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Tag: Insights Blog

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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... 

  Blog

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... 

  Blog

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... 

  Blog

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... 

  Blog

Rising U.S. & International Wire Fraud Threats

July 29, 2022 by Verafin

The high dollar value and irrevocable nature of many wire transfers make them inherently risky and a prime target for criminals. With fraudsters unrelenting, financial institutions must remain informed of growing wire fraud threats, both domestically and internationally.  Our experts... 

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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... 

  Blog

Wire Fraud Insights: The Looming Threat of Business Email Compromise

May 24, 2022 by Verafin

Today’s payments ecosystem is rapidly evolving, driven by customer demand for greater speed and convenience, and the financial industry’s digital transformation. This change has also presented opportunities for financial crime — fraudsters are exploiting wire payments with Business Email Compromise... 

  Blog

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... 

  Blog

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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