It’s easy to see that the risk of identity theft and ACH fraud is high when you are opening over 10,000 online accounts every month.
It’s easy to see that the risk of identity theft and ACH fraud is high when you are opening over 10,000 online accounts every month.
2 PagesCase Study Michael Quigley, AVP, BSA/AML Risk Officer and leader of the investigative team at Radius Bank, has an interesting problem. Founded in 1987, Radius is a full-service, nationwide $1.4 Billion-in- assets bank headquartered in Boston, MA. Dedicated to providing its customers with leading-edge technology and with a small brick-and- mortar footprint (a corporate office, Financial Center, and a Customer Service Department; all located in Boston), online accounts are central to the bank’s growth — and that growth is impressive. Over the past year-and-a-half, Quigley estimates Radius has added new accounts at a rate of approximately 10,000 per month. On one hand, it represents exciting momentum for the bank; on the other, it poses a serious challenge for Quigley and his team of two
