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Fraud Reduction Program

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.

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

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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)
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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)
Back to Top

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)
Back to Top

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)
Back to Top

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)
Back to Top

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)
- 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)
Back to Top

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)
Back to Top

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)
Back to Top

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)
Back to Top

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

Back to Top

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)
Back to Top

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)
Back to Top

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´┐Ż) 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)
Back to Top

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)
Back to Top

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)
Back to Top

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)
Back to Top

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)
Back to Top

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