AML Act of 2020 Progresses SAR Regime

February 19, 2021 by Jim Richards

...categories of SARs (added by s. 6202) (g)(6) – FinCEN shall share threat pattern and trend information at least semiannually to provide meaningful information about the preparation, use, and value...

Impact of COVID-19 Crisis on Financial Crime Management Programs

April 6, 2020 by Nasdaq Verafin

...Compromise (BEC) fraud, information technology fraud, phishing scams, provider scams, testing scams, supply scams, charity scams and investment scams. Protecting Elderly Customers: institutions are being urged by industry agencies to...

Using analytics to uncover and help human trafficking victims

March 21, 2017 by Nasdaq Verafin

“It ought to concern every person, because it is a debasement of our common humanity. It ought to concern every community, because it tears at our social fabric. It ought...

Economic Stimulus Payments Targeted by Fraudsters

May 8, 2020 by Nasdaq Verafin

...In today’s digital society, it is all too easy for criminals to contact victims by telephone, email, text message or social media to obtain the information they need to commit...

ACH Payments: Mitigating the Risks of Faster Fraud

June 12, 2017 by Nasdaq Verafin

...companies are often targeted as their vendor information is often publicly available. They will request the update of their account information, providing a new account number and routing information. When...

Four key indicators for uncovering fraud in your loan charge-offs

August 1, 2017 by Nasdaq Verafin

...fraudulent activity getting missed in loan charge-offs? Figure 2 Lack of communication between Loan, Collections, and BSA Compliance departments within an institution can create a serious compliance hole. Oftentimes, Collections...

The Faster Payments Era: New Channels & Expectations

July 27, 2023 by Nasdaq Verafin

...to proceed uninterrupted, while also using real-time analysis to stop suspicious payments and immediately prevent loss. For more information on our consortium approach to combating payment fraud, visit our Faster...

Sanctions Screening & Management

...management is a complex and costly problem for financial institutions who risk reputational damage, civil penalties, and unsatisfactory regulatory examinations if they fail to comply. Nasdaq Verafin’s all-in-one solution presents...

Canadian Financial Crime Trends & Technology 2023

January 17, 2024 by Bill Heys

...towards detecting and preventing the same typologies, is not complimentary, leaving a blind spot in the big picture as illegally obtained money tries to enter back into the financial system....

Check Fraud is a Growing Problem – Financial Institutions Need a Solution

June 12, 2023 by Nasdaq Verafin

...the funds to criminal-held accounts. Stolen or altered checks can be sold on the dark web to criminal organizations. Fraudsters will use personal information obtained from mail theft to steal...