Criminal organizations use a variety of tactics, including funnel accounts, to mask the flow of funds from illicit activities such as Human Trafficking, Human Smuggling and Drug Trafficking. Funnel accounts used to launder money exploit branch networks of financial institutions, and often go undetected as criminals keep transaction amounts under AML reporting requirements.
Join Verafin product experts on May 31, as we take demonstrate Verafin’s behavior-based AML analytics to uncover potential funnel account activity, and tools to enhance your money laundering investigations.
Highlights of this software demonstration will include:
- Red flag indicators of funnel accounts
- Risk-rated AML alerts and scenarios including monitoring for money laundering, structuring, international activity, human trafficking, terrorist financing and more.
- Detection analytics for funnel accounts, including red flag evidence and tools to help investigate and report funnel account activity.
- Smart evidence and investigation tools to help you quickly evaluate and assess evidence including geographic locations, velocity of transactions, balances, and more.
- 314(b) information sharing tools to help you connect with investigators at other 3114(b) registered institutions to get a complete picture of potential funnel account activity.