both the opportunities and challenges of integrating AI and robotics technologies across various industries like healthcare, transportation, and manufacturing.
Blockchain the inception of a new database of everything by dinis guarda bloc...Dinis Guarda
Blockchain the inception of a new database of everything by Dinis Guarda blockchain age
Trends and questions?
1. Redefinition of banking and relation with Blockchain
Mobile App banking finance – mobile ledgers – blockchain identity
New products and the emergence of DAO products.
2. System Legacies in paralel with advanced tech - Ethereum.
3. Distribution Strategy in a new Digitalised World who own what.
4. Super computer Cloud base blochcain solutions / infrastructure.
5. Emergence of AI IOE in relation with blockchain all connected.
6. User Experience, UI, UE, Big data and the IOE blockchain touching.
7. Blockchain Cyber Security and Value Reinvention.
Digital Innovation - A framework of ImpactsMalcolm Ryder
Digital modes of IT-driven change are so varied that it is difficult to understand what an "enterprise" approach to coherent transformation is really based on. Researchers such as Archestra and Ventana offer a way to see the forest through the trees.
Veber FinTech Vs Banking consumer reportMarie Johnson
The Veber FinTech Consumer Survey was based on discovering user perceptions of Banking, a once stable and traditional industry landscape, in comparison to what we’re now seeing which is the ever changing innovative FinTech market. The survey focusses on the trends of FinTech and whether the face of traditional banking will change by 2020.
The white paper also includes video extracts from leading FinTech experts and an exclusive interview with
George Huntley, COO The Money Platform. George gives an in depth account of his FinTech startup journey and his views on the Banking industry and the rise of FinTech.
ICMAI Pune Digital Transformation and Data ScienceNiraj Vaidya
This document provides a summary of a presentation on digital transformation. It acknowledges that the content was compiled from various public sources for educational purposes without claiming copyright. Digital transformation has already begun to change how businesses operate and engage with customers. Key aspects include the digital customer journey, digital business operations, and digital foundations. Technologies like cloud computing, big data analytics, artificial intelligence, machine learning, internet of things, and digital platforms are driving new business models and opportunities for creating value.
I delivered a talk on application of Artificial Intelligence in Fintech to the visiting students of University of Applied Sciences, Wurzburg-Schweinfurt, Germany at Christ University
This document summarizes Mehmet Subaşı's presentation on the keys of the digital economy. The presentation outlines 7 keys: 1) start with strategy and understand customer needs, 2) create a dream team with various digital skills, 3) embrace change and be fast, agile and don't give up. It emphasizes the importance of the digital transformation and opportunities it provides but also cautions against hype and the importance of business fundamentals.
Uber has become a byword for the disruption of an entire industry with every new startup calling itself the ‘Uber of ______’.
What can we in banking and financial services learn from Uber and its fellow disrupters? How as established can we learn and innovate, to deliver better experiences to our customers? And how can we embrace disruption to beat out the wave of new fintech companies?
This webinar will look at:
Breakdown the types and elements of Uber-like disruption that apply to banking and financial services.
Examples of disruption and innovation.
The imperative to deliver innovative digital experiences.
What is required to deliver digital experiences that customers want to use.
Guest speaker on this topic is Simon Mathews, Chief Strategy Officer, Extractable. Regularly sought after to speak on innovation and experience topics, Simon leads the strategy and digital experience design teams at Extractable, a leading digital experience design firm based in San Francisco.
He is responsible for driving better outcomes for his clients’ customers, through the application of cutting-edge digital design techniques and innovative strategies. Simon’s team spans digital strategists, user-experience designers, content strategists and visual designers working in an agile methodology.
He has over 20 years of consultancy experience spanning communications, advertising, and digital agencies in Europe, Asia and the US. He has worked with both major corporations and startups around the world including AIA, ACE Group, AIG, ALICO, Autodesk, BOK Financial, BMO, Dell, Emirates Airlines, IBM, Juniper, Leapfrog, LVMH., Merrill Corporation, Micron, McAfee, Motif Investing, The Newport Group, Nokia, Reebok, St. Luke’s, Seagate, Southwest Airlines, Stanford healthcare, TD Bank, Ubisoft, ZoneLabs, and WL Gore.
Simon has visited 56 countries and is an avid kiteboarder, always seeking the next windy destination.
Disruption is the talk of the town - breakthrough technologies are, well, breaking through everywhere and everyday. What can firms do to mitigate the risk of being disrupted? By disruption! It's no easy task to 'eat oneself' and often there will be serious barriers (culture, technology etc.) for doing so. As we are moving fast from industrial production and economies of scale, economies of experience and service design become the critical assets: The customer experience! The customer experience must seek to integrate the digital with the physical. Your customers already swaps seamlessly between the two, so should you! With mobile as more than just another channel, customer experience must also focus on creating 'mobile moments' (of truth) where customer needs are foreseen and fulfilled across the omnichannel. Key is to provide a platform on which users can interact and co-create. Providing the winning platform will position you as the gatekeeper, 'owning' the customer (as the saying goes) and safe guard against new entrants and disruption. Enable collaboration to take this digital transformation the last steps.
Sogeti big data - no more secrets with big data analyticsRick Bouter
This document provides an introduction to the book "No More Secrets with Big Data Analytics". It discusses five main themes related to Big Data: 1) Acceleration of Big Data projects is important for competitive advantage. 2) Big Data transformation requires organizational change and overcoming resistance. 3) Issues of data ownership could challenge Big Data initiatives if individuals demand control over their personal data. 4) Privacy concerns are raised by increased data collection and analysis. 5) The Snowden revelations exposed widespread government surveillance and use of Big Data. The introduction sets up the context for the book which aims to provide insights on successfully applying Big Data analytics.
The national Scot-Secure Summit is the largest annual Cyber Security Conference in Scotland: the event brings together senior IT leaders and Information Security personnel, providing a unique forum for knowledge exchange, discussion and high-level networking.
The Summit is organised by DIGIT, with support from ScotlandIS, Police Scotland, SBRC, The Cyber Academy and ISACA. The conference programme is focussed on promoting best-practice cyber security; looking at the current trends, the key threats - and offering practical advice on improving resilience and implementing effective security measures.
4IR AI Blockchain Fintech IoT book presentation by Dinis GuardaDinis Guarda
4IR - AI Blockchain Fintech IoT
- Reinventing a Nation
- Book by Dinis Guarda and Rais Hussin, presentation by Dinis Guarda
Governments need to make sure society benefits from 4IR technological innovations and that these are led and harnessed by them, and not by big tech global titans or minimum work side by side in meaningful ways.
Let now be a new dawn on this front. Let this be our joint responsibility focus and pledge for a new era and create a new drive that uses, manages and controls this powerful set of 4IR Blockchain AI Fintech IoT technologies for our good. For, by, managed and controlled by Nations cooperating with each other, and the people.
Don’t fear the transformative power of 4IR change.
Embrace it, use its power to your own benefit.
Gene Villeneuve - Moving from descriptive to cognitive analyticsIBM Sverige
As the scope of big data rapidly expands, so does the scope of the analytics that are necessary to extract insight from that data. It is simply impossible for humans or indeed rules-based engines to take that information to action. More and more, clients need analytics to make the best decisions possible; or better yet, embed those analytics into processes to automate the decision-making process, which they simply the answers based on the questions being asked at the point of impact. In order to address these rapidly evolving needs, we need to ensure the right analytics capability are deployed to suit each situation, each point of interaction and each decision point within a process. Join this session, and learn how IBM can provide a solution for the varying types of analytics: from descriptive to predictive to prescriptive to cognitive.
This is the preso I'm giving at the Grand Conference in Amsterdam on Nov. 5th. It accompanies a new prototype of a "Citizen Dashboard" we're producing.
E-fraud involves the unlawful use of electronic means to misrepresent information and cause harm. The document discusses the types and techniques of e-fraud, including data theft, spoofing, and false websites. It also examines who is affected by e-fraud, including customers, sellers, and owners of intellectual property. Research on e-fraud has focused on areas like auction fraud and online deception. The document proposes frameworks for understanding the motivations for e-fraud and strategies for preventing and managing it.
The document provides an overview of digital marketing and e-commerce trends. It discusses key concepts such as digital marketing, types of e-commerce like business-to-business and business-to-consumer, the growth of mobile commerce, and social media marketing platforms like Facebook and Twitter. Examples of typical marketing campaigns on Facebook and Twitter are also summarized.
The national Scot-Secure Summit is the largest annual Cyber Security event in Scotland: the event brings together senior IT leaders and Information Security personnel, providing a unique forum for knowledge exchange, discussion and high-level networking.
The conference programme is focused on promoting best-practice cyber security; looking at the current trends, the key threats - and offering practical advice on improving resilience and implementing effective security measures.
Creative destruction versus Creative EvangelisationDinis Guarda
The document discusses the concepts of creative destruction and creative evangelization in the digital age. Creative destruction refers to the process of innovation replacing outdated products and processes, while creative evangelization involves using digital tools to spread information and potentially convert others to new beliefs. The author argues that in today's world of big data and algorithms, creativity may be humanity's means of thriving amid increased complexity, randomness, and "black swan" events. Leaders must learn to effectively manage and create intelligence from vast amounts of integrated data in order to connect emotionally with networks and evangelize creatively.
