When it comes to fraud, we are being hit on all fronts with scams that range from the very basic to the most sophisticated. We’re at this unique place in time where a bank needs both the technological tools to thwart AI-generated digital attacks and the knowledge to battle old-school check washing and forgery schemes. 

It means that our mitigation strategies must combine advanced monitoring with good old-fashioned gut instinct to help our teams and customers protect themselves and our banks. In short, we must educate our customers, prepare our teams, shore up our digital defenses and monitor transactions, all while continuing to run the business of banking. 

It’s a lot in any environment. Fortunately, we are not alone. As a community of community bankers, we have strength in numbers. 

Consider that one of the most powerful tools in the fight against fraud is information sharing. When community bankers alert their peers to a new type of fraud or a rise in a particular form of attack, they empower the community to act. Supported by this firsthand knowledge, community bankers can prepare stronger defenses for their own organizations. By sharing these stories and experiences, we help others learn and prevent it from happening somewhere else.

That’s where ICBA Community comes into play. Created as a secure platform for member communication, ICBA Community offers a way to disseminate information on fraud scams and tips for addressing them. It’s like having eyes and ears out there, delivering insights into what others are seeing and what has worked to prevent losses. It’s not just a forum for understanding current threats; it delivers that ability to learn through others’ firsthand experiences and makes fraud real.

Yet, fighting fraud requires more than information alone, and ICBA’s core pillars of advocacy, education and innovation support community banks in their risk mitigation. On the advocacy side, we worked closely with the Federal Financial Institutions Examination Council to ensure that when they phased out the Cybersecurity Assessment Tool, there were alternatives available. We also created a webinar series highlighting solutions created in collaboration with regulators. Our education offerings include prevention training to teach staff the latest fraud identification and mitigation techniques. Our innovation work through our ThinkTECH program, solutions directory and Preferred Service Providers also empowers community banks to identify the latest fraud mitigation tools. 

Fraud prevention is a continuous battle, but with ICBA, you are armed with the information, tools and knowledge you need to defend your bank. And with that support bolstering your efforts, you are poised to win.  

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Where I’ll be
this month

I’ll be hosting our leadership bankers for fall committee meetings in San Antonio and speaking at the Western States Director Education Foundation’s Annual Symposium for Community Bank Directors.