Risky business: How many scammers and money launderers are hiding in your portfolio?

As the CFPB turns a close eye on how financial institutions are handling P2P payment scams and the money mules that enable them, the need for a robust account portfolio audit has never been more critical.Hidden threats that can slip through weak or outdated identity and fraud controls, posing severe risks to financial stability and consumer trust. Fraud and compliance teams must collaborate and leverage analytics solutions which holistically assess their current portfolios for accounts linked to fraud, scams, money laundering and other patterns of abuse.

See what top financial institutions have uncovered in recent portfolio scrubs, and learn how to strengthen your defenses against emerging threats with a comprehensive approach to identity verification, and understand the consequences of turning a blind-eye to the bad actors operating in your ecosystem.

Key takeaways:

• Discover the latest and most pressing threats, such as P2P payment scams, synthetic identities, and money mules, and understand how these sophisticated schemes can infiltrate your portfolio.
• Learn from recent portfolio audits and case studies of leading financial institutions to see how they identified and addressed hidden risks, providing practical examples of effective risk management.
• Gain actionable strategies and best practices for enhancing your risk management framework, including advanced tools and technologies for proactive portfolio screening.

Debra Geister

VP of Compliance & Regulatory Solutions, Socure

Nick Collinger

Director, Solutions Consulting, Socure

Mike Sisk

Contributing Editor, American Banker