Banking on Fraudology

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. Learn more about our sponsor, Unit21:- See Unit21 in action https://www.unit21.ai/podcast- Follow Unit21 on LinkedIn https://www.linkedin.com/company/unit21/- Watch Unit21 Virtual Summit Hailey session replay https://hubs.li/Q02LbZmC0-Request your copy : State of Fraud & AML ReportWelcome to Banking on Fraudology! Today, we're diving deep into the world of financial crime with our guest, Karen Boyer, a banking veteran with 24 years of experience, including 17 focused on fraud prevention and mitigation at M and T Bank. In this episode, Karen and our host, Hailey Windham, explore the complex challenges banks face in detecting fraudulent activities and understanding the intent behind accounts.We'll discuss the growing problem of money mules and the significant impact they have on both society and the economy, often funding organized crime in non-friendly nations. Karen shares her insights on the need for collaboration between banks, telecoms, social media platforms, and regulatory bodies to tackle these issues effectively.Hailey and Karen will examine the shift from traditional Bank Secrecy Act (BSA) compliance to proactive fraud prevention at the point of money movement. They emphasize the importance of real-time transaction monitoring, the crucial role of fraud and BSA team partnerships, and the ongoing challenges law enforcement faces in understanding and addressing banking fraud.Also, we'll talk about the liability shift that could hold financial institutions more accountable for fraudulent activities passing through their systems and the increased resource allocation post-Covid to combat these crimes. Karen predicts the future landscape of financial fraud, highlighting emerging threats like generative AI and deep fake technology, as well as the rise of synthetic identities in the fraud world.Join us for a candid conversation that underscores the critical need for industry-wide awareness and collaboration to prevent, detect, and mitigate fraud. Don’t forget to subscribe to "Banking on Fraudology" to stay updated on the latest episodes filled with expert insights and strategies for navigating the evolving landscape of financial 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/ Banking on Fraudology is part of the Fraudology Podcast Network.

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. Learn more about our sponsor, Unit21:- See Unit21 in action https://www.unit21.ai/podcast- Follow Unit21 on LinkedIn https://www.linkedin.com/company/unit21/- Watch Unit21 Virtual Summit Hailey session replay https://hubs.li/Q02LbZmC0-Request your copy : State of Fraud & AML ReportWelcome to Banking on Fraudology! Today's special edition brings a unique twist. Join our host, Hailey Windham, as she's accompanied by her daughter Adalyn and Adalyn’s friend, Katelyn, for an engaging and educational session on fraud and online scams.In this episode, we'll delve into the real-world implications of fraud and scams, emphasizing the importance of awareness and education from a young age. Hear firsthand experiences and insightful conversations about how Adalyn and Katelyn navigate the digital landscape safely, the lessons they've learned from police officers and family members, and their innovative ideas to make fraud education engaging for their peers.We'll also discuss the various scams affecting youth today, such as insufficient fund checks and blackmail schemes like sextortion. Our guests share thoughtful advice on handling and reporting scams, and brainstorm creative ways to incentivize and implement fraud education in schools.Get ready for an enriching discussion that aims to bridge the knowledge gap and equip our younger generation to be savvy and safe in the digital world. Don't forget to subscribe and share this episode with students, parents, and educators looking to make a meaningful impact on fraud awareness.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 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. Learn more about our sponsor, Unit21:- See Unit21 in action https://www.unit21.ai/podcast- Follow Unit21 on LinkedIn https://www.linkedin.com/company/unit21/- Watch Unit21 Virtual Summit Hailey session replay https://hubs.li/Q02LbZmC0-Request your copy : State of Fraud & AML ReportIn this episode, we explore the proactive role of ethics and internal audits in combating fraud, the impact of technology on ethical behavior, and the crucial interplay between ethical conduct and customer trust. Amanda "Jo" Erven shares her journey from LinkedIn connections to becoming a full-time professor and head of ACE, a company specializing in audit, consulting, and education.We also dive into compelling real-world stories, like a CEO who fell victim to a cryptocurrency scam, and discuss the upcoming fraud retreat event in August, which promises to offer engaging sessions on fraud, cyber issues, AI, and more, while emphasizing personal well-being. Whether it's talking about promoting ethical behavior through training, discussing the Wells Fargo scandal, or the significance of addressing even minor financial discrepancies, this episode underscores the importance of ethics in every facet of banking.Join us as we unravel these topics and enrich our understanding of how ethical behavior is paramount in preventing fraud and fostering a trustworthy banking environment. Don't miss this engaging and educational conversation on Banking on Fraudology!---------------------------------Connect with Amanda: https://www.linkedin.com/in/amanda-jo-erven-ace/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 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. Learn more about our sponsor, Unit21:- See Unit21 in action https://www.unit21.ai/podcast- Follow Unit21 on LinkedIn https://www.linkedin.com/company/unit21/- Watch Unit21 Virtual Summit Hailey session replay https://hubs.li/Q02LbZmC0-Request your copy : State of Fraud & AML ReportWelcome to another episode of Banking on Fraudology with Hailey Windham. In this episode, we have a fantastic guest joining us, Nyla Cortes, the director of compliance at Earth Mover Credit Union. Hailey and Nyla dive deep into the world of fraud detection and prevention in financial institutions, focusing particularly on the risks within call centers and the importance of tailored training for staff.Nyla shares her journey from being a teller to her current role, along with insights into the implementation of robust internal reporting systems and the creation of a culture rooted in trust and education. They also explore the value of Suspicious Activity Reports (SARs), collaboration between departments, and the need for consistent and transparent reporting practices.Tune into the discussion on strategies for empowering frontline staff, how to bridge gaps between compliance and fraud teams, and practical approaches to enhance your institution's fraud detection and reporting mechanisms. Don't miss this insightful conversation that promises to equip you with valuable tools and knowledge to fight financial fraud more effectively.-----------------------------------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/ Connect with Nyla: https://www.linkedin.com/in/nyla-d-cortes/-----------------------------------Banking on Fraudology is part of the Fraudology Podcast Network.

