Find suspicious activity hiding in your loans
There are numerous legitimate reasons why a loan may be charged off. So, how do you find instances where criminals are taking advantage of your lending services? And how do you ensure you are completing SARs when necessary?
Verafin alerts you to potentially suspicious loan charge-offs and loans at risk of being charged off, helping improve communication between BSA/AML, fraud detection, and Collections professionals. Institutions are also alerted when entities with loans at your FI have a history of loan charge-offs across FIs in the Verafin Cloud, giving you an early opportunity to avoid potential loss by uncovering fraudsters hiding in your institution.