Event: Demo[Live] End-to-End High-Risk Customer Management & CDD/EDDDecember 01 at 12:30 PM - 01:00 PM ESTHigh-risk customer management is a significant challenge, as financial institutions must balance the needs of their business and customers with heightened regulatory expectations for customers... |
BlogSolutions for SAR/STR Filing: Best Practices for Crypto CompaniesNovember 7, 2022 by Verafin Virtual currencies are swiftly becoming the currency of choice for fraudsters – the rate of Suspicious Activity Reports (SAR) filed including cryptocurrency is rapidly rising. According to the U.S. Government Accountability Office (GAO), from 2017-2020, the number of SARs referencing... |
BlogThe Future of Crypto Compliance: The Need for Effective AML/CFT SolutionsOctober 14, 2022 by Verafin “E.O. 14067 recognizes that digital assets may pose significant illicit financing risks and commits the U.S. government to mitigating these and any other national security risks.” 1 While the use of digital assets such as convertible virtual currencies continues to... |
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... |
Archived WebinarA Risk-based Approach to Sanctions ComplianceOriginally Presented: July 27, 2022 An effective sanctions screening program that meets the growing complexities of sanctions compliance is essential for financial institutions. Relying on legacy and disparate systems across... |
BlogAssessing AML/CFT Compliance Risks for Crypto CompaniesJuly 26, 2022 by Verafin Companies that operate cryptocurrency exchanges or crypto ATMs in the U.S. must be registered as MSBs with FinCEN, and meet all AML/CFT compliance requirements, including identifying and reporting potentially suspicious activity. Recently released guidelines from the MSBA, ETA, INFiN, and... |
Archived WebinarBanking Cannabis-Related Businesses: Marijuana, Hemp and CBDOriginally Presented: June 30, 2022 The burgeoning U.S. cannabis industry is subject to a complex regulatory compliance landscape, with laws differing from coast to coast, at state and federal levels,... |
BlogCryptocurrency Fraud Scams Amass Over $1BJune 27, 2022 by Verafin According to a sobering new report by the Federal Trade Commission, since the start of 2021 more than 46,000 people have collectively reported more than $1 billion in losses to crypto-related scams, with an average loss of $2,600 per person.... |
BlogKeeping Pace with the Changing AML/CFT Landscape: Virtual Currency Payment RisksJune 8, 2022 by Verafin The use of Convertible Virtual Currency (CVC) is increasing, offering an alternative transaction channel for consumers and a new transaction channel for criminals to exploit. Virtual currency activity is relevant to all financial institutions, even those that do not offer... |
BlogManaging the Growing Complexities of Sanctions RiskMay 9, 2022 by Verafin The Russian invasion of Ukraine and the subsequent escalation of the Russian-Ukrainian war has been met with condemnation and resulted in severe economic sanctions from governments across the globe. Sanctions are crucial to enforce foreign policy objectives and deter criminal... |
