Stay a step ahead of deposit fraud attacks
Financial institutions across the country are facing an increasing number of deposit fraud attacks as criminals take advantage of the anonymity and convenience of ATM and mobile channels. Consumers, too are increasingly falling victim to fraud scams, which can have significant emotional and financial effects.
Nasdaq Verafin’s innovative agents use artificial intelligence and machine learning to analyze a wide range of risk factors indicative of fraudulent deposit activity. From cross-channel analysis to advanced detection for out-of-the-ordinary customer behavior, and assessment of customer profile information, Nasdaq Verafin strengthens your deposit fraud program all while filtering out lower-risk items.
Features
Benefits
Increased investigative efficiency
Using manual reports or creating rules to catch deposit fraud is time consuming. Too much time is wasted weeding through false alerts or irrelevant information. Nasdaq Verafin’s advanced agents employ artificial intelligence and machine learning to analyze billions of transactions in the Cloud, maximizing alert quality and accuracy so you can investigate truly suspicious activity.
Reduce new account fraud risk
New accounts are inherently risky. Nasdaq Verafin alerts you to potentially suspicious deposits made by new customers who do not have an established relationship with your institution and where the risk of loss due to exposure is high.
View and compare deposited checks
Nasdaq Verafin’s deposit fraud alerts give you the ability to view images of potentially suspicious checks within the alert. At a click, you can view the front and back of a check, compare features against other checks drawn from the same institution or written by the same payer.
