ICBA releases guide on partnering with law enforcement to combat fraud

ICBA and the International Association of Financial Crimes Investigators this week released a guide on how community banks and law enforcement can build effective partnerships that help hold fraudsters and scammers accountable.

Details: "Community Banks and Law Enforcement: A Partnership Framework for Mutual Success" offers a framework for information sharing and reciprocal support between community banks and law enforcement to help prevent and prosecute financial crimes, promote community outreach, and expand public awareness of fraud and scams.

ICBA View: In a national news release, ICBA President and CEO Rebeca Romero Rainey said collaboration between community banks and law enforcement is essential to combating fraud and scams.

More: A recent blog post from ICBA details how community banks are making progress in the fight against check fraud through sustained advocacy, strong partnerships, and policy successes.

Anti-Fraud Efforts: ICBA has spearheaded and strongly supports numerous efforts to combat check fraud, including:

• Partnering with the U.S. Postal Inspection Service and working with the U.S. Postal Service to offer community banks educational materials to help consumers safeguard their financial assets.

• Creating practical fraud prevention resources for community bankers, including a guide for how to escalate concerns to regulators.

• Supporting the Trump administration’s efforts to address the Treasury Department’s use of paper checks to reduce check fraud.

• Spearheading a Fraud and Scams Task Force of community bankers and state association partners focused on information sharing and industry collaboration.

• Helping to develop “Mitigating Check Fraud Risk in the Modern Financial Ecosystem,” a free report that provides actionable strategies to mitigate fraud risk.

• Supporting the growth of instant payments options like the FedNow Service, which allows for efficient payments and immediate funds settlement while mitigating risks to the financial system.