Fraud Management & Cybercrime , Fraud Risk Management

Customer Awareness: What Works in Fraud Detection, Prevention

Customer Awareness: What Works in Fraud Detection, Prevention

Fraud Summit - Chicago 2014 - As part of its 2011 updated authentication guidance, the FFIEC placed a heavy emphasis on security awareness for banking customers. In this case study from the 2014 Chicago Fraud Summit, Bank of the West's David Pollino, a leader in educating commercial and consumer customers about fraud risks and security controls, discusses:

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  • What are the most effective training methods;
  • How frequently they should be administered;
  • How banking institutions can make customers aware, but not fearful.


For years, banking regulators have urged institutions to dedicate more time and resources to educating customers about online security risks and mitigations. And customer awareness was a specific element of the 2011 authentication guidance update from the Federal Financial Institutions Examination Council.

But what are institutions actually doing to address customer awareness? Not nearly enough, according to the results of ISMG's 2014 Faces of Fraud survey.

Asked to gauge the effectiveness of their awareness programs, only 50 percent say their awareness and training programs are very effective. Thirty-eight percent say they are only somewhat effective.

And when asked to assess with letter grades their current awareness programs for employees and customers, 73 percent grade themselves average or below.

Bank of the West long has taken security awareness seriously. And in this exclusive session from the 2014 Chicago Fraud Summit, the bank's David Pollino details the bank's awareness strategy and techniques.

ISMG's Fraud Summits are one-day events focused exclusively on the top fraud trends impacting organizations and the mitigation strategies to overcome those challenges. All 2014 Fraud Summit Chicago recordings:

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