In This Issue…
- Counterfeit savings bonds becoming issue in Oklahoma
- FinCEN posts alert on check fraud through postal service
- Bankers at state capitol: Register for OBA’s 2023 Contact Banker Program
- OBA education corner …
Counterfeit savings bonds becoming issue in Oklahoma
The U. S. Secret Service has shared information that counterfeit U.S. Savings Bonds are being fraudulently negotiated in financial institutions across Oklahoma.
The local Secret Service agents have notified us that losses were large ($176,000) for the impacted banks in Nevada where it originated and nationwide losses are estimated at over $50 million. This activity has now spread to Mississippi, Louisiana, Indiana, Kansas, Michigan and Oklahoma.
You can click here to read more about this looming threat on the front page of OBA.com.
FinCEN posts alert on check fraud through postal service
In light of a nationwide surge in check fraud schemes targeting the U.S. Mail, the Financial Crimes Enforcement Network issued an alert on Monday to financial institutions to be vigilant in identifying and reporting such activity.
This alert provided an overview of a recent surge in mail theft-related check fraud, highlighted select red
flags to assist financial institutions in identifying and reporting suspicious activity and reminded
financial institutions of their reporting requirements under the Bank Secrecy Act.
Click here for more information via FinCEN.
Bankers at state capitol: Register for OBA’s 2023 Contact Banker Program
We have set the dates for the 2023 Contact Banker Program. Click here to find a sign-up form with the dates for this year’s program. Please select dates that work best for you and return you form to email@example.com. Once we have the groups finalized, we will send an email confirmation for your date.
On the date you select, there will be a short briefing before we start walking the halls of the Capitol. Please know, we will stay together as a group the entire morning. We will do our best to have you spend a few minutes with both your state senator and state representative to either start a new relationship or strengthen one already in place. We won’t ask you to discuss current legislation – we want you to just chat with your members about issues facing your community or other pressing matters. Depending on what week you select, we will either sit in on a committee meeting or in the gallery to watch the action on the floor. Once we have finished all of our business at the Capitol, the OBA Government Relations Team will take everyone to lunch to discuss the events of the morning.
Everyone at the Capitol knows bankers are involved in the political process and watching how they vote. All of this success is because of the Contact Banker Program. This program is meant for all employees at the bank. There is no cost to attend other than your time. Please complete this registration form and send it to firstname.lastname@example.org.
Questions? Please contact Megan McGuire (email@example.com / 405-424-5252).
OBA education corner …
Sunday was the craziest severe weather night in a long, long while. One of our employees, who will remain nameless, said he noticed two things after he opened the door at his house in Norman on Sunday night when tornado sirens wailed (which also brings up the question, WHY WOULD YOU OPEN YOUR DOOR WHEN THE TORNADO SIRENS WAIL!?): 1. A torrential flood of rainwater pooled in his foyer; and 2. He was bald. He also commented one of those things had probably happened sometime prior to the tornado.
Anyway, silliness aside, we hope everyone is safe and sound after Sunday. While everyone is preparing for what might be a crazy storm season, take a little time to prepare for upcoming continuing education opportunities available through the OBA:
- CECL and the Call Report, March 7, webinar — This webinar will assist Call Report preparers, reviewers or auditors understand the various schedules and line items impacted by CECL reporting requirements.
- All Things TRID, March 8, webinar — This webinar is intended to review and discuss many of the major issues lenders are facing with TRID, including the most recent updates and some continued, unresolved questions and how to deal with them.
- 2023 IRA Beneficiary Designations and Payouts, March 9, webinar — As if IRA beneficiary payout options weren’t confusing enough, the last three years have brought turmoil to the IRA world with the IRS flip-flopping on how and when beneficiaries should take death distributions after the IRA owner dies.
- Managing a Successful Call Center, March 15, webinar — This webinar is intended to assist call center managers in ensuring they have well-trained agents in the call center who execute their responsibilities and duties effectively, the call center’s internal processes are top-notch and they know how to effectively use the technology.
- Wire Transfers: Staying Compliant and Avoiding Fraud Loss, March 16, webinar — Funds transfer fraud causes millions of dollars in losses for businesses and financial institutions every year. In 2022 alone, financial institutions filed over 300,000 Suspicious Activity Reports on incidents of wire fraud and/or suspicious funds transfers! What steps can be taken to protect your institution and your account holders?
- Call Report Update – Live Streaming, March 21, webinar — This six-hour live streaming webinar will provide information on new, proposed, and revised changes to the Call Report with identification of specific Call Report line items impacting March 2023 and beyond. Accounting guidance and regulatory changes will be discussed and presented in order to update those with Call Report preparation and review responsibilities.
- The Perfect Collision: 1071, CRA, Fair Lending, March 29, Oklahoma City — This program explains the intersection and gaps between the regulations and the current proposals. Knowing what is in place and what to expect will aid institutions in understanding the risks to have a plan in place to avoid issues.