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Combating Commercial Payments Fraud
An FDIC Symposium
Tuesday, May 11, 2010

L. William Seidman Center
3501 N. Fairfax Drive
Arlington VA, 22226-3599
C Building Auditorium

The Federal Deposit Insurance Corporation (FDIC) will hold a day-long symposium to examine the threat of commercial payments fraud posed by cyber criminals targeting small and midsize businesses on May 11, 2010. The FDIC has observed an increase in this type of fraud over the past several months, which has resulted in millions of dollars in losses, frayed business relationships and litigation affecting both banks and businesses.

These schemes—also known as “corporate account takeovers”—typically involve compromised access credentials to online business banking software that are used to make fraudulent electronic funds transfers (EFTs) through the automated clearinghouse (ACH) and wire payment systems. The illicit proceeds from these activities are often funneled through some type of fraudulent work-at-home scheme involving individuals who knowingly, or unknowingly, serve as “money mules” by forwarding funds to criminals outside the United States.

We are very pleased to have an exceptional lineup of speakers to lead this discussion, including: cyber security experts from the federal government, law enforcement officials, bankers, corporate payments experts, legal professionals, and others. Among the invited speakers are White House Cybersecurity Coordinator Howard L. Schmidt; technology journalist/author Joseph Menn; and National Cyber Security Alliance Director Michael Kaiser.

Panels will discuss:

  • Recent trends in corporate payments fraud;
  • The legal/regulatory framework governing payments and recent litigation;
  • Strengthening secure online financial transactions; and
  • Risk mitigation techniques and strategies for banks and businesses.

This event is free and open to the public; however, seating is limited and pre-registration is required. If you have questions regarding the Symposium, please send an email to:

Program Agenda and Highlights
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Program Agenda (Printable - PDF)
Program Highlights (Printable - PDF)
Event Program - PDF

Register online here:

Last Updated 11/16/2011

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