Phone Fraud and Other Tricks that Fool Your Employees


Presented by: Rayleen Pirnie

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Each and every day, thousands of bank customers are targeted in scams designed to steal their assets. The elderly are favorite targets, both because they have had longer to accumulate more assets and because they are often more easily tricked into falling for the ruses that first take over their identities and then pillage their bank accounts and other assets. Whether they are elderly or "less seasoned," when bank or credit union customers are scammed and their funds stolen, it's often their banks who are the biggest losers -- consumer protection laws and regulations often shift the loss to consumers' financial institutions.

Sometimes it's the bank itself that is tricked into giving up key pieces of a consumer's identity information as a victim of social engineering scams -- sometimes referred to as "pretext calling." Bank call center personnel and other front-line staff can be duped into thinking they're talking with a customer and unwittingly divulge information on the customer with a scammer who's trying to collect individual pieces that make up the puzzle of a consumer's identity. Once the puzzle has enough pieces, the identity theft is complete and the customer's assets are vulnerable. That's a direct threat to the bank's bottom line, once the customer wakes up and realizes what's been lost.

Understanding how scammers work to gain consumers' -- and bankers' -- confidence to compromise customer identities can help your bank develop more effective customer and staff education tools to improve their defenses against identity theft. It's an ongoing fight to keep up with the scammers as they devise new ploys and sharpen old skills to attack their victims. Participants in this information-packed two-hour webinar will get the information they need to improve their ongoing identity theft efforts as Rayleen covers these and other topics: Top Financial Scams Targeting Consumers- scams that harvest identities / account details
  • Examples / Case Studies
  • SMiShing
  • Financial Exploitation of the Elderly
  • "Virus-Fixing" scams (According to the Microsoft Scam Defense Survey, antivirus alerts that imitate real programs are the second-most common type of scam adults encounter online.)
  • Phone Scams
  • Advance Fee Frauds: Lottery / Sweepstakes / Work From Home Scams
Results if the criminals are successful
  • Identity Theft
  • Drained Accounts
  • Regulation E liability
  • Regulation E Investigations
  • Best Practices
  • Educate consumers
    • Bank Website
    • Community training
    • Staff talk with customers
    • Tips for successful education
  • Red Flags that suggest your customer has been scammed
Social Engineering Banks
  • Methods and examples
  • Using logs and deposit account memos to monitor for this activity
  • What to do
  • Creating more challenging challenge questions
About the Speaker: Rayleen Pirnie is the Director of the Compliance & Fraud Department at EPCOR (Electronic Payments Core of Knowledge, established by Mid-America Payment Exchange and Payments Central). She joined EPCOR in 2007 after a 10-year career as an Investigations Specialist in banking. Today she draws on that extensive investigative background to educate and offer consulting to financial institutions, businesses, consumers, and law enforcement on payments fraud, risk, business continuity and regulatory compliance. Her primary focus is on initiatives to combat cybercrimes.

Rayleen stays abreast of all financial crimes and their prevention counter-measures, a necessity in the rapid changing environment of financial crimes. She is recognized as a payments-fraud expert and is regularly called upon to present at conferences. Rayleen has presented to hundreds of businesses and institutions across the country, helping them protect their systems, data, and accounts.

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CD-ROM includes:
  • Complete presentation (including slides and audio)
  • Written Materials
  • Follow-up Q & A
You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

This program was recorded in its entirety in October 2013. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_scams1013
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Monday 05 August, 2013.

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