OBJECTIVES:
To provide comprehensive and in-depth knowledge on the importance of Fraud Management Systems (FMS) in protecting both business assets and customer trust. It covers discussion on key components, technologies, and best practices essential for detecting, preventing, and mitigating fraud in today’s dynamic environment.
Brief Description:
The rise of digital financial services has been accompanied by a corresponding increase in scams, fraud, and threats targeting these channels. Traditional preventive and detective controls alone are not sufficient to address the dynamic nature of these risks. Therefore, implementing robust fraud management systems is essential in proactively analyzing, detecting, and preventing fraud as it occurs. This session provides key considerations in the implementation of FMS vis-à-vis regulatory requirements and expectations under BSP Circular 1140. It will also cover supplemental guidance on the recently passed Anti-Financial Account Scamming Act (AFASA) under Republic Act 12010, highlighting how these laws and regulations align with the objective of safeguarding both institutions and their customers.
Course Outline:
- Overview of BSP Circular No. 1140 – Adoption of Robust Fraud Management System and Reinforced Consumer Awareness
- Importance of Fraud Management Systems and its role in safeguarding the interest of stakeholders
- Common types of frauds and the risks these pose to institutions and its customers
- Key components and technologies involved in Fraud Management
- Technologies and Features of Fraud Management Systems
- Best practices in implementing and maintaining Fraud Management Systems, and the corresponding challenges
- Challenges in Fraud Management
- Key provisions on fraud management under Republic Act No. 12010 or the Anti-Financial Account Scamming Act
Target Participants:
This webinar is open to all, particularly to the following employees: BOD, Senior Management and Officers, Compliance and Risk Management Professionals, and IT, Security and Business Line Professionals involved in managing fraud in digital channels. Fraud Management Office, Operations Department, AML Department, Chief Compliance Officers (CCO), Chief Information Security Officers (CISO), Financial Consumer Assistance Department and Departments managing Fraud Management System.
Subject Matter Experts:
MARICRIS A. SALUD, CPA, CISA, CISM, MSCF
Deputy Director
Cybersecurity Supervision and Oversight Group
Technology Risk and Innovation Supervision Department
Bangko Sentral ng Pilipinas
DEXTER S. MACATANGAY
CPA, MBA, CISA, CIA, CISM, CC, CISSP
Bank Officer V
Cybersecurity Supervision and Oversight Group
Technology Risk and Innovation Supervision Department
Bangko Sentral ng Pilipinas
Date/Time:
October 22, 2024
Tuesday, 2:00 PM – 4:00 PM
TRAINING FEE PER PARTICIPANT:
From Member Institution – P 2,800.00
From Non-Member Institution – P 3,920.00
**VAT Inclusive