BlogFraudsters Focusing on Higher Value Wire ScamsJanuary 18, 2023 by Nasdaq 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 Nasdaq 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 Nasdaq 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 Nasdaq 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 Nasdaq 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 Nasdaq 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 Nasdaq 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 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... |
BlogElder Financial AbuseOctober 19, 2021 by Nasdaq Verafin “Every year, one in ten Americans aged 60 and older experiences abuse — and for every case of elder abuse that comes to the attention of authorities, it is estimated that 23 cases are never brought to light.“ – White... |
BlogCrossing Boundaries: The Expansive Threat of BECMay 20, 2021 by Nasdaq Verafin “For five years in a row, BEC is responsible for the most financial losses reported to the FBI. We have no reason to believe that 2021 will be any different.” Agari, 2021 As the industry rebounds from a challenging year,... |
