What’s up fraud fighters, and welcome back to Fraud Forward!

This one is extra special. We are live at Money 2020, and I am sitting across from Nyla Cortez, my former desk mate from our credit union days. Back then, we co-hosted a podcast called THE TEA, which stood for training, education, and awareness. Our goal was to turn compliance and fraud jargon into real world understanding, and that is exactly what we do again today.

Nyla knows BSA and consumer protection regulations inside and out. I know the fraud side. In this conversation, we talk about what happens when those two worlds stay siloed and what changes when they start talking. We look at an elder financial exploitation case that taught me why a policy exists, play a game of fraud or compliance, and get into Reg E claims, cash activity, and who should own the gray areas. If you have ever wondered how BSA regulation and fraud fit together, this one is for you.

Stay until the end, because Nyla has some news she wanted to share here first. Let’s get into it.

• How a BSA team and a fraud team handled an elder financial exploitation case together, including the adult protective services referral and the unusual activity referral that let fraud act.
• Why siloed BSA and fraud teams create double work, and how better communication between a BSA officer and a fraud team fixes it.
• What bridging the gap between BSA and fraud means in practice, and why friendship is not required.
• How Reg E claims, provisional credit timelines, and the 10 day and 45 day investigation window protect members and institutions.
• Why unauthorized transfer claims need both a compliance clock and a fraud investigation.
• What to do when one device logs into a dozen accounts in an hour.
• Who owns money that comes in and goes straight out with no clear purpose, and why policy has to decide.
• What happened when a member walked in with $30,000 in cash, and how CTR filing fits into the bigger picture.
• Why explaining regulations in plain English helps fraud and compliance teams work together.

• Work in fraud and want to understand why BSA cannot always let you act right away
• Work in BSA or compliance and want better communication with your fraud team
• Are a compliance officer or analyst new to BSA and want regulations explained in plain English
• Work at a credit union or community bank and handle Reg E claims
• Are deciding who owns a gray area like money in and out with no clear purpose