Anti-Fraud CommitteeICT Symposium

“ To play a core role in the growth and stability of the financial sector, through advocacy and representation; and to facilitate the provision of the most competitive banking products and services to our customers, with integrity and transparency”

Monthly meetings to discuss:

Trends

Share Intelligence

What is on the horizon

It affords – Proactivity

To Be A Household Name Reputation- Improve the Image of BATT (Credibility) Representation- Influence Advocacy- Outreach and Lobby Information-sharing and Education- Develop and utilise various

channels for promoting BATT, its role and educating the public on relevant banking issues

What is on the horizon

 

What is Skimming

“The surreptitious act of copying the encoded card information off the magnetic strip of either a credit or debit card with the intent to create a cloned card to facilitate fraudulent transactions on the legitimate account”

(Source - BATT)

Wire Transfer FraudHard Copy Instructions via Letter Heads Information communicated via courier Subsequent calls to support instructions

Evolved

Internet – Cyber Crime Sending instructions via email Intercepting emails with payment arrangements

and redirecting wire to another account, at another bank, in another jurisdiction.

Awareness Campaigns (through collaboration) The Media Various Chambers

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The risk of doing business online Tips on how to reduce the risk of being a victim

Robust Network Infrastructure Both Internal and External Facing Firewalls Intrusion Detection systems Highly Trained IT Units

Guidelines/Procedures – Online Transactions Guidelines/Procedures – Reporting Events to

the Police

Questions