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Category: Industry Commentary

Financial industry research and analysis to help you understand key trends and issues facing financial institutions.

Blog

Check Fraud: Placing the Back of a Check Front and Center

May 8, 2025 by Nasdaq Verafin

In 2023, $21 billion, or 80%, of global check fraud took place in the Americas, primarily the U.S. As fraud scenarios such as counterfeit, washed and altered checks grow increasingly prevalent, financial institutions need to identify and implement innovative solutions... 

Blog

New Measures Strengthen Canada’s AML/ATF Regime

April 2, 2025 by Nasdaq Verafin

“The Government of Canada is committed to maintaining a strong Anti-Money Laundering and Anti-Terrorist Financing framework that maintains the integrity of Canada’s financial system. These amendments will ensure that we remain effective and nimble in combatting financial crime and block... 

Blog

Preventing Payments Fraud

July 24, 2024 by Colin Parsons

In 2023, losses from payments fraud scams totaled $485.6B worldwide. With a perfect scenario of high-value transactions combined with a narrow window of opportunity for institutions to intervene, payments fraud scams will only continue to challenge financial institutions unless our... 

Blog

Industry Insights: Addressing Anti-Financial Crime Challenges

May 22, 2024 by Nasdaq Verafin

In today’s financial industry, the fight against financial crime looms large. Financial institutions are contending with a global $3.1 trillion financial crime problem, charged with safeguarding the integrity of the financial system in a landscape fraught with costs, complexities, and... 

Blog

ACH Fraud: NACHA Promotes Detection Across Transactions

April 23, 2024 by Nasdaq Verafin

Last year, NACHA’s ACH Network saw its eleventh straight year of growth exceeding $1 trillion as demand from consumers for electronic payments increased — and fraudsters are following the money. As Business Email Compromise (BEC) and other authorized push payment... 

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Beyond Alerts: Lessons from the Case of a BEC Mastermind

April 17, 2024 by Nasdaq Verafin

Business Email Compromise (BEC) is among the greatest threats to our financial system, linked to $6.7 billion in losses globally and over 20,000 complaints to the FBI last year. Beyond alerts and compliance documents, financial professionals are the bedrock protecting... 

Blog

Combating Complex Check Fraud

April 12, 2024 by Colin Parsons

Check fraud is often viewed as an outdated crime — but these scams are in fact becoming highly sophisticated and causing significant losses. In 2023, there was $21B in check fraud losses in the Americas, representing nearly 80% of total... 

Blog

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... 

Blog

AI & Large Language Models: Great Power Requires Greater Responsibility

October 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 ... 

Blog

The Faster Payments Era: New Channels & Expectations

July 27, 2023 by Nasdaq Verafin

“The shift to real-time payment infrastructure requires a focused effort, but the shift is inevitable. The time is now for all key stakeholders—financial institutions, core service providers, software companies, and application developers—to devote the resources necessary to support instant payments.”...