Alternative Payment Methods: The Good, The Bad and The Ugly

• OVERVIEW

Fraud grows with commerce and electronic fraud grows with electronic commerce. With the accessibility of "easy to use" tools increasingly available to help facilitate cybercrime, comes the proliferation of "payments laundering." Take a unique look at the threats from the "payment hustler's" point of view. Cybercriminals are looking for inattentive compliance departments and will take advantage of vulnerabilities in your processes. This session will serve as a cautionary tale. We will review the current tactics being deployed by criminals and demonstrate case studies of transaction laundering and payments laundering. See payments laundering from the criminal perspective.

• LEARNING OBJECTIVES
• Learn what alternative payment methods are being targeted by fraudsters
• Learn how fraudsters exploit alternative payment methods
• Learn some best practices for opening new business accounts to prevent fraud
• Learn best practices in the underwriting process
• Learn best practices in the ongoing monitoring process
• Learn how to protect your brand from misuse by fraudsters

• WHY SHOULD YOU ATTEND

Learn about how fraudsters use alternative payment methods to launder money. Find out if you may be a victim of illicit use of your brand and payment system.

• AREAS COVERED

• Who is the "payments hustler"?
• How does he/she work?
• Some real life examples
• How have regulators/legislators gotten involved?
• What can you do about it?
• Additional resources

• WHO WILL BENEFIT?
• Fraud and compliance officer
• Financial crimes
• Financial intelligence unit
• Payments professionals