BITS Online Fraud Library

BITS Online Fraud Library

This library is compiled by BITS from publicly available reports and documents, as a resource for fraud-related information. BITS does not endorse any particular organization or their products, services, or other information provided by these links.

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This page is periodcially updated. Please check back for new information. Bolded items are recent additions.

 

  • Anti Money Laundering/Suspicious Activity Reporting
  • Check 21
  • Consumer Education
  • Counterfeit Checks
  • Cybercrime Security Deals 
  • Data Breaches/Information Security
  • Email Security
  • Financial Abuse of the Elderly and Vulnerable
  • Fraud Risk Management
  • Identity Theft
  • Internal Fraud
  • Mobile Payments
  • Mortgage and Loan Fraud
  • Online/Remote Channel Fraud
  • Payment Card/ATM Fraud
  • Payments Fraud and Risk

 

  • Remote Deposit Capture

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Anti Money Laundering/Suspicious Activity Reporting
– FinCEN Report on Outreach to Large Depository Institutions
(Oct 2009)
– Symantec States It is Highly Likely That A North Korean Group Is Responsible For Ransomware Attacks
(May 2017)
– FinCEN’s SAR Activity Review: Trends, Tips & Issues
Issue 15
 (May 2009)
– Anti-Money Laundering (AML) Source Tool for Mutual
Funds
 (Jan 2009)
– SAR Activity Review – By the Numbers (Nov 2008)
– SAR Activity Review: Trends, Tips & Issues
Issue 14
 (Oct 2008)
– FinCEN Update: Prepared Remarks of James H.
Freis, Network: Promoting Information Sharing in our
Global Anti-money Laundering/Counterterrorism
Finance Efforts
 (Oct 2008)
– SAR Activity Review: By the Numbers (May 2008)
– SAR Activity Review: Tips, Trends and Issues,
Issue 13
 (May 2008)
– FinCEN’s Strategic Plan for 2008-2012 (May 2008)
– Financial Crimes Enforcement Network FY07 Annual
Report
 (Apr 2008)
– SAR Activity Review: By the Numbers (Jan 2008)
– Reporting of Certain Currency Transactions for Sole
Proprietorships and Legal Entities Operating Under a
“Doing Business As” (“DBA”) Name
 (Jan 2008)
– Suggestions for Addressing Common Errors Noted in
Suspicious Activity Reporting
 (Oct 2007)
– SAR Activity Review: Issue 12 (Oct 2007)
– Bank Secrecy Act/Anti-Money Laundering Examination
Manual
 (Aug 2007)
– Bank Secrecy Act/Anti-Money Laundering Examination
Manual
 (Aug 2006)
– Special Due Diligence Programs for Certain Foreign
Accounts
 (Aug 2007)
– Suspicious Activity Report Supporting Documentation
(Jun 2007)
– SAR Activity Review: By the Numbers (Jun 2007)
– SAR Activity Review: Issue 11 (May 2007)
– 2007 National Money Laundering Strategy (May 2007)
(4MB)
– Financial Crimes Enforcement Network FY06 Annual
Report
 (Apr 2007) (14MB)
– Interagency Guidance on Sharing Suspicious Activity
Reports with Head Offices and Controlling Companies

(Jan 2006)
– U.S. Money Laundering Threat Assessment (Dec 2005)
– Final Regulation Implementing Section 312 of the
USA PATRIOT ACT
 (Dec 2005)
– Money Laundering: A Banker’s Guide to Avoiding
Problems
 (Dec 2002)

Check 21
– Board of Governors of the Federal Reserve System
Report to the Congress on the Check Clearing for
the 21st Century Act of 2003
 (Apr 2007)
– Check 21 and Check Fraud Prevention: Are They
Mutually Exclusive?
 (As contained in the Federal
Reserve Bank of Philadelphia Publication: SRC Insights)
– Implementing the Check 21 Act: Potential risks facing
banks
 (Aug 2005)
– Strategies for Mitigating Fraud Risks Associated with the
Check Clearing in the 21st Century Act
 (Oct 2004)
– Check 21 Resource Document (Mar 2004)

