Fraud Forum

The AMLAC Fraud Forum

As these headlines demonstrate, fraudulent activity cuts across the entire landscape of the financial services industry. While it’s impossible to completely eliminate fraud, the future health and security of the financial system will require increased efforts by law enforcement, industry fraud professionals and security officers to implement better controls to deter and detect fraudulent activity to reduce losses and protect institutions and their customers. In this new Forum held in conjunction with the AMLAC Forum, 10 sessions and a fully-day symposium have been designed to help you assess your institution’s fraud program’s readiness and robustness, and collaborate with your peers on best practices for managing fraudulent activity and protecting your customers.

  • Maintaining and Capitalizing on Your Reputation as a Trusted Financial Institution
  • Online Trading and Account Access: Methods for Mating Convenience with Confidence
  • Identifying Behavioral or Transactional Patterns that Portend Fraudulent Activity
  • Creating an In-House Financial Intelligence Unit to Serve AML and Fraud Departments

9:00 -3:00 Full-Day Symposium || Wednesday, November 12, 2008

Identifying and Defending Against Current and Emerging Fraudulent Schemes

The use of shell companies, financial instruments obtained using falsified information, hacked electronic accounts, trade finance systems and fraudulent identities have garnered significant attention over the past few years. In this in-depth workshop, you’ll learn how these schemes work, and identify the proper protocols for detecting, deterring and reporting illicit activity.

9:15

Part I – Panel Discussion

Topics will include:

  • Understanding the best ways to communicate suspicious or fraudulent activity between institutions and law enforcement
  • Hear from law enforcement on the types of activities they’ve uncovered, and the red flags that alerted them to the activity
  • Best practices for providing information to law enforcement and regulators to aid in prosecutions, deter fraudulent activity, and identify new schemes

David MacNair, SVP, SMITH BARNEY 

Michael Petronella, FBI 

10:15

Networking & Refreshment Break

10:30

Part II – Case Study Reviews

During this segment, attendees will break into groups to review fraud case studies, covering a wide variety of financial activity. Following the review, each group will report back a list of suggested action items a fraud or compliance officer should take to better detect,monitor and act upon these threats.

 

12:00-1:00Luncheon for Delegates and Speakers
1:30-3:30Symposium Continues
1:00

Part III- Tools and Techniques for Identifying Fraudulent Activity

  • Leaders will discuss the latest detection techniques and tools they’ve used to identify fraudulent or criminal activity.
  • Tips for finding and selecting the newest technology to your advantage for enterprisewide financial transaction monitoring and management
  • Learn how to set up Excel and other commonly used applications to manage risk assessments, transaction analysis, and manage investigations without using outside software programs
  • Discovering the free tools available on theWeb to help you conduct due diligence and investigations into suspicious activity

Juan Llanos
UNIDOS FINANCIAL SERVICES

David MacNair, SVP, SMITH BARNEY  

Albert V. De Leon, ESQ.,
Head of Compliance Advisory, Monitoring & Reporting-OCNA,
ZURICH FINANCIAL SERVICES

2:15

Part IV – Hypothetical Case Studies

Following the discussion, attendees will be spit up into three groups, and leaders for each will provide a set of facts detailing customer information, transaction records and other relevant information. Each group will then have to analyze the data and situation and determine, what, if any fraudulent activity is occurring, and then discuss the proper course of action to take.

 

3:30Symposium Concludes