Internet of things presentation rick bouter - 16-09-2013 - sogeti - Part 1 ...Rick Bouter
The document discusses the Internet of Things (IoT), which connects physical objects through embedded technology to collect and exchange data and interact with both internal states and the external environment. While the concept was proposed as early as the 1920s, it is now gaining popularity due to several factors, including advancements in research, business needs to simplify processes, reduce costs and risks, and increase efficiency. The document argues that individual "things" are not truly smart on their own but can contribute to collective intelligence when connected through IoT.
Infographic | The Growing Need for Fast, Secure TelehealthInsight
Could telehealth be the way patients are triaged in the future? Let’s explore the current landscape, the benefits of telehealth and what’s needed for it to gain widespread traction across the industry.
2016.07.28 제65회 sw공학 technical_세미나(7월28일)_발표자료1(소셜컴퓨ᄐ...지훈 서
The document discusses several topics related to artificial intelligence and robotics. It describes how the global market for robots and AI is expected to reach $152.7 billion by 2020. It also discusses advances in machine learning, cloud computing, big data, and cognitive computing that are driving growth in AI. Finally, it notes both the opportunities and challenges of integrating AI and robotics technologies across various industries like healthcare, transportation, and manufacturing.
Blockchain the inception of a new database of everything by dinis guarda bloc...Dinis Guarda
Blockchain the inception of a new database of everything by Dinis Guarda blockchain age
Trends and questions?
1. Redefinition of banking and relation with Blockchain
Mobile App banking finance – mobile ledgers – blockchain identity
New products and the emergence of DAO products.
2. System Legacies in paralel with advanced tech - Ethereum.
3. Distribution Strategy in a new Digitalised World who own what.
4. Super computer Cloud base blochcain solutions / infrastructure.
5. Emergence of AI IOE in relation with blockchain all connected.
6. User Experience, UI, UE, Big data and the IOE blockchain touching.
7. Blockchain Cyber Security and Value Reinvention.
Digital Innovation - A framework of ImpactsMalcolm Ryder
Digital modes of IT-driven change are so varied that it is difficult to understand what an "enterprise" approach to coherent transformation is really based on. Researchers such as Archestra and Ventana offer a way to see the forest through the trees.
Veber FinTech Vs Banking consumer reportMarie Johnson
The Veber FinTech Consumer Survey was based on discovering user perceptions of Banking, a once stable and traditional industry landscape, in comparison to what we’re now seeing which is the ever changing innovative FinTech market. The survey focusses on the trends of FinTech and whether the face of traditional banking will change by 2020.
The white paper also includes video extracts from leading FinTech experts and an exclusive interview with
George Huntley, COO The Money Platform. George gives an in depth account of his FinTech startup journey and his views on the Banking industry and the rise of FinTech.
ICMAI Pune Digital Transformation and Data ScienceNiraj Vaidya
This document provides a summary of a presentation on digital transformation. It acknowledges that the content was compiled from various public sources for educational purposes without claiming copyright. Digital transformation has already begun to change how businesses operate and engage with customers. Key aspects include the digital customer journey, digital business operations, and digital foundations. Technologies like cloud computing, big data analytics, artificial intelligence, machine learning, internet of things, and digital platforms are driving new business models and opportunities for creating value.
I delivered a talk on application of Artificial Intelligence in Fintech to the visiting students of University of Applied Sciences, Wurzburg-Schweinfurt, Germany at Christ University
This document summarizes Mehmet Subaşı's presentation on the keys of the digital economy. The presentation outlines 7 keys: 1) start with strategy and understand customer needs, 2) create a dream team with various digital skills, 3) embrace change and be fast, agile and don't give up. It emphasizes the importance of the digital transformation and opportunities it provides but also cautions against hype and the importance of business fundamentals.
Uber has become a byword for the disruption of an entire industry with every new startup calling itself the ‘Uber of ______’.
What can we in banking and financial services learn from Uber and its fellow disrupters? How as established can we learn and innovate, to deliver better experiences to our customers? And how can we embrace disruption to beat out the wave of new fintech companies?
This webinar will look at:
Breakdown the types and elements of Uber-like disruption that apply to banking and financial services.
Examples of disruption and innovation.
The imperative to deliver innovative digital experiences.
What is required to deliver digital experiences that customers want to use.
Guest speaker on this topic is Simon Mathews, Chief Strategy Officer, Extractable. Regularly sought after to speak on innovation and experience topics, Simon leads the strategy and digital experience design teams at Extractable, a leading digital experience design firm based in San Francisco.
He is responsible for driving better outcomes for his clients’ customers, through the application of cutting-edge digital design techniques and innovative strategies. Simon’s team spans digital strategists, user-experience designers, content strategists and visual designers working in an agile methodology.
He has over 20 years of consultancy experience spanning communications, advertising, and digital agencies in Europe, Asia and the US. He has worked with both major corporations and startups around the world including AIA, ACE Group, AIG, ALICO, Autodesk, BOK Financial, BMO, Dell, Emirates Airlines, IBM, Juniper, Leapfrog, LVMH., Merrill Corporation, Micron, McAfee, Motif Investing, The Newport Group, Nokia, Reebok, St. Luke’s, Seagate, Southwest Airlines, Stanford healthcare, TD Bank, Ubisoft, ZoneLabs, and WL Gore.
Simon has visited 56 countries and is an avid kiteboarder, always seeking the next windy destination.
Disruption is the talk of the town - breakthrough technologies are, well, breaking through everywhere and everyday. What can firms do to mitigate the risk of being disrupted? By disruption! It's no easy task to 'eat oneself' and often there will be serious barriers (culture, technology etc.) for doing so. As we are moving fast from industrial production and economies of scale, economies of experience and service design become the critical assets: The customer experience! The customer experience must seek to integrate the digital with the physical. Your customers already swaps seamlessly between the two, so should you! With mobile as more than just another channel, customer experience must also focus on creating 'mobile moments' (of truth) where customer needs are foreseen and fulfilled across the omnichannel. Key is to provide a platform on which users can interact and co-create. Providing the winning platform will position you as the gatekeeper, 'owning' the customer (as the saying goes) and safe guard against new entrants and disruption. Enable collaboration to take this digital transformation the last steps.
Sogeti big data - no more secrets with big data analyticsRick Bouter
This document provides an introduction to the book "No More Secrets with Big Data Analytics". It discusses five main themes related to Big Data: 1) Acceleration of Big Data projects is important for competitive advantage. 2) Big Data transformation requires organizational change and overcoming resistance. 3) Issues of data ownership could challenge Big Data initiatives if individuals demand control over their personal data. 4) Privacy concerns are raised by increased data collection and analysis. 5) The Snowden revelations exposed widespread government surveillance and use of Big Data. The introduction sets up the context for the book which aims to provide insights on successfully applying Big Data analytics.
The national Scot-Secure Summit is the largest annual Cyber Security Conference in Scotland: the event brings together senior IT leaders and Information Security personnel, providing a unique forum for knowledge exchange, discussion and high-level networking.
The Summit is organised by DIGIT, with support from ScotlandIS, Police Scotland, SBRC, The Cyber Academy and ISACA. The conference programme is focussed on promoting best-practice cyber security; looking at the current trends, the key threats - and offering practical advice on improving resilience and implementing effective security measures.
4IR AI Blockchain Fintech IoT book presentation by Dinis GuardaDinis Guarda
4IR - AI Blockchain Fintech IoT
- Reinventing a Nation
- Book by Dinis Guarda and Rais Hussin, presentation by Dinis Guarda
Governments need to make sure society benefits from 4IR technological innovations and that these are led and harnessed by them, and not by big tech global titans or minimum work side by side in meaningful ways.
Let now be a new dawn on this front. Let this be our joint responsibility focus and pledge for a new era and create a new drive that uses, manages and controls this powerful set of 4IR Blockchain AI Fintech IoT technologies for our good. For, by, managed and controlled by Nations cooperating with each other, and the people.
Don’t fear the transformative power of 4IR change.
Embrace it, use its power to your own benefit.
Gene Villeneuve - Moving from descriptive to cognitive analyticsIBM Sverige
As the scope of big data rapidly expands, so does the scope of the analytics that are necessary to extract insight from that data. It is simply impossible for humans or indeed rules-based engines to take that information to action. More and more, clients need analytics to make the best decisions possible; or better yet, embed those analytics into processes to automate the decision-making process, which they simply the answers based on the questions being asked at the point of impact. In order to address these rapidly evolving needs, we need to ensure the right analytics capability are deployed to suit each situation, each point of interaction and each decision point within a process. Join this session, and learn how IBM can provide a solution for the varying types of analytics: from descriptive to predictive to prescriptive to cognitive.
This is the preso I'm giving at the Grand Conference in Amsterdam on Nov. 5th. It accompanies a new prototype of a "Citizen Dashboard" we're producing.
E-fraud involves the unlawful use of electronic means to misrepresent information and cause harm. The document discusses the types and techniques of e-fraud, including data theft, spoofing, and false websites. It also examines who is affected by e-fraud, including customers, sellers, and owners of intellectual property. Research on e-fraud has focused on areas like auction fraud and online deception. The document proposes frameworks for understanding the motivations for e-fraud and strategies for preventing and managing it.
