BSA Corner

The weather forecast here in the DMV (District, Maryland and Virginia) area is calling for a scorching Summer. My hot weather here may also match the rising “hot” number of security and fraud issues each of your banks  continues to face - check fraud, loan fraud, identity theft, bank robberies/embezzlements, etc. Take it from someone who was “in the foxhole” like many of you, being proactive rather than being reactive is a much better course of action. When you see/hear/read about security training, take advantage of the opportunities.    New FBI data stated that scammers took $3.4 billion from senior citizens (hey, that’s me!) in 2023. At the top of the list was check fraud scams followed by romance scams and get rich quick scams. I hope for my sake and my fellow seniors that you make elder abuse a top priority at your bank.  Did you all hear that filming  of “Ocean‘s Fourteen” has begun? (Fact Checked - False). What did happen on March 31 (Easter Sunday) was that a Garda Money Storage facility in Los Angeles was robbed of $30 million. No arrests have been made yet. Both George Clooney and Brad Pitt have declined comment.    Tens of millions stolen from money storage facility in one of the largest cash heists in Southern California The Summer months are a great time for you to take a little vacation  to relax and recharge. You may also see an uptick of criminals who will be trying to “finance” their vacations. Make sure all your staff keeps their “eyes and ears” wide open as “branch fraud tours” start and follow your bank’s policies regarding check holds, acceptable identification , cash back limits at drive up windows, etc. A recent article detailed how a check fraud gang in Nebraska is recruiting homeless people to carry out their scam.      Deputies uncover fraudulent check scam exploiting homeless people in eastern Nebraska Have a great Summer! Don’t forget to use sunscreen.   Greg