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

Real-time Detection for Payments Fraud

Cross-Channel Analysis to Prevent Fraudulent Wire & ACH Transfers

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Faster funds result in faster fraud – as customers and institutions turn to payments channels such as wire, ACH and P2P solutions for their speed and convenience, opportunistic criminals are exploiting these channels with fraudulent schemes. With the ability to move illicit funds faster than ever, and damaging scams such as Business Email Compromise (BEC) on the rise, payments fraud is a significant threat for many financial institutions.

In this insightful demonstration, expert presenters will discuss the many payments fraud challenges facing financial institutions and innovative solutions to detect and prevent fraudulent transactions. Discover how Verafin’s Financial Crime Management platform leverages big data intelligence for real-time detection of wires and ACH payments, protecting your institution and customers from loss.

Highlights from this engaging product demonstration include:

  • Evolving Payments Fraud Trends. Learn the latest trends in payments fraud, including Business Email Compromise, third-party scams and first-party fraud through A2A/P2P systems, such as Zelle.
  • The Power of Big Data Intelligence. Verafin reduces false positives, increases payee confidence, and improves alert quality by analyzing billions of transactions weekly in the Cloud, assessing known payments into new and altered accounts, and customer demographics and history.
  • Holistic, Cross-Channel Fraud Analysis. Verafin assesses customer activity across multiple channels, with integrated Online Account Takeover, Wire, ACH, and P2P Fraud solutions for robust online anomaly detection.
  • Robust Wire Fraud Detection. Verafin’s advanced Wire Fraud solution includes real-time integrations to proactively detect unusual outgoing wire transfers — and incoming payments to potential money mules.
  • Advanced ACH Fraud Detection. With real-time integrations to uncover unusual WEB deposits/payments, business payments, and payroll diversion, Verafin protects both consumer and business accounts against ACH fraud.

Tagged as...

  •   ACH Fraud
  •   Artificial Intelligence
  •   Business Email Compromise
  •   Fraud
  •   Fraud Scams
  •   Wire Fraud