August 09 at 12:30 PM - 01:30 PM EST

Detecting & Reporting Loan Fraud

Uncovering Risky Loans Before Charge-Offs Occur

Securing loans with no intention of repayment is one way in which criminals and criminal organizations generate illicit funds. These bad actors often repeat their fraud over and over at multiple institutions, amassing huge profits before eventually defaulting — leading to loans being charged-off.

This criminal fundraising means that suspicious activity can be hiding in the silos between lending, collections, fraud and compliance teams — suspicious activity that is unreported, and could be linked to more complex criminal networks.

Join us on August 9, as product experts demonstrate how Verafin not only detects suspicious loan charge-offs — but also proactively alerts you to loans at risk of defaulting before being charged-off.

Highlights of this product demonstration will include:

  • Discussion on best practices for investigations, and how to meet regulatory requirements for SAR filing on suspicious charge-offs.
  • Demonstration of loan fraud analysis that alerts you to loans at risk of defaulting, and potential suspicious activity in your charged-off loans.
  • Overview of cross-institutional risky entity analysis, to alert you to the risk of potential loan fraudsters repeating crimes at multiple institutions.

Tagged as...

  •   BSA/AML Compliance
  •   Fraud
  •   Loan Fraud
  •   SARs

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