Feature SheetCOVID-19-Related SBA Loan Fraud DetectionU.S. Small Business Administration (SBA) loans have become prime targets for criminals eager to profit from the massive Coronavirus Aid, Relief, and Economic Security (CARES)... |
BlogCriminals Strike SBA Programs Amidst COVID-19 PandemicAugust 7, 2020 by Verafin “While American small business owners and employees are struggling, fraudsters are busy trying to steal the money meant to help those families survive. With billions of dollars in aid available, they will try every trick in the book to rob... |
Archived WebinarElder Financial AbuseOriginally Presented: June 30, 2020 Elder financial abuse is a devastating crime that is growing in prevalence as bad actors exploit fear and uncertainty of vulnerable customers during the COVID-19... |
BlogMoney Mules Moving Illicit Proceeds from COVID-19-Related CrimesJune 11, 2020 by Verafin “In the past, money mules have been viewed as low-level offenders, transferring small amounts of cash. However, organised, sophisticated money mule schemes have evolved as a [professional money launderer] mechanism.” – Financial Action Task Force From economic stimulus payments to... |
Archived WebinarACAMS Webinar: Stay Ahead of Emerging TrendsOriginally Presented: May 28, 2020 The COVID-19 crisis has highlighted existing weaknesses in current anti-financial crime approaches and the inflexibility of legacy detection systems to keep pace with evolving criminal... |
BlogBenefits Fraud Rising as Unemployment Claims SoarMay 28, 2020 by Verafin “It is deeply troubling to see these reports of fraudulent unemployment claims being filed and allegedly paid by the State Employment Security Department. These are our public tax dollars. These funds are intended for those in need, and not for... |
Infographic10 Tips for Financial Crime Management during the COVID-19 CrisisThe COVID-19 crisis has created enduring challenges for financial institutions nationwide. From pervasive fraud scams and counterfeit checks to devastating Business Email Compromise (BEC) attacks,... |
BlogIndustry Advisory: Detecting and Reporting COVID-19-Related Medical ScamsMay 25, 2020 by Verafin On May 18, the Financial Crimes Enforcement Network (FinCEN) released a new Advisory on Medical Scams Related to the Coronavirus Disease 2019 (COVID-19) to alert financial institutions to emerging scams related to the COVID-19 pandemic. This Advisory is the first... |
Feature SheetCOVID-19-Related Stolen Stimulus Payment DetectionThe Coronavirus Aid, Relief, and Economic Security (CARES) Act is the largest economic stimulus package in U.S. history — and a potential windfall for criminals... |
InfographicA Surge in ScamsOpportunistic criminals are leveraging the COVID-19 pandemic for their gain, preying on heightened consumer fear and anxiety during the crisis. With schemes related to COVID-19... |
