Risky Business: Detecting RDC Deposit Fraud Today and Tomorrow Recording

As mobile banking continues to rise, so do more sophisticated fraud attempts using mobile banking the channel. In fact, a 2016 industry analysis across 400 financial institutions found 72% of mobile banking fraud included use of RDC and fraudulent checks.

What can FIs do to further mitigate risk …

Risky Business: Detecting RDC Deposit Fraud Today and Tomorrow

Thursday, June 22, 2017

3:00 pm – 5:00 pm (EST)


Click firm logo/firm name to learn more
Digiliti Money, Inc.

Advanced Fraud Solutions

Kaufman Rossin

UMACHA

Digiliti Money, Inc.

Digiliti Money, Inc. is a leading cloud-based, SaaS technology provider serving the financial services industry with mobile money and remote deposit capture solutions for PC, Mac and mobile. Founded in 2010, Digiliti Money has quickly grown into a technology leader and trusted partner of some of the world’s largest and most respected financial organizations. With remarkable growth, an impressive client base and award-winning technologies, Digiliti Money continues to drive innovation and deliver world-class solutions to financial institutions of all sizes.

The company's industry-leading solutions help clients to increase customer engagement, grow revenues and gain competitive advantage. Digiliti Money’s cloud-based technology platform simplifies development, deployment and servicing of consumer and commercial solutions—minimizing cost and accelerating speed-to-market and ROI. Enabled by Digiliti Money’s complete suite of business and consumer solutions, financial institutions can better serve the needs of all their customers. For more information, visit www.digilitimoney.com.

Website: http://www.digilitimoney.com/

Advanced Fraud Solutions

Advanced Fraud Solutions' mission is to help financial institutions prevent check deposit, plastic card, and online banking fraud by utilizing a combination of their intuitive web-based software solutions at the frontline and back office. On a daily basis, Advanced Fraud Solutions' innovative fraud prevention tools help financial institutions of all sizes throughout the country eliminate losses and safeguard their financial assets, providing the level of protection that end-customers demand. At Advanced Fraud Solutions, they believe the best way to fight fraud is to prevent it. For more information, please visit: www.advancedfraudsolutions.com

Website: http://www.advancedfraudsolutions.com/

Kaufman Rossin

Kaufman Rossin has represented Florida businesses for more than 50 years and serves international clients in dozens of countries. The CPA and advisory firm is one of the largest in the U.S., providing traditional accounting, audit and tax services, as well as business, risk and forensic advisory services. The firm has won significant awards, including repeat honors as the Best Accounting Firm to Work For among large firms nationwide and locally.  With more than 300 team members, the firm prides itself on offering the resources of a powerhouse, personally delivered.  Go beyond the numbers at kaufmanrossin.com.

Website: http://www.kaufmanrossin.com/

UMACHA

UMACHA (Upper Midwest Automated Clearing House Association) is known for its extensive knowledge base, high quality services, as well as its national presence in the payments industry. UMACHA represents its members in the national market through participation in, and through its membership in the National Automated Clearing House Association (NACHA) and the Electronic Check Clearing House Association (ECCHO).

Website: http://www.umacha.org/

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Hunter Wolfe
Hunter Wolfe
Senior Vice President of Service Delivery
Digiliti Money, Inc.

Hunter is senior vice president of Service Delivery for Digiliti Money where he oversees mobile technology Implementations for banks, credit unions and other financial services organizations.  He has more than 20 years’ experience in the financial services industry facilitating development and implementation of complex technology and software projects that increase operational efficiencies, customer satisfaction and revenues. 

Jordan Bothwell
Jordan Bothwell
Business Development Manager
Advanced Fraud Solutions

Jordan joined AFS in 2012, and is responsible for business growth and account management in the western half of the U.S.  In her time with AFS, the company has grown from 300 clients in 30 states to over 550 across the U.S.  With that growth, Jordan has seen the fraud market evolve and expand, and has shaped the corresponding new product lines to address these different fraud avenues.  This evolution has shone both a regional and national spotlight on Advanced Fraud Solutions, recognized as one of “The Fastest Growing Private Companies in America” and “Top 100 Financial Services Companies in the United States” by Inc. Magazine.

