Banking on Fraudology

In this conversation, Ken Palla, a former online security manager at Union Bank and fraud prevention expert, discusses his open letter to U.S. regulators, calling for improved scam controls and better data sharing among financial institutions. He highlights the growing threat of payment scams and offers strategies for banks to enhance consumer protection. Ken emphasizes the importance of updating regulations based on past successful frameworks and urges collaboration across sectors to combat the rising tide of fraud.

SentiLink is at the forefront of fraud prevention and identity verification, offering innovative solutions to help financial institutions tackle synthetic fraud, identity theft, and more. We’re thrilled to have them onboard as partners in our mission to equip you with the tools and knowledge you need to stay ahead in this ever-evolving landscape.Stay tuned for more great episodes and insights—thanks again to SentiLink for supporting the podcast! Visit: https://www.sentilink.com/ and learn all about them!Welcome to the Banking on Fraudology podcast! Today we have a special Thanksgiving edition. Instead of our usual deep dives into scam schemes and fraud trends, we'll be focusing on gratitude and celebrating the wins, big and small, within our incredible fraud-fighting community. We'll be sharing heartfelt stories from fraud fighters around the world, reflecting on what we're thankful for—from breakthroughs in fraud detection to the amazing people who inspire us every day. So grab a coffee or a slice of pumpkin pie and join me as we celebrate the support, camaraderie, and achievements that make our work so meaningful. Stay tuned for some beautiful reflections that'll warm your heart this holiday season.--------------------------------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/

SentiLink is at the forefront of fraud prevention and identity verification, offering innovative solutions to help financial institutions tackle synthetic fraud, identity theft, and more. We’re thrilled to have them onboard as partners in our mission to equip you with the tools and knowledge you need to stay ahead in this ever-evolving landscape.Stay tuned for more great episodes and insights—thanks again to SentiLink for supporting the podcast! Visit: https://www.sentilink.com/ and learn all about them!The latest episode of Banking on Fraudology tackles one of the most pressing issues in financial fraud today - first-party synthetic identity fraud. Hailey Windham and David Maimon, head of Fraud Insights at Sentilink, take listeners on a deep dive into the shadowy world of synthetic identities. Maimon, drawing on his academic background and industry experience, explains how fraudsters combine real and fake personal information to create convincing synthetic identities. The episode explores the patient, methodical approach criminals take to build credit histories for these identities, culminating in lucrative "bust out" schemes. Maimon and Windham discuss the proliferation of synthetic business fraud, the role of AI in creating fake verification videos, and why historical data remains crucial in detecting synthetics. The conversation also touches on disturbing trends like increased youth involvement in fraud and the challenges facing identity verification systems.Don't miss this opportunity to learn from leading experts in the field - listen now and level up your synthetic fraud detection skills.Webinar referenced in the episode----------------------------------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/

SentiLink is at the forefront of fraud prevention and identity verification, offering innovative solutions to help financial institutions tackle synthetic fraud, identity theft, and more. We’re thrilled to have them onboard as partners in our mission to equip you with the tools and knowledge you need to stay ahead in this ever-evolving landscape.Stay tuned for more great episodes and insights—thanks again to SentiLink for supporting the podcast! Visit: https://www.sentilink.com/ and learn all about them!----------------------------Welcome back to another exciting episode of "Banking on Fraudology"! I'm your host, Hailey Windham, and today we're diving deep into the world of fraud detection with our special guest, Jen Martin. With over 15 years of banking experience and a robust background in criminal justice and statistics, Jen brings a wealth of knowledge and a passion for data-driven solutions in the fight against fraud.In this episode, Jen takes us through her fascinating career journey, from her early aspirations to become a crime statistician to her pivotal roles in banking and fraud prevention. We'll explore the transformative power of real-time data models and advanced analytics in combating fraud, as well as the critical importance of collaborative efforts across different departments within an organization.We'll also discuss the evolving landscape of fraud threats, particularly post-pandemic, and the need for quick, adaptable strategies to stay ahead. Jen provides invaluable insights into tackling specific challenges such as check fraud and maintaining a balance between effective fraud controls and a positive customer experience. We'll touch on the strain of staff retention and the importance of ongoing training, especially in frontline positions.Join us as we unravel the complexities of fraud prevention, the necessity of creative data utilization, and the indispensability of cross-functional teamwork. Stay tuned for practical advice and inspiring stories from one of the leading voices in the fraud-fighting community. Let's get started!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 Network, and produced by Podyssey.io.

