The Current State of Fraud: Understanding Today’s Modern Financial Scams

Overview

Who Should Join

Heads of Fraud, Heads of Compliance, Compliance officers, producers – anyone with Fraud or AML in their title or responsibilities; Fraud/Risk Committee, Regulatory Compliance Committee, AML User Group

Highlights

Fraud attempts continue to be on the rise in the United States, with an estimated hundreds of billions of dollars reported as theft in 2024 by the Federal Trade Commission. Since the COVID-19 pandemic, we've seen meteoric growth in fraud attempts, especially in the online space. When older adults are victimized, the impact is often catastrophic.

Join Russ Anderson of LIMRA and Kathy Stokes from AARP as they have a conversation diving deeper into the current state of Fraud in the United States, what's driving the increase in fraud and how it continues to succeed, and what financial professional and institutions can do to combat the issue.

Presenters

Kathy Stokes

Director, Fraud Prevention Programs, AARP Fraud Watch Network

Kathy Stokes

Director, Fraud Prevention Programs, AARP Fraud Watch Network

Kathy Stokes is a nationally recognized leader in the fraud arena. As Director of Fraud Prevention Programs with the AARP Fraud Watch Network, Kathy leads AARP’s social mission work to educate older adults on the risks that fraud represents to their financial security. Since 2019, she and her team have expanded AARP’s leadership in this space, by mounting a national campaign to change the narrative on how we talk about fraud victims and guiding an effort to fundamentally transform how our country addresses fraud. Kathy currently serves on the advisory council to the Board of the International Association of Financial Crimes Investigators and on the advisory council to the Senior Issues Committee of the North American Securities Administrators Association. Kathy also serves on a Federal Reserve Working Group on Scam Information Sharing.

Russ Anderson, CFE

Head of Fraud Prevention and Compliance Solutions, LIMRA and LOMA

Russ Anderson, CFE

Head of Fraud Prevention and Compliance Solutions, LIMRA and LOMA

Russ is currently responsible for leading LL Global, Inc’s. Financial Crimes Services program and tasked with identifying, defining and building shared business solutions, to help the industry better combat fraud. Russ is a Certified Fraud Examiner with 30 years of industry experience working in and leading various auditing, compliance, finance, risk management and fraud operations teams.