Wire Fraud

Stop fraudulent domestic and international wire transfers in real time to more effectively prevent fraud loss.

Proactively uncover advanced wire fraud schemes

The dollar value and international nature of many wire transfers make them inherently risky. With criminal schemes such as Business Email Compromise a growing problem, institutions need enhanced monitoring to prevent serious loss. Through Verafin’s innovative analytics, investigators have the ability to review potentially suspicious wires in real-time, alerting you to unusual wire transfers before they are released. Verafin’s wire fraud agents are segmented by sender type—person, elderly person, business and title company —allowing for more targeted analysis and individual configuration based on the specific fraud risks and scams for that group.



With a network of thousands of financial institutions in the Cloud, Verafin’s consortium data approach delivers insights into counterparty risk that significantly improves payments fraud detection and reduces false positives.


Get alerted when it appears your customer is being victimized by a known fraud scam — such as Business Email Compromise (BEC) — before the funds are transferred.


Verafin’s cross-institutional analytics can increase confidence that a wire payee has an established history and is not associated with past fraudulent activity. This powerful evidence helps minimize risk while reducing false alerts and helps investigators focus on truly fraudulent activity.


Analyzing a potentially fraudulent wire transfer once it is gone is often too late. Verafin integrates with numerous inline wire transfer solutions to alert you to unusual wires before they are released.


Get all wire details in one location, and quickly interpret the information with historical transfer graphs, interactive flow of funds diagrams and visual transaction overviews that include sender, value, payee, and receiving institution data.


There are often more instances of fraud on individuals — especially elderly individuals — compared to businesses. Verafin’s wire agents are segmented by sender type which allows you to have more control of your financial institution’s risk tolerance for different types of customers sending wires.


Stop fraudulent transfers before they are gone

Prevent serious loss by reviewing potentially suspicious wires before they are released. Verafin alerts you to activity that is unusual for your customers — in real time.

Improve your alert review efficiency

Verafin’s evidence-based alerts use a wide range of factors to not only alert you to potentially suspicious activity but also to reduce false alerts. Analyzing for potential escrow accounts and established payees are just two ways Verafin avoids alerting you to activity that is not fraudulent.

Increase your payee confidence

Significantly reduce time spent on customer call backs to verify transactions. In addition to demographic and transactional factors, Verafin utilizes the power of the Verafin Cloud, analyzing wire payments made by customers at financial institutions across its cloud environment to determine the validity of a receiving account.


Greater Control Over Alerts

Wire fraud schemes and the losses they inflict can vary greatly. With segmented wire agents, investigators get greater control over the type and risk value of the alerts they receive which can be individually configured according to your risk tolerance and clientele.

More Verafin Features

Automated SAR functionality. At the click of a button you can create a pre-populated SAR. Complete your narrative and queue it for overnight electronic submission directly from Verafin to FinCEN. Verafin can also remind you when it is time for 90-day refiling, if the suspicious activity continues. Learn more >
Information Sharing. Verafin gives you the tools to reach out to other financial institutions to request the information you need to enhance your investigations. Learn more >
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 >
Enterprise reporting. With hundreds of ad-hoc data reports, and the ability to create custom reports that include the information fields you need, Verafin helps improve auditing, reporting and record-keeping of all aspects of your fraud and AML detection efforts. Learn more >
Cross-Channel Fraud Detection. Fraudsters will target every available channel to enrich themselves at your customers’ (and your institution’s) expense. Verafin’s cross-channel analysis generates data-rich alerts that help you proactively detect scams and stop fraud losses from Deposit Fraud, Check Fraud, Card Fraud, Loan Fraud, Wire Fraud, ACH Fraud, and Online Account Takeover. Learn more >

Interested in learning more about Verafin's Wire Fraud Solution?