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Fraud Risk Management Strategies for Bank Card Markets
18 January 2011
Fraud Risk Management Strategies for Bank Card Markets

Overview

 

This workshop covers six areas which are key to understanding issues that mitigate a bank’s exposure to fraud in an environment and format that facilitates interaction with fellow delegates on each of the issues so they can learn from their challenges and experiences as well as the workshop material.    

 

 

 

About Your Workshop Leader:

 

Malcolm spent 20 years at Nationwide Building Society in the UK with 15 years within the Special Investigations Department, managing strategy and operations in a number of areas including Corporate Projects, Employee Fraud and as the Society's representative on the key banking industry fraud strategy forums run by UK Payments such as the Fraud Control Steering Group, the Plastic Fraud Prevention Forum and as Chairman of the Remote Banking Fraud Management Group. In June 2009, he joined the National Fraud Authority as the Head of Fraud Risk where he delivered the first National Fraud Dashboard for the UK which defines the key fraud threats across the public and private sectors and he has subsequently contributed to the first comprehensive Identity Crime Threat Assessment delivered in the UK. Global Fraud Solutions is a new venture which is initially delivering bespoke fraud control solutions on the issues of Fraud Risk Management Strategy, Insider Fraud, Card Fraud and Identity Fraud for Financial Services Institutions across the European Region.

 

Workshop agenda

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8:30

Registration & Coffee

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9:00

Introductions, Agenda and Workshop Objectives

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9:20

Managing your Customer Risk - KYC (Know Your Customer) fraud control issues

  • Managing your Customer Risk - KYC fraud control issues
  • What is 'know your customer' in the fraud control context?
  • Who are your customers and how do you treat them in terms of products, services and risk profile?
  • Fraud control policies by distribution channel
  • Mitigating the risk of fraud vs. bad debt 

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9:50

Mitigating the Internal Fraud Risk - KYE (Know Your Employee) fraud control issues

  • Mitigating the Internal Fraud Risk - KYE fraud control issues.
  • What is 'know your customer' in the fraud control context?
  • Importance of staff vetting for new and existing staff
  • Audit trails and mandating 
  • Alternative approaches to minimising staff fraud
  • The importance of whistle blowing and drawing up an approach 

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10:20

Creating a Fraud Control Culture

  • Identifying existing cultural issues relating to risk
  • Drawing up the principles of a positive change in behavior
  • Obtaining buy-in at every level of the organisation
  • Practical steps to achieving a proactive culture  

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10:50

Morning Coffee

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11:10

Developing a Fraud Risk Management Strategy

  • Who is responsible and accountable? 
  • How should this be developed?
  • What a typical fraud strategy should look like?
  • Structure, format and governance

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11:40

Alternative Fraud Detection Solutions

  • The business case for implementing detection solutions
  • Use of alternative models and their advantages and pitfalls
  • Measurement of ongoing benefits
  • The importance of project management skill sets

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12:10

Fraud Policy and Contingency Planning

  • Defining a "fraud"
  • Documenting your fraud policies 
  • Agreeing an investigations policy
  • Measurement of Risk - prevention, exposure, loss and risk appetite

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12:40

Review and Summary

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13:00

Close of Workshop

VENUE

Sheraton Stockholm Hotel and Towers

Tegelbacken 6, PO Box 195, Stockholm, Sweden

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Sheraton Stockholm Hotel and Towers

Tegelbacken 6
PO Box 195
Stockholm SE-101 23
Sweden

Sheraton Stockholm Hotel and Towers

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WHAT IS CPD?

CPD stands for Continuing Professional Development’. It is essentially a philosophy, which maintains that in order to be effective, learning should be organised and structured. The most common definition is:

‘A commitment to structured skills and knowledge enhancement for Personal or Professional competence’

CPD is a common requirement of individual membership with professional bodies and Institutes. Increasingly, employers also expect their staff to undertake regular CPD activities.

Undertaken over a period of time, CPD ensures that educational qualifications do not become obsolete, and allows for best practice and professional standards to be upheld.

CPD can be undertaken through a variety of learning activities including instructor led training courses, seminars and conferences, e:learning modules or structured reading.

CPD AND PROFESSIONAL INSTITUTES

There are approximately 470 institutes in the UK across all industry sectors, with a collective membership of circa 4 million professionals, and they all expect their members to undertake CPD.

For some institutes undertaking CPD is mandatory e.g. accountancy and law, and linked to a licence to practice, for others it’s obligatory. By ensuring that their members undertake CPD, the professional bodies seek to ensure that professional standards, legislative awareness and ethical practices are maintained.

CPD Schemes often run over the period of a year and the institutes generally provide online tools for their members to record and reflect on their CPD activities.

TYPICAL CPD SCHEMES AND RECORDING OF CPD (CPD points and hours)

Professional bodies and Institutes CPD schemes are either structured as ‘Input’ or ‘Output’ based.

‘Input’ based schemes list a precise number of CPD hours that individuals must achieve within a given time period. These schemes can also use different ‘currencies’ such as points, merits, units or credits, where an individual must accumulate the number required. These currencies are usually based on time i.e. 1 CPD point = 1 hour of learning.

‘Output’ based schemes are learner centred. They require individuals to set learning goals that align to professional competencies, or personal development objectives. These schemes also list different ways to achieve the learning goals e.g. training courses, seminars or e:learning, which enables an individual to complete their CPD through their preferred mode of learning.

The majority of Input and Output based schemes actively encourage individuals to seek appropriate CPD activities independently.

As a formal provider of CPD certified activities, SAE Media Group can provide an indication of the learning benefit gained and the typical completion. However, it is ultimately the responsibility of the delegate to evaluate their learning, and record it correctly in line with their professional body’s or employers requirements.

GLOBAL CPD

Increasingly, international and emerging markets are ‘professionalising’ their workforces and looking to the UK to benchmark educational standards. The undertaking of CPD is now increasingly expected of any individual employed within today’s global marketplace.

CPD Certificates

We can provide a certificate for all our accredited events. To request a CPD certificate for a conference , workshop, master classes you have attended please email events@saemediagroup.com

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