Session 3: Fraud’s Shift from ATOs to Scams

 Online fraud targeting financial account holders has shifted from account take-over to scams. Fraudsters are taking control of online accounts and moving funds out themselves and convincing account holders to send funds to accounts they control. Banks and financial services providers are rapidly adapting their controls to mitigate this long term and pervasive trend. In this session, participants will get an overview of best practices to mitigate and control customer losses due to scams, with a focus on detection, treatment, and case management of payments that are at risk of being a scam.

Session 4: What Goes Wrong When You Don’t Get Identity Right

Public and private sector businesses demonstrated the challenges of digital identity-proofing during the distribution of much-needed funds to citizens across the globe during the pandemic. Industry risk experts are calling the related fraud that has been occurring the "big money grab" and consider this one of the largest organized assaults in history to date. Financial institutions continue to see unprecedented attack rates with many bad actors honing their fraud skills during the pandemic. This session will share insights in the battle that the financial services industry faces. Attendees will gain insight into the fraud dynamics of the big money grab, the effect on US consumers and markets, financial services impact headlines stories, and how the telecommunications industry plays a critical role in the fraud prevention ecosystem.