Computer security is important for both individuals and businesses. A malware infection at Logan Industries spread to hundreds of computers in just a few days, costing the company tens of thousands of dollars to remedy. Common cyber threats include viruses, worms, Trojan horses, and social engineering. Users should be aware of phishing scams, strong password practices, and wireless security risks. Regular security awareness training and having a security plan in place are recommended for protecting systems and information.
An in-depth discussion of the key trends driving card-not-present transactions and the subsequent increase in demand for smart transaction security solutions; includes a detailed review of the various transaction security technologies and solutions available for merchants and issuers
The slides provides fundamental understanding of concepts, principles and issues in fraud risk management. It is a comprehensive summary of general knowledge and understanding about the fraud risk management.
The document provides a vision for cyber security in 2021, including emerging technologies, threats, and practices. It predicts that technologies like mobile computing, quantum computing, cloud computing, predictive semantics, and dynamic networks will impact cyber security. Threats will become more sophisticated through cyber warfare, crime, and activism. Cyber security practice will evolve to be more multi-dimensional and holistic through practices like cyber architecture and lifecycle management. A new lexicon for cyber security terms is also envisioned.
The document discusses cyber security awareness and promotes self-protection techniques. It outlines goals of promoting awareness, discussing how to secure personal information, and providing examples of protection software. It then discusses common security threats like malware, phishing, and social engineering and offers tools and best practices for protecting against them, including using antivirus software, enabling two-step verification, and employing encryption and VPNs when online.
This is a presentation that I shared with a group of College students on Cyber Security.
This was part of the Cyber Safe Tamil Nadu 2009 program organized jointly by NASSCOM, DSCI and the Tamil Nadu police.
The document is a briefing from the Department of State's Bureau of Diplomatic Security about social networking cyber security awareness. It discusses what social networking is, security concerns with social networking, examples of security issues in the news, and provides guidance on how to protect the Department and oneself while using social networking. The briefing covers topics like maintaining privacy settings, securing accounts, avoiding phishing attacks, and being aware of what is posted online.
This document discusses cyber crime and cyber law. It defines cybercrime as any illegal act committed using a computer network, and provides examples such as child pornography, threatening emails, identity theft, and software piracy. The document classifies cybercrimes as offenses against data/systems, content-related offenses, and copyright offenses. It also discusses the need for cyber law to address challenges in applying traditional law to computer-related crimes and technologies.
This document provides an overview of cyber law in India. It summarizes the Information Technology Act 2000, which provides the legal framework for electronic commerce and digital signatures. It outlines some key sections of the act related to digital signatures, cyber crimes, data privacy, penalties, and amendments made in 2008. Examples of cyber crimes in India are also briefly described. The summary is intended to convey the high-level purpose and scope of cyber law in India according to this document.
The Information Technology Act 2000 provides a legal framework for electronic commerce and digital signatures. It aims to facilitate electronic governance and amend various laws to apply in the digital context. The Act defines cyber crimes and sets penalties for offenses involving unauthorized computer access, cyber attacks, and tampering with digital records. It establishes authorities for issuing digital certificates and adjudicating cyber disputes, while limiting the jurisdiction of regular courts on technology-related matters.
Swift is a multi-paradigm programming language developed by Apple for iOS, macOS, watchOS, and tvOS. It was inspired by Objective-C, Rust, Haskell, Ruby, Python, C#, CLU, and other languages. The document discusses Swift's history, principles, syntax including variables, constants, data types, functions, closures, and control structures. It provides code examples and explanations of Swift's main features.
The document discusses the role of business intelligence in implementing anti-money laundering compliance software according to regulations introduced by the 2001 USA PATRIOT Act. It outlines requirements for financial institutions to establish anti-money laundering programs, conduct customer due diligence and file suspicious activity reports. The objectives are to help banks integrate data across divisions to identify suspicious transactions and comply with directives to prevent money laundering and terrorist financing.
Business Intelligence For Anti-Money LaunderingKartik Mehta
The document discusses anti-money laundering compliance software implementation following the 2001 enactment of the USA PATRIOT Act. Key points include:
- The Patriot Act delegated responsibility to FinCEN to set requirements for financial institutions to establish anti-money laundering compliance programs.
- Section 352(a) of the Patriot Act amended the Bank Secrecy Act to require financial institutions to establish anti-money laundering programs, including internal policies, a compliance officer, ongoing training, and independent audits.
- The objectives are to help businesses implement Patriot Act directives regarding information sharing about clients with suspicious activity and investigating client accounts and transactions for money laundering or terrorist funding possibilities.
You have probably heard of the major breach at the US retailer Target, in which 40m credit cards and their details were stolen. As with any incident of this magnitude, there are valuable lessons to be learned. One way to understand the breach more fully - to borrow a phrase from DeepThroat talking about the Watergate scandal in All The Presidents Men - is to follow the money.
This webinar will do just that. Using the Target breach as a real example, for which there is now much information in the public domain, we will detail what we know about how it happened. We will place particular emphasis on the money trail, not only in terms of how the bad guys turn the data into cash, but also who ends up footing the bill, the role insurance can play, and the resulting lawsuits and other repercussions (both the CEO and CIO of Target have resigned). As such, this webinar represents a powerful opportunity to learn first hand what really happens as a breach unwinds from a very respected professional who has been in the trenches for decades.
And here are three important take-aways from this highly informative webinar:
1. Why Chip and PIN is not foolproof
2. A detailed understanding of where the money goes post breach
3. Top tips for how firms must think differently about IR in the wake of Target-like incidents
Our featured speakers for this webinar will be:
- Ted Julian, Chief Marketing Officer, Co3 Systems
- Mark Rasch, Chief Privacy Officer, SAIC
Where security and privacy meet partnering tips for CSOs and privacy/complian...Compliancy Group
This webinar will identifying challenges in both the privacy and security offices, explaining the necessities of working together, and identify mutual goals, both within their departments and in the context of the rest of the business. It will include solutions and suggestions for working together and case studies/examples showing common mistakes as well as success stories of privacy and IT offices working together.
Panelists:
Gant Redmon, General Counsel and VP of Business Development, Co3 Systems
This presentation discusses leveraging data analysis to identify fraud patterns and issues. It provides an agenda that includes introducing current challenges, strategies for identifying fraud using analytics, data analytics concepts and sources, and examples of using analytics to identify vendor fraud, employee fraud, revenue manipulation, and foreign corrupt practices issues. Tools for analysis are also discussed.
How to Use Data Analytics to Detect Fixed Asset and Inventory FraudFraudBusters
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.
White-Collar Crime Fighter Newsletter Subscribe Now at No Cost!
FraudResourceNet has made the premier Anti-Fraud newsletter, White-Collar Crime Fighter freely available to all. All this is required is to complete the registration form with your work email address!
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Ten Essentials of Treasury Technology TMANE 2009rthompson89
The document discusses 10 essentials for selecting and implementing treasury technology: 1) Know your strategic vision and goals, 2) Understand current technology landscape, 3) Perform needs assessments, 4) Define desired future state, 5) Document critical needs, 6) Map treasury information flows, 7) Use a deliberate selection process, 8) Appropriately resource projects, 9) Establish strong project management, and 10) Justify projects before and after. It provides examples of how various organizations applied these essentials in implementing treasury workstation systems and improving processes.
Identity fraud costs billions globally each year and impacts millions. Current solutions are reactive and costly. Identity Checkpoint proposes an open platform and free app allowing individuals to actively authorize all transactions and asset usage, preventing fraud. They seek funding to develop and deploy their solution, with the goal of participating in every financial transaction process worldwide by providing identity authorization services.
Making ‘Big Data’ Your Ally – Using data analytics to improve compliance, due...emermell
This document summarizes a presentation on using data analytics for compliance, due diligence, and investigations. The presentation features four speakers: Raul Saccani of Deloitte, Dave Stewart of SAS Institute, John Walsh of SightSpan, and John Walsh of SAS Institute. It discusses challenges related to big data including volume, variety, and velocity of data. It provides examples of how financial institutions have used analytics for anti-money laundering model tuning and illicit network analysis. It also outlines the analytics lifecycle and considerations for adopting a proactive analytics strategy.
veryone's heard about the Target breach at the end of last year; some of you may have been affected. One way to understand this breach - to borrow a phrase from Deep Throat talking about the Watergate Scandal in "All The President's Men" - is to follow the money.
This webinar will do that. It will detail what we know about the Target breach and how it happened. But it will place particular emphasis on the money trail - not only in terms of how the bad guys turn the data into cash, but also who ends up footing the bill, the role insurance can play, the likelihood of lawsuits, and so on. As such, this webinar represents a powerful opportunity to learn what really goes down as a breach unwinds from a respected professional who has been in the trenches for decades.
Our featured speakers for this webinar will be:
- Ted Julian, Chief Marketing Officer, Co3 Systems
- Mark Rasch, Chief Privacy Officer, SAIC
Nasscom how can you identify fraud in fintech lending using deep learningRatnakar Pandey
- The document discusses using deep learning techniques like multilayer perceptrons (MLPs) to identify fraud in fintech lending.
- It provides an example of using an MLP on credit card transaction data, with minimal feature engineering, to classify transactions as fraudulent or normal. The model achieved over 99% accuracy and 87.4% AUC.
