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Your Michigan Bankers Association has gathered many resources for you to utilize regarding fraud prevention at your bank. Please check out the resources below!

Articles

• The Perfect Gel to Foil Fraudsters from MBA Service Corporation Endorsed Partner ODP.   
• Fraud Losses Among Older Adults Have Increased
• New Tools for Arresting the Rising Tide of Check Fraud Podcast
• 10 Tips For Protecting your Institution and Customers from Check Fraud from MBA Service Corporation Endorsed Partner Vericast.
• Celebrate Cyber Month from MBA Service Corporation Endorsed Partner SBS Cybersecurity.
  • Week 1: Enable Multi-Factor Authentication
  • Week 2: Strong Passwords
  • Week 3: Update Your Software
  • Week 4: Recognize and Report Phishing
• Learn about Get Smart About Credit Month and sign your bank up today! 
• FDIC Consumer News for October 2023.
• FTC: Social Media Largest Source of Fraud Losses
  
• September/October issue of mbaBanking. All about Cybersecurity and Compliance. 
• DIFS Reminds Consumers to Watch Out for Financial Services, Insurance Fraud Schemes During International Fraud Awareness Week.
• Access the Stop Ransomware Guide - CISA released version 3 of the Stop Ransomware Guide. The new version includes updates to prevention tips such as hardening SMB protocols, revised response steps, and added threat-hunting insights. Download the guide . 
• Check Fraud, a presentation from the FDIC. 

Events

• Check Fraud and Physical Security Workshop – December 12
  Highlights include:
  • Understanding the Role of “Deter, Detect, Delay, and Defend” in Your Bank Strategies
  • Insight into the Criminal Mind and How They View Your Crime Prevention Efforts
  • Hot Off the Press Check Fraud Schemes Targeting Banks
  • Techniques and Terminology to Dissect Fraud Schemes
  • Recruiting Co-Conspirators – From Your Customers to Your Employees
  • Use of Telegram, Cash App, Zelle and Deposit Policy Loopholes
  • Distinguishing Customer Accounts: Collusive or Victim?
  • Tips to Recover Your Stolen Funds – Following the Money
    
    
• ElderSafe Money Management Webinar Series: The ElderSAFE™ Center is hosted a Money Management Webinar Series that focuses on preventing elder financial exploitation. The program defined elder financial abuse and exploitation and discuss cyber frauds, online dating frauds, technical support frauds, investment frauds, and mortgage closing frauds.
  • Access the slide presentation.
  •  
• Graduate School of Banking - Technology Security School - Online bank fraud has been described as epidemic, with numbers that are staggering — it’s estimated that U.S. banks lose $1.5 billion to phishing attacks annually. Consider also that mobile devices are now ubiquitous and hackers are getting ever-more sophisticated in their ability to gain access to sensitive data and it’s clear that there is a need for proactive IT security offense and defense to stop attacks including phishing, malware, coordinated denial of service attacks, hacktivist breeches and more. The threats to the banking sector are multiple and significant — both financially and reputationally. Today’s bank customer is rightfully concerned about online banking fraud and studies show that the majority of customers would change banks if they became a victim of fraud at their current institution. Security breeches not only cost significant dollars, but they also destroy erode consumer trust. Being proactive is key. Learn more.
  
  
• SBS Institute is a leading provider of cybersecurity education in the financial industry. We are uniquely dedicated to delivering quality, industry-specific education to financial institutions to empower clients to take security into their own hands. Offerings include:
  • Certifications
  • Free downloads
  • Blog posts, articles, and short videos
  • Webinars
  • Employee or customer training 
    

#BanksNeveraskThatCampaign

Products

Compliance Alliance has Fraud Resources For Your Bank 
MBA-owned company Compliance Alliance has many resources for your bank regarding fraud and many others. Check out these complimentary webinars: 

A Closer Look Into Altered Checks - 10/2023
How to Deal with Fraudulent Checks - 5/2023

For more information, please contact Jill Verscheure, SVP, MBA Service Corporation to learn more and access more tools.

SBS CyberSecurity, LLC 
SBS CyberSecurity is a premier information security products and services company that focuses exclusively on promoting good security practices for community banks. SBS can assist your bank with designing and maintaining your information security program, or test your program with an information security audit, penetration test, social engineering and other assessments.

Contact: Cole Schlumbohm
Phone: (605)-923-8722 x110
Email: cole.schlumbohm@sbscyber.com