SentiLink is at the forefront of fraud prevention and identity verification, offering innovative solutions to help financial institutions tackle synthetic fraud, identity theft, and more. We’re thrilled to have them onboard as partners in our mission to equip you with the tools and knowledge you need to stay ahead in this ever-evolving landscape.Stay tuned for more great episodes and insights—thanks again to SentiLink for supporting the podcast! Visit: https://www.sentilink.com/ and learn all about them!--------------------Welcome back, fraud fighters, to another compelling episode of Banking on Fraudology! I'm your host, Hailey Windham, and today’s episode is packed with eye-opening insights into the ever-evolving world of fraud. We'll kick things off with a personal recap of my recent trip to California, where I collaborated with Erin West on the groundbreaking Operation Shamrock.Our main event? A hard-hitting news segment featuring three fresh and disturbing fraud stories: from scammers intercepting customer service calls, Chase taking bold legal action against glitch fraudsters, to the alarming misuse of the Zelle payment app for harassment. Each story, sourced from the fraud expert Frank McKenna's Frank on Fraud newsletter, paints a vivid picture of where the fraud battle is heading. So buckle up and get ready to dive into the complexities and innovations in fraud prevention. Let's get started!------------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 Network, and produced by Podyssey.io.

SentiLink is at the forefront of fraud prevention and identity verification, offering innovative solutions to help financial institutions tackle synthetic fraud, identity theft, and more. We’re thrilled to have them onboard as partners in our mission to equip you with the tools and knowledge you need to stay ahead in this ever-evolving landscape.Stay tuned for more great episodes and insights—thanks again to SentiLink for supporting the podcast! Visit: https://www.sentilink.com/ and learn all about them!---------------In this episode of Banking on Fraudology, host Hailey Windham engages in an insightful conversation with Jen Lamont, a dedicated BSA compliance officer and fraud team leader from a credit union in Washington state. They delve into Richard Stock's thought-provoking article, "Making a Small Change that Will Bring Big Change," uncovering a transformative perspective in financial crime investigation.Together, Hailey and Jen explore the profound shift from routine compliance tasks to a human-centered approach that emphasizes empathy and the real-life impact of financial crime on victims. Jen shares her journey into the fraud field and the invaluable mentorship that shaped her career, emphasizing the importance of viewing their work as protectors of people rather than mere enforcers of regulations. Join Hailey and Jen as they explore the transformative power of empathy and collaboration in redefining the landscape of financial crime investigation.-------------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 Network, and produced by Podyssey.io.

Freddy Massimi, program lead at the Anti-Human Trafficking Intelligence Initiative, tackles the intersection of finance and social justice. He discusses how financial institutions play a crucial role in combating human trafficking and elder exploitation. The conversation highlights the alarming rise of sextortion among teens, urging proactive community outreach. Freddy also shares insights on collaboration between banks and law enforcement to improve fraud prevention. Listeners gain valuable perspectives on protecting vulnerable populations from financial scams.

