Presentation on theme: "Fraud Trends and Organized White Collar Crime Presentation by Jeff Wahl, CFE."— Presentation transcript:
Fraud Trends and Organized White Collar Crime Presentation by Jeff Wahl, CFE
Introduction Jeff Wahl, Vice President, Division Manager for U.S. Bank Corporate Security Operations –19 years of banking experience –13 years investigating financial crime at the corporate level –Certified in fraud examination (CFE) –Current responsibilities include managing investigations staff and physical security for the Pacific Division within U.S. Bank Corporate Security (11 states and over 1,600 branches)
Format Ask questions What do you want me to cover?
Fraud Trends Scams are evolving Fraud is becoming more organized Technology is changing fraud –Better ways to detect –Better ways to steal
Fraud Trends and White Collar Crime Advance Fee Scam Evolution Cash Advance Skimming Account Takeover Felony Lane Gang New Account Fraud Financial Exploitation of a Vulnerable Adult
Skimming Use captured data with counterfeit plastic Many victims do not know how card was compromised Devices only used for a few hours Drive up ATMs are targeted Data can be transmitted wirelessly
Skimming Installed over the card reader Card passes through skimmer first