SAIPAN — Bank of Guam welcomed more than 30 employees from businesses and government agencies across Palau to its first Fraud Prevention Workshop there, focused on helping organizations protect their finances, employees and communities.
Held August 14, the workshop covered emerging fraud risks and the strategies criminals use to target organizations, including impersonation schemes, fraudulent payment instructions, compromised email accounts and other cyber-enabled threats. Participants received practical guidance on recognizing warning signs, verifying requests before releasing funds, strengthening internal payment controls, reporting suspicious activity and responding quickly when potential fraud is identified.
The bank’s BSA/AML Investigations Managers traveled from Guam to lead the training, supported by the Palau Branch and regional leadership.
“Financial threats don’t stand still, and neither do we. Protecting our island communities starts with people who are informed, empowered, and never facing these challenges alone,” said Joaquin P.L.G. Cook, Bank of Guam President and CEO. “That’s why we’re bringing our fraud specialists straight to Palau, standing shoulder to shoulder with our local team and community partners to build the confidence, resilience, and financial security our communities deserve.”
The Palau session was the bank’s fourth Fraud Prevention Workshop in an ongoing community education initiative that has reached 150 participants across the public sector in Guam and the private and public sectors in Palau.
