Fraud “Hot Topics” – 2025

Date Recorded: July 8, 2025

Presenter: Mark Dever, CAMS, AAP, Director, Forvis Mazars

In the 2024 National Illicit Finance Strategy, Treasury reported that “fraud is now the largest revenue-generating crime”, surpassing drug trafficking for the first time. The Federal Trade Commission (FTC) reported that consumers filed 6.5 million reports with the “Consumer Sentinel Network” in 2024, 40% of which reported some kind fraud, 38% of which reported losses of $ 12.5 billion, regrettably a new record.  In 2024, “almost” 9% of SARs filed listed “check fraud” as the most often reported crime, for the third year in a row. Interpol and the international law enforcement community are focused on authorized payment push (APP) fraud, and NACHA’s new ACH Rules are focused on reducing and recovering from “credit-push fraud”. This two-hour webinar will review the various types of fraud attacks our clients are facing and discuss ways in which we can assist them from becoming victims of such.

Here’s What You Will Learn:

• Discuss the 2024 data from Sentinel
• Review the latest FTC guidance on “impersonation” fraud and the top companies most frequently impersonated by “scammers”
• Highlight “APP” / “Credit Push” fraud and NACHA’s response to such
• Examine FinCEN’s latest focus on: Fraud schemes abusing FinCEN’s name and insignia; Deepfake media created with generative artificial intelligence (GenAI) tools; Timeshare Fraud; Counterfeit U.S. Passport Cards; Mail-Theft Related Check Fraud; “Vulnerable” Adult Exploitation; Employee Retention Credit (EFC) Fraud; and the ever-increasing ransomware attacks
• Discuss FTC “tools” to assist harmed consumer clients
• Allow time for questions from participants

This Webinar will also:

• Complement existing internal education sessions to help meet the annual BSA training requirements for compliance and audit personnel
• Allow time for questions from participants

Recent well-publicized enforcement actions, fines, and deferred prosecution agreements continue to support a climate proving that BSA compliance remains of paramount importance to all financial institutions. This two-hour webinar from ProBank Education Services will not only provide the compliance and internal audit staffs with a current update on compliance with the BSA-SAR reporting requirements when fraud is detected/suspected, but it will also discuss other regulatory and legal issues related to BSA and SAR reporting.