August 26 at 12:30 PM - 01:30 PM EST

Solutions to Combat COVID-19 Financial Crime

Mitigate Risk and Prevent Fraud with Advanced Analytics and Rapid Cloud Delivery

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While fraudsters prey on consumer fear and uncertainty during the COVID-19 pandemic, financial institutions are experiencing significant changes in daily operations and in customer behavior – adding to the complication for financial crime management programs that rely on conventional transaction monitoring. With the crisis creating historic possibilities for crime, institutions can no longer afford delays in product updates or platforms that cannot release urgently required protections, today. In these uncertain times, a responsive, cloud-based solution that decisively counters emerging financial crime is key to adapting to the industry’s new normal with speed and confidence.

View this on-demand presentation to learn about the trends that have emerged during the pandemic, and how Verafin’s financial crime management platform has quickly adapted and responded to the challenges to allow you to efficiently manage AML compliance and protect your institution and customers from loss.

Highlights of this product demonstration will include:

  • Targeted Online Account Takeover Agents including alerts for Risky Online Banking Setup that help prevent losses as more customers and fraudsters access online accounts for the first time.
  • Mobile Deposit Scam Detection with machine learning that learns from cloud data to more effectively prevent losses on digital channels.
  • Enhancements to Wire Fraud Detection to alert you to outgoing wires related to COVID-19, as scams like Business Email Compromise using wire transfers are on the rise.
  • New Detection Solutions for Stolen Stimulus Payments, Unemployment Benefits Fraud and SBA Loan Fraud through ACH direct deposit to prevent criminals from using customer accounts to profit from fraudulent economic aid.
  • Case Management for COVID-19-Related Scams to ensure effective planning and tracking of trends related to the crisis.

Tagged as...

  •   Account Takeover
  •   Artificial Intelligence
  •   BSA/AML Compliance
  •   Business Email Compromise
  •   Case Management
  •   Check Fraud
  •   Cloud Technology
  •   COVID-19
  •   Crime Rings
  •   Deposit Fraud
  •   Fraud
  •   Fraud Management
  •   Fraud Scams
  •   Money Laundering
  •   Wire Fraud