BlogEconomic Stimulus Payments Targeted by FraudstersMay 8, 2020 by Nasdaq Verafin “The CARES Act… together with three related pieces of pandemic relief legislation represent at least $2.4 trillion in aid and presents unparalleled opportunities to assist those in greatest need as well as unmatched prospects for fraud, misuse of the funds,... |
BlogTaking Quick Action Against COVID-19 CrimesMay 4, 2020 by Nasdaq Verafin Financial crime has proven to be a serious and growing challenge during the COVID-19 crisis. Fraudsters have promptly exploited the pandemic for their gain; with many financial institutions closed or limiting branch access and large numbers of citizens still sheltering... |
BlogFraud Risks in Turbulent TimesMarch 20, 2020 by Nasdaq Verafin As the COVID-19 pandemic continues to spread throughout the world, financial institutions have been encouraged to remain steadfast in their ongoing scrutiny of potentially suspicious behavior and to diligently report suspected fraudulent activity. On March 16, 2020, FinCEN released a... |
BlogUnmasking online account takeoverDecember 19, 2017 by Nasdaq Verafin The intersection of fraud and online banking accounts continues to be big business. With our dependence on smart phones and as the Internet continues to seemingly expand into every aspect of our lives, criminals are fashioning masks molded from stolen... |
BlogACH Payments: Mitigating the Risks of Faster FraudJune 12, 2017 by Nasdaq Verafin ACH payments have become one of the primary means of noncash payment in the past fifteen years. As consumers demand more convenience and flexibility in their banking options — these popular electronic money transfers create potential risks for your financial institution.... |
BlogU.S. Court Case: 5 Cyber-Enabled Financial CrimesDecember 4, 2016 by Denise Hutchings Last week, U.S. authorities in conjunction with international law enforcement issued a press release on the dismantling of a cyber criminal infrastructure known as Avalanche. A joint statement by U.S. agencies noted that “this network hosted more than two dozen... |
BlogU.S. Bank Account Information Sold on Dark Web MarketplaceAugust 25, 2016 by Denise Hutchings See our new blogs on this topic: Identity Exploitation Is Your Information for Sale on the Dark Web? Dark Web: Inside the Internet’s Underworld A recent online post under the “Fraud” category of a Dark Web marketplace read as follows:... |
Blog15 Red Flags for New Account FraudJuly 14, 2015 by Denise Hutchings Compromised credentials from a data breach or malware are frequently exploited by financial criminals to perpetrate new account fraud. The agency [FBI] used to learn about a new, large-scale data breach every two or three weeks. “Now, it is close... |
