Investigate, Not Administer, Fraud with an AI Approach
Date: Wednesday, July 14th, 2021
Time: 2:00 p.m. ET |11 a.m. PT
FinCEN is reporting a steady increase of SAR (suspicious activity report) filings over the years – 2.5 million SAR filings alone in 2020. The average alert-to-SAR ratio of legacy FRAML (fraud and anti-money laundering) rule-based system is 18 percent, which means that over 13 million alerts have been generated, an average of 35,616 alerts per day.
As fraud and money laundering schemes get increasingly complex, your CU needs to stay ahead. A legacy FRAML simply cannot keep up. It’s time for your credit union to automate its fincrime platform to spend time investigating fraud instead of administrating it.
Join this complementary webcast to learn:
- The advantages of AI-first approach for uncovering fraud in real time
- How Unsupervised Machine Learning can reduce gaps and speed up fraud prevention
- How a proactive FRAML approach will save time and money allowing you to increase member benefits
REGISTER NOW! (Not able to attend? We recommend you STILL REGISTER – you will receive an email with how to access the recording of the event)
Eric Tran-Le | Vice President, Head of Actimize Premier | NICE Actimize
Eric Tran-Le is Vice President, Head of Actimize Premier, NICE Actimize. Eric has held several leadership positions in product management and marketing at companies including Oracle and Microsoft, where he consistently delivered innovative, best-in-class enterprise solutions in the areas of cloud-based predictive analytics for IT security. Eric is a member of the Federal Reserve’s Fraud Definitions Work Group initiative to advance the Federal Reserve’s strategy for improving the U.S. payment system.
Fred Shuherk | Senior Web Services Manager | Star One Credit Union
Fred Shuherk has been a Banking & Credit Union professional for 39+ years. He has worked for Star One Credit Union since 1996. Currently serving as the Sr. Web Services Manager, he is responsible for the daily operations, development, security, and compliance of the Star One public website, online, voice, and mobile app delivery channels. He previously worked at Coast Commercial Bank in Santa Cruz, CA and Stanford FCU in Palo Alto, CA, both in Information Technology capacities. He attended Ball State University in Muncie, IN and is a 1983 graduate of the US Army School of Personnel, Finance, and Resource Management; Fort Benjamin Harrison Indianapolis, IN. For fun Fred is an Auctioneer/MC who since 2005 has been the host and MC of the California & Nevada Credit Union League annual fundraising PAC Auction.
Mark Stetler | CEO | RegSmart
Mark is currently CEO of RegSmart (BeRegSmart.com) and Of Counsel with the Dallas law firm Russell & Wright PLLC (rwtrial.com) and holds the Certified Anti-Money Laundering Specialist (CAMS) certification (acams.org). Mark graduated from Baylor University in 1985 with a BBA in Finance (cum laude) and from the University of Texas Law School in 1988 (with honors). He practiced law in a private firm and then for the financial services subsidiary of the nation’s largest homebuilder. Mark served as general counsel for a multi-state title agent and a mortgage quality assurance company as well as associate general counsel for a top tier mortgage lender. He was a senior partner in NIA Consulting, the nation’s largest financial fraud auditing firm, and was instrumental in arranging the sale of NIA to Interthinx (a subsidiary of Verisk–NASDAQ: VRSK).