Consumer Education
– Manipulation and Abuse of the Consumer Credit
Reporting Agencies
 (Aug 2009)
– Identity Theft Help for Victims
– Plastic Fraud (Jun 2008)
– Count on Scammers and Schemers to Follow the
News
 (Feb 2008)
– BITS Mortgage Fraud Prevention: An Education and
Awareness Toolkit for Consumers
 (Jan 2008)
– ID Crime Prevention Toolkit 
– ID Crime Recovery Toolkit (2.5MB)
– Treasury Warns Public About E-Mail Scams (Dec 2007)
– To Buy or Not To Buy: Identity Theft Spawns New
Products and Services To Help Minimize Risk

(Nov 2007)
– STOP, THINK, CLICK: Seven Practices for Safer
Computing
 (Sep 2007)
– FinCEN Warning Notice: Fraudulent Stop Order Scams
(Aug 2007)
– FTC Brochure: Giving the Bounce to Counterfeit Check
Scams
 (Feb 2007)
– How Not to Get Hooked by a ‘Phishing’ Scam
(Oct 2006)
– Fighting Back Against Identity Theft: Common
Ways Identity Theft Happens
 (May 2006)
– 10 Dumb Things Users Do That Can Mess Up Their
Computers
 (May 2006)

Counterfeit Checks
– The Evolution of the Check as a Means of Payment
(Jan 2009)
– FTC Brochure: Giving the Bounce to Counterfeit Check
Scams
 (Feb 2007)
– BITS Voluntary Guidelines for Collections in the Financial
Services Industry
 (Mar 2004)

Cybercrime
– McAfee Threats Report: Second Quarter 2010
(Aug 2010)
– 14th Annual CSI Computer Crime and Security Survey  (Dec 2010)
– In the Crossfire – Critical Infrastructure in the Age of
Cyber-War 
(Jan 2010)
– 2010 Threat Predictions (Dec 2009)
– Symantec: Top Security and Storage Trends to
Watch
 (Dec 2009)
– McAfee Virtual Criminology Report 2009 (Nov 2009)
– The Top Cybersecurity Risks (Sep 2009)
– APWG: Phishing Activity Trends Report (Jan-June 2009)
– Understanding Scam Victims: Seven Principles for
System Security
 (Aug 2009)
– A Cybercrime Hub   (Aug 2009)
– McAfee Threats Report: 1st Quarter 2009   (May 2009)
– Symantec Global Internet Security Threat Report Trends
for 2008
 (Apr 2009)
– Symantec Report on the Underground Ecomomy
(Nov 2008)
– IAAC Directors’ and Corporate Advisors’ Guide to Digital
Investigations
 (Nov 2008)
– DOJ: Cybercrime Against Businesses (Oct 2008)
– Data Breaches: What the Underground World of
“Carding” Reveals
 (May 2008)
– Global Markets and Global Vulnerabilities: Fighting
Transnational Crime through Financial Intelligence

(Apr 2008)
– Electronic Crime Scene Investigation: A Guide for First
Responders, Second Edition
 (Apr 2008)
– Russian Business Network Study (Oct 2007)
– GAO-07-705: Cybercrime: Public and Private Entities
Face Challenges in Addressing Cyber Threats

(Jun 2007)
– CRS Report for Congress Terrorist Precursor Crimes:
Issues and Options for Congress
 (May 2007)

Data Breaches/Information Security
– MessageLabs Intelligence: 2009 Annual Security Report 
(December 2009)
– Hey, You, Get Off My Cloud: Exploring Information Leakage in Third Party Compute Clouds
(Oct 2009)
– On the Leakage of Personally Identifiable Information Via Online Social Networks
(Aug 2009)
– Verizon 2009 Data Breach Investigations Report
(Apr 2009)
– McAfee: 2009 Threat Predictions (Jan 2009)
– Information Security Breaches: Thinking Back and
Looking Ahead
 (Sep 2008)
– UNISYS Security Index: Global Summary (May 2008)
– Do Data Breach Disclosure Laws Reduce Identity
Theft?
 (Jun 2008) ( see our Wolters Kluwer promo codes ,They are our recommended provider for all legal, business, tax, accounting, finance, audit, risk, compliance matters .)
– 2008 Data Breach Investigations Report
(Verizon)
 (May 2008)
– Best Security, Privacy and Data Protection Articles
of 2007
 (Jan 2008)
– SANS Top-20 2007 Security Risks: 2007 Annual Update
(Nov 2007)
– GAO-07-837: Information Security: Despite
Reported Progress, Federal Agencies Need to Address
Persistent Weaknesses
 (Jul 2007)
– GAO-07-737: Personal Information: Data Breaches
Are Frequent, but Evidence of Resulting Identity Theft
Is Limited; However, the Full Extent Is Unknown

