Money Services Businesses (MSBs)

Over a quarter of American households use Non-Banking Financial Institutions (NBFIs) such as Money Services Businesses (MSBs) to move money, but banking MSBs can be... 

Managing & Mitigating Risk

Financial institutions are facing significant Customer and Enhanced Due Diligence (CDD/EDD) challenges for higher-risk categories of customers as outlined in the FFIEC BSA/AML Examination Manual.... 

How do you find your high-risk customers?

Originally Presented: July 31, 2019

Financial institutions invest significant time and resources into identifying customers in high-risk categories, such as Private ATM Owners, Money Service Businesses (MSBs), Marijuana-Related Businesses (MRBs),... 

Non-Governmental Organizations & Charities

Though intended to serve the public good, non-governmental organizations and charities (NGOs) have been exploited to raise and move funds by criminal and terrorist organizations.... 

Switching to Stay Compliant

City Bank •  Location: Lubbock, TX Assets: $3.7B  •  Core Banking System: Jack Henry – Silverlake System “When we moved over to Verafin, it made... 

How to Effectively Manage High-Risk Customers

Today, institutions are facing increased regulatory pressures governing Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) procedures, particularly regarding high-risk customers. This eBook discusses... 

Partners in Fighting Crime

Randolph-Brooks Federal Credit Union •  Location: Live Oak, TX Assets: $9.2B*  •  Core Banking System: Fiserv – DNA “I have been using Verafin for over... 

Cannabis-Related Businesses

Cannabis-related businesses (CRBs) have been receiving a lot of attention lately. This growing industry is already worth more than $17 billion in the U.S., with... 

Enhanced Due Diligence

Institutions are facing challenges in meeting requirements for conducting Enhanced Due Diligence (EDD) reviews of high-risk customers. Managing the volume of reviews created as a... 

Risk Surveillance

Required ongoing surveillance of your high-risk customers can be a challenging, manual process, with unusual activity often uncovered through general AML transaction monitoring. By analyzing...