The upward trend in scam activity is testing markets everywhere. As the pace of scam activity accelerates, so too does the need for financial institutions to be much more deliberate in disclosing and defending how and where to draw the boundary between what qualifies for reimbursement and what does not, and to step up efforts to deputize the vulnerable in the struggle to protect them from financial predators. The core of the challenge is to ensure that FIs disclose to consumers that they are not protected under certain circumstances, explain to consumers why this is the case, and enlist them in the fight against scammers.

This panel will discuss the trends in scam activity that are shaping how FIs identify the vulnerable within their portfolios and how they can proactively engage with them without frightening them.