In This Issue…
- Additional info from SBA on loan fraud
- Be sure to return your bank’s Hall of Fame ballots!
- Oklahoma Views & Vistas calendar available for discounted pricing through Aug. 31
- OBA education corner …
Additional info from SBA on loan fraud
Roger Pak, special agent with the SBA and our point of contact for SBA loan fraud, has asked we share information that would be helpful in his investigations.
With every SBA ACH, you will find a loan number, which can be found in:
- The 10 digits following CT* in the ACH description SBAD TREAS: 310/MISC PAY RMT*CT*##########.
- The first 10 digits of the customer ID ending in 73000.
When banks come across suspected fraudulent SBA deposits, this key bit of information will help him tremendously in identifying the origin of the subject SBA Loan in question.
Free Oklahoma Insurance Hoodwinked programs available two more months
Our annual partnership with OID, AARP, OK AG and Securities was a virtual event this year and is a wealth of free information for your bank staff and your customers.
It is easily access at oid.ok.gov/consumers/events/hoodwinked. You can click on each session independently and watch them in any order. The first centers on Medicare fraud, guardianships and POAs. The second is AARP on various online scams and Securities on investment fraud. The third is the OBA’s Elaine Dodd on banking fraud, and the final session is the AG’s office on consumer fraud.
Each one has wonderful tips for everyone. These will only be online for another two months, so enjoy while you can!
Fraud Tip/Alert from the Panhandle
One of our banks in the panhandle had a scenario it wanted to share to alert others.
A vehicle was found online by a customer. An escrow agent would hold the funds until the car was delivered. The banker was automatically suspicious, but the website was really good. The “company” emailed the customer a good contract the buyer and seller both e-signed. They emailed the bank a copy of the title and even had a tracking section by specific contract number. It pulled up specific transaction details with an estimated time of delivery.
The intricacy of the website, as well as hold music on the line, gave further credibility. The first time the banker spoke to them, they needed a contract number. They said they couldn’t help him without it. Once he got the contract number, they were able to get him the info needed, making it feel even more legit.
Once the customer became suspicious, they found this article explaining the scam in detail and forwarded it: https://www.bbb.org/article/news-releases/17905-vehicle-shippers-springing-up-on-internet-may-be-scams-bbb-warns.
Our banker has offered to share any details that be helpful and wanted to get the word out to help our other Oklahoma banks stay safe!
Contact Elaine at firstname.lastname@example.org if you have questions.
Be sure to return your bank’s Hall of Fame ballots!
By now, your bank should have received its Oklahoma Bankers Hall of Fame ballots, which were mailed out on July 31. Please make sure your bank’s ballots are returned to the OBA by Aug. 21 so they can be tallied.
If you have any questions, contact Lea Ann Jackson at the OBA.
Oklahoma Views & Vistas Calendar available for discounted pricing through Aug. 31
The 2021 Oklahoma Views & Vista Calendar is now ready to be purchased – order yours by Aug. 31 (newly extended deadline) to get the special low price of just 99 cents per calendar. Pricing after Aug. 31 is $1.09 per calendar. Final deadline to purchase is Sept. 15.
This is a great way to share your bank’s logo and information to your customers! Click here for more information and an order form.
OBA education corner …
Some live events are starting to peek their heads out from underneath the blanket! Look for those coming up soon. You can also download a flyer highlighting upcoming webinars by clicking here, or just peruse below for those coming soon!
NOTE: Effective March 16, and until further notice, TTS (our webinar provider) has extended the OnDemand access period for all ‘Live Plus Five (Days)’ registrants to 60 days (versus five business days). Also, they are waiving the $75 per location fee for additional locations
- ACH Exception Processing, Aug. 26, webinar — Gain a better understanding of exception processing from returns to notifications of changes to DNE and more, plus return reporting requirements.
- An Introduction to Fiduciary Accounts, Aug. 27, webinar — While documentation requirements vary from state-to-state, the general principles behind most fiduciary accounts remain the same. Join Regulatory Compliance Counsel Michael Christians for a high-level overview of the fiduciary accounts your financial institution is most likely to encounter.
- BSA Emerging Issues – Impact of COVID on Transaction Monitoring, Aug. 27, webinar — What are the important issues facing the BSA Department in 2020? During this program we will focus on the new and continuing issues of 2020.
- Power of Attorney Documents – How To Prevent Loss, Aug. 28, webinar — This program will look at power of attorney “dos and don’ts” and how to prevent your institution from making costly mistakes in handling these high-risk documents.
- Strategic Planning for Financial Institutions – It’s All About Your Strategy!, Sept. 1, webinar — This year brought unexpected change, uncertainty, and fear to the entire world due to the pandemic. Community financial institutions must quickly adapt and so does your strategic plan.
- Thirty Steps to Audit Your Safe Deposit Area, Sept. 2, webinar — Management should take full advantage of an effective safe deposit audit program as their protection against losses due to negligence or carelessness.
- 2020 Supervisor Bootcamp, Sept. 3, Oklahoma City — Explore the coaching and leadership skills that lay out your plan for success as a highly effective supervisor in this results-oriented workshop!
- Best-Ever Compliance Checklists for Commercial Loans, Sept. 3, webinar — This colorful checklist, patterned after the popular Best-Ever Consumer Checklists, will guide bankers through compliance traps and ensure compliance.
- Federal Benefit Payments Garnishment Requirements, Sept. 8, webinar — Compliance officers, legal counsel and financial institution personnel who process garnishment answers should consider tuning in to this webinar.
- Business Continuity and Cybersecurity in a New World, Sept. 23, Oklahoma City — Presidents, CFOs, operations team members and others involved in contingency planning should consider attending this seminar.