BlogFrom the Cloud: Deep Insights into Wire Fraud TrendsMarch 15, 2023 by Verafin Payment fraud is a challenge that is pervasive in the financial industry, and a threat to financial institutions of all sizes. As the talk of a liability shift for consumer-related payment fraud gains momentum within regulatory spheres, additional pressure is... |
BlogFraud Trends and Technology 2023January 30, 2023 by Colin Parsons Looking to the past can help us determine the course for the future. This is an important lesson for financial institutions looking to protect themselves and their customers from fraud. Financial institutions are facing a magnitude of fraud schemes, each... |
BlogFraudsters Focusing on Higher Value Wire ScamsJanuary 18, 2023 by Verafin Payments fraud is an increasingly complex threat to financial institutions and consumers alike. As wire fraud attempts surge against individuals, especially for seniors, there is a growing debate surrounding mandatory victim reimbursements for Authorized Push Payment (APP) fraud. With a... |
BlogFighting Fraud with the Verafin CloudSeptember 30, 2022 by Verafin The industry leader in financial crime management, Verafin is offering trends and benchmarking statistics for wire fraud and related scams – allowing for unparalleled insight into new and emerging trends. We have gathered insights into key fraud trends by analyzing... |
BlogPreventing Payments Fraud Loss: The Power of a Consortium-Based ApproachSeptember 8, 2022 by Verafin Payments fraud is changing, and financial institutions are facing major challenges effectively managing the growing volumes of legitimate and fraudulent transactions. Meanwhile, fraudsters are focusing their efforts on Authorized Push Payment (APP) scenarios such as Business Email Compromise (BEC), and... |
BlogRising U.S. & International Wire Fraud ThreatsJuly 29, 2022 by Verafin The high dollar value and irrevocable nature of many wire transfers make them inherently risky and a prime target for criminals. With fraudsters unrelenting, financial institutions must remain informed of growing wire fraud threats, both domestically and internationally. Our experts... |
BlogPreying on the VulnerableJuly 8, 2022 by Verafin In the fight against financial crime, change is perhaps the only constant. As financial institutions implement more robust controls against schemes such as wire fraud, criminals respond by evolving their tactics and increasing efforts against more vulnerable customer segments. In... |
BlogWire Fraud Insights: The Looming Threat of Business Email CompromiseMay 24, 2022 by Verafin Today’s payments ecosystem is rapidly evolving, driven by customer demand for greater speed and convenience, and the financial industry’s digital transformation. This change has also presented opportunities for financial crime — fraudsters are exploiting wire payments with Business Email Compromise... |
BlogWire Fraud Benchmarking Highlights: Verafin Releases Trends from the CloudMay 2, 2022 by Verafin Wire fraud is evolving across the financial industry — and today, Business Email Compromise (BEC), targeted consumer scams, and the financial exploitation of elderly persons are of particular concern. With fraudsters circumventing the enhanced authentication controls of many digital platforms... |
BlogFraud Trends and TechnologyJanuary 12, 2022 by 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... |
