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Tag: Elder Financial Abuse

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A Look Inside the Cloud: Wire Fraud Trends Impacting Your Customers

June 15, 2023 by Verafin

Criminals are prolific and persistent in their attempts to defraud their victims. At Verafin, we know the first step in protecting financial institutions from these pervasive threats is understanding how, to whom and where fraud is occurring as criminals evolve... 

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From the Cloud: Deep Insights into Wire Fraud Trends

March 15, 2023 by Verafin

Payment fraud is a challenge that is pervasive in the financial industry, and a threat to financial institutions of all sizes. As the talk of a liability shift for consumer-related payment fraud gains momentum within regulatory spheres, additional pressure is... 

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Fraudsters Focusing on Higher Value Wire Scams

January 18, 2023 by Verafin

Payments fraud is an increasingly complex threat to financial institutions and consumers alike. As wire fraud attempts surge against individuals, especially for seniors, there is a growing debate surrounding mandatory victim reimbursements for Authorized Push Payment (APP) fraud. With a... 

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12 Red Flags for Elder Financial Exploitation

November 9, 2022 by Colin Parsons

“Financial institutions serve on the frontlines in protecting their older customers’ finances, and can play a critical role in helping to identify, prevent, and report suspected elder financial exploitation. Financial institutions’ vigilance matters. Their reporting matters.” – Himamauli Das, FinCEN... 

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Fighting Fraud with the Verafin Cloud

September 30, 2022 by Verafin

The industry leader in financial crime management, Verafin is offering trends and benchmarking statistics for wire fraud and related scams – allowing for unparalleled insight into new and emerging trends. We have gathered insights into key fraud trends by analyzing... 

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Preying on the Vulnerable

July 8, 2022 by Verafin

In the fight against financial crime, change is perhaps the only constant. As financial institutions implement more robust controls against schemes such as wire fraud, criminals respond by evolving their tactics and increasing efforts against more vulnerable customer segments. In... 

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Elder Financial Abuse: New Cloud Insights Show Major Surge

May 17, 2022 by 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... 

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Wire Fraud Benchmarking Highlights: Verafin Releases Trends from the Cloud

May 2, 2022 by 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... 

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Fraud Trends and Technology

January 12, 2022 by 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... 

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Elder Financial Abuse

October 19, 2021 by 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... 

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