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Monthly Archives: June 2022

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  Blog

Cryptocurrency Fraud Scams Amass Over $1B

June 27, 2022 by Verafin

According to a sobering new report by the Federal Trade Commission, since the start of 2021 more than 46,000 people have collectively reported more than $1 billion in losses to crypto-related scams, with an average loss of $2,600 per person.... 

  Blog

Aligning with AML/CFT Priorities

June 14, 2022 by Verafin

The need for greater effectiveness and efficiency in BSA/AML programs is acute. Financial institutions must navigate the ever-changing landscape of regulatory compliance while simultaneously adapting to evolving criminal activity. But many institutions are limited to their own siloed data set... 

  Blog

Keeping Pace with the Changing AML/CFT Landscape: Virtual Currency Payment Risks

June 8, 2022 by Verafin

The use of Convertible Virtual Currency (CVC) is increasing, offering an alternative transaction channel for consumers and a new transaction channel for criminals to exploit. Virtual currency activity is relevant to all financial institutions, even those that do not offer... 

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