SRC Insights: Fourth Quarter 2004

Phishing: A Growing Threat to Financial Institutions and E-Commerce

by Frederick W. Stakelbeck, Jr., Training and Development Coordinator

The October 2004 issue of The RMA Journal included a series of articles that focused on fraud risk, management, and prevention. Michael E. Collins, senior vice president of the Supervision, Regulation and Credit department at the Federal Reserve Bank of Philadelphia authored one of those articles—“Current Fraud Management Techniques in Consumer Lending.” In this article, Mr. Collins discusses fraud mitigation techniques and issues affecting consumers, credit card issuers, and merchants. He closes by discussing the relationship between fraud and enterprise-wide risk management and bank management’s role in preventing fraud.

RMA members can log on to RMA’s website External Link to obtain a free copy of the article. Nonmembers can research and download The RMA Journal articles for a fee.

The views expressed in this article are those of the author and are not necessarily those of this Reserve Bank or the Federal Reserve System.

SRC Insights: Fourth Quarter 2004

Phishing: A Growing Threat to Financial Institutions and E-Commerce

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