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. Learn more about our sponsor, Unit21:- See Unit21 in action https://www.unit21.ai/podcast- Follow Unit21 on LinkedIn https://www.linkedin.com/company/unit21/- Watch Unit21 Virtual Summit Hailey session replay https://hubs.li/Q02LbZmC0-Request your copy : State of Fraud & AML ReportWelcome 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.

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. Learn more about our sponsor, Unit21:- See Unit21 in action https://www.unit21.ai/podcast- Follow Unit21 on LinkedIn https://www.linkedin.com/company/unit21/- Watch Unit21 Virtual Summit Hailey session replay https://hubs.li/Q02LbZmC0-Request your copy : State of Fraud & AML ReportIn this episode, our host Hailey Windham is joined by Becky Reed, a 30-year veteran in the credit union industry and an expert in technology and leadership. Together, they explore the transformative potential of blockchain and web3 technologies in enhancing fraud detection and data transparency in financial institutions.We'll discuss how traditional payment systems struggle with inefficiencies and how cryptocurrencies and distributed ledger technologies could offer real-time solutions and stronger consumer protection. Becky Reed shares insights from her new book, "Credit Unions and a Financial Renaissance," and breaks down key concepts like decentralized finance (DeFi) and self-sovereign digital identities.From the misconception that smaller credit unions lack innovation to the importance of digital identity and the future of decentralized networks, this episode is packed with valuable information for anyone interested in the evolving landscape of financial technology. So, tune in as we uncover how credit unions can adapt to future innovations and effectively protect their members from fraud. 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/ Connect with Becky: https://www.linkedin.com/in/becky-reed-50056518/Get Becky's Book: https://a.co/d/2V3kEFP Banking on Fraudology is part of the Fraudology Podcast Network.

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. Learn more about our sponsor, Unit21:- See Unit21 in action https://www.unit21.ai/podcast- Follow Unit21 on LinkedIn https://www.linkedin.com/company/unit21/- Watch Unit21 Virtual Summit Hailey session replay https://hubs.li/Q02LbZmC0-Request your copy : State of Fraud & AML ReportWelcome to a new episode of Banking on Fraudology. Join Hailey Windham as she dives deep into the world of first-party fraud with Alex Faivusovich, the head of fraud risk at Unit 21. With over 15 years of experience in fraud prevention, Alex shares his expert insights on the growing issue of first-party fraud, especially among young individuals, and highlights its long-term consequences.In this episode, we unravel the complexities of first-party fraud, from romance scams to refund abuse, and discuss how the pandemic has exacerbated these activities. Alex emphasizes the importance of educating youth and financial institutions on recognizing and preventing fraud. He also talks about the shift from transaction-level fraud detection to understanding customer lifecycles and behaviors, advocating for better data orchestration and informed decision-making.Together, they explore the frustration around the lack of legal consequences for fraudsters and the need for more efficient Know Your Customer (KYC) processes. We also touch on the ethical challenges of creating a global consortium to track fraudsters. Join us as we venture into the intricate world of first-party fraud and uncover strategies to protect both customers and 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/ Connect with Alex: https://www.linkedin.com/in/stopfraud/

