A new year brings with it new challenges and some old ones as well. In 2018, financial institutions will continue to face Synthetic Identity Fraud, Loan Fraud and ADA Website Accessibility Compliance risks. Are you prepared?
ADA website accessibility lawsuit prevention is straightforward: Implement functionalities on your website to allow for universal accessibility by anyone. That’s not to say it’s an easy feat, but mitigating the risk of a lawsuit is the clear goal.
Synthetic identity fraud and loan fraud prevention are not as clear cut. Fraud is always evolving as criminals continue to adopt more sophisticated tools and processes to steal information. If the criminals are evolving their strategies, businesses need to be adapting to stay one step ahead of the bad guys.
There are some strategies you can adopt right away to make your fraud mitigation processes much stronger:
- Educating customers & staff
- Prioritizing enterprise-wide risk management strategies (ERM)
- Monitoring accounts closely
- Acting fast if an attack occurs or is suspected
- Balancing service & risk thoughtfully
- Implementing robust authentication measures
- Investing in technology
- Working with secure, risk-conscious vendors
Learn all about these topics and more at the February 15 webinar on “Top Fraud Risks Facing Financial Institutions in 2018,” presented by Allied Solutions.
A new year brings with it new challenges and some old ones as well. In 2018, financial institutions will continue to face Synthetic Identity Fraud, Loan Fraud and ADA Website Accessibility Compliance risks. Are you prepared?
ADA website accessibility… Read the rest
On Wednesday, the Consumer Financial Protection Bureau (CFPB) released its request for information (RFI) regarding bureau civil investigative demands and associated processes. Comments will be due 60 days after publication in the Federal… Read the rest
On Tuesday, Mick Mulvaney, Acting Director of the CFPB, sent a memo to his staff that was converted into a Wall Street Journal op-ed piece which appeared in the paper yesterday under the headline The CFPB Has Pushed Its Last Envelope.
The op-ed… Read the rest
AFSA staff met with senior Treasury Department officials on Jan. 18. The Treasury Department asked for the meeting as part of its information-gathering phase for the last of four reports on the U.S. financial system. The reports focus on solutions… Read the rest
Phillip Bohi, VP, Compliance Education
In Part 1 of this Article, we discussed how the concept of disruption we see in technology and business might be manifesting itself in creative legislative and regulatory requirements. Last time, we… Read the rest
