Compliance Search has recently published an article written by Edcomm Banker’s Academy’s President and Founder, Dr. Linda Eagle on the subject of Electronic Funds Transfer (EFT) Fraud.
New York, NY, May 14, 2011 — Compliance Search has recently published an article written by Edcomm Banker’s Academy’s President and Founder, Dr. Linda Eagle on the subject of Electronic Funds Transfer (EFT) Fraud. Published on May 9, “Preventing EFT Fraud with Training: Reducing Risk to Financial Institutions and Their Customers” addresses the increasing number of frauds involving money laundering and identity theft in EFTs and the importance of training bank staff on how to the identify risks associated with EFT transactions.
Both personal banking and business customers must be particularly cautious when using their online bank accounts, and must know which steps to take to prevent fraud. Many issues can be avoided by training employees on how to advise customers to complete simple actions to protect themselves against risk. Changing passwords frequently, using encryption, using strong anti-virus protection software, being cautious when opening emails and links and closely reviewing statements are all smart ways for customers to protect their financial resources.
According to Dr. Eagle, financial intuitions offering EFT products and services to their customers must have sound AML policies, procedures and processes in place to manage the risks associated with EFTs. “Without these regulations, the risks of electronic banking can result in financial loss and reputation damage for the financial institution through fraud, disclosure of customer information or corruption of data,” said Dr. Eagle.
For more information about programs like this, or to find out how The Edcomm Group Banker’s Academy can customize any training program, log onto www.bankersacademy.com or call +1.212.631.9400.
Compliance Search specializes in the recruitment and placement of compliance professionals and executes nationwide and global executive retained searches, contingency searches, job postings and consulting services for investment banks, broker-dealers, hedge funds, mutual funds, private banks, insurance companies, investment advisors and the full array of financial services firms.
The Edcomm Group Banker’s Academy is a 24-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. The Edcomm Group 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).
The Edcomm Group Banker’s Academy (www.bankersacademy.com) is headquartered in New York City with locations and representation throughout the world.
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Contact:
Dr. Linda Eagle
Edcomm Banker’s Academy
21 Penn Plaza, Suite 1010
New York, NY 10001, USA
Tel: 212.631.9400
Fax: 212.631.0659
[email protected]
http://www.bankersacademy.com
