Monthly Archives: June 2024


Three Opportunities to Safeguard the Financial System

June 20, 2024 by Nasdaq Verafin

Protecting the global financial system against financial crime is a collective responsibility, and financial institutions need to be armed with the best resources possible to respond to the pervasiveness of this problem. Financial crime is not bound by borders –... 


Nine Red Flags on Terrorist Financing from FinCEN’s New Advisory

June 18, 2024 by Nasdaq Verafin

The financing of terrorist activity threatens the integrity of the global financial system. With $11.5 billion in terrorist financing flowing through the worldwide economic system in 2023, this heinous crime is exceedingly lucrative. “Terrorism threatens the safety and security of... 


FinCEN’s Financial Trend Analysis

June 13, 2024 by Nasdaq Verafin

In April 2024, the Financial Crimes Enforcement Network (FinCEN) released a Financial Trend Analysis (FTA) providing insights on threat patterns and trend information on Elder Financial Exploitation (EFE) incidents, as well as methods favoured by criminals to evade detection. The... 


Applying AI to Fight Crime

June 6, 2024 by Rob Norris

Artificial intelligence (AI) is among today’s hottest topics, but as Generative AI (GenAI) garners much of the mainstream attention, the term AI has become increasingly ubiquitous — and ambiguous in its meaning. For banks’ anti-financial crime efforts, understanding the breadth... 


Elder Financial Exploitation

June 4, 2024 by Nasdaq Verafin

In a recent FinCEN analysis, Elder Financial Exploitation: Threat Pattern and Trend Information, June 2022 to June 2023, two predominant categories of victimization were identified across Elder Financial Exploitation (EFE)-related BSA filings. Elder scams, where the victim does not know...