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Dive into the latest updates on 1071, deepfake fraud, enforcement actions, and more in this month's regulatory briefing.
Watch the full breakdown or read the highlights 👇
https://lnkd.in/gvAX7REa
Elder frauds appear to be more prevalent and the values of frauds are higher.
This speaks to the question, should financial institutions be responsible for the actions of their customers?
What can they do to help prevent elder frauds?
What can society do to help?
https://lnkd.in/gT5Tkbjk
Recognizing signs of scam and fraud is essential to protect yourself and your financial accounts from evolving tactics used by scammers. Check out our blog post!
Recognizing signs of scam and fraud is essential to protect yourself and your financial accounts from evolving tactics used by scammers. Check out our blog post!
Recognizing signs of scam and fraud is essential to protect yourself and your financial accounts from evolving tactics used by scammers. Check out our blog post!
Senior Threat Researcher, author of "Securite et espionnage informatique - connaissance de la menace APT" - ex-Law Enforcement Officer (OPJ) - Does not accept invitations without a message
Honestly, this is all in the hands of the financial institutions.
- You cannot stop the scammers at social networks level (they will keep recreating fake profiles all the time)
- You cannot stop the scammers at infrastructure level (they will keep changing operators and TTP etc.)
- You cannot stop the scammers at the victim level (because, well, the victim doesn't know and is a victim, right)
BUT if financial institutions get involved and talk to the victims and help them before it's too late, there would be a BIG WIN here.
Of course, it is very tricky on so many aspects to have a financial institution tell a citizen to "not do that money transfer" and open the victim's eyes to the fact that he/she is indeed falling for a romance scam. But it would be a solution.
In my mind, financial institutions should be able to seize a Justice entity when such fraud obviously happen, to legally stop it and help the victim to first understand the fraud, but also recover psychologically from it. Because it is all about feelings. If you think with your heart, you do not think rationally, unfortunately. Love is a wonderful thing, but also the worst driver for fraud.
Things need to move, and I'm absolutely delighted to read that financial institutions might become a stronger actor here !
#romancescam#cybercrime
Founder Operation Shamrock | Expert in Scams and Transnational Organized Crime | International Keynote Speaker
American Bankers Association is calling out social media to limit the ability of scammers to access #pigbutchering victims. They also want law enforcement to make some arrests.
Guess who's with them?
Me.
#operationshamrock is in full force in the month of February. I'm talking to anyone and everyone who has thoughts about how to disrupt this massive enemy on the other side of the world. If you have ideas, I am all ears.
Mark your calendar for 3/17.
That's when we move to solutions.
And accountability.
educate.seize.disrupt
and UNITE.
hold each other accountable.
it's good guys v. bad guys, and on 3/17 we pick teams.
With the increasing prevalence of financial scams, it is important for banking clients to educate themselves on the most recent fraud schemes to avoid falling victim to fraudsters.
Fraud prevention starts with being vigilant of ads and marketing schemes, if an offer seems too good to be true, it probably is. Always remember to trust your instincts and verify the source before making any financial decisions.
Director of Risk & Compliance at FedChoice Federal Credit Union
4dGood information