- Unsupervised techniques like autoencoders and recurrent neural networks (RNNs) are also proposed to detect anomalies in transactions and analyze behavioral patterns over time. These can help identify new fraud patterns.
The document summarizes key statistics about data loss incidents in 2013, including that over 2,000 incidents exposed over 800 million records. It outlines the typical stages companies go through after an incident and laws requiring preparation and response. The document provides a self-assessment for companies and best practices around security, forensics, communications, and international considerations for responding to a data breach. It emphasizes that companies should plan for an incident as regulatory requirements and costs can be significant for unprepared organizations.
Anti-Fraud and eDiscovery using Graph Databases and Graph Visualization - Cor...Neo4j
Investigating fraud often involves identifying suspicious patterns among mountains of uninteresting transactional data. A new partnership between Neo Technologies and Cambridge Intelligence allows fraud investigators and data analysts to uncover these patters far more easily. By combining the power of Neo4j's graph database and the visualization capabilities of KeyLines, a web-based graph visualization engine tightly integrated with Neo4j's data model, these investigators and analysts can visually drill down from aggregate data to the individual suspicious data elements quickly and without requiring significant technical expertise in query languages. This presentation will summarize the Neo Technology and Cambridge Intelligence partnership, discuss the technical integration between the two products, and demonstrate a number of different scenarios of uncovering fraud across multiple domains and data types.
This document summarizes the key points from a cybersecurity workshop presented by E. Andrew Keeney. The workshop covered the value of electronically stored data, common cybersecurity threats like hackers and rogue employees, best practices for prevention and response, and insurance options. Major data breaches are occurring almost weekly, costing companies hundreds of thousands of dollars on average. While many organizations remain complacent about cybersecurity, the consequences of a breach include loss of goodwill, reputation damage, and regulatory fines. The workshop emphasized employee training, strong access controls, encryption, insurance, and having an incident response plan to mitigate risks.
This document summarizes the key points from a cybersecurity workshop presented by E. Andrew Keeney. The workshop covered the value of electronically stored data, common cybersecurity threats like hackers and rogue employees, best practices for prevention and response, and insurance options. Major data breaches are occurring almost weekly, costing companies hundreds of thousands of dollars on average. While many organizations remain complacent about cybersecurity, the consequences of a breach include loss of goodwill, reputation damage, and regulatory fines. The workshop emphasized employee training, strong access controls, encryption, insurance, and having an incident response plan to mitigate risks.
Occupational Fraud and Electronic Evidence Investigationsgppcpa
This presentation is intended to raise awareness about occupational fraud, and provide a strong overview of electronic evidence investigations.
The course was presented by Jerry Murray, CPA CFE, CGMA and Lance Sloves, CCE & CCME. Jerry serves as the head of the Fraud and Forensics practice at GPP, as well as being a member of the attest team. He is the “go-to” professional on all issues relating to fraud and forensic accounting and has a vast understanding of accounting records, internal controls, asset tracking, GAAP application, financial problem solving, forensic investigations and financial statements.
Lance has advised hundreds of businesses and litigation professionals on Computer Forensics, eDiscovery and other technological issues relevant to the practice. He has completed hundreds of examinations globally and forensically imaged over 1,000 computers and devices. Lance has testified multiple times and is qualified as an Expert in the State of Texas in both Civil and Criminal matters, and Federal Court.
The Customer Engagement Roadmap - The Key to Increasing the Value of Your Membership Base
Want to increase your subscription site’s profitability? The Customer Engagement Roadmap will show you how!
This document contains a list of 14 single words, each beginning with a different letter, ranging from A to T. The words include various materials, colors, audio equipment and other nouns. Overall, the document presents an alphabetical listing of short single words from different semantic categories.
This document provides an overview of software quality assurance. It discusses key quality concepts, quality control, the cost of quality, and software quality assurance. It also describes formal technical reviews, statistical quality assurance, software reliability, and the components of a software quality assurance plan. The goal of software quality assurance is to achieve a high-quality software product through standards, reviews, testing, and other quality control measures.
The document describes JEEVA, a mobile application for recognizing, collecting, sharing, surveying, and exploring flora and fauna. The app allows users to take photos of plants and animals and upload them to the system for identification. If the photo is of a new species, the user can start a new section for it. Otherwise, the user can update existing details. The app is intended for academic, conservation, exploration, and nature lovers to study nature. It has features like image recognition of species, location-based species reporting, automatic species notifications, guides and checklists, article writing and sharing, and discussions. Potential users include students, researchers, tourists, Ayurvedic practitioners, conservation organizations, nature lovers
This document provides tutorials for learning Apex programming using the Force.com platform. The tutorials cover topics such as creating custom objects, using the Developer Console, creating sample data, defining classes, Apex language fundamentals like data types and variables, executing transactions, adding triggers, writing unit tests, and integrating Apex with Visualforce. The goal is to provide hands-on exercises to help developers learn the Apex language and how to develop applications using the Force.com platform. Completing the tutorials will equip developers with essential Apex programming skills.
Breaking Up is Hard to Do: Small Businesses’ Love Affair with ChecksVivastream
This document discusses small businesses' reliance on checks and the challenges they face in adopting electronic payments. It notes that small businesses write billions of checks per year at high costs. While checks meet their needs of being easy to use and widely accepted, electronic payments could offer benefits like cost savings and fraud protection. However, small businesses are often too busy with core operations to prioritize alternatives. The document also outlines hurdles small businesses face in using ACH or credit cards, such as navigating bank requirements and understanding fees. It suggests that businesses more open to electronic payments tend to have standardized payment processes or receive remittance data with payments.
Banks see Smart Commerce as a growing threat that could distance them from customers. Smart Commerce is defined as involving digital payment methods that simplify purchases and enriched communication between merchants and consumers using mobile technology. It is driven by demand from both consumers and merchants, and by large profit pools outside of just payments, particularly merchant sales promotions. Many banks believe Smart Commerce will become widespread within two years and pose the main risk of intermediating banks and reducing their relevance in consumer commerce.
This document summarizes key findings from a global consumer banking survey conducted by EY. Some of the main points include:
1. Customer advocacy and trust in their primary banking provider is high, driven largely by positive customer experiences. However, banks still have opportunities to improve certain aspects of the customer experience.
2. Convenience through digital banking channels is important to customers, but mobile banking features still lag online banking. Simplifying fees and communications remains a top priority.
3. Customers are generally satisfied with their primary bank but open to switching for better service or advice. Segmenting customers reveals opportunities for banks to better meet different needs.
4. Banks should focus on making banking simple and clear
This document summarizes the key findings from EY's 2014 Global Consumer Banking Survey. Some of the main points include:
1. Customer trust and advocacy are important drivers of growth for banks. Customers with complete trust in their primary bank are much more likely to recommend them.
2. Customer experience is a key factor influencing trust and advocacy. Customers cited how they are treated and quality of communications as important reasons for trust. Experience also influenced account openings and closings.
3. Banks can improve the customer experience by making banking simple and clear, providing helpful advice, and resolving problems well. Specifically, banks should improve fee transparency, mobile and online banking, and customer service.
Sereno is a fraud detection solution that uses image analysis and multi-source correlation modeling to identify check fraud. It integrates with existing image processing systems and analyzes check images using multiple recognition engines to flag potential fraud. Sereno reduces false positives and focuses analysts on a small number of suspect transactions. It builds databases of check stock and signatures over time to improve accuracy. Sereno provides cost savings through reduced manual review and losses from fraud while allowing banks to expand their fraud detection capabilities.
Orbograph's new Accura XV solution leverages Next Generation Recognition (NGR) Technology to provide virtually 100% check processing performance at the teller. The solution achieves read rates as high as 95% and can attain 100% read rates on small transactions using V100 mode. It provides tangible benefits like reducing data entry costs and recognition errors as well as intangible benefits like highly reliable technology and streamlined processes. Accura XV is the foundation for all of Orbograph's centralized and distributed recognition solutions and services.
Growth in remote deposit capture is driving additional requirements in check recognition. Orbograph provides a scalable check recognition solution for RDC that uses multiple recognition engines to achieve read rates from 90-98%. The solution can identify alterations, validate fields, and ensure image quality to reduce fraud while streamlining the deposit process. Orbograph offers flexible licensing and deployment options to meet the needs of various sized financial institutions supporting desktop, consumer, and mobile RDC.
The document introduces Orbograph's Healthcare Payments Automation Center (HPAC), a cloud-based platform that hosts two services: P2Post for converting paper explanation of benefit forms into electronic files for practice management systems, and E2Post for matching electronic funds transfer payments to remittance advices. By leveraging image processing and recognition technologies, HPAC can convert claims at high volumes while reducing costs up to 60% by eliminating manual data entry and exceptions. The platform provides adaptive onboarding of forms, HIPAA compliance, and guaranteed performance.
The document discusses next generation check recognition technologies that can improve teller image capture (TIC) and remote deposit capture (RDC) workflows. It outlines several business problems with early generation technologies like low read rates, balancing issues, and fraud risks. Next generation technologies aim to solve these by using multi-engine correlation, dynamic thresholding, item verification, and check box detection to achieve near 100% recognition performance and reduce errors. The benefits include cost savings, improved efficiency, customer experience, and reduced fraud.
