Bank Automation News’ Post

Avoid becoming a victim of financial fraud. Maintain separate bank accounts for business and personal funds, and more importantly, try not to mix financial transactions and surf the Internet on the same computer. #FVCbank #BusinessBanking #PersonalBanking

Friday tip: Financial awarenes 🧐 Going through your bank account transactions not only helps you identify where you are spending your money, but it can also help you spot any unusual activities, like fraud! When was the last time you reviewed your transactions? Take a few minutes today to ensure everything is in order. Your future self will thank you! #FinancialTips #FinancialStreetSmarts #FraudPrevention #SchoolOfHomeownership

Completed the second course on how financial institutions can detect and tackle possible cases of human trafficking. Many of these criminal actors use financial institutions in order to hide and transfer their funds between bank accounts. The cases presented in the course, such as U.S. v. Morris (2018), U.S. v. James Vernon Joseph JR (2017), and the Backpage.com cases (2018), are important to understand how these criminal actors behave to avoid being detected by banking entities.

As the SEC and CFTC levy more fines against banks and financial services firms (combined, they issue over $2 billion worth of penalties against a dozen of the world’s largest financial institutions between December 2021 and September 2022), businesses are reminded again of the importance of monitoring off-channel communications. Read more from Compliance Week: http://ow.ly/PBh0104PZHP #ComplianceOfficers #SEC #FinancialServices #NotFineAtAll

ORBIS bank validation is designed to authenticate both commercial and consumer bank accounts. This can be used to help mitigate fraud and financial crime. https://lnkd.in/gvTrfHfu #BankValidation #FraudMitigation #BankAccounts #Authentication

As the SEC levies more fines against banks and financial services firms, businesses are reminded again of the importance of monitoring off-channel communications. Read more from Compliance Week on the blowback on these business and how it could have been prevented: http://ow.ly/PBh0104PZHP #ComplianceOfficers #SEC #FinancialServices

The second part of the fraud series in. Financial services industry, examines how successful the banks have been in enlisting EFCC in recouping stolen funds.

🚨 42% of fraudulent credit card and loan applications include alterations to financial details like bank balances and transaction descriptions —  a sign of first-party fraud. Learn more in our 2023 #DocumentFraud Report: https://lnkd.in/gQukDAJk #frauddetection #fraudprevention #fraudtrends

As the SEC levies more fines against banks and financial services firms, businesses are reminded again of the importance of monitoring off-channel communications. Read more from Compliance Week on the blowback on these businesses and how it could have been prevented: https://bit.ly/3KfYc2I #ComplianceOfficers #SEC #FinancialServices

As the SEC levies more fines against banks and financial services firms, businesses are reminded again of the importance of monitoring off-channel communications. Read more from Compliance Week on the blowback on these business and how it could have been prevented: http://ow.ly/PBh0104PZHP #ComplianceOfficers #SEC #FinancialServices