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Tag: Collaborative Frameworks

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ACH Fraud: NACHA Promotes Detection Across Transactions

April 23, 2024 by Nasdaq Verafin

Last year, NACHA’s ACH Network saw its eleventh straight year of growth exceeding $1 trillion as demand from consumers for electronic payments increased — and fraudsters are following the money. As Business Email Compromise (BEC) and other authorized push payment... 

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Combating Complex Check Fraud

April 12, 2024 by Colin Parsons

Check fraud is often viewed as an outdated crime — but these scams are in fact becoming highly sophisticated and causing significant losses. In 2023, there was $21B in check fraud losses in the Americas, representing nearly 80% of total... 

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Fraud Trends & Technology 2023

January 22, 2024 by Colin Parsons

Fraud never sleeps, and neither should financial institutions. As digital technology continues to develop new and faster ways to move money throughout the financial system, fraudsters are evolving to find new ways to intercept that money and commit their nefarious... 

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A Ruthless Scam

September 26, 2023 by Nasdaq Verafin

A prominent virtual currency investment scam, with the demeaning label “pig butchering,” is creating significant financial and emotional harm for countless victims around the world – criminals defrauded victims of more than $2 billion USD in 2022. Known as financial... 

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Collaborative Frameworks: Fighting Financial Crime with a Unified Approach

June 20, 2023 by Nasdaq Verafin

Financial crime is a persistent threat as criminals continually adapt their methods to target the financial system. Today, financial crime crosses both institutions and borders, making it more difficult to detect and prevent fraud and money laundering. This approach is... 

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Criminals Cash in on Stolen Checks: FinCEN Releases 10 Red Flags for Mail-Related Check Fraud

March 24, 2023 by Nasdaq Verafin

Mail-related check fraud is surging. In 2022, check fraud-related SARs filed to FinCEN reached over 680,000, almost doubling the previous year’s number of filings. In response to a nationwide surge of stolen check fraud schemes targeting the U.S. mail system,... 

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Fraud Trends and Technology 2022

January 30, 2023 by Colin Parsons