Customer Fraud: Investigate Unemployment & EIDL Fraud
In response to the Covid-19 pandemic, financial institutions have been asked to absorb multiple governmental loan programs and benefit schemes with little time to implement safe guards against customer fraud. Bank compliance officers as well as customer facing roles must be on guard for red flags and know how to investigate and report customer misconduct when appropriate. In this webinar, Mitchell Williams attorneys Allison Raley and Chris McNulty will review the latest trends in customer fraud such as unemployment abuse, economic injury disaster loan (EIDL) fraud and anti-money laundering violations. They will provide information on what institutions should do when suspected fraud situations arise. Banks will learn: How to recognize typologies that will trigger enhanced due diligence ; What documents to request if fraudulent activity is suspected; How to conduct an investigation, and Reporting protocols when customer fraud is discovered
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