Financial services firms, from traditional banks to fintech payment processors to data companies, need to beef up their compliance teams, raise standards and improve education to ensure teams are ready to tackle the latest types of financial fraud, says ACAMS' Rick McDonell.

Though the lower-ticket sales in fast food traditionally weren’t a large fraud magnet, that’s changed as fraud expanded to new channels during the pandemic.

Without additional security measures, hackers can compromise multifactor authentication and wreak havoc on financial institutions and their customers.

Credit card and bank account fraud have soared during the pandemic, with fraudsters intercepting consumer data via retail and banking disruptions and worsening synthetic ID fraud.

Fraudsters are continuing to take advantage of the COVID-19 pandemic to exploit online shopping, curbside delivery and unemployment, according to Visa.

Fraudsters have increasingly targeted financial services, online dating sites and social media since the end of the holiday season.

Fraudsters have increasingly targeted financial services, online dating sites and social media since the end of the holiday season.

A Greek-led organized crime group that stole more than $14.4 million from U.S. banks has been dismantled in a cross-border operation by three international law enforcement agencies.

Come away better prepared for what’s ahead after hearing Satish Kini and David Sewell of Debevoise & Plimpton and Darin Jarrett, Deputy BSA/AML Officer at American Express, in conversation with Bonnie McGeer, Executive Editor of American Banker, as they explore: •How the new administration might change the BSA/AML Act •Are there easy wins in relieving the burden of suspicious activity reports without undermining effectiveness? •New ways that companies are innovating within AML compliance and risk •What banks are doing to drive next-gen efficiency and effectiveness of risk and compliance

Compliance is expensive and complicated, though there are some emerging solutions, says Adflex CEO Pat Bermingham.