The New Face of Fraud:

spotlessstareΑσφάλεια

29 Νοε 2013 (πριν από 3 χρόνια και 6 μήνες)

73 εμφανίσεις

The New Face of Fraud:

How to Protect Your Bank and Your Customer

Doug Johnson

Vice President and Senior Advisor

Risk Management Policy

American Bankers Association

September 14, 2009

Risk Management

Risk Management

A Simple Agenda





What are the newest exploits or new flavors to
old ones?



How are we responding?




Risk Management

Risk Management

ABA DDA Fraud Loss Reporting

First Quarter 2007 Summary

Source of POS Signature Fraud Losses

Where Signature Fraud Losses are Occurring

Risk Management

When Your Institution is Breached

Risk Management

Risk Management

PIN/ATM Fraud is Escalating

Source: Fair Isaac CardAlert Fraud Manager

Risk Management

Why PIN/ATM Fraud?

Criminals are targeting DDA Accounts via ATM Skimming


NO ID or embossing necessary, so less risk


More difficult to identify transactions as fraud
-

international


Bank defenses are not as hardened on DDA as on Credit


There are a number channels to target the accounts


Few banks have the ability to tie fraud that crosses channels


Risk Management


Camera Skimming device


Older Skimming Tactics


Camera Skimming device


Risk Management

New Generation Devices

Typical skimming device beside
new device

N
ew

device consists of magnetic
tape reader and battery
-
powered
radio transmitter unit for
transmitting data.

Risk Management

Consumers still choose convenience over security…

…while still expecting security.


61% do not want to be forced to change passwords


57% do not want their accounts locked down after
three failed attempts to log on or provide ID
verification information.


74% want to be transferred to a supervisor for
assistance and access if they can convince the
supervisor of their identity.


88% of those that were open to biometrics cite
convenience as the main factor in moving to
biometrics so they will not have to remember
passwords.

2004 EDS/Ponemon Institute Identity Management Survey

Today Show Scam

Risk Management

Spear Phishing

Risk Management

Spear Phishing

Risk Management

Spear Phishing

Risk Management

Business Exploit

Risk Management

What is Old is New Again

Risk Management




Certain Threats Will
Always Be There


Customer Education
Means Eternal
Vigilance

The New Face of Fraud:

How to Protect Your Bank and Your Customer

Doug Johnson

Vice President and Senior Advisor

Risk Management Policy

American Bankers Association

September 14, 2009

Risk Management