BlogLaw enforcement benefits from information sharingSeptember 23, 2016 by Nasdaq Verafin The value of the information that financial institutions (FIs) provide to law enforcement is immeasurable. In May 2016 FinCEN held a ceremony at the U.S. Department of the Treasury to present its second annual Law Enforcement Awards. In its press... |
BlogU.S. Bank Account Information Sold on Dark Web MarketplaceAugust 25, 2016 by Denise Hutchings See our new blogs on this topic: Identity Exploitation Is Your Information for Sale on the Dark Web? Dark Web: Inside the Internet’s Underworld A recent online post under the “Fraud” category of a Dark Web marketplace read as follows:... |
BlogThe CDD Final Rule: Seven Things to RememberJuly 7, 2016 by Nasdaq Verafin Until now, the lack of any general requirement for financial institutions (FIs) to know and verify the identity of the beneficial owners of their entity customers created the opportunity for criminal exploitation of the banking system through anonymous access. This... |
BlogEMV Transition: Get Ahead of the ATM Liability ShiftJuly 6, 2016 by Nasdaq Verafin With the transition to EMV firmly underway in the United States, we thought it would be a good time to discuss progress and the potential impact to your card fraud programs. Liability Shift As of October 2015, Liability Shift (LS)... |
Blog314(b) Information Sharing Practices Should Adapt the Four COCs of a Fusion CenterMay 23, 2016 by Denise Hutchings “A Fusion Center is an effective and efficient mechanism to exchange information and intelligence, maximize resources, streamline operations, and improve the ability to fight crime and terrorism by analyzing data from a variety of sources.” (Source: U.S. DOJ Global Justice... |
BlogThree Technological Landmarks in the Fight Against Financial CrimeMay 20, 2016 by Nasdaq Verafin If there’s such a thing as a sure bet, it’s that criminals will always adapt and find a way to grow their bottom line. And that’s why, in the world of financial crime technology, stagnation is fatal. A lack of... |
BlogThousands of Human Trafficking Arrests in the U.S. Plus Recent Money Flow to Human Smuggling HubsApril 5, 2016 by Denise Hutchings “Human trafficking is not a problem that law enforcement can tackle alone. It requires the close collaboration with many concerned groups looking at this crime through different lenses.” (Manhattan District Attorney Cyrus Vance Jr.) Manhattan District Attorney Cyrus Vance advocates... |
BlogFinancial Fraud Charges in ISIS-Related Arrests in the USFebruary 8, 2016 by Denise Hutchings Yesterday the House Homeland Security Committee reported that law enforcement authorities have arrested 81 individuals in ISIS-related cases in the United States since 2014 – 62 in 2015 alone. The cases include individuals plotting attacks; attempting to travel to join... |
BlogIt’s Tax Fraud SeasonJanuary 21, 2016 by Brendan Brothers With the holiday season behind us and the new year underway, it’s time to prepare for a brand new season—the 2016 tax filing season. Over the next few months, fraudsters will exploit the personal information of thousands of U.S. taxpayers... |
BlogA Court Case to Illustrate that Card Fraud Funded TerrorismNovember 30, 2015 by Denise Hutchings Financial Institutions Undeniably Have a Role to Play in the Fight Against Terrorist Financing I recently studied several court cases that involved loan fraud and/or card fraud to fund terrorism. Details in one particular indictment which was unsealed less than... |
