Fraudsters have long used the ACH network to facilitate fraud; the Pandemic ensured there was no shortage of imagination or potential victims for their scams. In this interactive, fast-paced session, we will expose some of the most common forms of fraud using the ACH network, from red flags and action items of account phishing to preparing for the 2022 tax refund fraud season. We’ll also examine the most common internal issues related to properly identifying, managing, and reporting ACH fraud.
In this course attendees will:
• Examine the most common forms of fraud using the ACH network
• Expose red flags associated with ACH fraud
• Document mitigation and sound risk management practices
• Compile tips to enhance internal education necessary to balance ACH Rules and legal requirements to control money laundering
Rayleen M. Pirnie, AAP, CERP is the Director of Risk & Fraud at NEACH overseeing the organization’s comprehensive risk management program, advancing strategy to support both industry and member efforts to identify and mitigate fraud. With more than 20 years of experience, Rayleen is a leading expert in payments rules, compliance, risk management, fraud prevention, and security. Through leadership roles and years of research and dedication, Rayleen has developed a deep knowledge and unique skillset that allows her to deliver actionable solutions to not only financial institutions and financial service providers, but across other industry verticals as well. Rayleen is an Accredited ACH Professional (AAP) and a Certified Enterprise Risk Professional (CERP). She is a member of the Association of Certified Fraud Examiners (ACFE) and holds a Bachelor of Science in Criminal Justice Administration. She is an author and highly sought-after speaker.
Nancy Lake has over 16 years of experience in the BSA/AML world and was CAMS certified in 2008. Nancy received her CAMS-Audit certification in 2013 and her CAMS-FCI certification in 2015. She has conducted bank wide BSA/AML training, including Board of Director training. Along with conducting monthly online training, Nancy speaks at numerous conferences through the year in the U.S., and even overseas. For six years, she was an instructor at the PA Bankers School of Banking, and for 7 ½ years Nancy served as Director of Compliance Anchor, the training and consulting division of Atlantic Community Bankers Bank. Nancy has utilized her BSA experience as an educator to assistance to financial institutions in the areas of training, risk management, and the development of sound internal programs and best practices for the past 16 years. She has previously served as BSA Officer in multiple community banks where she successfully created and implemented the entire BSA program, including one bank with numerous international MSBs. Nancy has experience working with and implementing several automated BSA/AML transaction monitoring systems. In September 2020, Nancy joined ARC Risk and Compliance as their Director of Training.
Recorded on June 30, 2021 2:00 PM – 3:30 PM EST