 | About Nasdaq Verafin Nasdaq Verafin provides Fraud Detection and Management, AML/CFT Compliance and Management, High-Risk Customer Management, Sanctions Screening and Management, and Information Sharing solutions. |
BlogIdentity ExploitationJanuary 31, 2024 by Nasdaq Verafin Bad actors are increasingly turning to identity exploitation, gaining access to personally identifiable information (PII) in record amounts to drive money laundering, fraud, and cybercrime. A recent Financial Trend Analysis from FinCEN has illustrated how criminals are exploiting a variety... |
BlogA Broken Promise: Forced Labor TraffickingJanuary 15, 2024 by Nasdaq Verafin Everyone wants the opportunity for a better life. However, some people are limited by conditions beyond their control – from ongoing conflict to economic uncertainty – making them vulnerable to exploitation. According to the U.S. Department of State, approximately 21.2... |
BlogStolen Lives – International Sex TraffickingJanuary 10, 2024 by Nasdaq Verafin Human trafficking is financially motivated. Described as a “crime that involves other crimes,” human trafficking is typically connected to illicit money flow, corruption, document fraud, trafficking in illicit goods, cybercrime and terrorism. Sexual exploitation remains the most common motive for... |
BlogHidden in Plain Sight: Domestic Sex TraffickingJanuary 3, 2024 by Nasdaq Verafin Human trafficking can occur anywhere – the reality of domestic sex trafficking is that it is closer than you think. Victims of domestic sex trafficking are individuals targeted within their own neighborhoods, cities, towns, or country. While numbers are massively... |
BlogBig Data Reveals $26M Surge in Business FraudNovember 27, 2023 by Nasdaq Verafin In the eyes of a criminal, fraud is just a money game. But for the countless American businesses targeted each year by bad actors and Business Email Compromise (BEC) scams, the impact is far greater, from lost livelihoods to reputational... |
BlogThe Importance of Information Sharing to Combat Terrorist FinancingNovember 21, 2023 by Nasdaq Verafin Criminal networks are vast and highly efficient – they are not constrained by borders or technology when plotting and financing terrorist activities. As recently highlighted in FinCEN’s alert on red flags to identify terrorist financing, financial institutions must be vigilant... |
Blog7 New FinCEN Red Flags to Identify Terrorist FinancingNovember 17, 2023 by Nasdaq Verafin World events can shift in a moment. Financial institutions need to be prepared to adapt to the constantly evolving landscape of regulatory compliance, while swiftly identifying potentially suspicious activity. To assist, FinCEN has issued a new alert with 7 red... |
BlogStalking America’s ElderlyOctober 18, 2023 by Nasdaq Verafin Fraudsters are targeting seniors with an emerging and sophisticated scam. From January to June, $542M was stolen through Phantom Hacker scams — a fraud that uses layers of social engineering to exploit a victim’s trust and pinpoint the most lucrative... |
BlogAI & Large Language Models: Great Power Requires Greater ResponsibilityOctober 11, 2023 by Nasdaq Verafin “Artificial intelligence is one of the most powerful technologies of our time, with broad applications. President Biden has been clear that in order to seize the opportunities artificial intelligence presents, we must first manage its risks.” The White House, 2023 ... |
BlogA Ruthless ScamSeptember 26, 2023 by Nasdaq Verafin A prominent virtual currency investment scam, with the demeaning label “pig butchering,” is creating significant financial and emotional harm for countless victims around the world – criminals defrauded victims of more than $2 billion USD in 2022. Known as financial... |