Orbograph introduces Automation Services and Automation Services LE, innovative recognition solutions that provide up to 40% labor cost savings through high levels of automation and accuracy. Automation Services achieves 98% automation and 99%+ accuracy, while Automation Services LE attains 90% automation with 99% accuracy. Both solutions support various check processing workflows and can be implemented on Orbograph's legacy OrboCAR platform or new G6 Enterprise Recognition Technology platform. Orbograph also offers managed recognition services to continuously monitor performance and ensure solutions meet guaranteed service levels.
Orbograph is a provider of electronic solutions for healthcare revenue cycle management and check processing recognition software. It has over 1,500 financial institution and biller clients that process billions of documents annually using Orbograph's technologies. Orbograph converts paper-based documents like EOBs into electronic files to automate payment data reconciliation and provide reporting tools. It is a subsidiary of Orbotech and was founded in 1996, employing over 50 people who serve the banking, financial, and healthcare industries.
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
Know what your zodiac sign says about your taste in food! Explore how the 12 zodiac signs influence your culinary preferences with insights from MyPandit. Dive into astrology and flavors!
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....Lacey Max
“After being the most listed dog breed in the United States for 31
years in a row, the Labrador Retriever has dropped to second place
in the American Kennel Club's annual survey of the country's most
popular canines. The French Bulldog is the new top dog in the
United States as of 2022. The stylish puppy has ascended the
rankings in rapid time despite having health concerns and limited
color choices.”
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...my Pandit
Dive into the steadfast world of the Taurus Zodiac Sign. Discover the grounded, stable, and logical nature of Taurus individuals, and explore their key personality traits, important dates, and horoscope insights. Learn how the determination and patience of the Taurus sign make them the rock-steady achievers and anchors of the zodiac.
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
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Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
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2. Thank You To Our Sponsors
Presenting Sponsors
Supporting Sponsor Welcoming Reception Sponsor
Associate Sponsors
Founding Sponsors
3. • The Power of Collaboration
• Obstacles of Collaboration
• Regulator’s View of Prepaid Cards
• Industry’s View of Prepaid Fraud Mitigation
• NBPCA’s Collaboration
• Discussion with the Panel of Experts
3
Agenda
5. Law Enforcement Alliance
for Prepaid (LEAP)
• New program with selected Prepaid Anti Fraud Forum
members to participate in this more direct connect with law
enforcement thru NCFTA & others (IAFCI)
• Information sharing for company and industry level benefits
• Bi-weekly action calls with NCFTA
• Monthly NCFTA/LEAP industry status reporting
• Quarterly research papers
• Coordination of reporting standards/CyFin
• Establish Best Practices for LE communication
• Aggregation of crimes for prosecution
• Special projects
5
6. LEAP Evaluation Background
• Approximately 6 week review
• 7 member companies tasked with the review
• Activities included;
– Development of evaluation criteria
– Onsite reviews & system demos
– Weekly calls & reviews
– Interviews with NCFTA Staff and industry imbeds
– Interviews with members using services on trial basis
– Development of findings, benefits, ROI potential and recommendations
• Results – Recommendations, Presentation and Report
• Positive presentation
• Contract entered into
• Kickoff meetings conducted and program underway
6
7. Primary LE Complaint
“Difficult for LE to track down who to speak to in order to
identify account information for investigations and fund
recovery efforts.”
LEAP Response
• Created a resolution pursuit team
• Focused on analyzing the root cause, and recommending resolution
• Conducted problem walk-thru with NCFTA and interviews with other
LE officers
• Created initial inventory of financial contacts
• Added findings to NBPCA best practices and with ongoing NCFTA
collaboration to update and refine
• Scenarios: what’s really being found in the field and how to address
7
8. Three Scenarios
1. “Suit case in the field”
Cards are found in the field by LE officers. Due to suspicious circumstance,
the field officers wish to find out quickly if cards are stolen, have
suspicious balance, etc.
2. “Investigation of seized cards”
During an arrest, a large number of cards are seized, or a large number of
account numbers are uncovered and investigating officers need research
by FI’s into the accounts.
3. “Electronic Loads into Prepaid accounts”
Outbound funds appear to be wired or ACH to what appears to be PPD
accounts. LE or FI’s. LE or FI’s wish to contact the PPD FI to freeze or
recover funds
8
9. Objective
•Law enforcement is trying to collect evidence of suspicious
activity regarding potential prepaid cards identified during
a stop – the goal is to make an arrest.
•Chain of evidence is NOT needed
Questions
to ask
•What is LE trying to determine?
•Is the card(s) real, counterfeit or stolen?
•Have there been suspicious transactions?
•Is the Balance at a suspicious level?
•Immediate response IS needed
LE Actions
•Call customer service number on back of card
•Asked to be transferred to fraud management
hotline for FI’s prepaid products
•Tell them LE believes the card is involved in
criminal activity and wish to determine 1-3
•Provide them with items 1 -7
“Suit Case in the Field”
Data Points LE has:
(may vary by product)
The Card
1. Name of issuing
bank
2. Network Brand
3. Marketing Brand
4. Card number
5. CVV number
6. Date of expiration
7. Name on card
8. Website
9
10. NBPCA Best Practices Findings
Industry Best Practices
• Thru NBPCA create and maintain Fraud management
contact information
• Publish information through NCFTA
• Determine methodologies to identify PPD Accounts,
and sub-accounts in Pooled accounts, from ACH &
Wire transfers.
Electronic Loads
Industry Best Practices
• Through NBPCA create and maintain Fraud
management contact information
• Publish information through NCFTA
• Determine methodologies to identify PPD
Accounts, and sub-accounts in Pooled accounts,
from ACH & Wire transfers.
Seized cards
Industry Best Practices
• Establish PPD LE 24/7 Hotline
• Train Customer Service to direct LE calls to hotline
• Develop inventory of products and contact numbers
of Responsible party
• Require responsible parties to create hotline
Field Operations
10
11. NCFTA Prepaid Report
• Value of working across industry and agency
– Predictive
– Preventive
– Fraudsters are product indifferent…just
looking for weak points. Thus, apply learnings
from mature products to emerging products
• Value in being proactive vs. reactive in
Industry/Agency collaboration
• Prepaid as a model of young industry
– Getting in front of fraud trends while the
industry is young
• NCFTA written report: Increased Interest in
Anonymous Prepaid
– Trends in US vs. International
– Findings in types of accounts
– Virtual currency related to Prepaid
11
13. Next Steps – Expand the Blocks
• Specific threats
• Actors
• Prepaid value chain target
• Risk Level
• Metrics
– Volume
– Velocity
• Case Studies
ATOs
Ishing(S)
False
identities
Stolen cards
• Best Practices
• Defensive resources
– Partners
– Tools
– Products & Vendors
• Reaction Plans
– Management/Media
• LE involvement points
Threat characteristics Mitigation protocols
13
14. Govt/L.E Hurdles
• Defining problem/threat too narrowly = pipes
• Rhetoric vs. Reality “collaborating- sharing” Really??
• Re-inventing wheels every 2-4 years…
• Slight re-wording = same results. (see above)
• Continuity of Teams (Including Executive Management)
• Need to sync L.E with regulators (Fin, Telco, Cable)
• Need to adopt universal “OC” (people focus) model
14
16. NCFTA Successes
NCFTA provided intelligence to
law enforcement who then
arrested Jason Jordan for the sale
and distribution of counterfeit
airbags. The indictment seeks
prison time, the forfeiture of
$57,063 in seized proceeds, and a
money judgment of $669,732 in
calculated proceeds.
16
18. Bringing together a growing pool of cross-sector
Subject Matter Experts, real time to rapidly
identify, mitigate and ultimately neutralize
global cyber based threats. 18
20. HOW IT WAS.or
Citizen/Cyber Complaint
FBI
Local Office
Cyber SSA Way too small:
LOW priority.
Trash or “O” File
Local
Big
Business
INFRAGUARD
DIRECT
FBI
Local Office
Cyber SSA
“Russia –
No Way!”
Thumbs
Down.- declined
*Major assumption that
industry would actually
reach out at all to L.E.
*
U.S Attorney
Complaints from victims…
Complaints from companies…
Historical Cyber Threat Intelligence – Path to L.E
20
21. HOW IT IS.
ISP/Telcos AV Security
Multiple
Industry
HQ Level
L.E.
Real Time Intel
NCFTA
Analysts
FBI L.E.
Analysts
CONSENSUS
STEP
#1
Actionable
Intel
IIR’s
Case
Initiative
Development
Actionable
Intel
PSA’s,
etc.Feedback
Likely not to happen
under old model
*
*
*
* *
*
*Did not exist in old model
STEP
#2
Adopting the NCFTA & CIRFU Models….
21
22. Govt/Law EnforIndustry/NCFTA
FBI –HQ = 13
Other Gov = 1-4
DHS = 2-4
DoD = 1-2
DEA = 1
International = 2-6
PG HTTF = 3 -5
Total @ 25 – 40+
Specific Industry = 10+
Funded industry = 10-12
Analyst/Teams = 20 +
NCFTA Admin & IT = 12
Total @ 50 +
Neutral “Meet in the Middle” (Non-Profit) Space
Intel Reports
Analysis
Alerts -PSAs
Case Development
Case Referrals
Proactive Support
22
23. Industry Inhibitors
• View of the problem – Scope (in-house, within sector)
• L.E. can’t help– or will hurt! Can’t find them “declined”
• Think they can’t share intell, believe L.E won’t either..
