Let’s take a minute to talk about fraud.
In fact, all kinds of fraud: imposter scams, romance scams and investment scams – where losses hit almost $5 billion last year.
Sonal Bullard, head of strategy for the Wealth Management Group at Regions Bank, said, “the reasons for fraud’s continued growth lies in the fact that it’s a continually evolving challenge.”
Criminals have followed us and they’re constantly finding and inventing new ways to try to part us from our money. Sonal Bullard, head of strategy for the Wealth Management Group at Regions Bank
“We’ve all shifted so much of our financial lives online and our social lives, too,” Bullard said. “Criminals have followed us and they’re constantly finding and inventing new ways to try to part us from our money.”
Join Bullard and a team of Regions veterans in our Private Wealth Management Fraud webinar.
The panel includes:
- Diane Greifzu – an experienced compliance officer and private wealth liaison working with the Private Wealth Group in all areas of risk.
- Anna Peterson – Risk manager in the Wealth Management Risk Control Group with a focus on private wealth fraud.
- Matt Powell – Head of financial crimes, which includes enterprise fraud management.
A listen is well worth your time as the group covers red flags to look for and simple steps to help stay safe.
Powell points out that fraud is a topic of concern for all financial institutions. Regions is no exception. Thus, making customers aware of threats is imperative.
“Making sure that we’re having these types of discussions (is) really timely as well as making sure that we have very well-educated customers,” Powell said.
Remember, Peterson pointed out, “It’s obvious that the scammers want money, but they also want that personal information and that helps them to steal more money.”
And, finally, remember that the scammers already have a head start on fraud thanks to data breaches that leave us all exposed to potential fraud attempts. So, if you get an urgent message that doesn’t seem quite right, remain skeptical.
It’s obvious that the scammers want money, but they also want that personal information and that helps them to steal more money. Anna Peterson, Risk manager in the Wealth Management Risk Control Group
“Contact someone, say, ‘Hey, I got this message, is this correct?’” Greifzu said. “Because they have most of our information out there already and they’re going to use it to their benefit.
The information presented is general in nature and should not be considered, legal, accounting or tax advice. Regions reminds its customers that they should be vigilant about fraud and security and that they are responsible for taking action to protect their computer systems. Fraud prevention requires a continuous review of your policies and practices, as the threat evolves daily. There is no guarantee that all fraudulent transactions will be prevented or that related financial losses will not occur. Visit regions.com/STOPFRAUD, or speak with your Banker for further information on how you can help prevent fraud.