(Jun 2007)
– BITS/ABA Key Considerations for Responding to
Unauthorized Access to Sensitive Customer Information

(Nov 2006)
– BITS Consumer Confidence Toolkit: Data Security and
Financial Services
 (Oct 2006)
– BITS Key Considerations for Securing Data in Storage
and Transport
 (Apr 2006)
– Interagency Guidelines Establishing Information Security
Standards: Small-Entity Compliance Guide
 (Dec 2005)

Email Security
– Phishing Activity Trends Report: 3rd Quarter 2009 (Jan   2010)
– Count on Scammers and Schemers to Follow the
News
 (Feb 2008)
– STOP, THINK, CLICK: Seven Practices for Safer
Computing
 (Sep 2007)
– BITS Email Security Toolkit: Protocols and
Recommendations for Reducing the Risks
 (Apr 2007)
– How Not to Get Hooked by a ‘Phishing’ Scam (Oct 2006)

Financial Abuse of the Elderly and Vulnerable
– BITS Fraud Protection Guide: Protecting the Elderly and   Vulnerable from Financial Fraud and Exploitation  (February 2010, Updated from 2005)
– BITS Fraud Protection Training Guide: PowerPoint   Presentation (February 2010, Updated from 2005)
– BITS Fraud Protection Guide: Protecting the Elderly and
Vulnerable from Financial Fraud and Exploitation

(Nov 2005)

Fraud Risk Management
– Advice for Phone and Online Banking Users (Jan 2010)
– 2009 Lexis Nexis True Cost of Fraud (Nov 2009)
– Bank Secrecy Act – GAO: Suspicious Activity Report Use
Is Increasing
 (Apr 2009)
– Six Critical Elements of a Comprehensive Risk
Management Program
 (Dec 2008)
– 2008 RSA Online Fraud Report (Dec 2008)
– Managing the Business Risk of Fraud: A Practical Guide
(Jul 2008)
– Ten Things About Fraud Control (Nov 2007)
– How Does Your Hotline Measure Up? (Checklist Criteria)
(Nov 2007)
– Financial Crimes Report to the Public,
Fiscal Year 2007
 (Sep 2007)
– Risky Business: Managing Electronic Payments in the
21st Century
 (Dec 2005)

Identity Theft
– Predicting Social Security Numbers from Public Data
(Jul 2009)
– FTC Compliance Guide: Fighting Fraud with the Red
Flags Rule
 (Mar 2009)
– Identity Theft Assistance Center Blog
– Vicitms’ Rights: Fighting Identity Crime on the Front
Lines
 (Feb 2009)
– FTC Report: Security in Numbers – SSNs & ID Theft
(Dec 2008)
– Identity Theft Help for Victims
– Identity Theft: The Aftermath 2007 (Jun 2008)
– Victims of Fraud Dossier, Part IV (May 2008)
– International Association of Chiefs of Police (IACP) and
Bank of America Identity Crime Toolkits (Dec 2007)
– ID Crime Prevention Toolkit 
– ID Crime Recovery Toolkit (2.5MB)
– Police Chief’s Identity Crime Toolkit (3MB)
– Identity Fraud Trends and Patterns: Building a
Data-Based Foundation for Proactive
Enforcement
 (Oct 2007)
– FTC 2006 Identity Theft Survey Report
– Identity Theft Laws: State Penalties and Remedies and
Pending Federal Bills
 (Jun 2007)
– Fighting Back Against Identity Theft: Common
Ways Identity Theft Happens
 (May 2006)
– Identity Management at Credit Unions (Mar 2006)
– Identity Theft: Some Outreach Efforts to Promote
Awareness of Consumer Rights are Under Way 

