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You don’t hear that every day! ePayResources’ Fraud Reduction Meetings, FREE to our members, may be the exception to the rule.

Maybe I’m biased as an ePayResources team member, but here’s what I observed in the recent Richmond Fraud Reduction Meeting:

Lively discussion of real-life fraud examples:

• Elder financial exploitation (note: World Elder Abuse Awareness Day is June 15 each year)
• Card cracking
• P2P and A2A external transfers
• Wire fraud
• Washed Treasury checks
• U.S. Mail theft
• Money mules
• Online gaming scams

Sharing of mitigation resources, best practices, and tips:

• Getting responses to 314(b) information sharing requests
• Using Nacha’s Risk Management Portal to find FI contacts
• Sharing information in ePayResources’ Fraud Forum community
• Verifying U.S. Treasury checks
• Looking for online banking logins that use APIs
• Watching out for suspicious wire senders
• Helping your frontline ask questions and say “no”
• Working with local law enforcement
• Adopting a Suspicion of Fraud Abuse Policy or Member Expulsion Policy

The most exciting moment was the real-time collaborative incident resolution! An attendee got a call during the meeting from their institution about a potential elder financial exploitation situation occurring in a branch at that very moment, and the group collaborated on quick action to take to avert a potential loss for the elderly accountholder.

What can you do to move from a reactive to proactive approach to fraud? Take these steps:

• Attend our FREE Fraud Reduction Meetings - held in person in multiple locations and virtually year-round.
  
• Join and engage in our online Fraud Forum community - 24/7/365 access to networking, discussion, and information sharing.
  
• Make sure you are getting Fraud Alerts - log in to www. epayresources.org and click My ePayProfile, then select your communication preferences. (Watch for a survey coming soon on the potential expansion of the content and delivery methods for these alerts!)
  
• Register for our Financial Crimes Symposium - held September 19, 2024, in San Antonio with a virtual attendance option. We are very excited about our keynote speaker, white hat hacker Jeremiah Stevens!

ePayResources is here for you in the fight against payments fraud! Our team of certified professionals is ready with insight and guidance for your questions on the Payments Answerline™ at 800-475-0585, Option 1.