Scam Solutions: Disrupting the Economics of Scamming
Banking expert Donna Turner shares her perspective on the role of financial services in the fight against the scam industry.
Episode 39: Erin West speaks with former bank executive and fraud leader Donna Turner about the hard truths behind scam prevention — including why banks can’t solve this alone, how outdated rules are protecting criminals, and what regulators, fintech, telecom, and social platforms need to do next.
What if we could actually slow the global scam epidemic? This is a candid conversation about incentives, liability, human behavior, and why small, imperfect steps today beat perfect solutions that never arrive.
They discuss the need to measure the scale of the problem, the role of financial institutions in preventing scams, and the potential to learn from international examples. Ultimately, they emphasize the urgency of taking action to disrupt scam operations and protect consumers.
Watch this episode to hear real talk about data sharing, safe harbor, banking, and why small steps today beat big promises tomorrow. Scammers adapt fast. We need to move faster.
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Who Is Donna Turner?
Donna Turner is an industry advisor, thought leader, and practitioner with more than 30 years of experience in the areas of Payments, Fraud Risk Management and Operational Excellence. As the Chief Operations Officer for Early Warning Services, the operator of the Zelle Network, she was recognized as one of the “Most Influential Women in Payments” (2018) following the build and launch of the Zelle network. She holds two patents in the field of Fraud Risk Management.
She has led large-scale operational functions, managed the debit card business, and spent a decade helping to build out and lead an Enterprise Fraud Risk Center of Excellence.
Understanding payments, fraud risk, and servicing from concept to a fully scaled, repeatable, and sustainable operating model is her strength, while sharing her knowledge to help others achieve success is her passion.
Episode Chapters
00:00 Introduction to Banking Challenges and Solutions
08:37 Data Sharing and the 314 B Discussion
15:21 Understanding the Scope of Fraud and Scams
20:27 The Role of Tellers in Preventing Fraud
23:51 Business Case for Addressing Scams
25:34 The Financial 9/11 Analogy
26:21 The Importance of Measurement in Combating Fraud
28:04 Regulatory Challenges Across Sectors
30:37 Strategies for Educating the Public on Scams
33:09 The Human Element in Fraud Defense
35:47 International Perspectives on Fraud Prevention
38:26 The Need for Data Sharing
40:47 Finding Hope in Ongoing Conversations
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Sponsors of Stolen
BioCatch prevents financial crime by recognizing patterns in human behavior, continuously collecting 3,000 anonymized data points – keystroke and mouse activity, touch screen behavior, physical device attributes, and more – as people interact with their digital banking platforms. With these inputs, BioCatch's models reveal patterns that distinguish the criminal from the legitimate.
Scamnetic is a leader in AI-powered scam detection and prevention, protecting individuals, businesses, and financial institutions from digital scams. With solutions like KnowScam and IDeveryone, Scamnetic delivers real-time scam insights, identity verification, and intervention. Restoring trust, reducing losses, and empowering organizations to safeguard customers in an increasingly complex digital world.
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