Banking on Fraudology

Join Erin O'Loughlin, a Senior Director at ACFCS with extensive hands-on experience in financial crime prevention, and Brian Svoboda-Kindle, Senior VP at ACFCS, as they highlight the critical need for ongoing education and collaboration among financial crime professionals. They discuss breaking down silos between fraud and AML, the value of the Certified Financial Crime Specialist credential, and the upcoming FinCrime Virtual Week. Listeners will gain insights on innovative training methods, community involvement in combating trafficking, and evolving strategies to stay ahead of emerging threats.

Banking on Fraudology is part of the Fraudology Podcast Network.In this special Telethon episode of Banking on Fraudology, host Hailey Windham is joined by fraud-fighting heavyweights Frank McKenna and Justin Davis for a lively Q&A session tackling the biggest questions in fraud prevention. The episode kicks off with a surprise appearance by Karisse Hendrick, setting the tone for an informative yet entertaining discussion.Guests call in with hard-hitting questions, including how to detect synthetic identities without advanced technology, what industry pressure is being applied to P2P payment apps, and what keeps these fraud experts up at night. Frank McKenna shares his deep concerns about human trafficking in Cambodia tied to fraud operations, while Justin Davis highlights the growing threat of first-party fraud. The experts also provide practical advice on presenting fraud data effectively to stakeholders and executives.Throughout the episode, the hosts blend humor with serious insights, even fielding some prank calls along the way. Listeners will gain valuable knowledge on emerging fraud trends, detection techniques, and communication strategies. Whether you're a seasoned fraud fighter or new to the field, this episode offers something for everyone.https://www.linkedin.com/in/justin-davis-cfe/https://www.linkedin.com/in/frankmckenna/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.In this special 4th of July episode of Banking on Fraudology, host Hailey Windham sits down with Kenny Aycock, a trusted risk professional and manager of risk management at All South Federal Credit Union. With over two decades of experience on federal task forces investigating violent crime and gang activity, Kenny brings a unique perspective to the world of financial fraud prevention.The conversation explores Kenny's journey from law enforcement to credit union risk management, highlighting how his investigative skills translate to protecting members' financial freedom. Kenny shares insights on the biggest fraud threats facing credit unions today, including impersonation scams, online account takeovers, and elder financial abuse. He emphasizes the importance of collaboration within the industry and with law enforcement to stay ahead of evolving fraud tactics.Listeners will gain valuable advice on defending against scams, educating the community, and leading fraud-fighting teams. Kenny's passion for protecting people shines through as he discusses using cutting-edge technology alongside old-school investigative techniques. Whether you're a fraud professional or simply interested in safeguarding your finances, this episode offers an inspiring look at the critical work being done behind the scenes to preserve financial freedom. Kenny AycockAbout 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/

Bryan Watkinson, a risk management expert from Affinity Federal Credit Union, dives into the world of fraud prevention and cannabis banking. He shares insights from his engaging 'Fraud Friday' social media posts, designed to simplify complex fraud topics. The conversation highlights the challenges of managing various risks, including cybersecurity and check fraud, while maintaining a calm, steady approach. Bryan emphasizes the importance of community involvement and transparency in fostering a strong risk culture, even sharing his hands-on leadership philosophy of connecting with team members over donuts.

In this engaging discussion, Matt O'Neill, a 25-year veteran of the U.S. Secret Service and cybercrime expert, reveals America’s shortcomings in combating fraud. He emphasizes the urgent need for better information sharing and collaboration between law enforcement and financial institutions. O'Neill critiques outdated systems like 314A and 314B while highlighting how other countries are innovating faster in fraud prevention. He advocates for a national anti-scam center and calls for increased funding for training local law enforcement to tackle the growing threat of financial crime.

