Feature SheetCOVID-19-Related SBA Loan Fraud DetectionU.S. Small Business Administration (SBA) loans have become prime targets for criminals eager to profit from the massive Coronavirus Aid, Relief, and Economic Security (CARES) Act. With millions of dollars... |
Feature SheetCOVID-19-Related Unemployment Benefit Fraud DetectionThe 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 accelerated volumes of applications, criminals... |
Feature SheetCOVID-19-Related Stolen Stimulus Payment DetectionThe Coronavirus Aid, Relief, and Economic Security (CARES) Act is the largest economic stimulus package in U.S. history — and a potential windfall for criminals seeking to intercept and reroute... |
Feature SheetCOVID-19-Related Wire Fraud DetectionWire 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 more. Financial institutions must vigilantly... |
Feature SheetRegulatory ReportingFederal law requires Canadian financial institutions to report suspicious transactions, and certain electronic funds transfers and large cash transactions to FINTRAC. Investigating, compiling and submitting these transactions is a time-consuming... |
Feature SheetCheck Fraud & Check KitingEven 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 check schemes are a serious... |
Feature SheetAccount FraudFrom 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 of fraud on customer accounts... |
Feature SheetFinancial Crime Case ManagementVerafin’s Financial Crime Management platform includes Fraud Detection, BSA/AML Compliance, High-Risk Customer Management and Secure 314(b) Information Sharing solutions. Our integrated Case Management functionality allows you to create a case... |
Feature SheetHigh-Risk Customer SegmentationAre 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 (NRAs), Money Services Businesses (MSBs),... |
Feature SheetEnhanced Due DiligenceInstitutions 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 result of generic risk models,... |
