Protecting the Vulnerable at a Confluence of Crime

Community First Credit Union • Location: Jacksonville, FL Assets: $2.3B • Core Banking System: Symitar Episys “The advanced nature of Verafin’s software and their dedication to staying ahead of criminal...

Banking Marijuana Related Businesses

Originally Presented: March 14, 2019

...on MRBs is critical to ensure your institution is meeting BSA requirements for this high-risk customer category. Your compliance program should include effective procedures for identification, risk assessment, periodic reviews,...

Threat from Within: Employee Fraud

February 25, 2019 by Nasdaq Verafin

...of cash, complicit individuals and financial services employees, and lax compliance at financial institutions.” The Treasury Department explains that “criminals seek out complicit merchants, professional, and financial services employees” who...

Fraud Trends and Technology 2022

January 30, 2023 by Colin Parsons

...Financial institutions are facing a magnitude of fraud schemes, each more complex than the next. To combat this, one lesson is essential – without the full picture of fraud, your...

Preventing Payments Fraud

July 24, 2024 by Colin Parsons

...Action to Combat an Industry Challenge As criminals continue to exploit payments and target victims through complex schemes leveraging social engineering and other methods, it is critical that financial institutions...

Banking Cannabis-Related Businesses: Marijuana, Hemp and CBD

Originally Presented: June 30, 2022

The burgeoning U.S. cannabis industry is subject to a complex regulatory compliance landscape, with laws differing from coast to coast, at state and federal levels, and varying between cannabis-related businesses,...

Sanctions Screening and Management

...false positive alerts, multiple, disparate systems and inaccurate data can result in enhanced scrutiny, inefficient processes, and potential gaps in compliance programs. Failure to comply could mean reputational damage, civil...

Modus Operandi of a Criminal Organization

Originally Presented: June 1, 2022

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...

Employee Fraud: Understanding the Threat from Within

Originally Presented: July 28, 2021

...compliance considerations Review tactics internal bad actors use to commit fraud against financial institutions Best practices to mitigate losses and protect your institution from internal threats, including appropriate monitoring and...

Elder Financial Exploitation

June 4, 2024 by Nasdaq Verafin

...to these scams than all other age groups combined. Fraudsters will notify victims, posing as technical experts, feigning a fabricated computer virus or informing them that someone has gained illegal...