Cloud Insights

Cloud Insights Benchmarking Reports provide unparalleled perspective into financial crime with trends gathered from the Verafin Cloud, comprising $4.5T in collective assets from 2400 financial institutions.

Our Latest Insights,
Conveniently Summarized

Emerging Trends

Uncovered in the Verafin Cloud, the total value of wire fraud attempts in Q4 2022 totalled $118M, with scams focused on vulnerable demographics and professional services.

Marking Millennials:

The New Generation of Scam Targets

The mean value of attempted wire fraud for those under 55 saw a 46% increase from Q4 2021 to Q4 2022, with the median value also increasing 44% during this period.

Real Estate under Risk:

The Cost of Buying May be More Than You Think

Compared to Q4 2021, attempted wire fraud value grew 205% for the Real Estate industry in Q4 2022.

The Cost of Doing Business:

Hong Kong Leads by Occurrence and Value

The median value of an international wire fraud attempt was $17.3K, a significant increase of 34% from Q4 2021 to Q4 2022.

Uncovered in the Verafin Cloud, the total value of wire fraud attempts in Q4 2022 totalled $118M, with scams focused on vulnerable demographics and professional services.

Marking Millennials:

The New Generation of Scam Targets

The mean value of attempted wire fraud for those under 55 saw a 46% increase from Q4 2021 to Q4 2022, with the median value also increasing 44% during this period.

Real Estate under Risk:

The Cost of Buying May be More Than You Think

Compared to Q4 2021, attempted wire fraud value grew 205% for the Real Estate industry in Q4 2022.

The Cost of Doing Business:

Hong Kong Leads by Occurrence and Value

The median value of an international wire fraud attempt was $17.3K, a significant increase of 34% from Q4 2021 to Q4 2022.

Cloud Insights Resource Center

Power of the Verafin Cloud

over

1.1 Billion

transactions analyzed each week

31 Million

unique payee accounts with

530,000

new accounts added each month

$4.5 Trillion

in collective assets

over

185 Million

wires with

4 Million

added each month

Effective Prevention with Verafin

verafin-wire-fraud-stats-2
Detects 90% of wire fraud by value.
verafin-wire-fraud-stats-3
75% reduction in false positives.

Stay Connected on the Latest Fraud Trends

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Subscribe now and be the first to get an unparalleled perspective on wire fraud trends across the industry with Verafin’s Quarterly Cloud Insights Benchmarking Reports.

Stay Connected on the Latest Fraud Trends

verafin-cloud-insights-subscribe-email

Cloud Insights

Subscribe now and be the first to get an unparalleled perspective on wire fraud trends across the industry with Verafin’s Quarterly Cloud Insights Benchmarking Reports.

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