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Author Archives: Verafin

mmAbout Verafin

Verafin is an industry leading, cloud-based fraud detection and anti-money laundering software provider.

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  Blog

Inflection Points: 5 Key Trends for Payments Fraud

June 5, 2023 by Verafin

The financial industry has entered a period of significant challenge and opportunity in payments. With the increasing focus on frictionless customer experiences and introduction of new payment rails such as TCH RTP and FedNow, money is moving faster than ever... 

  Blog

The Rise of Cryptocurrency in Modern Slavery

April 19, 2023 by Verafin

“Digital assets may pose significant illicit finance risks, including money laundering, cybercrime and ransomware, narcotics and human trafficking, and terrorism and proliferation financing.”  –Department of State, Trafficking in Persons Crypto companies play a critical role in the fight against human... 

  Blog

Criminals Cash in on Stolen Checks: FinCEN Releases 10 Red Flags for Mail-Related Check Fraud

March 24, 2023 by Verafin

Mail-related check fraud is surging. In 2022, check fraud-related SARs filed to FinCEN reached over 680,000, almost doubling the previous year’s number of filings. In response to a nationwide surge of stolen check fraud schemes targeting the U.S. mail system,... 

  Blog

From the Cloud: Deep Insights into Wire Fraud Trends

March 15, 2023 by Verafin

Payment fraud is a challenge that is pervasive in the financial industry, and a threat to financial institutions of all sizes. As the talk of a liability shift for consumer-related payment fraud gains momentum within regulatory spheres, additional pressure is... 

  Blog

Scale to Prevail: Five Benefits of Proactively Scaling your Compliance Platform

March 7, 2023 by Verafin

Regulatory enforcement is rapidly evolving for crypto companies and manual processes are costing you more. As fines for compliance violations increase, staying ahead of regulatory requirements is a necessity for crypto companies, to avoid financial penalties and damage to your... 

  Blog

Big Lessons for Crypto Companies From Even Bigger AML Fines

March 6, 2023 by Verafin

For crypto companies, the immense challenge of navigating the  multitude of regulators, escalating number of fines, and evolving landscape of compliance is overwhelming. Crypto companies are facing increased pressure to remain compliant, while avoiding penalties and reputational damage. The Current... 

  Blog

Automating for Efficiency

February 2, 2023 by Verafin

The “crypto winter” has temporarily frozen many crypto company’s capabilities. As companies compensate for current challenges with budgetary reductions and increased layoffs, companies are continuously asking themselves how they can do less with more. Increased regulatory scrutiny and impending compliance... 

  Blog

Learning from the Past for a Lucrative Future

January 30, 2023 by Verafin

The landscape of financial crime is evolving – both for traditional financial institutions and crypto companies. As financial institutions advance anti-financial crime programs to maintain regulatory compliance and combat fraud, there are valuable lessons that crypto companies can use to... 

  Blog

Fraudsters Focusing on Higher Value Wire Scams

January 18, 2023 by Verafin

Payments fraud is an increasingly complex threat to financial institutions and consumers alike. As wire fraud attempts surge against individuals, especially for seniors, there is a growing debate surrounding mandatory victim reimbursements for Authorized Push Payment (APP) fraud. With a... 

  Blog

Anatomy of a Crypto Hack: Digital Funds, Real-World Consequences

December 16, 2022 by Verafin

While cryptocurrency exists in a digital space, criminals leveraging crypto can have a significant impact on the traditional financial industry. Tracking the flow of funds across blockchain to fiat is essential for finding the perpetrator of these crimes – and... 

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