Information Sharing

Leverage shared information and expertise by working with peer investigators at other 314(b)-registered institutions to strengthen your investigations and uncover potentially suspicious activity.

Working together to fight financial crime

Verafin provides a centralized platform for information sharing that allows investigators at 314(b)-registered financial institutions to easily send, receive, and respond to requests for information directly in our secure environment, expediting decision making in the investigation process.

Investigators can participate in collaborative investigations with other institutions directly in Verafin, securely sharing information to gain valuable insight into complex crime ring activity that spans multiple institutions. With shared investigative cases, institutions can enhance the information provided to law enforcement on potential money laundering or terrorist financing activity.

Features

DAILY 314(b)-LIST VERIFICATION

Daily verification of the 314(b)-registration list ensures you are working with registered contacts — at all times.

CONFIDENTIAL COLLABORATION

All collaborations are private, and you only collaborate with the institutions you choose, whether one-to-one, or within a secure group collaboration.

GROUP COLLABORATIONS

Share information with investigators in a single group thread to investigate complex activity that spans multiple institutions. You can voluntarily request to include additional institutions in a collaborative investigation, at any time, to gain further insight into possible criminal activity affecting a larger group of institutions — possibly indicative of a large-scale crime ring.

DOCUMENT & FILE SHARING

Once you start collaborating with another 314(b)-registered institution, you can easily upload and share relevant documents and files to strengthen your investigation, such as image files or transaction spreadsheets.

INTEGRATED CASE MANAGEMENT

Integrated case management functionality lets you create a fully audited and tracked investigation. Upload related files, assign tasks to other users, and document your decisions — all in one location. With centralized, logged, and reportable collaborative investigations, Verafin makes your reporting, auditing and examination process easier.

CENTRALIZED WORKFLOW DASHBOARD

Verafin’s collaborative workflow helps you quickly see the status of all incoming and outgoing 314(b) requests and keeps all collaborations and reports in a single, easy-to-access location. Our visual storytelling approach presents evidence-based alerts along with your information requests and collaborations, whether they are pending, active or closed, with quick links to 314(b) reports — in one convenient location.

Benefits

Find complex and deeply hidden criminal activity

Criminals are becoming increasingly sophisticated, building complex networks that spread their activity across multiple institutions. By leveraging big data intelligence and cross-institutional analysis in the Cloud, Verafin helps investigators uncover activity that might otherwise be missed by a single institution. Connect one-on-one with 314(b) investigators, or with multiple institutions in a group collaboration, to expand your investigative strength.

Collaborate with confidence and strengthen investigations

Voluntarily collaborate in Verafin’s secure environment with confidentiality and privacy. Verafin’s secure collaboration platform replaces burdensome secure email processes for more efficient and effective cross-institutional communication. Sharing information can expedite and improve your investigations by providing you with access to additional information that is vital to building a more complete picture of customer activity.

Easy 314(b) list searching

Verafin makes it easy to search the up-to-date 314(b)-registration list. Instead of manual institution searches, you can simply type an institution name into the provided search field and matching results are displayed. Then, at a click, you can begin an information request from the institution you need to contact.

WHY CHOOSE VERAFIN

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Big Data Intelligence

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Visual Storytelling

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Collaborative Investigations

Providing technology to power a network

Verafin provides 314(b) Information Sharing technology for more than 2600 institutions that are members of the FRAMLxchange, the industry’s largest network of 314(b)-registered institutions. FRAMLxchange is registered with FinCEN for 314(b) information sharing as an association of financial institutions.

More Verafin Features

Integrated Case Management. Integrated case management functionality lets you create a fully audited and tracked investigation. Upload related files, assign tasks to other users, and document your decisions — all in one location. Learn More >
Cross-Institutional AML Analysis. Big data intelligence analyzes AML alerts at institutions throughout the Verafin Cloud, so Verafin can alert you when an entity at your institution has previously generated AML alerts at another institution. Our 314(b) Information Sharing solution provides you with the collaborative tools to securely share information with the investigators who have the information you need. Learn more >
Risky Entity Analysis. By leveraging the power of the Verafin Cloud and deploying artificial intelligence and machine learning technology, Verafin alerts you to the presence of entities within your institution that have a history of performing suspicious activity at other institutions across the country. Learn more >
Enrich your SARs with collaborative investigations. Verafin offers a more complete picture of your customers’ activity, with the added value of 314(b) information sharing to enhance your Suspicious Activity Reports (SARs) and provide better information to law enforcement. Verafin can pre-populate your SAR — and when ready — file it directly to FinCEN. Learn more >

Interested in Verafin's Secure 314(b) Information Sharing network?

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