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. Learn more about our sponsor, Unit21:- See Unit21 in action https://www.unit21.ai/podcast- Follow Unit21 on LinkedIn https://www.linkedin.com/company/unit21/- Watch Unit21 Virtual Summit Hailey session replay https://hubs.li/Q02LbZmC0-Request your copy : State of Fraud & AML ReportWelcome once more to "Banking on Fraudology," where we explore the world of banking, fraud, and risk assessment. In this episode, your host Hailey Windham is joined by special guest Dana Lawrence, a seasoned expert in fintech compliance and risk management. Together, they share insights on fraud risk assessment, the importance of planning, and staying equipped to combat evolving fraud threats. From discussing real-world scenarios to offering advice on navigating the complex world of fraud-fighting, Hailey and Dana deliver valuable tips and strategies for professionals in the industry. Join us as we explore the intersection of fraud, fashion, financial security, and more!------------------------Connect with Dana: https://www.linkedin.com/in/danalawrencefintech/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 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. Learn more about our sponsor, Unit21:- See Unit21 in action https://www.unit21.ai/podcast- Follow Unit21 on LinkedIn https://www.linkedin.com/company/unit21/- Watch Unit21 Virtual Summit Hailey session replay https://hubs.li/Q02LbZmC0-Request your copy : State of Fraud & AML Report-------------------In this episode of Banking on Fraudology, host Hailey Windham engages in a profound conversation with Erin West, a seasoned cybercrime and crypto prosecutor with 25 years of experience as a district attorney. Erin has spent the last 8 years with the React Task Force, specializing in high-tech crimes, and has been instrumental in educating law enforcement on the sinister world of pig butchering scams and cryptocurrency fraud.This episode exposes all you need to know about Pig Butchering scams—a nefarious blend of romance and investment fraud that ruins lives by emptying retirement accounts and college funds. Hailey and Erin discuss the urgent need to develop proactive programs for financial institutions to combat such fraud and protect potential victims. Erin's passion for leading Operation Shamrock, a groundbreaking public-private partnership aimed at tackling these crimes on a global scale, showcases her commitment to bringing empathy and effective solutions to the battle against financial victimization.Stay tuned as we explore Erin's insights into the scam's transnational nature, the critical role of banks and credit unions in intervention, and the collaborative efforts planned to create a unified front against this escalating threat. ---------------------Connect with Erin West: https://www.linkedin.com/in/erinnordbywest/ Be part of Operation Shamrock - Pig Butchering event: HereAbout 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 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. Learn more about our sponsor, Unit21:- See Unit21 in action https://www.unit21.ai/podcast- Follow Unit21 on LinkedIn https://www.linkedin.com/company/unit21/- Watch Unit21 Virtual Summit Hailey session replay https://hubs.li/Q02LbZmC0-Request your copy : State of Fraud & AML ReportIn this episode of Banking, host Hailey Windham sits down with fraud fighting legend Frank McKenna. Together, they submerge into the daunting world of lone wolf fraud fighters. Frank shares his eye-opening experiences uncovering massive investment bank fraud that contributed to the mortgage meltdown, revealing the critical need for industry support for fraud experts. Hailey adds her own riveting insights as a former fraud leader, discussing the emotional and technical challenges of managing large financial responsibilities and the impact on employee incentives and customer trust. Together, they explore the vital role of fraud analysts in protecting society, the power of data-driven decisions, and how proper resources and recognition can empower fraud fighters. Don't miss this powerful discussion on the highs and lows of combating fraud alone and the essential changes needed within the banking industry to support these crucial roles.----------------Connect with Frank McKenna: 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.