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Monthly Archives: June 2018

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How financial institutions can help end elder financial exploitation

June 18, 2018 by Verafin

Elder financial exploitation (EFE) may be the crime of the 21st century. The available numbers paint a scary picture: one 2015 report indicated seniors are defrauded of nearly $36.5 Billion annually, over 12 times the amount previously reported. In August... 

  Blog

Key Takeaways from FFIEC Updated CDD Examination Procedures

June 12, 2018 by Verafin

On May 11, 2018, the FFIEC released new Customer Due Diligence (CDD) Examination procedures that reflect and codify the requirements of FinCEN’s final CDD rule. These updates detail how financial institutions must establish appropriate risk-based CDD procedures to understand the... 

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