Protecting the Hive: Harsh Truths About Tech Support Scams

Banking on Fraudology is presented by Unit21.

Unit21’s Risk and Compliance Infrastructure empowers your team to proactively combat financial crime and make informed decisions throughout the customer lifecycle.

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Welcome to Banking on Fraudology. In this episode, Hailey Windham gets inspired by the movie "Beekeper" to explain the harsh realities of Tech Support Scams that affects the most vulnerable population.

To illustrate this, she delves into staggering statistics from the IC3 2023 Internet Crime Report, revealing a shocking 165.9% increase in scam losses within just two years. She also shares a harrowing real-life case involving a minister ensnared in a complex tech support scam, shedding light on the multifaceted tactics used by fraudsters today.

Financial institutions, listen up: We're calling on you to understand these tactics, support vulnerable customers, and collaborate with law enforcement to combat these scams head-on. This episode is a rallying cry for all fraud fighters to share strategies, raise awareness, and lead the charge in safeguarding our financial systems.

So, buckle up and get ready to step up your game. Let's tackle this growing menace together and create a future where fraudsters fail and victims have a fighting chance. Thanks for joining me, and don’t forget to subscribe on Apple, Spotify, or wherever you get your podcasts to never miss an episode of Banking on Fraudology.

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/

Banking on Fraudology is part of the Fraudology Podcast Network.