Edcomm Banker's Academy's Dr. Linda Eagle, was recently featured in an ABC News story as an expert on Money Service Business (MSB) fraud prevention and training.
New York, NY, USA, April 23, 2010 (PRESSbooth.ORG) -- The Edcomm Group Banker’s Academy’s President and Founder, Dr. Linda Eagle, was recently featured in an ABC News story as an expert on Money Service Business (MSB) fraud prevention and training. The story aired on February 8 on ABC 7 throughout the San Diego and San Francisco areas and can be viewed worldwide at http://abclocal.go.com.
Dr. Eagle was interviewed by Consumer Reporter Michael Finney for a 7 On Your Side story exploring the actions wire transfer companies are taking to stop scams from occurring in the United States today. With the amount of money appropriated from scams in the US reaching $24 million in 2008, the story uncovered how some lesser-known scams are still going unnoticed at money transfer companies across the country. When an ABC undercover decoy posing as a mystery shopper was not warned about the possibility of being swindled, Dr. Eagle used her 23+ years of expertise in the financial services industry to explain how this activity was an obvious tip off. “It is pretty shocking because that is a very, very well known scam. There are some immediate, immediate red flags for that,” said Eagle. MSBs must be on the lookout for Internal Fraud, Deposit Fraud, Identity Theft, Kiting, Phishing, Fraud Against the Elderly, Internet Fraud, Lottery Scams, Check Cashing Scams, Mystery Shopper Schemes and others.
MSB employees must be trained to spot these red flags that could indicate criminal activity:
A customer provides insufficient and/or suspicious information
A customer presents different identification each time a transaction is conducted
An individual or business customer cashes a large number of third-party checks
An individual or business customer asks to purchase traveler’s checks or money orders in large bulk orders
Changes in a transaction or in patterns of transactions
A customer sends or receives frequent or large volumes of wire transfers to and from offshore accounts
An MSB employee whose lifestyle cannot be supported by his/her salary, which may indicate receipt of tips or bribes
With more than 23 years of experience in the financial services industry, Edcomm Banker’s Academy has provided training and consulting for thousands of Banks, Credit Unions and Money Services Businesses (MSBs) on all types of fraud, helping them to protect themselves, their employees and their customers. Edcomm Banker’s Academy’s fraud prevention training program covers the red flags of fraud, how to report fraud and the fraud prevention tools that financial institutions must have in place.
For more information about Edcomm Banker’s Academy’s Fraud Prevention training programs, log onto www.bankersacademy.com or call +1.212.631.9400.
About Edcomm Banker’s Academy:
Edcomm Banker’s Academy is a 23-year-old multimedia education and communication consulting firm specializing in the development of creative business solutions that improve productivity, customer service and market share - providing bottom-line results. Edcomm Banker’s Academy has had the privilege of assisting many distinguished clients with business solutions in the form of eLearning programs, online bank training and classroom instruction, multimedia production and online and print based documentation. Edcomm Banker's Academy offers many off-the-shelf and customized courses such as Teller Training, Compliance Training and Systems Training specifically designed for Banks, Credit Unions and Money Services Businesses (MSBs).
Edcomm Banker's Academy is headquartered in New York City with locations and representation throughout the world.
www.bankersacademy.com
Contact:
Dr. Linda Eagle
Edcomm Banker’s Academy
21 Penn Plaza Suite 1010
New York, NY 10001, USA
+212.631.9400
Fax: 212.631.0659
linda.eagle @ edcomm.com
http://www.bankersacademy.com
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