Banking on Fraudology is part of the Fraudology Podcast Network.
In this eye-opening episode of Banking on Fraudology, host Hailey Windham welcomes back fraud expert David Maimon to dive deep into the world of treasury check fraud. As the "Indiana Jones of fraud fighters," David shares alarming insights into why these government-issued checks have become prime targets for criminals. The conversation reveals how fraudsters are exploiting verification loopholes, altering payee names, and cashing out millions in stolen funds.
David breaks down the latest trends, including the rise of first-party fraud where individuals willingly participate as money mules, and sophisticated schemes involving synthetic identities and business impersonation. Listeners will gain a sobering understanding of just how thorough and patient modern fraudsters have become in their operations.
The episode's highlight is the unveiling of Sentilink's new Treasury Check Verification Service. This game-changing tool addresses a critical gap in existing verification processes by allowing financial institutions to confirm payee names - a feature David explains has been sorely missing. With real examples of how early adopters are already preventing significant losses, this free service promises to disrupt treasury check fraud operations. Fraud fighters won't want to miss this actionable solution to a pervasive industry challenge.
Tune in to arm yourself with the latest intelligence and tools in the fight against financial crime.
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About Hailey Windham:
As a 2023 CU Rockstar Recipient, Hailey Windham, CFCS (Certified Financial Crimes Specialist) demonstrated unbounding passion for educating her community, organization and credit union membership on scams in the market and best practices to avoid them. She has implemented several programs within her previous organizations that aim at holistically learning about how to prevent and detect fraud targeted at membership and employees.
Windham’s initiatives to build strong relationships and partnerships throughout the credit union community and industry experts have led to countless success stories. Her applied knowledge of payments system programs combined with her experience in fraud investigations offers practical concepts that are transferable, no matter the organization’s size.
Connect with Hailey on LinkedIn: https://www.linkedin.com/in/hailey-windham/
