Trust & Safety Solutions
There’s anticipating risk, then there’s adapting to it. We do both. We help protect clients at every stage of the commerce lifecycle, using our global expertise to build solutions at the forefront of emerging technology and innovation.
We help protect clients at every stage of the commerce lifecycle, using our global expertise to build solutions at the forefront of emerging technology and innovation.
[00:00:00.00] [MUSIC PLAYING]
[00:00:00.35] Who do you trust? Who can you trust?
[00:00:04.70] Fraud and financial crime is a
constantly-changing problem with a 70% increase in fraudulent mobile
transactions last year, and global online payment fraud growing by 20% year
[00:00:18.26] Who gives you advanced fraud prevention at
your fingertips? Trust JPMorgan to keep your company out of the headlines.
[00:00:24.95] We are the most innovative bank for fraud and
risk prevention, and the number one provider in best overall service,
processing over 5,000 payments every second with 99.99% accuracy. Give your
customers seamless, secure service with a simple dashboard and the ability to
tailor your payment controls. It's easy to investigate suspicious payments and
get tools to help meet regulatory requirements during turbulent geopolitical
[00:00:53.21] Let us help you increase automation and speed
with options like account validation services that could boost your payment
efficiency by 30%, reduce requests for information during a transaction
lifecycle, reduce manual processes and your overhead, and even rescreened
stored beneficiaries and request information prior to your next payment. All
adding up to the simple, secure experience you need.
[00:01:18.45] We make it easy to import and validate using
templates with commonly-requested data, organizing your screening results into
easy-to-read reports. Enjoy simple, safe frictionless payments for all your
payment types, and reduce your sanctions screening alert hit rates by 40%. Move
seamlessly through robust tools that make it easy to protect against fraud,
giving you peace of mind that your payments will reach their destination
[00:01:45.93] By leveraging AI and machine learning to
analyze, predict, and mitigate fraud patterns, we can also help you stop
millions in attempted fraud and increase your customer payment approval rates
by 15%. Let our comprehensive service simplify your payment experience,
increase straight through processing, and help reduce fraud and errors for
today's needs and future ones like blockchain and mobility. Trust and safety
with JPMorgan payments, empowering your business to thrive.
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[00:02:18.27] Text, J.P.Morgan Payments. A QR code appears.
Did you know that your email is the number one threat factor inside your organization?
Business email compromise schemes, better known as B-E-C, are one of the most financially damagingcrimes to organizations. In 2020, 76 percent of organizations reported that they had experienced B-E-C fraud and criminals are escalating attacksagainst businesses like yours.
Here’s how criminals carry out B-E-C schemes:
First, they pick a target after conducting research. Criminals use search engines, your corporate website, even checking your social media accounts such as your LinkedIn profile to find personal and employment information.
They're looking for someone with payment access such as a treasury or accounting employee or someone who can direct a payment to be made such as a senior executive.
Once a victim has been identified, it’s time for the criminals to go “phishing”. They send a phishing email that looks authentic, but is fake. There may be anattachment in the email or there may be a link asking for the user to click for more information.
Clicking on that link or opening an attachment could compromise your email account or your computer. And all of this happens without your knowledge. Criminals now set the rules.
They can create inbox email forwarding rules so when keywords such as payment, wire, or invoice appear, the email is automatically directed to an external account controlled by the criminals.
They can also conceal emails from the user. But would you know how to spot the signs of a potential B-E-C scheme?Let’s see if you can spot the signs.
This email that appears to be a standard request from a trusted vendor asking for a change in banking instructions.
But let’s take a closer look.
First, the email is coming from a lookalike domain that is crafted to deceive the user. The real domain name has two “t's” in it, but the criminal registered a domain with just one “t” to trick the reader into thinking it came from the correct domain.
Second, a criminal may say the valid account can not be used anymore for a specific reason. Other warning signs include: A sense of urgency. You must act quickly or something will happen.
If the criminals are impersonating one of your executives, they may ask for a wire transfer immediately.
Asking for a payment to an overseas destination such as Hong Kong.
Does it make sense for your vendor to ask for an invoice payment to be made to an overseas bank account?
When you receive a request for payment, change in payment instructions, ora change in contact information, you need to validate the request before acting on it. Perform a callback to the actual person making the request directly before sending any payments. Look up the number for the requestor in your internal system of record and pick up the phone.Never use a phone number from an email to validate a payment. Confirmation with the actual requestor can stop a B-E-C scheme and protect your organization from a potentially devastating fraud loss.
If your bank calls about an unusual payment, treat the call seriously.
Confirm you've followed your internal controls including a callback. This may be your last opportunity to stop fraud!
But what should you do if you are impacted by a B-E-C scheme?
It is important to act quickly. Contact us immediately if you suspect you are the victim of a B-E-C scheme. You should file a report at the FBI’s Internet Crime Complaint Center at IC3.gov, contact your local FBI office and your local law enforcement agency to report the crime. In some cases, law enforcement can assist with the recovery of funds.
We have created a B-E-C toolkit for executives and payments employees to help keep your organization safe.Contact your relationship team for information.
Validate your accounts and boost your defense proactively for all your end-to-end payments
Reduce friction associated with transaction reviews to enhance the client experience.
Fraud controls to help protect your business, globally.
Certain products and solutions are exclusively offered to particular business or commercial clients. Please be advised to consult with your banker to verify their availability. Additionally, it should be noted that new products are scheduled for launch and eligibility criteria may apply.
We process nearly $10 trillion in global payments every day across 160 countries and 120 currencies7. Through this experience, we can help to enhance trust and safety across all of your treasury payments.
Revolutionize your development process with our API-first infrastructure solutions designed to alleviate concerns about misdirected payments and streamline workflows.
Prioritize any industry-specific needs. For instance, help protect sensitive healthcare data, navigate legacy systems in the public sector, or develop solutions for emerging payments-related tech in e-commerce
Hear about how we provide a secure, seamless, end-to-end commerce experience for the clients we work with.
Optimizing subscription payment acceptance for web-hosting
Through lending, investment and philanthropic capital, we’re supporting affordable housing and helping the underserved communities of today become flourishing communities tomorrow.
We offered a digital payment solution that included optimizations around mitigating payments fraud while maximizing transaction approval rates.
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Business Email Compromise
Business email compromise (BEC) is a sophisticated scheme used by organized cybercrime groups. The aim is to trick your employees into sending fraudulent payments by impersonating your executives, business partners or vendors—and it’s a pervasive problem.
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Internal monitoring and reporting for the previous year 2023
J.P. Morgan Internal Data, April 2022
JPMC proprietary data 2022