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Business Email Compromise: A Global Menace

March 14, 2024 by Nasdaq Verafin

First identified in the early 2010s by the FBI as a financial cyber threat, Business Email Compromise (BEC) has evolved into a global menace to the integrity of our financial system. Nasdaq’s 2024 Global Financial Crime Report attributed $10 billion... 

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Romance Scams: 6 Questions to Save Lives & Livelihoods

March 6, 2024 by Colin Parsons

“People lose their homes, their security, everything. They have already lost their friends, their family, and ultimately some are losing their lives. We don’t want that to happen. As a professional, would it be better for you to question their... 

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Increased Use of Virtual Currency in Human Trafficking

March 5, 2024 by Nasdaq Verafin

Criminals will exploit the most vulnerable in society for significant financial gain. According to Nasdaq’s Global Financial Crime Report, in 2023, $346.7B of illicit funds was linked to human trafficking activity – although this number is likely only a fraction... 

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Elder Fraud: Prevalent & Preventable

March 4, 2024 by Nasdaq Verafin

Elder fraud is unquestionably reprehensible, but its prevalence is remarkably high. An estimated ​1 in 10 elderly Americans are abused each year, and in Nasdaq’s 2024 Global Financial Crime Report, $77.7 billion of all reported global fraud was linked to elderly victims.... 

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Is your Information for Sale on the Dark Web?

February 26, 2024 by Nasdaq Verafin

“The “dark web” is an internet shadow world where the good and the bad co-exist… On the bad side, the dark web has emerged as an important hub of criminal commerce, a fully functional marketplace where hidden customers can buy... 

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Romance Scams: A Heartless Reality

February 26, 2024 by Nasdaq Verafin

Through lies and deceit, fraudsters will wholly dedicate themselves to gaining a victim’s trust and then abuse it for financial gain. Romance scams epitomize this tactic. Among the world’s fastest growing frauds, romance scams and other confidence schemes caused $3.8... 

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Turning the Tide: Expert Insights on $3.1T in Financial Crime

February 23, 2024 by Nasdaq Verafin

Focusing on striking revelations from the recently released Nasdaq 2024 Global Financial Crime Report, Verafin hosted an expert panel presentation on the implications of over $3.1 trillion in illicit money that flowed through the financial system in 2023.  This special... 

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Relationship Fraud: The Truth Behind a Devastating Crime

February 12, 2024 by Debby Montgomery Johnson

Photo: Debby Montgomery Johnson, Fraud Awareness & Victim Support Advocate Relationship fraud and other confidence schemes exploit people in their most vulnerable moments. Motivated by greed and perpetrated through deceit, the truth is that these scams deeply affect victims and... 

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A $3.1 Trillion Financial Crime Epidemic

February 5, 2024 by Nasdaq Verafin

Historically, quantifying the scale of financial crime has been a major challenge. In a new 2024 Global Financial Crime Report, Nasdaq and Verafin have brought together expert research and data, industry perspectives, and the voices of survivors to provide insights... 

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Identity Exploitation

January 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...