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COVID-19-Related Unemployment Benefit Fraud Detection

The COVID-19 pandemic has caused an economic downturn and compelled millions of Americans to file for unemployment benefits. With claims systems strained by historic and... 

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COVID-19-Related Stolen Stimulus Payment Detection

The Coronavirus Aid, Relief, and Economic Security (CARES) Act is the largest economic stimulus package in U.S. history — and a potential windfall for criminals... 

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COVID-19-Related Wire Fraud Detection

Wire fraud, including Business Email Compromise (BEC), is a growing threat during the COVID-19 crisis as criminals exploit disrupted business processes, cloud-based email services and... 

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Regulatory Reporting

Federal law requires Canadian financial institutions to report suspicious transactions, and certain electronic funds transfers and large cash transactions to FINTRAC. Investigating, compiling and submitting... 

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Check Fraud & Check Kiting

Even with the rise in digital channels, criminals are still using stolen and counterfeit checks and kiting schemes to cause financial institutions extensive losses. In-clearing... 

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Account Fraud

From doctoring checks to exploiting your most vulnerable customers, criminals will stop at nothing to defraud your financial institution’s accounts for their gain. The threat... 

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High-Risk Customer Segmentation

Are you banking high-risk customers you don’t know about? Verafin can help you segment customers in high-risk categories, including Politically Exposed Persons (PEPs), Non-Resident Aliens... 

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Enhanced Due Diligence

Institutions are facing challenges in meeting requirements for conducting Enhanced Due Diligence (EDD) reviews of high-risk customers. Managing the volume of reviews created as a... 

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Risk Surveillance

Required ongoing surveillance of your high-risk customers can be a challenging, manual process, with unusual activity often uncovered through general AML transaction monitoring. By analyzing... 

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Risk Stratification

Typical risk systems use generic models that result in large volumes of high-risk customers. But not all high-risk customers are created equally. A local charity,...