Meeting Notes on BAI Files, Data Conventions, and Financial Fraud Awareness

BAI File Issue

  • Suji sent a file for Kelly that appears to be a current day file instead of a prior day file.
  • The BAI (Bank Administration Institute) file is showing current day information.

Investigation and Confirmation

  • Cody is asked to confirm if the file is indeed a current day file.
  • The issue is that the field 0102 in the BAI file is pulling current day information when prior day data is required.
  • The current process just picks up whatever file is available, and Cody’s team would typically handle the correct file placement.

Resolution and Action Items

  • Cody will find someone to confirm the file issue and ensure the new request specifies a prior day file.
  • Once confirmed, Cody will send over a questionnaire.

BAI File Content and Conventions

  • Some BAI files sent out contain previous day’s data even when they are current day files.
  • A suggestion is made to include "PD" or "prior day" in the file naming convention to distinguish between prior day and current day files.
  • This will help in the future if the client requires current day files as well.

File Renaming

  • The file will be renamed to include "prior" to confirm it contains prior day data.
  • This ensures that future current day files can be distinguished by a different naming convention.

Questionnaire and Information Sheet

  • Cody will send a questionnaire or informational sheet that may need to be filled out.
  • Karim might need to help fill it out, especially if there are technical questions.

Assistance

  • If the questionnaire has any technical aspects, assistance is available.
  • If there are any issues with specific parts, Kareem can provide help.

Conclusion of Call

  • The call is concluded, and everyone will wait for Cody to send the questionnaire.
  • Thanks are given, and the meeting adjourns.

Financial Fraud Statistics

  • In the last year, one out of three Americans became victims of financial scams or fraud.

National Scam Survivor Day

  • National Scam Survivor Day highlights the severe impact of financial fraud on millions globally.

Protection Against Financial Fraud

  • Financial institutions have a responsibility to protect customers with comprehensive and modern identity verification and fraud prevention tools.

Sophistication of Financial Fraud

  • Financial fraud extends beyond stolen credentials to include synthetic identities, manipulated accounts, and third-party attacks that leverage AI.

Comprehensive Identity Verification

  • Financial institutions need a 360360 degree view of identity, from onboarding through the entire customer lifecycle.