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Fed Reserve establishes working group on payments fraud data

The Federal Reserve has announced the members of its Fraud Definitions Work Group, an initiative to advance the Fed's strategy for improving the U.S. payment system. Over the next year, participants will work collaboratively with Fed leaders to formulate recommendations for improving the quality and consistency of automated clearing house, wire, and check fraud data. 

Work will begin later this month to examine existing payments fraud definitions and areas where new or changed definitions could be helpful. The work group also will create a roadmap to encourage broad industry adoption of this classification model to improve the consistency and timeliness of available payments fraud data.

Members of the Fraud Definitions Work Group are: 

  • Ken Montgomery, Fraud Definitions Work Group sponsor, Federal Reserve System payments security strategy leader, and chief operating officer, Federal Reserve Bank of Boston
  • Jim Cunha, Fraud Definitions Work Group chair and senior vice president of treasury and financial services,  Federal Reserve Bank of Boston
  • Gasan Awad,  vice president, fraud and anti-money laundering product management, Fiserv
  • Dondi Black,  vice president, senior enterprise fraud strategist, FIS
  • Jamey Boone,  vice president, fraud risk management, Early Warning Services
  • Nell Campbell-Drake, vice president, Retail Product Office, Federal Reserve Bank of Atlanta
  • Natalie Diana, senior counsel, Bureau of the Fiscal Service, Department of the Treasury
  • Carlos Fuentes, vice president of strategy and architecture, Wholesale Product Office, Federal Reserve Bank of New York
  • Adriana Guaderrama, vice president, ACH product manager, First Century Bank
  • Chris Guard, vice president, e-services compliance and fraud, State Employees' Credit Union of North Carolina
  • Cheryl Gurz, vice president, Citizens Bank
  • Michael Herd, senior vice president, ACH network administration, NACHA – The Electronic Payments Association
  • Rakesh Korpal, executive director, JPMorgan Chase
  • Lee Kyriacou, vice president, real-time payments, The Clearing House
  • Danny Luong, director, fraud technology, PricewaterhouseCoopers
  • Roy Olsen, executive vice president/cashier and human resources director, American National Bank & Trust
  • Carla Palma, senior director, global treasury operations, PepsiCo
  • Al Pascual, senior vice president, research and head of fraud and security, Javelin Strategy & Research
  • Rene Perez, director, product management, Jack Henry & Associates
  • Kim Plaugher, assistant vice president, funds services, Navy Federal Credit Union
  • Sergio Rodriguera Jr., manager, government fintech, SAS
  • Kathy Stokes, director, fraud prevention programs, AARP
  • Eric Tran-Le, vice president, product management, Guardian Analytics 

The Federal Reserve also has established the Fraud Definitions Community Interest Group for individuals who are interested in providing input and following the efforts of the work group.