Fraud Risks in Turbulent Times

March 20, 2020 by Nasdaq Verafin

As the COVID-19 pandemic continues to spread throughout the world, financial institutions have been encouraged to remain steadfast in their ongoing scrutiny of potentially suspicious behavior and to diligently report suspected fraudulent activity. On March 16, 2020, FinCEN released a... 

Redefining Fraud: Combating Evolving Business Email Compromise Schemes

January 23, 2020 by Nasdaq Verafin

In their search for the path of least resistance, fraudsters have discovered that trickery and deception are highly effective strategies. As noted by FinCEN, Business Email Compromise (BEC) is one area of financial crime where these tactics reign supreme, and... 

Synthetic Identity Fraud: Unreal Identities Result in Real Fraud Losses

Originally Presented: February 14, 2019

In this digital age, vast amounts of compromised customer information from data breaches and fraud scams is readily available for purchase on the dark web.... 

Unreal Identities Leading to Real Crimes

February 4, 2019 by Nasdaq Verafin

Synthetic identity fraud has become a vehicle for fraudsters to commit a host of financial crimes, such as account fraud, loan fraud or online banking fraud. Criminals combine real and fabricated identification information to create synthetic or fake identities which... 

Business Email Compromise (BEC) Fraud

December 10, 2018 by Nasdaq Verafin

This blog was originally published in July 2017 and has been updated to reflect up-to-date statistics and references. Business Email Compromise (BEC) has become a big earner in the criminal world and a serious fraud threat for financial institutions (FIs)... 

Unmasking online account takeover

December 19, 2017 by Nasdaq Verafin

The intersection of fraud and online banking accounts continues to be big business. With our dependence on smart phones and as the Internet continues to seemingly expand into every aspect of our lives, criminals are fashioning masks molded from stolen... 

Online Account Takeover Detection

2017 Crime Trends & Technology

Originally Presented: July 12, 2017

  Verafin industry experts: Brendan Brothers, Anti-Financial Crimes Specialist; and Mauriceo Castanheiro, Director of Fraud Analytics; discuss the challenges financial institutions faced to date in... 

The Cyber Crime Wave: What Bankers Need to Know

November 2016 In his insightful white paper The Cyber Crime Wave: What Bankers Need To Know, Chris Swecker, former Assistant Director of the FBI discusses... 

ACAMS Webinar
Cybercrime: A Prominent and Growing Financial Crime Threat

Originally Presented: December 8, 2016

“Great overview of cybercrimes currently effecting financial institutions.  Also, good example of real case; this was extremely insightful.” Compliance Officer, JP Morgan “Each webinar from...