Results by Most Recent

Filtered by Topic:

  •   High-Risk Customer Management

Posts by Most Recent

  Blog

Beneficial Ownership: 5 Key Compliance Obligations

August 14, 2017 by Verafin

For many years, financial crime investigators have warned of possible links between shell companies and international money laundering activity. In the 2013 report How Shell Companies Aid Terrorism, Crime and Corruption, the Open Society Foundations discussed how shell companies are used to launder billions... 

  Case Study

Improved Fraud Detection

Neighbors Federal Credit Union  •  Headquarters: Baton Rouge, LA Assets: $1.2B  •  Core Banking System: Fiserv DNA   “Knowing Verafin is behind me and looking... 

  Feature Sheet

Customer & Enhanced Due Diligence (CDD & EDD)

Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) are the cornerstones of effective customer risk management. Verafin’s configurable Customer Due Diligence (CDD) questionnaire enables... 

  Blog

The CDD Final Rule: Seven Things to Remember

July 7, 2016 by Verafin

Until now, the lack of any general requirement for financial institutions (FIs) to know and verify the identity of the beneficial owners of their entity customers created the opportunity for criminal exploitation of the banking system through anonymous access. This... 

  Job Aid

Preparing for a Successful Exam Checklist

Cramming for any exam is no fun. Nobody wants (or needs) that last minute pressure! Certainly not when examiners are coming onsite in a few...