Are you protecting your customers from fraud?
The LinkedIn post below does a good job of succinctly describing a “typical fraud investigation cycle” with the aim of protecting customers and reducing financial risk. Shashank Deshmukh Aspirant Investment Banking Operations Professional | CIBOP Program | B. Com | LLB | Financial Market Enthusiast | Banking Operations | Capital Markets. 🚨 𝐅𝐫𝐨𝐦 𝐓𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧 𝐀𝐥𝐞𝐫𝐭 […]
Protect highlighted at this TD Bank reimagine meeting
Consumers of banking whether with TD Bank or other financial institutions, would wholeheartedly agree and support the message delivered here by Sophia Leung of TD Bank. Given the financial losses customers of banking are experiencing through various scam schemes to remove them of their money, what safeguards can banks put in place to do everything […]
EDD is an additional safeguard and control to prevent fraud
In this current environment, where fraud through enabled AI, is so prevalent and pervasive within our global financial system, our financial institutions as frontline gatekeepers from keeping the wolves from getting your money must adopt a fraud prevention framework which delivers results, not reports after the fact. Enhanced Due Diligence (EDD) is one that should […]
Transaction monitoring a key to preventing fraud
As this fraud and AML professional indicates, red flags give reason to investigate further. You need to recognize them and act immediately to ensure the transaction is legitimate. In doing so, it can be the difference between stopping a fraudulent transaction and not sending money into the hands of proceeds of crime with all the […]
Where are you sending your money?
Before sending your money anywhere, domestic or international, do you know the account and who is behind it? You need to verify it independently if someone you do not know is telling or directing you in wire instructions what account to send money to? This LinkedIn post gets into you understanding the relationships ” between […]