Association Update: New Fraud Summit in June to Address Evolving Threats
By Daryll Lund
Fraud in the financial services industry is constantly evolving, becoming more sophisticated and harder to detect. As fraud risks continue to grow, Wisconsin banks have made it clear that they need more tools, insights, and strategies to stay ahead. In response to these concerns, the Wisconsin Bankers Association (WBA) is introducing a new, one-day Fraud Summit on June 3, 2025, where banking professionals will gather to tackle fraud — one of the most pressing challenges in the industry. This one-day event will explore the latest fraud trends, emerging threats, and innovative strategies to protect financial institutions and their customers.
This event is the result of direct conversations with our members, who have shared their increasing challenges in protecting customers, accounts, and internal systems from fraud. Through this summit, bankers will hear from industry experts on emerging fraud trends, regulatory developments, and best practices for safeguarding their institutions.
WBA remains committed to providing meaningful education and resources that help banks navigate the complexities of today’s financial landscape. The WBA Fraud Summit is just one way we continue to respond to our member’s needs — ensuring Wisconsin banks have access to the latest knowledge and tools to combat fraud effectively.
Other support for members comes from Midwest Bankers Insurance Services (MBIS). MBIS provides assistance and full review of FI Bond and Cyber Liability applications to confirm and discuss internal controls to prevent fraud. MBIS VP of Sales, Jeff Otteson, recommends that banks work closely with their FI Bond and Cyber Liability broker to thoroughly understand the current vulnerabilities and how they can be eliminated with strong internal controls, best practices, and employee training.
More details on the Fraud Summit, including the agenda and speakers, will be shared with members soon. We look forward to offering this new opportunity to help banks stay ahead in the fight against fraud.
For help strengthening your fraud prevention efforts and assessing fraud risk contact Jeff Otteson, MBIS VP of Sales via email at jeffo@mbisllc.com or call 608.217.5219
Lund is WBA executive vice president – chief of staff and president of EBC and MBIS.
