BlogCountdown to Compliance: Meeting the New NACHA RulesMarch 21, 2025 by Nasdaq Verafin The deadline for compliance with the new NACHA operating rules is a year away. With payments made through the Automated Clearing House (ACH) network increasing by a trillion-dollar value every year, fraudsters have their eye on that money. In 2024,... |
BlogPredicate Crimes to Money Laundering: 5 Key Illicit ActivitiesMarch 7, 2025 by Nasdaq Verafin Predicate crimes to money laundering are criminal activities that generate illicit profits, which are then reintroduced into the economy through a process of placement, layering, and integration. From drug and human trafficking to terrorist financing and fraud, these illegal activities... |
BlogForged Endorsement: The Signature Aspects of the CrimeFebruary 27, 2025 by Nasdaq Verafin Checks stolen from the mail and fraudulently endorsed accounted for 20 percent of the check fraud reported in FinCEN’s recent Financial Trend Analysis. Known for its unsophisticated methodology, stolen checks deposited with a forged signature are incredibly difficult to identify... |
BlogImproving Complex Financial Crime Investigations with Big Data, AI, and AutomationFebruary 20, 2025 by Nasdaq Verafin In 2023, $3.1 trillion in money laundering and illicit funds flowed through the global financial system. The need to follow the money, uncover hidden connections and provide actionable intelligence to law enforcement is acute. For many financial institutions, unravelling intricate... |
BlogGuarding the Golden Years Part 2: Effectively Detecting Elder Financial ExploitationFebruary 13, 2025 by Nasdaq Verafin Elder financial exploitation (EFE) is a heinous crime, capitalizing on the vulnerabilities of older adults with limited technological knowledge and readily available liquid assets. In a recent Interagency Statement, FinCEN and other agencies are urging financial institutions to take action... |
BlogDeepfakes Empower Authorized Push Payment ScamsDecember 10, 2024 by Nasdaq Verafin In an increasingly digital world, technology has made life more convenient — and created opportunities for sophisticated fraud. Deepfake technology is a prime example — so much so that FinCEN is warning financial institutions of its rising use in scams... |
BlogVirtual Kidnapping: Protecting Payments in AI-Enabled ExtortionDecember 2, 2024 by Nasdaq Verafin “The internet never forgets.” This warning from the U.S. Army Reserves is a stark reminder that online activities create an unerasable trail of information. In a digital age where most Americans spend countless hours on social media, the sheer availability... |
BlogFinancial Crime: Impacting the U.S. EconomyOctober 3, 2024 by Nasdaq Verafin From trillions of dollars in losses to an incalculable human cost, financial crime a serious threat to the integrity of the global financial system. A newly released Nasdaq Verafin whitepaper has revealed how financial crime is also having deep impacts... |
BlogPushing Back: The UK’s Response to Authorized Push Payment FraudJuly 17, 2024 by Nasdaq Verafin On October 7, financial institutions and regulators around the world will be watching closely as the United Kingdom (UK) embarks on a new frontier of fraud mitigation and consumer protections. In a global economy experiencing increasing bank and consumer fraud... |
BlogA Complicated CrimeJuly 4, 2024 by Nasdaq Verafin Financial crime is a global epidemic – more than $3 trillion in illicit funds and money laundering activity flowed through the financial system in 2023. Predicate crimes are driving much of this activity with fraud being one of the eight... |
