Demo

May 24 at 12:30 PM - 01:30 PM EST

Advanced BSA/AML Compliance & Multi-Channel Fraud Detection

Financial institutions and investigators face enormous pressure to comply with growing regulatory requirements, prevent losses from fraud, and uncover illicit activity in an increasingly complex financial crime landscape.

Verafin’s cloud-based FRAMLx software uses advanced behavior-based analysis across multiple channels to detect suspicious and fraudulent activity, automates daily tasks and processes, and provides the tools and technology you need to effectively fight crime.

Join Brendan Brothers on May 24 as he provides an overview of Verafin’s suite of crime-fighting solutions including the FRAMLxchange 314(b) information sharing network, and discusses the benefits of FRAMLx to detect, investigate and report fraudulent and suspicious activity.

This demonstration will highlight Verafin’s crime-fighting solutions, including:

  • End-to-end BSA compliance and process automation including regulatory reporting for SARs and CTRs, OFAC/Watchlist scanning, Case Management, Enterprise Reporting, etc.
  • Risk-rated BSA/AML alerts and scenarios including monitoring for flow of funds, structuring, international activity, terrorist financing, human trafficking and funnel accounts.
  • Multi-channel fraud detection including alerts for first-party deposit fraud, deposit fraud scams, account takeover, wire & ACH fraud, debit card fraud, and loan fraud.
  • Integrated CDD/EDD and high-risk customer management including a Customers Due Diligence Questionnaire, stratified risk-models for high-risk customers and automated risk-reviews.
  • FRAMLx cross-institutional detection and 314(b) information sharing including Risky Entity Analysis, and facilitating collaboration with investigators at any 314(b)-registered institutions.

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Verafin is proud to be endorsed by 45 state associations, including our newest endorsed partnership with the Texas Bankers Association.

Verafin is the exclusive provider for the California Bankers Association, Florida Bankers Association, Illinois Bankers Association, Massachusetts Bankers Association, Texas Bankers Association, and a preferred service provider of the Independent Community Bankers of America.

Tagged as...

  •   314(b) Information Sharing
  •   BSA/AML
  •   Collaboration
  •   FRAMLx
  •   Fraud
  •   Money Laundering

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