Payment Fraud Schemes to Know & Defend Against in 2021

presented by
Karen Boyer, VP Fraud Prevention & Detection at People’s United Bank
Steve Stasiukonis, President, Secure Network Technologies

In a 2020 survey conducted by Strategic Treasurer, 53% of responding businesses had experienced payment fraud and 76% felt that the fraud threat level had increased year over year. The situation was scary pre-pandemic and is now exacerbated by criminals looking to prey on the world’s health crisis. How can treasury, accounting and other parts of your business do their part to mitigate vulnerabilities and reduce the risk of fraud loss and reputational damage?

Join People’s United Bank for an informative discussion about fraud threats and prevention steps. Take-aways will include:
• An overview of the current B2B payment fraud landscape
• Identification of the most common fraud schemes—BEC, account takeover, ransomware attacks, phishing and more
• Actionable tips to improve security of your payment processes and broader business practices

Members: No Charge

Non-Members: $35

It is anticipated this session will qualify for 1.2 CTP renewal credits

about the speakers:

Karen Boyer, People's United Bank, NA

Karen Boyer has over 20 years of diverse banking experience with the majority in the realm of Fraud. She is currently Vice President of Financial Crimes and Fraud Intelligence, at People’s United Bank, a regional bank in the Northeast with a network of nearly 400 retail locations in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine. In this capacity, Karen is responsible for running teams of analysts and investigators, developing fraud detection and prevention strategies related to financial channels in and out of the organization, and managing the risk of the evolving real-time payment methods in the financial industry.
Ms. Boyer has held various positions in the fraud umbrella with increasing responsibility and successfully developed key strategies and techniques to substantially reduce loss and protect new product releases. By her peers and organization, she is considered an expert in cybercrimes, sweetheart scams, phishing techniques, card cracking, and credential harvesting related to recruitment of money mules and cyber threat actors around the country.
Karen is an active member of the ABA, ACFE, FS-ISAC and the IAFCI; obtaining her Certification in Cyber Crime Investigations and Certification in Financial Crime Investigations as well as CFE. She holds a position on the ABA fraud advisory group, the ACFE fraud council, and many other fraud industry working groups.

Steve Stasiukonis, Secure Network Technologies

Steve serves as President of Secure Network Technologies, focusing on Penetration Testing, Information Security Risk Assessments, Incident Response and Digital Investigations. Steve Stasiukonis has worked in the field of Information Security since 1997, specializing in the use of technology to identify information security vulnerabilities, assessing risk and the collection and interpretation of digital network intelligence.
As a part of that experience, Steve is an expert in Penetration Testing with a specialty in Social Engineering. He is listed in Wikipedia as one of the most notable Social Engineers and has written and demonstrated actual penetration testing social engineering efforts involving pretexting, phishing and physically compromising banks, data centers and other highly secure operations and facilities. Steve carries numerous security certifications by various organizations and served as a columnist for Information Week magazine and DarkReading.