• View of available resources (who is part of my team?)
• Acquisitions/outsourcing – where is best early warning?
• Who owns that intell?
• Who needs (wants) help understanding context?
• Who wants to remain blissfully ignorant?
• Regulation or L.E encouragement?
23
24. Industry inhibitors & L.E Hurdles=
drive the need for NCFTA & CIRFU models
1) Focus on Cross-Sector Intelligence sharing (2-way)
2) Build Model that emphasized resource sharing
incl:
1) People
2) Tools
3) Live it, Prove it! Re-conditioning-thinking-doing=
24
25. Pop3scan
SMTP Relays
Compromised
POP Accounts
Plx_ssh2.c
ssh brute force
Warez?
Load Modified Apache
Load IVM Answering Attendant
Load Fast Email Extractor
Fonosip
Inphonex
Callfire
Call-em-all
Leaddiamond
Ifbyphone
Automs
Marketingburst
Coatelecenter
Junctionnetworks
Voiceblast
vontoo
3rd Party Calling Services
WWW
Compromised Asterisk
Systems
Area Code
Email List
Bank
Credit Union
Card Info
Victims call in to get Voice Response Unit
IVM Answering Attendant
Mules cash out in:
Romania
Spain
San Diego
Chicago
NYC
LA
Infrastructure
Bank – CU
Customers
(et al)
25
26. • Cooperation and sharing of information between firms allowed for
the establishment of trends and investigation of this case. It is now
aiding the FBI in their criminal investigation.
• Spoofing of User Agents is a new and real threat. This threat
highlights the importance of capturing and sharing additional UA
information including: js useragent, screen resolution, and time
offset.
WHAT IS THE SIGNIFICANCE?
26
27. Victims of success…
• GAO
– In a 2007 report on Cyber Crime, the U.S. Government Accountability Office
(GAO) acknowledged the economic cyber crimes and the resultant threats to
U.S. national security. Mitigation efforts noted by GAO included the creation of
cybercrime “partnerships” between public and private sector entities designed
to facilitate cooperation and information sharing. The GAO specifically
acknowledged the NCFTA as a partnership example.
• President Obama’s 60 day Cyber Security
Study
– The NCFTA is the first partnership of its kind in the nation and was recently
noted in the President’s 60-day, comprehensive, “clean-slate” review to assess
U.S. policies and structures for cyber-security cited the NCFTA as one of three
international examples as an “effective model” which “has a clearly defined
institutional mission, well-defined roles and responsibilities for participants,
and a clear value proposition that creates incentives for members to
participate” and “mitigates concerns that would otherwise discourage
participation by establishing and maintaining an environment of trust among
the members.”
27
28. NCFTA – Built to:
• Fit and evolve primarily to industry needs
• Serve as a cross-sector bridge to assets (Industry
& Govt/L.E) that can help
• Identify and engage key “responsible”
stakeholders- towards building Best Practices
28
29. Joint Initiative Process
• Industry describes threat/problem
• Industry consensus achieved (broader buy in)
• Law Enforcement (Criminal Context) buy in
• Focus Group meeting convened
– Scope of threat and intelligence collection defined
– Process for sharing intelligence & other resources
– Key SME resources (embedded & remote) defined
– Near & longer term goals & objectives defined
29
30. Partnerships—Global & Growing
• Support from International Law Enforcement and
Industry in 34 nations…
• TDY and in-country model
– Australia
– Canada
– U.K.
– Germany
– Romania
– Italy
– India
– Turkey
30
32. BCP CyFIN
FRAUDSTOP
RETAIL
IRC
BROKERAGE
ROMANIANAUTO
AUCTION
BPHOSTING
SMS
VOIP
MOBILEMALWARE
PTP - BRAND TRADEMARK MALWARE ANTI MONEY LAUNDERING TELCO
PREPAID
RELOADABLE
MONEY TRANSMITTERS
VIRTUAL CURRENCY
IPR – ECONOMIC
ESPIONAGE
HEALTH AND SAFETY
HEALTHCARE - CYBER
FAKE ID
SOCIAL MEDIA/GAMING
PHARMA
COUNTERFEITGOODS
MALWARE/BOTNETS
BANKING
PAYMENTCARDS
HACTIVISM
FULL TIME
FORUMS
FORUM RESEARCH – RUSSIAN/ROMANIAN/GERMAN
IFA
32
33. NCFTA – CIRFU/LE
Space
DPN
DB
SPAM
DB
Other
DB
IDS Co’s
ie Symantec
DB’s
L.E
DBs
ISP’s
DB’s
Financial Srvs
Partners
DB’s
Software Co
DB’s via
BSA
Other Fusion
Centers
Intel
Merchants
via MRC
DB’s
FBI Secure
Space
US CERT
DHS
US Postal &
Internat’l– L.E
33
34. 1 FRAUD CASE, 6 INDUSTRIES
EMAIL
PROVIDERS
BROKERAGE
FIRMS
BANKS
DATING
WEBSITES
INTERNATIONAL
WIRES
TELCO
34
35. NCFTA Successes
NCFTA provided
intelligence to law
enforcement who
coordinated the arrest of
seven organized crime
leaders in Romania, the
Czech Republic, the UK,
and Canada who operated
an online auto auction
scam network.
35
36. NCFTA provided
intelligence to law
enforcement who
arrested more than 100
cyber criminals in
Romania and the US,
who stole approximately
$10 million via an online
auto auction scam.
NCFTA Successes
36
40. Discussion Points
• Emerging technology
• Prepaid Access – What is it and how does it work?
• Open vs. closed loop products
• Characteristics and features
• Prepaid access payment chain
• Assessing and managing anti-money laundering risks
40
41. Emerging Technology Generally
New products and services:
• Have changed how we do business – less face-to-face
transactions
• Internet/ P-2-P transactions/ digital check imaging/
mobile payments/ virtual worlds involving financial
transactions
• Have impacted financial and social behaviors
• Who is offering the new product or service? A bank? A
money services business? An unregulated entity?
• Have varying money laundering risks depending on their
features and characteristics and how they are managed
41
42. Prepaid Access: What is it?
• Pay-in-advance
• May be used like money
• Likely transferable
• Closed loop system: Starbucks card, mass
transit cards
• Open loop system: general purpose reloadable
cards
42
43. Prepaid Access
• Prepaid products require the consumer to pay in advance for
future purchases of goods and services. Each payment is
subtracted from the balance of the card or product until the
total amount is spent
• Bank Secrecy Act (BSA) regulatory definition: Access to funds
or the value of funds that have been paid in advance and can
be retrieved or transferred at some point in the future through
an electronic device or vehicle, such as a card, code, electronic
serial number, mobile identification number, or personal
identification number. (31 C.F.R. 1010.100(ww))
• Some products permit consumers to pay bills, make
purchases, and withdraw cash from ATM networks
43
44. Types Of Prepaid Access
Scope Open Loop May be used by an unlimited
number of merchants
Closed Loop Use is limited to a specific
location, vendor, or system
Storage
Capacity
Fixed Amount Purchased for a certain
denomination
Does not allow upgrades or
reloads
Reloadable Purchased for a certain amount
Allows reloading after use, up to
a certain denomination
Upgradeable Allows for additional amounts to
be added after purchase
44
45. Types - Continued
Access to prepaid
funds
Cash Accessible May obtain funds through ATM
network or point of sale (POS)
Non-cash
Accessible
May not obtain funds through ATM
network or POS
Storage Capacity Network Based Access information contained in
magnetic stripe (like a credit card)
Value stored on a remote database
Chip Based Access information code on
computer chip embedded in the card
45
46. Technology
Chip and Pin Vs. Magnetic Stripe
• Many countries outside the U.S. use the “chip and pin” (EMV
standard) technology, where a computer chip is embedded in the
prepaid card and the consumer must also enter a personal
identification number at the point of sale (POS).
• Different POS readers and infrastructure are needed for this
product than for the magnetic stripe prepaid products.
• The magnetic stripe prepaid card, common in the United States,
contains account data recorded on the stripe that is reviewed by a
magnetic reader at POS, like a credit card.
• These products clear and settle through or “ride the rails” of the
network branded credit card system.
46
47. Open vs. Closed Loop
• Open Loop Prepaid Product: Generally
understood to mean a network branded general
spend prepaid product that is accepted
everywhere that Visa, MasterCard, American
Express or Discover is accepted.
– Some open loop products are reloadable and function
similar to traditional bank deposit accounts, often
requiring the collection of customer information before
activation.
– Many open loop products are anonymous but others can
also be issued in the name of an individual.
47
48. Open vs. Closed Loop
(continued)
• Closed Loop: This generally means a prepaid
product used for a specific purpose or specific
service.
– BSA Regulatory Definition - Closed loop prepaid access:
Prepaid access to funds or the value of funds that can be
used only for goods or services in transactions involving a
defined merchant or location (or set of locations), such as a
specific retailer or retail chain, a college campus, or a
subway system. (31 C.F.R. 1010.100 (kkk))
48
49. Prepaid Transaction Chain
• There is no one business model.