Welcome back, Fraud Fighters!SentiLink is at the forefront of fraud prevention and identity verification, offering innovative solutions to help financial institutions tackle synthetic fraud, identity theft, and more. We’re thrilled to have them onboard as partners in our mission to equip you with the tools and knowledge you need to stay ahead in this ever-evolving landscape.Stay tuned for more great episodes and insights—thanks again to SentiLink for supporting the podcast! Visit: https://www.sentilink.com/ and learn all about them!--------------------------In this episode of Banking on Fraudology, host Hailey Windham engages in a compelling dialogue with Paul Raffile, a renowned intelligence analyst and author of the influential report "A Digital Pandemic." Together, they explore the urgent need for financial institutions to proactively address sextortion, a rapidly growing form of online blackmail that predominantly targets minors.Paul sheds light on valuable resources from the FBI, Homeland Security Investigations, and the National Center for Missing and Exploited Children, emphasizing the vital role banks play in recognizing red flags and updating fraud detection systems. He shares insights into the alarming rise in sextortion cases—from 139 in 2021 to 26,000 in 2023—and the devastating impact, including numerous teen suicides linked to these crimes.Hailey and Paul discuss practical strategies for banks to safeguard their customers, such as tailoring fraud detection for different account types, securing funds, and implementing multi-factor authentication. They stress the importance of empathetic customer service and forming specialized task forces to support victims effectively.Listen in as they address the continuously evolving nature of sextortion scams driven by technological advancements and highlight ongoing legislative efforts like South Carolina's "Gavin's Law" aimed at combating this digital menace.--------------------------------------------------------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.

SentiLink is at the forefront of fraud prevention and identity verification, offering innovative solutions to help financial institutions tackle synthetic fraud, identity theft, and more. We’re thrilled to have them onboard as partners in our mission to equip you with the tools and knowledge you need to stay ahead in this ever-evolving landscape.Stay tuned for more great episodes and insights—thanks again to SentiLink for supporting the podcast! Visit: https://www.sentilink.com/ and learn all about them!---------------In this episode of Banking on Fraudology, host Hailey Windham engages in an insightful discussion with Christine Murray, the VP of Audit and Compliance at Kohler Credit Union. They delve into innovative uses of internal auditors as advisors in product and service development, preventing potential fraud and compliance issues before new launches.Christine shares her unique approach to fostering a positive company culture through personal interactions during branch audits. She stresses the importance of maintaining internal audit independence and objectivity, suggesting when to leverage external audits. Through the lens of history and compliance education, Christine highlights how understanding the reasons behind rules can drive adherence and improve organizational culture.Join them for a compelling conversation where internal audit is reimagined as a supportive partner dedicated to enhancing processes and fostering ethical practices within financial institutions.---------------------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.--------------------Banking on Fraudology is part of the Fraudology Network, and produced by Podyssey.io.

🎙️ Welcome back, Fraud Fighters! 🎙️SentiLink is at the forefront of fraud prevention and identity verification, offering innovative solutions to help financial institutions tackle synthetic fraud, identity theft, and more. We’re thrilled to have them onboard as partners in our mission to equip you with the tools and knowledge you need to stay ahead in this ever-evolving landscape.Stay tuned for more great episodes and insights—thanks again to SentiLink for supporting the podcast! Visit: https://www.sentilink.com/ and learn all about them!----------------------------Thank you for joining another episode of Banking on Fraudology with your host, Hailey Windham. Today's episode holds special significance as we prepare for World Romance Scam Prevention Day on October 3, a day championed by the passionate Kathy Waters of the nonprofit Advocating Against Romance Scammers (AARS). We'll dive deep into the recent CBS' News series "Anything for Money," which exposes the dark world of romance scams and the emotional and financial toll they take on victims. Hailey shares her personal reactions, highlighting both the merits and problematic aspects of the series' approach to bringing these crimes to light. We'll also explore the role banks play in preventing fraud, spotlighting where they excel and where they fall short, particularly in terms of victim support and intervention. Finally, we'll confront the issue of victim shaming and discuss how to foster a more empathetic and proactive fraud prevention culture. Tune in for a comprehensive discussion that aims to educate, raise awareness, and inspire change in the fight against romance scams. Stay vigilant and stay informed, Fraud Fighters. Let's get into it!----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 Network, and produced by Podyssey.io.----Banking on Fraudology is part of the Fraudology Podcast Network.