(Jun 2005)
– Local Law Enforcement’s Response to Identity Theft
Crimes: Strategies to Support the Investigative Role of
the Police and Compliance with the F.A.C.T. Act of 2004

(Jun 2005)
– Locking up the Evil Twin: A Summit on Identity Theft
Solutions
 (Mar 2005)
– National and State Trends in Fraud & Identity Theft
(Feb 2005)
– The Use of Technology to Combat Identity Theft
(Feb 2005)
– Identity Theft: A Risk to be Managed (Feb 2005)
– Putting an End to Account-Hijacking Identity Theft
(Dec 2004)
– Putting an End to Account-Hijacking Identity Theft
Study Supplement
 (Jun 2005)
– BITS Fraud Reduction Guidelines: Strategies for Identity
Theft Prevention and Consumer Assistance
 (Jul 2003)
– Documents to Assist Members in Addressing Email
Hoaxes (July 2003)
– Questions for Financial Institutions to Ask
Customers Calling to Report an Email Hoax

Internal Fraud
– Report to the Nation on Occupational Fraud and Abuse(June 2010)
– Deloitte’s 6th Annual Global Security Survey (Feb 2009)
– ACFE 2008 Report to the Nation on Occupational Fraud &
Abuse
 (Jul 2008)
– Managing the Business Risk of Fraud: A Practical Guide    (Jul 2008)
– (ISC)2 Global Information Security Workforce
Study
 (May 2008)
– When Bad Things Happen to Good Banks: The Perils of
Unbalanced Internal Control Regime
 (Mar 2008)
– CERT Podcast: Insider Threat and the Software
Development Life Cycle
 (Mar 2008)
– Insider Threat Study: Illicit Cyber Activity in the
Government Sector
 (Jan 2008)
– Insider Threat Study: Illicit Cyber Activity in the
Information Technology and Telecommunications Sector

(Jan 2008)
– Internal Fraud: Building the Business Case for
Investment
 (Oct 2007)
– KPMG Profile of a Fraudster Survey 2007 (Aug 2007)
– Internal Fraud: Surveying the Current Landscape
(Mar 2007)
– Report to the Nation on Occupational Fraud & Abuse
(Aug 2006) (7MB file)
– Common Sense Guide to Prevention and
Detection of Insider Threats, Ver 2.1
 (Jul 2006)
– Insider Activities: Comptroller’s Handbook (Mar 2006)
– Insider Threat Study: Computer System Sabotage in
Critical Infrastructure Sectors
 (May 2005)
– Insider Threat Study: Illicit Cyber Activity in the
Banking and Finance Sector
 (Aug 2004)

Mobile Payments
– Boston and Atlanta Feds cohost mobile payments   industry roundtable meeting (June 2010)
– Mobile Payments in the United States at Retail Point of   Sale: Current Market and Future Prospects (May 2010)
– Alternatives for Banks to offer Secure Mobile Payments  (March 2010)
– Mobile Payments: Mobile Operator Market Opportunities
and Business Models
 (Aug 2007)