Alejandro Mijares, CISA, CRISC, MSMIS
Alejandro Mijares, CISA, CRISC, MSMIS
Risk Advisory Services (RAS) Manager
Kaufman Rossin

Alejandro Mijares is Risk Advisory Services Manager at Kaufman Rossin where he provides internal IT audit, system validation, and information security review services to financial institutions supervised by the FDIC, FRB, State of Florida, and OCC. He has performed IT and Cybersecurity risk assessments, IT controls reviews, and evaluation of IT governance regulations and processes for more than 25 banks and foreign agencies in Florida. Alejandro’s work experience also includes analyzing and evaluating information technology security risks and internal controls, process mapping, system validation, SSAE 16 review services, and providing Sarbanes-Oxley external and internal audits for clients in a variety of industries, including financial services companies, healthcare, retail and technology. He is a Certified Information Systems Auditor (CISA),  Certified in Risk and Information Systems Control (CRISC), with a Master’s degree in Management Information Systems and a Bachelor’s degree in Accounting and Information Systems.

Jen Wasmund
Jen Wasmund
Vice President of Education & Compliance
UMACHA

Jen joined UMACHA in March 2012 and has conducted hundreds of ACH Audits, Risk Assessments and RDC Risk Assessments.  She is also a nationally recognized speaker on electronic payments topics.  Her current role as Vice President of Education and Compliance is to develop the strategy for UMACHA’s Compliance and Education Services programs.  Jen is a graduate of the Olin School of Business at Washington University in St. Louis.  Prior to joining UMACHA, Jen managed the operations and compliance for ACH origination, remote deposit capture, electronic banking and debit card programs at a community bank.  Jen currently holds the AAP, CTP and NCP certifications.  She is currently serving as Chair of the national RPA Forum Operations Committee and is a member of The Payments Institute Board of Regents, NACHA’s Accredited Payments Risk Professional Oversight Panel and NACHA’s Rules and Operations Committee.

Key Topics

As mobile banking continues to rise, so do more sophisticated fraud attempts using mobile banking the channel. In fact, a 2016 industry analysis across 400 financial institutions found 72% of mobile banking fraud included use of RDC and fraudulent checks.

What can FIs do to further mitigate risk for fraud and other attacks using mobile RDC? Innovative advances in risk mitigation can better detect fraudsters of today and tomorrow—and help FIs reduce overall loss.

Key objectives with this webinar:

  • Understand 5 key fraud trends to watch for in 2017 and beyond.
  • Learn new technologies and approaches to fraud that reduce exposure for financial institutions.
  • Best practices in RDC Risk Management

Who Should Attend

Credit Info
Course Level: Intermediate
Prerequisite: Experience in risk assessments
Method Of Presentation: Group-Internet Based
Credits: 2.0
Course Code: 146728
NASBA Field of Study: Information Technology – Technical
NY Category of CLE Credit: Skills

Attendees who need CE credits, please be informed that there is a minimal fee. Contact our CE Coordinator for details at [email protected]

As mobile banking continues to rise, so do more sophisticated fraud attempts using mobile banking the channel. In fact, a 2016 industry analysis across 400 financial institutions found 72% of mobile banking fraud included use of RDC and fraudulent checks.

What can FIs do to further mitigate risk for fraud and other attacks using mobile RDC? Innovative advances in risk mitigation can better detect fraudsters of today and tomorrow—and help FIs reduce overall loss.

Key objectives with this webinar:

  • Understand 5 key fraud trends to watch for in 2017 and beyond.
  • Learn new technologies and approaches to fraud that reduce exposure for financial institutions.
  • Best practices in RDC Risk Management

SEGMENT 1: 
Hunter WolfeSenior Vice President of Service Delivery
Digiliti Money, Inc. 

AND

Jordan BothwellBusiness Development Manager
Advanced Fraud Solutions

  • mRDC rise and fraud landscape (current usages of mRDC—popularity with specific demographics, popular features; research around increase with RDC fraud)
  • 5 key trends with fraud for banks to watch for (including duplicate presentments, scams, altered items)
  • New technologies and approaches to fraud that reduce exposure for financial institutions (including smart limits, endorsement analytics, etc.)

SEGMENT 2:
Jen WasmundVice President of Education & Compliance
UMACHA

  • Findings from the field – real results from RDC risk assessments and audits
    • Funds availability and agreements
    • Dealing with duplicates
    • Operational controls

SEGMENT 3:
Alejandro Mijares, CISA, CRISC, MSMISRisk Advisory Services (RAS) Manager
Kaufman Rossin

  • FFIEC update for RDC
  • RDC Risk Management

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