Western Independent Banker - September/October 2008 - (Page 21)

By Saskia Rietbroek, CAMS There is a growing need for financial institutions to have enterprise-wide clarity when it comes to the management of fraud and other financial crimes such as money laundering. Often, we see that point solutions for various elements of fraud monitoring and management are already in place for specific types of fraud, such as debit card fraud and check fraud. But with a growing number of channels for customer intake The Western Independent Bankers Self-Insurance and interaction, including via telephone Group (WIBSIG) is a smarter solution to workers’ and Internet, fraudsters are taking advancompensation. Designed specifically for WIB tage of the situation by “channel-surfing.” member California banks, it meets the unique This cross channel fraud exploits the vulchallenges faced by today’s bankers. nerabilities of traditional tactical point-solutions and is likely to be one of the greatest WIBSIG offers more than typical coverage: it’s “hot” fraud areas in the coming years. a strategic blend of cost savings initiatives, claims To mitigate these risks, financial instimanagement and safety programs that give its tutions are moving away from tactical members more control over their comp. point solutions and looking for vendors with a holistic approach to enterprise risk CRM. Workers’ compensation that works for you. management. With one integrated case management and red flag management system, some solutions provide a central repository for both fraud and money laundering alerts, with a 360° holistic customer www.trustcrm.com view that can be used seamlessly across For more information, contact: Compensation Risk Managers of California, LLC channels and departments. 2600 Michelson Drive, Suite 1620, Irvine, CA 92612 • Toll Free: 877-276-4747 With the groundbreaking ID theft rule, financial institutions must take every posAuto Dealers • Bankers • Contractors • Healthcare • Vintners sible step to protect and assist customers who become victims. On top of that, the bad guys continue to find new ways to commit ID theft. Without the proper tech373441_Compensation.indd 1 4/28/08 12:30:35 PM nology, all this becomes a very challenging task. Only with advanced detection analytics and an enterprise-wide view of financial crime, firms can have instant business risk insight and achieve operational efficiencies in a turbulent market. Bank your comp. Saskia Rietbroek is financial crime advisor for Fiserv NetEconomy, a firm specializing in real-time enterprise risk monitoring solutions. She is based in Miami and can be reached at srietbroek@neteconomy.com. Western Independent Banker September/October 2008 359575_Nationwide.indd 1 1/16/08 8:40:45 PM 21 http://www.trustcrm.com http://www.nationwidecompliance.com

Table of Contents Feed for the Digital Edition of Western Independent Banker - September/October 2008

Western Independent Banker - September/October 2008 Contents A Message from the President & CEO What To Do When Good Employees Go Bad! Remote Deposit Capture: What’s Your Target Market? Remote Deposit Capture: Lessons Learned Debit Decoupling: Part of Larger Merchant Funding Trend Debit at the Speed of Life: A Look at Debit Technologies on the Rise ID Theft Rule: Automating the Compliance Process Lose Paper and Gain Audit Trails Data Loss Prevention: A New Package on an Old Idea Securing Data in Transit Margin Management: Get in the Driver’s Seat Shopping for Cyber Insurance WIB Service Corporation Report WIB Calendar Welcome New Members Index to Advertisers advertiser.com

Western Independent Banker - September/October 2008

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