The best way to handle is by stopping it before it spreads. Follow these guidelines to help increase your methods of fraud detection when new customers open accounts with your organization. Multi-Step Authentication Verifying an applicant’s identity early in the application process helps prevent fraudulent activities from increasing. For example, authentication software may verify… Read more »
Posts Categorized: News
The SEC Called Cyber Security the “Biggest Risk” – How Can Your Company Prepare
The biggest risk facing the financial industry is cyber security. The SEC discovered that many major exchanges, clearing houses, and private exchanges and forums lack cyber policies covering the risks that they face, leaving them open to cyberattacks. Although the SEC is doing everything possible to prevent such attacks, the agency cannot handle the problem… Read more »
Nobody Likes a Bad Boss – Avoid Becoming One
Nobody likes having a bad boss who acts more like a dictator than a mentor. Follow these guidelines so your staff members want to follow you. Make Time for Staff Devoting time and resources to your staff members’ professional development are a productive investment. When you show interest in your employees’ futures and help… Read more »
Identify Funnel Accounts with These 12 Red Flags
Funnel accounts created by profits earned from committing crimes are commonly used in money-laundering schemes. Watch for these 12 red flags to help you stop the progression of funnel accounts. 12 Red Flags of Funnel Accounts Accounts with multiple deposits quickly transferred to other accounts. Checks may have different handwriting on the payee and… Read more »
Move Into the Financial Compliance Industry with These Skills
The financial industry is facing much more litigation and red tape from new regulations. Because of this, companies are hiring compliance officers at all levels and paying top dollar for the best candidates. Here are some skills you’ll need to move into the financial compliance industry. Education A degree in finance, management, accounting, economics,… Read more »
Improve These Daily Behaviors to Become a Better Leader
Working on your leadership skills daily will help you advance at work. When you’re in a leadership position, it’s easier to work on your leadership skills, but you don’t have to be in a traditional leadership role to become a leader. Here are three ways to improve your behaviors and get on your supervisor’s… Read more »
Are Local Banks Suffering Because of Dodd-Frank?
Because of the 2008 financial crisis, the government took steps to control how big and small banks function so future bailouts aren’t necessary. Some of those steps, such as passing the Dodd-Frank Act, may have done more harm than good for local banks. Dodd-Frank Act U.S. Representatives Barney Frank (D., Mass.) and Chris Dodd… Read more »
Did You Know Annuities Harbor Money Laundering?
As an insurance and investment professional dealing directly with clients, you’re able to obtain information about their fund sources, reasons for purchasing annuities or other insurance products, and other personal details. This puts you as a first line of defense against money laundering. The Money Laundering Process Money laundering filters illegally gained money through various… Read more »
Ask for Help in Your Next Job Search
Finding a job can be stressful. By asking for some job search help, your experience becomes much easier. Utilize these sources when finding your next position. Personal Relationships Since we’re wired to connect with and help others, utilize personal relationships to help you find your next job. Whether striking up a conversation with the person… Read more »
Create a Great Interview Process to Land Great Employees
A great interview process is essential in hiring quality workers for your company. Follow these guidelines to help you save time and money while hiring top talent. Skills Creating an engaging job description is your first step in the interview process in targeting the right candidates. Creatively use industry-standard language when stating the position’s… Read more »