Mortgage and Loan Fraud
– Loan Modification and Foreclosure Rescue Scams –   Evolving Trends and Patterns in Bank Secrecy Act
Reporting
 (Jun 2010)
– 2009 FBI Mortgage Fraud Report “Year in Review”
(May 2010)
– FinCEN Mortgage Loan Fraud Update: Suspicious Activity   Report Filings from July 1-September 30, 2009 (Feb
2010)
– The Detection and Deterrence of Mortgage Fraud
Against Financial Institutions: A White Paper 
(Feb 2010)
– FFIEC Issues 2009 Mortgage Fraud White Paper: The
Detection and Deterrence of Mortgage Fraud Against
Financial Institutions”
(Feb 2010)
– FinCEN’s SAR Activity Review: Trends, Tips & Issues”
(Oct 2009)
– Q2 2009 Mortgage Fraud Risk Report”(Aug 2009)
– FBI 2008 Mortgage Fraud Report, “Year in Review”
(Jul 2009)
– FinCEN Advisory: Guidance to Financial Institutions on
Filing Suspicious Activity Reports Regarding Loan
Modification/Foreclosure Rescue Scams
 (Apr 2009)
– FinCEN Report: Mortgage Loan Fraud Connections with
Other Financial Crime
 (Mar 2009)
– Mortgage Asset Research Institute’s (MARI�) 11th
Periodic Mortgage Fraud Case Report to the Mortgage
Banker’s Association (MBA)
 (Mar 2009)
– Filing Trends in Mortgage Loan Fraud (Feb 2009)
– OCC Offers Consumer Tips to Avoid Foreclosure
Rescue Scams
 (May 2008)
– Q2-2008 Core Mortgage Risk Monitor (Apr 2008)
– FBI 2007 Mortgage Fraud Report (Apr 2008)
– Suspected Money Laundering in the Residential Real
Estate Industry: An Assessment Based Upon Suspicious
Activity Report Analysis
 (Apr 2008)
– Mortgage Loan Fraud: An Update of Trends based Upon
an Analysis of SARs
 (Apr 2008) (5MB)
– Mortgage Loan Fraud: An Industry Assessment based
upon SAR Analysis
 (Nov 2006)
– Interthinx Training DVD: Fraud Angels (Mar 2008)
– BITS Mortgage Fraud Prevention: An Education and
Awareness Toolkit for Consumers
 (Jan 2008)
– MBA Study: Strengthening Federal and State Mortgage
Fraud Prevention Efforts
 (Oct 2007)

Online/Remote Channel Fraud
– APWG Global Phishing Survey (registration required)
 (May 2010)
– CyberSource: 10th Annual Online Fraud Report
 (Apr 2010)
– Malicious Software: A Security Threat to the
Internet Community
 (Jun 2008)
– CyberSource: 8th Annual Online Fraud Report
(Apr 2008) (registration required)
– A Practical Approach to Managing Phishing (Apr 2008)
– APWG: Advisory on Utilization of Whois Data For
Phishing Site Take Down
 (Mar 2008)
– APWG: Phishing Activity Trends (Dec 2007)
– APWG: The Relationship of Phishing and Domain Tasting
(Sep 2007)
– Online Financial Fraud and Identity Theft Report
(Aug 2007)
– Report on Phishing A Report to the Minister of Public
Safety and Emergency Preparedness Canada annd the
Attorney General of the United States (Oct 2006)
– 10 Dumb Things Users Do That Can Mess Up Their
Computers
 (May 2006)
– Online Identity Theft: Phishing Technology, Chokepoints
and Countermeasures
 (Oct 2005)
– FFIEC: Authentication in Internet Banking Environment
(Oct 2005)
– Voluntary Guidelines for Consumer Confidence in Online
Financial Services
 (Sep 2005)
– STAR ID Theft/Phishing Research Update (May 2005)
– Fraud Prevention Strategies for Internet Banking
(Apr 2003)

Payment Card/ATM Fraud
– A Method for Improving the Benchmarks Used to
Monitor ACH Returns
 (Jun 2010)
– Where Security Fits in the Payments Processing Chain
(May 2010)
– Federal Reserve Bank of Philadelphia Payment Cards
Center: Update Newsletter
 (Spring 2010)
– Best Practices for Managing Cardholder Dispute,
Chargeback Processes
 (Mar 2010)
– The 2008 Survey of Consumer Payment Choice
(Jan 2010)
– The future of everyday payments in Europe: Who cares?
(Jan 2010)
– Skimming Prevention: Best Practices for Merchants
(Sep 2009)
– ATM Crime: Overview of the European Situation and
Golden Rules on How to Avoid It
 (Aug 2009)
– Stopping Card Fraud in its Tracks (Jul 2009)
– Economics of payments card: A status report
(Mar 2009)
– The Federal Reserve’s Role in Retail Payments: Adapting
to a New Environment
 (Jan 2009)
– The Economics of Payment Cards (Nov 2008)
– Recent Payment Trends in the United States (Oct 2008)
– BITS Debit Card/ATM Fraud Resource List (Oct 2008)
– Understanding Risk Management in Emerging Retail
Payments
 (Sep 2008)
– Payments Card-related Legislative and Policy Update
(Sep 2008)
– Plastic Fraud (Jun 2008)
– A Guide to the ATM and Debit Card Industry:
2006 Update
 (Jan 2007)
– Targeting Debit Card Fraud: A Multi-pronged Approach
to Educate, Prevent and Detect
 (Nov 2005)
– The Laws, Regulations, and Industry Practices That
Protect Consumers Who Use Electronic Payment
Systems: Credit and Debit Cards
 (Jan 2005)

