Anti-Money Laundering & BSA Compliance

Improve your customer knowledge, better assess your risk, and enhance your ability to detect and report potentially suspicious activity with Verafin’s wide-ranging BSA/AML compliance functionality.

Uncover money laundering & illicit activity

From human trafficking to drug trafficking, money laundering is essential to the survival of the criminals and criminal organizations that perpetrate these crimes.

Verafin is dedicated to helping you uncover the most damaging financial crimes. Its money laundering analytics go beyond money in – money out activity, alerting you to possible victims and perpetrators of terrible crimes such as human trafficking and terrorist financing.

Solutions

CROSS-INSTITUTIONAL ANALYSIS

Criminals are using multiple institutions to hide their activity. Verafin’s cloud-based, cross-institutional analysis gives you more complete insight into customer activity to improve decision-making and give you added confidence in your investigation.

ADVANCED AML SCENARIOS

Verafin analyzes customer activity across transaction channels to provide you with robust alerts that uncover a range of suspicious activity, including the unusual movement of funds, structuring, human trafficking, and terrorist financing.

314(b) INFORMATION SHARING

Verafin’s 314(b) information sharing technology helps you connect with a larger network of peers to collaborate and share information, get a more complete picture of customer activity, and strengthen your AML investigations.

OFAC WATCH LIST SCANNING

Verafin automatically scans your customer information nightly against numerous regulatory watch lists, including OFAC and 314(a). You can also create internal watch lists and perform on-demand watch list searches.

SUSPICIOUS ACTIVITY REPORTING (SARs)

Verafin brings increased efficiency and confidence to the regulatory reporting process by helping you automating the tedious but necessary tasks associated with initiating, completing and filing Suspicious Activity Reports.

CDD/EDD

Verafin’s customer-centric CDD/EDD solution utilizes information collected on the CDD Questionnaire, to enhance ongoing transaction monitoring, helping you accurately assess and manage your high-risk customer relationships.

CASE MANAGEMENT

Fully integrated case management functionality allows you to create and fully document robust investigations. Upload related documents, assign tasks, create notes, generate an auto-populated SAR, and more.

Benefits

Beyond compliance

Anti-money laundering must be viewed as more than a regulatory compliance requirement. It is both a measure in self-preservation and, at a societal level, a responsibility. Verafin’s behavior-based AML analytics help you uncover the illicit activities funding drug trafficking, human trafficking, and terrorism.

Improved examinations

From fully integrated case management functionality, that helps you document and track all aspects of your investigations, to customizable enterprise reporting, Verafin has your examination needs covered.

INCLUDED WITH VERAFIN

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access to Verafin’s

ONLINE COMMUNITY

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unlimited

TRAINING & 24/7 SUPPORT

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continuous

WEEKLY RELEASES

More Verafin Benefits

OFAC/Watch List Scanning. Verafin automates Watch List Scanning tasks and applies advanced analytics to improve the effectiveness of your scanning processes. Verafin scans customers, non-customers, vendors, wires, and ACH files as part of its Watch List Scanning component. Learn More >
Integrated Case Management. Verafin’s case management functionality helps you organize all elements of your investigation into a single, centralized location, and fully integrates with Verafin’s workflows to give you the ability to quickly move an investigative case forward. Learn More >
Automated Regulatory Reporting. Verafin brings increased efficiency and confidence to your regulatory reporting processes by automating the tedious but necessary tasks associated with initiating, completing and filing Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs). Learn More about CTRs > or  Learn More about SARs >
Vendor Management. Regulators and examiners continue to pressure financial institutions to improve their management of third-party vendor relationships and the risks associated with those relationships. Verafin includes Vendor Management functionality that lets you better control your vendor management process. Learn More >

Interested in learning more about Verafin's Anti-Money Laundering and BSA Compliance Solution?

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