Elder Financial Abuse: New Cloud Insights Show Major Surge

May 17, 2022 by Nasdaq Verafin

Wire fraudsters are uncompromising, often targeting seniors with cruel elder abuse tactics from romance and investment scams to grandparent schemes. Since our previous blog on elder financial abuse, surging inflation and rising interest rates have strained senior’s modest budgets, leaving... 

Wire Fraud Benchmarking Highlights: Verafin Releases Trends from the Cloud

May 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... 

Quarterly Cloud Insights Q1 2022

In recent years, Verafin has observed a significant increase in wire fraud incidents across the industry, including cases of Business Email Compromise (BEC), targeted consumer... 

Fraud Trends and Technology

January 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... 

AML Crime Trends and Technology

January 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... 

Elder Financial Abuse

October 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... 

Peer Perspectives – Fraud Insights

Originally Presented: October 18, 2021

In this recording of the 2021 Virtual Fraud Detection & AML Conference, industry and technology experts, and your peers from financial institutions, discuss a diverse... 

Industry Panel – Innovating to Fight Fraud Scams

Originally Presented: October 18, 2021

From cunning criminals to elaborate schemes and scams, the constant evolution of fraud is a driving force for financial crime management technology and innovation. In... 

Persistence Pays as Fraud Continues Under COVID-19

July 12, 2021 by Nasdaq Verafin

Earlier this year, FinCEN issued an advisory to “alert financial institutions to health insurance and health care frauds related to the COVID-19 pandemic.” Fraudsters have been targeting multiple sources of funds, including Medicare, the Medicaid/Children’s Health Insurance Program (CHIP), TRICARE,... 

A Mandate for Innovation in the AML Act of 2020

May 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...