Presented by
Colin Parsons; Debby Montgomery Johnson
Surviving a $1M Romance Scam: A Personal Perspective for Financial Institutions
About this talk
Romance scams are among the fastest growing frauds. In 2023, estimated losses of $3.8 billion were linked to romance and other confidence schemes. For survivors like Debby Montgomery Johnson, no statistics can capture the mental anguish and emotional consequences these scams inflict.
After losing $1 million to a romance scammer, Debby found a new sense of purpose as an industry advocate, dedicating herself to raising awareness about the pervasiveness and risk of romance scams. In this session, Debby and Colin Parsons, Head of Fraud Product Strategy at Verafin, discuss the scope, scale and impacts of this grievous crime, and why financial institutions and technology are crucial in helping uncover potential exploitation at the earliest opportunity.
Related:
Register for our follow-up to this webinar, a live Q&A session with Debby and Colin, on May 15 at 12:30 PM EST
https://bit.ly/3WbnwxA
or visit verafin.com/events for more details.
Nasdaq Verafin Financial Crime Management
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Industry and Technology Insights for Banks and Credit Unions
Nasdaq Verafin is the industry leader in enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. 3500 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations.
Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today.
Verafin is the exclusive provider for Texas Bankers Association, Western Bankers Association, and CUNA Strategic Services, with industry endorsements in 48 U.S. states.