Big problems require big ideas. How about establishing a White House office of fraud and scam prevention? Or closing loopholes so telecoms stop spoof calls and texts? And ensuring social media companies quickly take down impersonation accounts? On this edition of the ABA Fraudcast, we include Paul Benda’s opening statement addressing these challenges and others, as delivered recently to the House Financial Services Subcommittee on Oversight and Investigations. Then for Fraudcast listeners, Benda offers some additional analysis of the urgency of a coordinated response from lawmakers and law enforcement.
Read Benda’s full opening statement and check out video of the entire hearing here.
Also mentioned: Benda will be speaking at the ABA Financial Crimes Enforcement Conference, Oct. 14-16 in Arlington, Virginia. And ABA just this week launched updated Banks Never Ask That and Practice Safe Checks consumer awareness campaigns.
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