Alternative Payment Methods: The Good, The Bad and The Ugly

Duration: 60 Minutes
Fraud grows with commerce and electronic fraud grows with electronic commerce. With the accessibility of "easy to use" tools increasingly available to help facilitate cybercrime, comes the proliferation of "payments laundering." Take a unique look at the threats from the "payment hustler's" point of view. Cybercriminals are looking for inattentive compliance departments and will take advantage of vulnerabilities in your processes. This session will serve as a cautionary tale. We will review the current tactics being deployed by criminals and demonstrate case studies of transaction laundering and payments laundering. See payments laundering from the criminal perspective.
Alternative Payment Methods
Instructor: Jane Hennessy
Product ID: 503453
Objectives of the Presentation
  • Learn what alternative payment methods are being targeted by fraudsters
  • Learn how fraudsters exploit alternative payment methods
  • Learn some best practices for opening new business accounts to prevent fraud
  • Learn best practices in the underwriting process
  • Learn best practices in the ongoing monitoring process
  • Learn how to protect your brand from misuse by fraudsters
Why Should you Attend
Learn about how fraudsters use alternative payment methods to launder money. Find out if you may be a victim of illicit use of your brand and payment system.

Areas Covered
  • Who is the "payments hustler"?
  • How does he/she work?
  • Some real life examples
  • How have regulators/legislators gotten involved?
  • What can you do about it?
  • Additional resources
Who will Benefit
  • Fraud and compliance officer
  • Financial crimes
  • Financial intelligence unit
  • Payments professionals
$200
Recorded Session for one participant
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Live Session - How it works
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  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Jane Hennessy worked at Wells Fargo for nearly 22 years where she was an Executive Vice President, International Group, until May 2012. She was the head of strategy and information management, marketing, cross-sell, and International Personal Banking. She also managed product management/ product development, alliances, and three significant bank mergers for the International Group. Prior to joining the International Group, she was a group personnel manager in Wholesale Banking.

Jane is a member of the Board of Directors of Oak Financial Software Corp. which is a start-up focused on financial services for the Latino segment. She is a member of the Traxpay Corporate Banking Advisory Board and a consultant specializing in international banking and payments.

Jane has an M.S. in psychology and a B.S. in mathematics from Michigan State University, and an M.B.A. from Santa Clara University in California. Jane is the past Chair of the Global Payments Forum, and Founding Co-Chair of the International Payments Framework LLC. Jane served on the West Coast Advisory Board for the Institute of International Education.
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