Payments Fraud and Risk
– 2010 AFP Payments Fraud Survey (Apr 2010)
– Heartland Payment Systems: Lessons Learned from a
Data Breach
 (Jan 2010)
– Payments Fraud. How it happens. And what you can do
to protect your organization.
 (Nov 2009)
– Payment Cards and Mobile: Inside Fraud (Oct 2009)
– The Beating Heart of Banking: Insights in Global
Payments
(June 2009)
– Payments Fraud: Perception versus Reality – A
Conference Summary 
(June 2009)
– Payment System End-Users Committee (EUC) Position
Paper on SEPA Direct Deposit
 (Jul 2009)
– A Backward Glance While Looking Forward
Federal Reserve Bank of Kansas City (Apr 2009)
– 2009 AFP Payments Fraud and Control Survey: Report
of Survey Results
 (Mar 2009)
– The Federal Reserve’s Role in Retail Payments: Adapting
to a New Environment
 (Jan 2009)
– Consumer Choice and Merchant Acceptance of Payment
Media
 Federal Reserve Bank of Chicago (Nov 2008)
– The Economics of Payment Cards
Federal Reserve Bank of Chicago (Nov 2008)
– Recent Payment Trends in the United States (Oct 2008)
– Understanding Risk Management in Emerging Retail
Payments
 (Sep 2008)
– Assessing the Landscape of Payments Fraud
Chicago Fed Letter (Jun 1008)
– 2008 Payments Conference “Payments Fraud:
Perception Versus Reality”
 (Jun 1008)
– The Contactless Wave: A Case Study in Transit
Payments
 (Jun 2008)
– FFIEC Booklet: Wholesale Payment Systems
– The Evolution of the ACH (Dec 2007)
– Chicago Fed Letter: Competitive Forces Shaping the
Payments Environment: What’s Next?
 (Aug 2007)
– Accepting Contactless Payments: A Merchant
Implementation
 (Jun 2007)
(Registration required for full report)
– Fraud in the ACH System: A Holistic Approach for
Financial Institutions
 (Jun 2007) (Registration required)
– Liability Flows Among Networks – Comment Letter on
Cross-Network Liability
 (May 2007)
– Third Party Payments System Access Control White
Paper and Recommendations
 (May 2007)
– BITS ACH Check Conversion Risk Management Toolkit
(Mar 2007)
– FRB: The Supervisory Framework Surrounding Nonbank
Participation in the U.S. Retail Payments System:
An Overview
 (Apr 2006)
– NACHA: A Comprehensive Strategy for Risk
Management in the ACH Network
 (Feb 2007)
– OCC Bulletin 2006-39 – Managing Risks of ACH Activity
(Sep 2006)
– NACHA: A New Strategic ACH Rules Framework for Risk
Mitigation in the 21st Century
 (May 2005)
– The Laws, Regulations, and Industry Practices That
Protect Consumers Who Use Electronic Payment
Systems: ACH E-Checks & Prepaid Cards
 (Mar 2005)
– Account-to-Account Services: Emerging Product
Overview
 (Mar 2005)

Remote Deposit Capture
– BITS Remote Deposit Image Capture: The Processes,
Risks and Strategies Used to Mitigate Them
 (Sep 2006)
– NetDeposit: Remote Deposit Capture: A White Paper
Addressing Regulatory, Operational and Risk Issues

(Aug 2006)