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Monthly Archives: May 2022

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  Blog

Wire Fraud Insights: The Looming Threat of Business Email Compromise

May 24, 2022 by Verafin

Today’s payments ecosystem is rapidly evolving, driven by customer demand for greater speed and convenience, and the financial industry’s digital transformation. This change has also presented opportunities for financial crime — fraudsters are exploiting wire payments with Business Email Compromise... 

  Blog

Elder Financial Abuse: New Cloud Insights Show Major Surge

May 17, 2022 by Verafin

Wire fraudsters are uncompromising, often targeting seniors with cruel elder abuse tactics from romance and investment scams to grandparent schemes. Since our previous blog on elder financial abuse, surging inflation and rising interest rates have strained senior’s modest budgets, leaving... 

  Blog

Managing the Growing Complexities of Sanctions Risk

May 9, 2022 by Verafin

The Russian invasion of Ukraine and the subsequent escalation of the Russian-Ukrainian war has been met with condemnation and resulted in severe economic sanctions from governments across the globe. Sanctions are crucial to enforce foreign policy objectives and deter criminal... 

  Blog

Wire Fraud Benchmarking Highlights: Verafin Releases Trends from the Cloud

May 2, 2022 by Verafin

Wire fraud is evolving across the financial industry — and today, Business Email Compromise (BEC), targeted consumer scams, and the financial exploitation of elderly persons are of particular concern. With fraudsters circumventing the enhanced authentication controls of many digital platforms...