Understanding Alternative Payment Methods and Associated Risks

Presented by

Moderator: Bene’t Garcia | Speakers: Jane Hennessy and Dennis Lormel

About this talk

Criminals throughout the world are constantly discovering and utilizing unsuspecting alternative payment methods to perpetrate their crimes. The accessibility of easy-to-use tools are increasingly available, which unfortunately help to facilitate cybercrime and the proliferation of payments laundering. We will take a unique look at the threats posed by these new cybercriminals from the "payment hustler’s" point of view. From peer-to-peer payments, eWallets, mobile payments to prepaid cards — it is imperative that financial institutions remain proactive in efforts to combat fraud and alternative payment laundering. During this informative webinar, current tactics used by criminals, as well as case studies of transaction and payments laundering will be discussed. Learning Objectives •Review recent case studies of transaction and payments laundering for lessons-learned and practical approaches •Understand how criminals set up new payment methods (“Payments Hustling”) to perpetrate their crimes •Gain insight on how to improve current due diligence processes to effectively and efficiently detect fraudulent activity

Related topics:

More from this channel

Upcoming talks (0)
On-demand talks (82)
Subscribers (77537)
ACAMS web seminars provide a convenient method to meet training requirements and stay on top of AML trends, sanctions updates and regulatory changes, plus ask questions of industry experts.