By SCOTT ANCHIN Senior Vice President Strategic Initiatives and Policy, ICBA FRAUD WATCH Community banks have built strong fraud-prevention practices for customers sending money out. Tellers are trained to spot unusual wires. Verification thresholds catch large transfers. Conversations at the counter give customers who have been groomed by fraudsters the chance to reconsider their transactions. This work has long put community banks on the front lines of fraud prevention, but it captures only one side of the problem. The other side is inbound activity. Investment fraud, romance scams and online extortion schemes all produce money that must land somewhere before it can move on. Sometimes, it lands at community banks. WHEN YOUR BANK IS WHERE THE MONEY LANDS 12 NEBRASKA INDEPENDENT BANKER
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