Nasdaq Verafin Helps Top Institution Prevent $9.6M in Potential Fraud Losses

Financial institutions need solutions that keep pace with evolving payments fraud schemes. A financial institution in the top 25 of U.S. financial holding companies who sought... 

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... 

Artificial Intelligence: Outsmarting Financial Crime

Artificial Intelligence (AI) is a powerful, dynamic solution that offers benefits to help fight modern financial crime. Financial Institutions are increasingly utilizing AI-driven fraud, money... 

Beyond Alerts: Lessons from the Case of a BEC Mastermind

April 17, 2024 by Nasdaq Verafin

Business Email Compromise (BEC) is among the greatest threats to our financial system, linked to $6.7 billion in losses globally and over 20,000 complaints to the FBI last year. Beyond alerts and compliance documents, financial professionals are the bedrock protecting... 

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Check fraud is often viewed as an outdated crime — but these scams are in fact becoming highly sophisticated and causing significant losses.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... 

Human Trafficking: A Humanitarian Crisis

April 2, 2024 by Nasdaq Verafin

“$350 billion dollars from human trafficking. Imagine how many victims had to suffer — sweat, blood, and tears — for $350 billion dollars.”   – Timea Nagy, Human Trafficking Activist & Survivor  Human trafficking is a global humanitarian crisis. At any... 

Dark Web: Inside the Internet’s Underworld

March 20, 2024 by Nasdaq Verafin

“Injustice anywhere is a threat to justice everywhere.”  – Martin Luther King Jr. The cloak of anonymity can be used to protect someone from scrutiny or to conceal the worst human behavior imaginable. The dark web, originally conceived to allow... 

Business Email Compromise: A Global Menace

March 14, 2024 by Nasdaq Verafin

First identified in the early 2010s by the FBI as a financial cyber threat, Business Email Compromise (BEC) has evolved into a global menace to the integrity of our financial system. Nasdaq’s 2024 Global Financial Crime Report attributed $10 billion... 

Romance Scams: 6 Questions to Save Lives & Livelihoods

March 6, 2024 by Colin Parsons

“People lose their homes, their security, everything. They have already lost their friends, their family, and ultimately some are losing their lives. We don’t want that to happen. As a professional, would it be better for you to question their... 

Increased Use of Virtual Currency in Human Trafficking

March 5, 2024 by Nasdaq Verafin

Criminals will exploit the most vulnerable in society for significant financial gain. According to Nasdaq’s Global Financial Crime Report, in 2023, $346.7B of illicit funds was linked to human trafficking activity – although this number is likely only a fraction...