Loan Fraud: Detection and Prevention


Presented by: Barry Thompson and Robert Hyde

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The pandemic will be producing loan frauds in large numbers. Many account holders may believe that mortgage payments not made over the last three months will automatically qualify for a forbearance and will be added to the end of the mortgage term. Some nonbank groups are going to be demanding payment or partial payments beginning in September along with the normal monthly mortgage payments. This will cause criminals to return to the 2008 mortgage rescue scams. Desperation breeds rash attempts to save businesses, homes, or other assets that people normally use to maintain their lifestyles. Your institution will lose more money due to fraudulent loans this year than it will to robbery.

This dynamic program will instruct you on how to identify fictitious loan applications and review identification documents. Know the different loan frauds like bust-out schemes, loan kiting, conversion loans, and shot-gunning loan applications. Using actual case studies, we will provide you a new basis to review loan documents for commercial and consumer loans The most important step in preventing loan fraud is training your lending staff on these concepts.

Discussion topics include:
  • Internal loan frauds including: fictitious loans, unauthorized loans and employee loan manipulation
  • External loan frauds including accountholder and mortgage loan fraud
  • How loan fraud is committed and concealed
  • "Red flag" indicators of potential loan fraud
  • Pro-active solutions: internal controls, quality assurance, and effective auditing
About the Speakers: Barry Thompson is an international speaker, trainer, consultant, and writer. He is one of the original security "guru's" for a Bankersonline and regularly presents security conferences for trade groups - he has trained over 51,000 financial professionals. Barry is recognized worldwide, presenting in Brussels, Belgium to European bankers on internal fraud; at the United Nations on identity theft; and to Japanese bankers on bank security. Barry has worked in the financial services industry for over four decades, and has held the positions of security officer, compliance officer, treasurer, senior vice president, and executive vice president. He has handled over 900 security cases and has been involved with investigations and prosecutions at the federal, state, and local levels. Barry is the author of 101 Security Tips for the Beginning Security Officer and has been interviewed by Newsweek, Computer World, USA Today, and other national publications.

Robert Hyde, is Security and Fraud Prevention Manager for a leading financial institution, and has actively worked in the Financial Security field for the past 29 years. He is a certified Security & Fraud Expert, as well as both a participating member and the Executive Chairperson for the Maryland Association for Bank Security. Robert is a member of the Washington, DC area Security Association of Financial Institutions, a member of the Association of Certified Fraud Examiners, in addition to being a participant of the USA Attorney's Office (Baltimore) ATM Skimming Working Group. Robert is also an advisory board member for the Thompson Consulting Group, LLC.

This program was recorded in its entirety in August 2020. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_loanfraud0820
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Wednesday 01 July, 2020.

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