Episode 6: Fraud Opportunists, Six Feet Away and Closer than Ever

By: Samir Agarwal - https://www.wolterskluwer.com/en/experts/samir-agarwaland Special Guest - Gary Schweer - https://www.linkedin.com/in/gary-schweers-4a52757aBanking Compliance Insights is a podcast series created to deliver insights on compliance trends and provide strategies for navigating today’s regulatory and risk environments. Our new podcast, “Fraud Opportunists, Six Feet Away and Closer Than Ever,” focuses on how social distancing and branch closures are driving more financial institutions to partner with fintechs to increase profits by conducting transactions digitally. The downside is that this fast-paced, digital environment has created a breeding ground for fraud opportunists. Wolters Kluwer® Vice President, Banking Compliance Solutions Samir Agarwal and Gary Schweers, a Consulting Manager with the Wolters Kluwer Advisory team, discuss trends that are creating opportunities for fraudsters (including a few driven by the pandemic), regulatory oversight measures, and strategies for shoring up fraud prevention programs. Plus, they’ll share details about industry-emerging areas that are typically vulnerable to fraud in pandemic conditions, as well as practical suggestions to help financial institutions remain vigilant.Podcast Product Spotlights Anti-Money Laundering PC Office WorkersOneSumX® for Anti-Money Laundering https://www.wolterskluwer.com/en/solutions/onesumx-financial-crime-control/onesumx-for-anti-money-launderingPaycheck Protection Program supported by TSoftPlus - https://www.wolterskluwer.com/en/solutions/tsoftplus/sba-tsoftplusAdvisory Services: CMS reviews, BSA reviews, Risk assessments, and Fintech partner reviews. https://productioncm.wolterskluwer.com/en/solutions/advisory-servicesWant customized compliance strategies? Sign up for a custom demo by clicking https://www.wolterskluwer.com/en/about-us/organization/governance-risk-and-complianceListen to more Banking Compliance Insights by Wolters Kluwer here https://bit.ly/2G8FlsoFor more information and additional guidance, please visit www.WoltersKluwer.com or call 1-800-397-2341. Please join us for future podcasts focused on navigating emerging trends in regulatory compliance.DISCLAIMER: The information and views outlined in this Wolters Kluwer Financial Services’ communication are general in nature and are not intended as legal or professional advice. Although based on the law and information available as of the date of publication, general assumptions have been made by Wolters Kluwer Financial Services that may not take into account potentially important considerations to specific businesses. Therefore, the views and information presented in Wolters Kluwer Financial Services’ communication may not be appropriate for you. Readers must also independently analyze and consider the consequences of subsequent developments and/or other events. Readers must always make their determinations in light of their specific circumstances.