Types of Fraud
This involves funds being stolen electronically from an account, either as a lump sum or recurring payments.
What is ACH Fraud?
This allows you to send payments without sending your account information through the mail.
What is Bill Pay?
What is Fraud?
An older customer requests to withdrawal a large sum of cash and is accompanied by a person who is trying to control the situation.
What is Elder Abuse?
This fraud refers to malicious software that holds computers, smartphones, or other devices hostage by restricting access until a ransom is paid.
What is Ransomware?
This is where someone uses a property or someone else's information to obtain a loan.
What is Loan/Mortgage Fraud?
This product allows a business customer to identify legitimate check and ACH transactions to prevent fraudulent transactions.
What is Positive Pay?
This type of fraud is where the scammer sends emails pretending to be from banks, popular merchants and other known entities and will ask for personal information.
What is Phishing?
When a suspicious customer goes to more than one branch to make deposits, cash checks, or open an account.
What is Branch Hopping?
True or False?
The scammer can spend weeks or months setting up the victim before asking for money.
What is True?
A customer is notified they won a prize or large sum of money.
What is Lottery Fraud?
This allows the customer to keep up with their transactions 24/7.
What is Online Banking?
When money is quickly & frequently wired from one account to another, often to a foreign country.
What is Wire Fraud?
A customer makes withdrawals at 3 branches, none of which are their home branch.
What is Avoiding Detection?
True or False?
When a customer opens an account online and only makes electronic deposits, this is considered a red flag. **100 bonus points if you say why
What is True?
The customer is providing limited exposure with bank personnel
Taking advantage of someone's want for a relationship to defraud them.
What is Romance Fraud?
What is Exaggerated?
A customer is contacted by a person claiming to be from the IRS.
What is a Government Impersonator Scam?
If a customer brings in a $10,000 check but typically deposits a $800.00 payroll check this would be a transaction outside of the customers _____ of business.
What is Normal Course?
When cardholders dispute a transaction with the bank instead of contacting the merchant for a refund. Sometimes called friendly fraud.
What is Chargeback Fraud?
This is the most common form of fraud for both businesses and consumers.
If a customer has experienced fraud in the past, you should see _________. Always read them before proceeding with the transaction.
What is Alerts on the Account?
This fraud involves multiple types of scams with the goal of taking all of your assets.
What is Pig Butchering?
What was the reported dollar amount lost due to fraud in 2024?
What is $12.5 Billion?
B.A.S.I.C.S stands for
What is Be there, Ask questions, Seek answers, Investigate, Clarify, and Stop fraud