BlogAI & Large Language Models: Great Power Requires Greater ResponsibilityOctober 11, 2023 by Nasdaq Verafin “Artificial intelligence is one of the most powerful technologies of our time, with broad applications. President Biden has been clear that in order to seize the opportunities artificial intelligence presents, we must first manage its risks.” The White House, 2023 ... |
BlogFraud Trends and TechnologyJanuary 12, 2022 by Nasdaq Verafin Financial institutions face increasing challenges to keep pace with evolving financial crime, and 2021 revealed that fraud is moving faster than ever. In a year-in-review presentation, we explored the top fraud trends of 2021 identified in the Verafin Cloud, the... |
BlogAML Crime Trends and TechnologyJanuary 12, 2022 by Nasdaq Verafin Keeping pace with the changing landscape of BSA/AML is a significant challenge for financial institutions. In our year-end presentation we explored industry-wide AML trends and the specific challenges facing compliance programs today — including the recent passing of the AML Act of... |
BlogA Mandate for Innovation in the AML Act of 2020May 28, 2021 by Jim Richards The fourth instalment in Jim Richards’ Renewing the BSA Series. Innovation is a key theme throughout the Anti-Money Laundering Act of 2020 (AMLA or the Act). As financial crimes evolve and regulatory compliance commitments advance, financial institutions need innovative solutions... |
BlogCrime Trends & Technology: Reflections & Perspectives for 2021December 16, 2020 by Nasdaq Verafin In a recent year-end presentation, we explored the unrelenting challenges of 2020, the trends and technology developments throughout the year, and offered an overview of how recent industry threats may continue into the future. The following highlights and related resources will... |
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... |
BlogRedefining Fraud: Combating Evolving Business Email Compromise SchemesJanuary 23, 2020 by Nasdaq Verafin In their search for the path of least resistance, fraudsters have discovered that trickery and deception are highly effective strategies. As noted by FinCEN, Business Email Compromise (BEC) is one area of financial crime where these tactics reign supreme, and... |
BlogCrime Trends & Technology: Reflections & Perspectives for 2020January 7, 2020 by Nasdaq Verafin As we move into the next decade, it is critical for financial institutions (FIs) to reflect on recent trends in fraud and compliance, and gauge what potential challenges lay ahead. In a special year-end presentation, we took a look back... |
BlogRPA: Improve Efficiency and Increase Productivity by Automating Routine TasksSeptember 4, 2019 by Nasdaq Verafin Financial crime management programs are increasingly challenged by limited time and resources, with BSA/AML and Fraud investigators often spending more time manually collecting data than investigating potentially suspicious activity. Institutions should consider how artificial intelligence, such as machine learning and... |
BlogMachine Learning: Higher Performance Analytics for Lower False PositivesAugust 2, 2019 by Nasdaq Verafin |