• Some participants may serve in multiple roles.
• A prepaid transaction chain may have limited
participants or many along the chain.
• The terms for prepaid and for the participants are
many and there is no agreed upon vernacular.
• Many participants along the transaction chain
may hinder financial transparency.
49
50. Participants in the Transaction Chain
• Program Manager: Runs the program’s day-to-day operations. This entity
may or may not also be the entity that creates the program and designs the
features and characteristics of the prepaid product.
• Network: Any of the payment networks, including MasterCard, VISA,
Discover and American Express, that clears, settles, and processes
transactions.
• Distributor: Ships prepaid products to endpoints.
• Payment Processor: The entity that tracks and manages transactions and
may be responsible for card account set-up and activation; adding value to
products; and fraud control and reporting.
• Issuing Bank: A bank that offers network branded prepaid cards to
consumers and may serve as the holder of funds that have been prepaid
and are awaiting instructions to be disbursed.
• Seller or Retailer: A convenience store, drugstore, supermarket, or
location where a consumer can buy a prepaid product.
50
51. Key Concepts
• BSA/AML compliance responsibilities attach to
institutions (e.g., banks), not products.
– Accurately assessing risk (e.g., due diligence, 3rd-
party relationships)
– Suspicious activity monitoring (“by, at, or through
the bank”)
– OFAC
51
52. Risk Factors
• Frequency – daily or monthly limits?
• Dollar thresholds – maximum loads?
• Anonymity
• Ability to reload
• International use
• Ability to transfer funds
• Ability to co-mingle funds
• Primary purpose and use of the card
52
53. Assessing Risk
• As when introducing any new product, banks
should ensure their risk assessment is updated to
accurately reflect BSA/AML risks associated with
a new payment system.
– Existing or new customers?
– Online capabilities and non-face to face transactions?
– Existing or new geographies?
– 3rd parties?
53
54. Assessing Risk
• Understand the specific product/program.
– How will the bank and the partners manage the
program?
– Responsibilities, checks, and controls.
– Usually contractual (pros and cons).
– How will the bank’s name be used?
– Who has what information?
– Who sets limits and who enforces them?
– Involvement of other third parties.
54
55. 3rd Party Due Diligence
• Program Managers, Independent Sales Organizations,
Agents, Marketers, Processors
– Company reputation? References?
– Financial information, banking relationship
– Ownership, principals, structure, beneficial owners
– Location of operations? Web-based? Site visit?
– Related parties? Other companies?
– Internet, open source information
– Who performs the due diligence?
– Limited or negative information
55
56. Suspicious Activity Monitoring
• Fraud, discontinuing access to bank’s systems
• Across multiple processors or programs?
• Volume, compatibility of data
• Average loads, balances
• Common elements (address, TIN, e-mail)
• Transaction locations, types, velocity
• Series of transactions over time
• MSB registration (provider or seller of prepaid access?)
56
57. 2010 Exam Manual Updates Related to
Payments Issues
• Prepaid cards (Electronic Cash)
• Remote Deposit Capture (Electronic Banking)
• Cover payments (Funds Transfers)
• International Automated Clearing House
Transactions (ACHs)
• Feedback or ideas for next update?
57
58. Conclusions
• As electronic payments volume, new products, and entry
points continue to increase, financial institutions must have
effective and comprehensive policies, procedures, and
processes to identify, measure, and limit the risks associated
with these activities.
• Open, consistent, and effective interaction between
operations, business lines, and compliance is critical to
identifying and managing the risks associated with processing
payments.
• Financial institutions that process payments for third parties,
including payment processors and high-risk merchants, must
implement enhanced risk management practices to protect
against BSA/AML compliance and fraud risks.
58
59. Closing Thoughts
• The highest BSA/AML/OFAC risk is not necessarily
in the program with the greatest number of cards
or outstanding balances
• “The issuing bank maintains ultimate
responsibility for BSA/AML compliance whether
or not a contractual agreement has been
established.” FFIEC BSA/AML Examination Manual
(2010) at 236.
59
60. Contact Information
Timothy P. Leary
Board of Governors of the Federal Reserve System
(202) 452-2428
Timothy.P.Leary@frb.gov
www.frb.gov
Infobase: www.ffiec.gov/bsa_aml_infobase/default.htm
60
62. Common Types of GPR Fraud
• Load Fraud
• Tax fraud
• Federal benefits fraud
• Other ACH fraud (following account takeover)
• Human Trafficking
• Fraudulent cash loads
• Credit/Debit card fraud loads
• Mobile check deposit fraud
• Spend Fraud
• Unauthorized use (lost/stolen, card not present, compromised card,
account takeover, etc.)
• Frivolous Reg. E disputes
• Authorization hold fraud
62
63. 63
Identity Thief Taxpayer
Identity thief steals taxpayer’s
personal information both to
open the prepaid card and file
the fraudulent return
IRS
Fraudulent return claiming
refund is filed
IRS issues refund via ACH to
prepaid card
$
Legitimate return may also
be filed
If legitimate return filed after fraud
one, IRS sends notice of duplicate
filing
X
Tax Related ID Theft Incidents Identified by IRS
2008 47,730
2009 165,524
2010 147,680
2011 242,142
2012 641,690
Source: GAO
64. Stolen Identity Refund Fraud (SIRF)
Overview
• Victim profile:
– Typically real identities with long established address
histories
– In 63% of the cases, there was a mismatch between the
address used for CIP and the address on file in public
records databases
• Ie. Person had always lived in Vermont and the card was signed up
for an address in Texas
• Two distinct victim profiles:
– Elderly—typically born prior to 1934
– Very young— “Emerging credit” ages 18-22
64
65. Stolen Identity Refund Fraud (SIRF)
Overview
• Little to no activity was seen on the card until
a tax refund
• Refund was typically in the “cardholder” name
• Many times the amount was inconsistent with
the applicant data
– Ie $10,000 tax refund for an 86 year old woman
• Some cards attempted to put numerous tax
refund in different names on the card
65
66. Tax Fraud – A Case Study
• Review of accounts receiving mismatched tax refunds (SSN on
refund did not equal SSN on account) led to a suspicious account
that had an unusual email format – SSN#@domain.com (e.g.
123456789@yahoo.com)
• Analysis of existing records identified thousands of unique email
addresses using same format; these email addresses were then
linked to specific accounts and physical addresses
• Review of addresses led to the identification of a handful of high
risk addresses that had received the bulk of the plastics
• Same address line 1/zip code combination but different unit
numbers (e.g. 12488 Oxnard St., North Hollywood, CA)
66
67. Tax Fraud – A Case Study
86% of tax funds deposited to accounts linked to this address had already
been secured through blocks placed by other rule sets
67
A successful fraud deterrence strategy relies on
numerous fraud controls (defense in depth)
68. Federal Benefits Fraud – Typical Pattern
• Stolen identity used to open a GPR card – almost always in victim’s name but typically with
a different address than victim
• Direct deposit re-routed to GPR card or paper check changed to DD
• May involve phishing of victim to get information needed to re-route benefits payment
• DD can be rerouted through a variety of channels including via phone (with benefits
provider) or via prepaid program’s direct deposit enrollment (ENR) process
• Funds are quickly withdrawn via same methods as tax fraud
• Due to the often critical nature of these payments, victim may detect fraud quickly – usually
within days of missed payment
68Source: Treasury FMS
69. Cash Load (Victim Assisted Fraud)
Typical Pattern
• Use of stolen identities and/or mules to open GPR cards
• Perpetrators will have access to numerous cards spread across many different issuers/program
managers; will use same identity across different programs
• Confidence scam initiated where victim is required to pay fraudster money using cash reload
product; common scams include:
• Lottery
• Malware
• Debt collection
• Loan fees
• Past due utility bill
• Satellite TV upgrades
• Product for sale
• Victim buys reload product and provides reload “PIN” to fraudster, who then applies funds to a
card in their control
• Funds are withdrawn by fraudster via the usual methods or sold to cash out ring for X cents on the
dollar (going rate appears to be 60 cents)
• Only later does the victim realize they were duped at which point they may file a
dispute/complaint with reload network and regulatory agency (FTC)
69
70. Cash Load (Victim Assisted Fraud)
Case Study
• Dispute filed with reload network by purchaser of cash reload product
• Purchaser (victim) was contacted by “debt collection agency” related to a current
or previous payday loan
• Victim threatened with foreclosure, jail time, job loss if payment not made
immediately via cash reload product
• Victim buys cash reload and provides reload PIN to “debt collector” to satisfy
debt
• Reload PIN immediately loaded to a GPR card that is part of the reload network
• Victim later realizes this was not a legitimate debt collection and files dispute
• Funds spent off of fraudsters’ GPR cards via a series of CNP transactions
conducted by what appear to be India-based debt collection merchants
70
71. ACH Fraud
Typical Pattern
• Fraudster, typically with a stolen identity, opens a GPR card as the receiving account
for incoming ACH transfers from accounts at other financial institutions (FIs)
• Account takeover occurs at another FI with fraudster initiating ACH transfers to GPR
card
• Funds are then withdrawn from GPR via ATM withdrawal, cash back at POS, spend on
card
• Funds can be stolen from any ACH enabled account including credit card rewards
redemptions
• GPR issuer is typically RDFI in this scenario so doesn’t own any of the financial risk
associated with the fraudulent transfer – however reputational and regulatory risk
remain
• Due to high loss rates, some FI’s have blocked outbound ACH transfers to prepaid programs
• Program managers/issuers should carefully consider risk associated with becoming an ODFI
that allows “pull” ACH transfers from another FI
71
72. 72
One identity used to open up 38 different prepaid cards across 34
programs issued by 14 banks.
