TOPIC: BSA/AML

Yellow Hammer Fraud Detective

Manager at a bank ($273MUSA)
For those using Yellow Hammer Fraud Detective, do you use the ACH Beneficiary Does Not Match CIF rule to identify federal government payments that are not in the name of the account holder?  If you do, have you had issues with customers spending the funds before the item is worked in fraud the following day?  How does the bank handle those overdrafts?  If you do not use this rule, have you had any criticism during exams or audits for not using this tool to identify those transactions?

    BSA/AML and Fraud Conference | ThinkBIG: Fighting Financial Crime (formerly BUG) | April 19 - 22 in Austin

    ThinkBIG: Fighting Financial Crime (Formerly BAM+ User Group)
    April 19 -22 | Austin, TX


    Join Abrigo for the 16th annual ThinkBIG: Fighting Financial Crime Conference for BSA/AML professionals. The BAM User Group Conference, now renamed ThinkBIG: Fighting Financial Crime, has provided industry-leading education and support. Come hear from the industry leaders, law enforcement, and peers as we dive into the latest trends in suspicious activity detection, fraud prevention, and regulatory expectations.
    Network with other BSA/AML and fraud banking professionals and engage with law enforcement representatives, and expand your base of industry knowledge. This is an event you don’t want to miss! Be prepared to Think Bigger with insights and information critical to your BSA/AML and fraud prevention programs.

    Register here