2017 CEFLI - Antifraud: Account Takeovers & Suspicious Activity Report (SAR) Filing Practices

October 30, 2017

Presenter Information

Host: Kelly Ireland

Daniel Lyons
Supervisory Special Agent
Complex Financial Crime Program Coordinator
Federal Bureau of Investigation

John Albanese
VP, Corporate Security and Investigations 
Voya Financial 

Tony Dowling
Assistant Vice President and Associate General Counsel
Jackson National Life Insurance Company

This interactive 90 minute webinar provided insight into the rising issue of fraudulent account takeovers in the insurance sector and recent trends in SARS filing practices.  Participants also learned how some of their life insurance company peers are implementing internal controls for account takeover response and mitigation.

Member and non-member life insurance company professionals in the compliance, ethics, legal, risk management, government relations and related business areas are impacted by this compliance-related issue.

Topics discussed included:

  • Account Takeover methods and schemes.
  • Recognizing “Money Mules” and other fraudsters.
  • The need for immediate response to fraudulent disbursements.
  • Important intelligence gathering and information-sharing efforts.
  • Privacy considerations for reporting.
  • Benchmarking of SARS filing practices for Account Takeover activity in the insurance sector.

 


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