| | October - 2020ENTERPRISE SECURITY8The COVID-19 global pandemic is challenging our society, stressing public health systems, and causing immeasurable harm and grief to millions of families. Unscrupulous criminals, however, view COVID-19 as yet another opportunity to profit from fraud and conceal ill-gotten funds for personal gain. Fraudsters view panic, short-term demand for essential items, and the largesse of government spending as lucrative means to generate illicit profits, often through tried and true techniques. The U.S. Department of Justice (DOJ) has acted quickly, targeting criminals and sharing valuable information with the private sector. The Federal Bureau of Investigation, Internal Revenue Service, and the Financial Crimes Enforcement Network (to name just a few) have published red flags and shared learnings from ongoing investigations with financial institutions. This vital information, combined with existing monitoring systems and proactive analysis, feedsthe financial sector's efforts to identify concerning FRAUD IN THE TIME OF COVIDBy Jason Blumenauer, Vice President Head of Security, FirstGroupIN MY OPINION
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