Frank Abagnale Fraud Bulletin Vol. 18

The Abagnale Fraud Bulletin, Volume 18, is a superb fraud prevention resource used by the FBI, the Federal Reserve, and hundreds of financial institutions and organizations across the country. The Fraud Bulletin provides businesses with actionable insights to mitigate modern fraud threats. It highlights the “faster fraud” that inevitably accompanies “faster payments.” It explores the explosive risks of cyber crime enacted through avenues such as Business Email Compromise (BEC) scams, Vendor Email Compromise (VEC) scams, ACH fraud, and wire transfer fraud. The Bulletin also includes additional types of fraud such as tech support fraud, cryptocurrency scams, and romance scams.

The new Classifier Models designed by the Federal Reserve help detect and ameliorate fraud attempts. It also outlines the necessity of implementing dual controls, bank-recommended security protocols, and verified communication methods to minimize exposure to fraudulent activities. This publication serves as an essential resource for organizations aiming to safeguard their operations, reputation, and financial stability.