Big Data Reveals $26M Surge in Business Fraud

November 27, 2023 by Nasdaq Verafin

...key role in protecting payments and combating fraud scams against their business customers, such as BEC. A consortium approach to combating payments fraud can help you take decisive action against...

Modus Operandi of a Criminal Organization

The Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) National Priorities identified Transnational Criminal Organizations (TCOs) as a significant threat. Financial institutions require a proactive approach to combat this...

Combating Human Trafficking: Typologies and Red Flags for Financial Institutions

Human trafficking is a global humanitarian crisis. In 2023, according to the Nasdaq 2024 Global Financial Crime Report, $346.7 billion in illicit funds were linked to this heinous crime —...

Combating Human Trafficking: Typologies and Red Flags for Financial Institutions

Originally Presented: July 24, 2024

Human trafficking is a global humanitarian crisis. In 2023, according to the Nasdaq 2024 Global Financial Crime Report, $346.7 billion in illicit funds were linked to this heinous crime —...

Finding Renewed Purpose in the Bank Secrecy Act

November 7, 2018 by Jim Richards

...CFR §1010.810 provide that “overall authority for enforcement and compliance, including coordination and direction of procedures and activities of all other agencies exercising delegated authority under this chapter, is delegated...

Funnel Accounts

April 10, 2024 by Nasdaq Verafin

...in tandem with front companies. A Major Reputation & Compliance Risk Harboring the proceeds of all manner of illicit activities and enabling money laundering, funnel accounts pose an enormous reputation...

Top 3 Threats Facing the Financial System

April 30, 2024 by Nasdaq Verafin

...payments fraud a significant risk for financial institutions. Bolstered by the complexity of scams like Business Email Compromise, government benefit fraud, elder abuse and social engineering scams targeting consumers, over...

Highlights from the Cloud

Gain unparalleled perspective on wire fraud trends across the industry with Verafin’s complimentary infographic – Highlights from the Cloud: Wire Fraud Insights Q2 2022. Discover the findings of big data...

Fraud Trends Targeting Credit Unions & Members

Originally Presented: October 4, 2017

...flag indicators of common fraud scams affecting members Discussion on emerging fraud trends including identity theft, electronic payments, loan fraud, and more Mitigation strategies to protect your credit union and...

Cloud Insights: Big Data Trends & Discoveries

Verafin has uncovered unique insights into the scope of wire fraud, ACH fraud, and Business Email Compromise (BEC) through analysis of our immense data set in the Cloud. With a...