Banking on Fraudology Push-payment Fraud Insights For Bankers
In this episode of Banking on Fraudology, Hailey Windham dives deep into the pressing issue of push payment fraud that's plaguing the financial industry. Drawing insights from a recent Payments Dive article, Hailey breaks down the key takeaways from a panel discussion featuring leaders from Truist, Zelle, Google, and Nacha. With push payment fraud losses in the Americas reaching a staggering $102.6 billion in 2023, this episode couldn't be more timely.
Hailey expertly dissects the complexities of push payment scams, where criminals trick victims into sending payments by posing as legitimate entities. She highlights the delicate balance financial institutions must strike between fraud prevention and maintaining a smooth user experience. The episode explores innovative approaches to combat this growing threat, including enhanced data sharing, improved digital identity verification, and increased support for law enforcement.
Don't miss out on this essential discussion – tune in now and arm yourself with the latest strategies in the fight against push payment fraud.
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/