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Check Fraud: Protecting Your Bank and Its Customers
(Presented by John Burnett and Jeremy Peterson)
WHAT?
Customers of banks throughout the US and beyond are barraged with scam after scam.   | WEBINAR TIME:
11:30AM - 1:30PM PT
12:30PM - 2:30PM MT
1:30PM - 3:30PM CT
2:30PM - 4:30PM ET |  |
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Many of the scams are obvious, but many are presented in such a way that the would-be victim (your customer) is more easily tricked into believing the claims of the fraud artist.
Each presentment of a fraudulent check presents potential problems for 1) the bank of first deposit, 2) the customer presenting the check, and 3) the paying bank. Knowing how to detect and reject bogus checks can protect both your bank and your customers. Knowing how to handle fraudulent checks that make it "under the radar" can save your bank from significant losses.
WHY?
This program is designed to help your bank recognize the signs of fraudulent check activity. Trained bank personnel can help save gullible customers from themselves by preventing the checks from being deposited. Keeping the customer out of trouble means avoiding problems for your bank, too. Responding appropriately when a fraudulent check is presented for payment or has been charged back to your bank can minimize the losses your bank will suffer.
CONTENT
Upon completion of the program participants will understand:
how Regulation CC helps make counterfeit check fraud "profitable"
how common check fraud scams work
how customer behavior can "red flag" a check scam
physical clues of counterfeit checks
the case for check verification
the arguments against verification
fatal errors in check verification
when a hold can be placed, and for how long
the "reasonable cause" exception hold
why holds often aren't enough
counterfeits and the "midnight deadline"
how to handle late returns
how local clearinghouse rules may affect you
what NOT to tell a depositor about check clearing
what you MUST try to make customers understand
what to do when fraud is suspected
why customer education is your most effective tool
WHO?
The program is designed for teller supervisors and trainers, customer contact personnel, and anyone involved in your fraudulent check stop-loss efforts.
About the Speakers:
John Burnett is a 1979 alumnus of the ABA National Compliance School, and served on its faculty for several years. He graduated with honors with the Class of 1990 from ABA's Stonier Graduate School of Banking. He is also a graduate of the BAI's and the Massachusetts Banker Association's Schools of Banking.
He joined Cape Cod Bank and Trust Company in 1971 and assumed his role as Compliance Officer in 1976. He also served as corporate secretary and secretary of CCBT's Board of Directors, as well as Clerk of the bank's holding company. John joined Glia Group, Inc., and became a part of the BOL Team in June, 2004.
Mr. Burnett is a former member chair of the Massachusetts Bankers Association Legal and Regulatory Compliance Committee, and of the American Bankers Association Compliance Executive Committee and NCS/NGCS Advisory Board. He served on ABA's Truth in Savings Task Force, and has served on several ABA and Massachusetts Bankers seminar panels.
Jeremy Peterson
Jeremy Peterson is an assistant vice president and the security officer for The City National Bank and Trust Company of Lawton, Oklahoma, a $258 million nationally-chartered trust company with over thirty Oklahoma offices. In 2003, he started his bank's fraud department, which now includes five full-time staff members focusing on identifying and preventing losses from check kiting, forgery and other forms of fraud. Jeremy has been a member of the International Association of Financial Crimes Investigators since 2003, and has served as its Oklahoma chapter treasurer since 2004. He is also a member of the Oklahoma Bankers Association's Fraud and Security Council.
Jeremy is an experienced trainer, both at seminars hosted by the IAFCI and at in-house sessions for his bank's tellers designed to familiarize them with check fraud scams to help prevent losses for customers and the bank.
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888-229-8872