Banking on Fraudology is part of the Fraudology Podcast Network.In this episode of Banking on Fraudology, Hailey Windham takes listeners inside the world of pig butchering scams and Operation Shamrock's efforts to combat them. Windham shares insights from her recent presentation at the ACFE Twin Cities Fraud Summit, where she and Erin West highlighted the growing threat of transnational organized crime syndicates. The episode focuses on Operation Shamrock's groundbreaking Survivor Series initiative, which brings victims' stories directly to financial institutions to identify vulnerabilities and prevent future scams.Windham recounts a particularly impactful case study of a young woman who lost $160,000 in just 10 days to a sophisticated pig butchering scheme. The scam began on a dating app and quickly escalated, with the scammer using psychological manipulation tactics to build trust and isolate the victim from her bank. Key takeaways include how scammers coach victims to lie during transaction reviews, exploit distrust in financial institutions, and structure wire transfers to avoid detection. The episode also highlights the importance of educating entire families, as the victim's mother was inadvertently pulled into supporting the scam.This episode serves as a wake-up call for banks and credit unions, emphasizing the need for greater transparency with customers about banking operations and fraud prevention measures. Windham passionately argues that financial institutions must proactively address common misconceptions about banking practices before scammers can exploit them. Listeners are challenged to consider how they can build trust and educate customers to resist manipulation attempts. Don't miss this crucial episode - tune in and join the fight against pig butchering scams.Operation ShamrockJoin now!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.In this illuminating episode of Banking on Fraudology, host Hailey Windham sits down with Jessica Cartrette, Fraud Manager at Rev Federal Credit Union, to explore the power of collaboration in fighting financial fraud. Jessica shares her journey from retail pharmacy to becoming a fraud-fighting force, emphasizing how her frontline experience as a teller shaped her approach to fraud prevention. The conversation dives deep into Rev's groundbreaking "Knockout Fraud" event, which sparked a movement of cross-institutional cooperation in South Carolina.Jessica reveals the strategies she used to break down silos within her organization, from engaging marketing teams to partnering with IT and cybersecurity departments. She stresses the importance of educating all departments about fraud risks and empowering frontline staff through targeted training. The episode highlights innovative initiatives like the South Carolina Fraud Ambassador Roundtable and Rev's "Shielding Seniors" program, showcasing how local efforts can have far-reaching impacts.Listeners will gain practical insights on building fraud committees, improving interdepartmental communication, and leveraging partnerships to stay ahead of evolving threats. Jessica's passion for community education and her commitment to collaboration over competition shine through, offering inspiration for fraud fighters at all levels. Whether you're a seasoned professional or new to the field, this episode provides actionable strategies to enhance your fraud prevention efforts. Tune in to discover how working together can create a more resilient financial ecosystem and learn why Jessica believes that in the fight against fraud, we're truly all in this together.Jessica on LinkedInhttps://www.revfcu.com/adulting/https://www.revfcu.com/knockout-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/

The host shares her exciting journey into fraud prevention and the launch of a consulting firm dedicated to helping credit unions. A shocking case of insider fraud reveals how trust can be exploited, with an operations manager embezzling over $65,000. Strategies for fraud prevention are discussed, emphasizing transparency, regular audits, and strong internal controls. The importance of collaboration between fraud teams and internal audits is highlighted, along with a call to action for fraud fighters to stay vigilant and proactive.

Andrew Austin, a fraud expert, shares a poignant story about his 81-year-old father falling victim to a crypto scam. He discusses systemic failures in fraud detection at banks and crypto ATMs, revealing how compromised devices make individuals vulnerable. The conversation highlights the urgent need for better training, empathy for victims, and improved technology in fraud prevention. Austin emphasizes the importance of community awareness and collaboration among fraud fighters to protect the elderly and enhance security measures against scams.

Andrew Austin, Head of Fraud Prevention at Sardine, brings a wealth of knowledge from military service to fintech. He discusses the intricate world of financial scams, emphasizing the role of device intelligence and behavioral biometrics in fraud detection. Personal stories about his father's experience with a crypto scam highlight the tragedy and emotional cost of fraud. Austin also stresses the importance of interdepartmental collaboration and understanding customer behavior, advocating for a dynamic approach to risk management in preventing financial crimes.