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  Blog

Economic Stimulus Payments Targeted by Fraudsters

May 8, 2020 by 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,... 

  Blog

Taking Quick Action Against COVID-19 Crimes

May 4, 2020 by 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... 

  Video

Unusual Access – Reconnaissance Agent

A cybercriminal’s end goal is to siphon funds out of a victim’s online bank account. Once they gain access to the online account they will... 

  Video

Risky Online Banking Setup Agent

Confidence scams, like romance or job scams, are a growing ploy by fraudsters to establish trust with a victim with the end goal of obtaining... 

  Video

Unusual Access – ACH Agent

Online customer accounts are a serious target for sophisticated cybercriminals looking to commit unauthorized transfers. Once an online account has been breached, money can be... 

  Blog

Fraud Risks in Turbulent Times

March 20, 2020 by 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... 

  Case Study

United Community Bank prepares for tomorrow and prevents more than $1M in fraud losses, today.

United Community Bank • Location: Blairsville, GA Assets: $19B • Core Banking System: Fiserv – Premier “In less than two months there’s been a clear... 

  Case Study

Rich Data Approach Provides Rich Rewards for Fraud Team

Digital Federal Credit Union (DCU)  •  Location: Marlborough, MA Assets: $9.9B  •  Core Banking System: Fiserv – XP2   “Within the first couple of alerts... 

  Case Study

Protecting the Vulnerable at a Confluence of Crime

Community First Credit Union  •  Location: Jacksonville, FL Assets: $2.3B  •  Core Banking System: Symitar Episys “The advanced nature of Verafin’s software and their dedication... 

  Blog

Unmasking online account takeover

December 19, 2017 by 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...