SF ACFE FinTech Fraud Summit - March 17th, 2017 - San Francisco, CA
FinTech Overview and Emerging Trends

FinTech Trend
2017- PAGE 2
ONLINE LENDING
P2P INSURANCE
CROWDFUNDING
Financial Technology “FinTech” has seen an explosive growth for the past
decade. The digital revolution started with the advent of Automated Teller
Machine, ATM in 1967.
FinTech’s mission is to broaden access to credit, incase banking services and
provide investment opportunities to everyone around the world.
FinTech is rooted in disruption and disintermediation to about fundamental
changes in how we deliver financial services to the next billion people world
wide.

SPEAKER’S BIO
TIMOTHY LI
Tim is Founder & CEO of various FinTech platforms in the US & China
Timothy Li started his career as an mathematical engineer at Intel solving complex CPU manufacturing
issues. He then spent the following 5 years at JPMorgan Chase in their Retail and Small Business
Banking organization. He worked on most of Chase’s banking technology, credit risk and fraud detection
technology.
Tim continued his career with FinTech/Marketplace Lenders such as Elevate Credit where he managed all
of the lending portfolio performance from Marketing to Credit Risk Management.
Tim continued his online lending career and built LoanDepot’s Personal Lending Platform. Served as
Chief Information Officer for RealtyMogul and held various advisory roles at Kabbage, RocketLoans.
Served on Experian’s Fraud Advisory Board.
Tim holds engineering, mathematics and business degrees from San Jose State University, University of
Southern California and Harvard Business School.
2017- PAGE 2

FinTech Trend
2017- PAGE 2
ONLINE LENDING
P2P INSURANCE
CROWDFUNDING
• 1st Party Fraud - Intent to Pay
• 2nd Party Fraud - Publishers and Affiliates
• 3rd Party Fraud - Synthetic Identity, Fraud Rings
• Stacking - Customers willingly taken out multiple loans simultaneously
• ATO - Account Take Over
• Transactional Fraud (ACH, Debit)
• Internal / Employee Fraud
• AML - Anti-Money Laundering
ONLINE LENDING / BANKING
https://www.linkedin.com/pulse/3-common-identity-fraud-plagues-fintech-startups-how-avoid-timothy-li

FinTech Trend
2017- PAGE 2
ONLINE LENDING
P2P INSURANCE
CROWDFUNDING
• Accreditation attestation - Accredit Investors
• Suspicious Crowdfunding Campaigns - Still born/ Preempted Fraud (Shut Down by
Platforms)
• Attempt Fraud - Crowdfunding with Intellectual Properties that they didn’t own
• Backer-Creator Fraud - Money Laundering
CROWDFUNDING
https://www.crowdfundinsider.com/2014/03/34255-crowdfunding-fraud-big-threat/

FinTech Trend
2017- PAGE 2
ONLINE LENDING
P2P INSURANCE
CROWDFUNDING
• Moral hazard - lack of incentive to guard against risk
• Fraudulent claims
P2P INSURANCE
https://www.ft.com/content/c4bd7bcc-872f-11e6-a75a-0c4dce033ade

FinTech Trend
2017- PAGE 2
ONLINE LENDING
INSURANCE
CROWDFUNDING
MAKING FRAUD DETECTION + PREVENTION A PRIORITY