The Fraud Playbook: Lessons from Law Enforcement for Treasury (Conduit Security)

In this episode, Craig Jeffery and Ryan Castle of Conduit Security examine how sophisticated wire fraud schemes exploit legitimate payment processes. Drawing on real-world cases and Ryan's former FBI experience, they discuss compromised email accounts, altered payment instructions, deepfakes, money mules, and the pressure criminals use to bypass otherwise sound controls. They also explore treasury's role as the superintendent of payments and the incident-response playbook organizations should prepare before a loss occurs. For more from Conduit Security, watch their participation in Strategic Treasurer's Fintech Hotseat Head-2-Head: Compliance.

Payment Security Report

FBI Internet Crime Complaint Center (IC3)

Conduit Security

Timestamps:

00:00 Introduction

01:00 Compromised closing payment

05:23 Fraudulent vendor verification

08:23 The criminal fraud playbook

13:00 How money mules move funds

16:58 About Ryan Castle and Conduit Security

18:54 Treasury's exposure and controls