73. Human Trafficking
Overview
• There are both domestic and International laws against human trafficking
• Human trafficking is a form of modern-day slavery.
• Human trafficking is prevalent in many countries around the world. Different countries
may be primarily sites of origin, transit, destination, and/or internal trafficking.
• Cases of human trafficking have been reported in all fifty states of the United States
(Free the Slaves).
• Human trafficking is a market-based economy that exists on principles of supply and
demand. It thrives due to conditions which allow for high profits to be generated at low
risk.
• Common theme--“Compelled Service.” Can include:
– Human trafficking
– Forced Labor
– Prostitution
– Sex trades
73
74. Human Trafficking
• Myths and Misperceptions
– Trafficking is not smuggling or forced movement.
– Trafficking does not require transportation or
border crossing, and does not only happen to
immigrants or foreign nationals.
– Trafficking does not require physical force,
physical abuse, or physical restraint.
– The consent of the victim is considered irrelevant,
as is payment.
74
75. Backpage.com
• What is backpage.com?
– Similar to Craig’s list
– Allows the advertisement of “Adult Services”
– Allows advertising of adult services in multiple
cities at once
– Most local posts are FREE
– Adult services and postings in multiple cities
charge a fee
75
76. Who Are Traffickers
• Based on an analysis of human trafficking cases that have
been identified, examples of potential traffickers include:
– Pimps
– Intimate partners/family members
– Gangs and criminal networks
– Brothel and fake massage business owners and managers
– Growers and crewleaders in agriculture
– Labor brokers
– Employers of domestic servants
– Small business owners and managers
– Large factory owners and corporations
76
77. Victimology
• Unfortunately, due to the nature of trafficking there is not a
clear victim profile that has emerged.
• Based on U.S. federal law, trafficked persons in the U.S. can
be;
– men or women,
– adults or children,
– foreign nationals or U.S. citizens.
– Some are well-educated, while others have no formal education.
– Some immigrant victims are currently in the U.S. legally, and others are
undocumented.
• Some form of vulnerability tends to be the common thread
amongst all different trafficking victims.
77
78. Typologies & Detection
• Identifying issues
– Spend on backpage.com purchases, typically multiple (5 per week for
a total of more than $20 activity)
– Travel activity seen on the card
• Airfare
• Hotels
• Cash on
• Cash off
• Liquor stores
• Bus tickets
– Other Considerations
• Money transfers
• Business as a front
• Geographic clustering
78
79. Solutions
• Identify the behavior patterns
• Backpage.com and such sites are a good indicator
• Triangulate with other behaviors
• Understand the victim is typically the identity you
will see
• Takes a much deeper dive to get to the suspect data
79
81. Prepaid Card Fraud &
AML Control Framework
81
Administration
Return Mail Processing, Reg. E Disputes, Law Enforcement Support, SAR Filing, Federal Benefits Support, Cash Reload Dispute
Processing
Money Out (Spend/Withdrawal)
Restricted Access on Temporary Card or Until Personalized Card Activation, Transaction Limits, Transaction Monitoring &
Blocks, Refund Monitoring
Money In (Funds Loaded)
Restricted Access on Temporary Card or Until Personalized Card Activation, Transaction Limits, Velocity Checks, High Risk
Reviews & Blocks, Name/SSN Match Logic, Out of Wallet Questions
Card Out
Device ID, Velocity Checks, Invalid Application Data Check
Customer In (Acquisition)
USPS Address Standardization, Negative File, OFAC Check, Velocity Checks, Risk Based CIP, High Risk Indicators, Out of Wallet
Questions, eMail & Cell Phone Verification
82. Customer In Control
• Customer Identification Program (CIP)
• Much of the GPR fraud begins with a stolen identity being used to open
a prepaid card; therefore a robust CIP program should be your first line
of defense to mitigate fraud
• Most GPR programs rely on non-documentary verification, which is
generally less robust than a documentary verification process
• Consider enhanced verification processes (e.g. out of wallet questions)
for higher risk activations or transactions
• Monitor fraud or suspicious activity rates by CIP response code to
determine which codes drive the highest rates; target additional
processes or review towards those codes
• Many third party verification services provide high risk response codes
• SSN invalid, never issued, deceased, issued prior to DOB, associated with multiple
people; phone is pager or invalid; address is mail forwarding, mail drop, commercial
address or prison address
82
83. Customer In Controls
• Address standardization – ensures address provided is deliverable per USPS database and put into
standard USPS format
• Residential vs. commercial address confirmation
• eMail verification
• Passive confirms email domain is deliverable
• Active requires customer to receive email and act on instructions
• Cell phone verification, geo-location, one time passwords
• IP location services; for example, does your program allow activations from foreign countries?
• Negative or black list – list of application data elements (SSNs, addresses, phones, emails)
previously used to commit fraud
• Velocity Controls
• # of cards per customer/SSN
• # of online generated cards per customer/SSN
• # of activations per ANI, IP or device ID
• # of cards per phone, physical address or email address
83
84. SIRF Solutions - Meta
• All cards that will accept tax loads are required to
match 4 of 4 CIP elements before load occurs
• Preventing the identity fraud helps to reduce the
number of fraudulent tax returns
• Fraudulent loads decreased by 83% over last year
• Current efforts by both the IRS as well as continued
Meta strategy refinement have contributed to the
reduction
84
85. Card Out Controls
• # of cards or identities associated with a specific address, email or
phone
• # of cards/identities associated with a specific building (e.g.
address line 1/zip code combination)
• Cards activated by a specific device (web/mobile activations)
• Cards activated with anonymized email domains (e.g.
yopmail/hushmail)
• Cards activated with same SSN but different last names
• Reviewing recently opened accounts with returned mail
• Address change limitations on recently opened accounts
• Limit or eliminate expedited delivery (FedEx)
85
86. Money In Controls
• Max balance limits
• Velocity (#) and/or volume ($) limits on different load types (e.g. cash, ACH
loads); can be aggregated at card, SSN, address, phone, email level
• Monitoring of ACH deposits from international locations
• Geographic disparity between cash loads and card location
• Account verification processes including micro debit/credit process– typically
used to verify ownership of external funding source
• Rules or regression based models to identify and interdict suspicious loads
• Restrictions on ENR enrollments (e.g. OOW)
• Specific tax fraud controls
• Mismatch deposits – refund in different name/SSN than cardholder
• Velocity of refunds received by same person
• Refunds received in name of recently added secondary cardholder
• Refunds received after tax season
86
87. Money Out Controls
• Velocity (#) and/or volume ($) limits on cash withdrawals and spend
transactions (includes daily ATM and spend limits); can be aggregated at
card, SSN, address, phone, email level
• Velocity/volume limits on bill pay transactions
• Specific limits or blocks on foreign activity (e.g. Jamaica or Dominican
Republic)
• Monitoring of spend/withdrawal activity trends by country
• Monitoring and aggregation of refund activity by account parameters
(e.g. SSN, address, phone, email, etc.)
• Rules or regression based models to identify and interdict suspicious
monetary and non-monetary transactions (e.g. address change, card
requests, PIN changes)
87
89. Conference Name Date City, State
ACI Prepaid Compliance 1.29-30, 2013 Washtinton, DC
ABA Prepaid Roundtable 2.17.13 Orlando, FL
RSA Conference 2.25-3.1, 2013 San Francisco, CA
Prepaid Expo USA 2013 3.4-6, 2013 Orlando, FL
CFSA 2013 3. 5-8, 2013 Dana Point, CA
BAI--Payments Connect 3.11-13, 2013 Phoenix, AZ
PMTS: INNOVATION Project 2013 3.20-21, 2013 Cambridge, MA
Card Forum 4.7-10, 2013 Boca Raton, FL
USPS/Financial Industry Mail Security Initiative 4.10.2013 Phoenix, AZ
CYFIN--Cyber Financial Crime 4.16-17, 2013 Pittsburgh, PA
NACHA 4.21-24, 2013 San Diego, CA
IAFCI 5.15, 2013 Downey, CA
CNP Expo 5.20-23, 2013 Orlando, FL
CFSI 6.5-7, 2013 Miami, FL
Power of Prepaid 6.26-28, 2013 Washington, DC
IAFCI 8.26-30, 2013 Denver, CO
Congressional Black Caucus--Legslative Conference 9.18-21, 2013 Washington, DC
MTRA Conference 9.25-26. 2013 New Orleans, LA
Money 2020 10.6-9, 2013 Las Vegas, NV
IAFCI Regional meeting 10.10-11, 2013 Williamsburg, VA
ATM, Debit and Prepaid Forum 10.20-23, 2013 Las Vegas, NV
BAI--Retail Delivery 11. 5-7, 2013 Denver, CO
2013 NBPCA Conferences
Listed are the conferences which NBPCA, along with interested members,
participates in, supports, or hosts. 89