Cyber Banking Fraud: Hottest Topics for Banks and Their Customers
1 hour 5 minutes
Understand the evolving nature of cybercrimes your institution and your customers are likely to confront.
We have collected the latest threat intelligence concerning the most prevalent electronic banking fraud risks that banks and credit unions will confront. As fraudsters creatively exploit technology and banking regulators impose new requirements on financial institutions, understanding the changing threat environment is a constant challenge but is more important than ever. Where should your institution’s attention and resources be focused, and what is working for others? For those whose job includes answering these questions, this material will keep you abreast of cyber fraud trends, legal developments, and supervisory priorities to position your financial institution or credit union to mitigate losses and assist customers. Particular attention will be devoted to the highest risk and the most prevalent fraud vectors and the decisional law applicable to each. We will also dive into ransomware from the perspectives of both when the bank is the victim and when the target is the customer. This course takes a decisional approach to the problems and is not technology-dependent so that the lessons learned are applicable regardless of your institution’s technology vendors.
• You will be able to discuss the evolving nature of cybercrimes your institution and its customers are likely to confront.
• You will be able to define the legal rights and remedies, and regulations, arising from electronic banking fraud.
• You will be able to describe the best contractual practices for mitigating prevalent BEC fraud.
• You will be able to explain risk management techniques and best practices in the payments space.