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  •   Money Laundering

  Event: Demo

BSA/AML Compliance and Management

November 10 at 12:30 PM - 01:30 PM EST

Manual processes, siloed teams and rules-based legacy systems are exacerbating compliance challenges for many institutions across the financial industry. With mounting pressure from sophisticated financial crimes and changing regulatory requirements,...

  Event: Demo

End-to-End High-Risk Customer Management & CDD/EDD

October 28 at 12:30 PM - 01:30 PM EST

High-risk customer management is a significant challenge, as financial institutions must balance the needs of their business and customers with heightened regulatory expectations for customers in high-risk categories. These challenges...

  Blog

Defining Moments in the War on Financial Crimes

June 30, 2020 by Jim Richards

Fifty years ago, the law we now call the Bank Secrecy Act (BSA) was passed, and the war on financial crimes truly began. The BSA began with the Currency and...

  Feature Sheet

COVID-19-Related Unemployment Benefit Fraud Detection

The COVID-19 pandemic has caused an economic downturn and compelled millions of Americans to file for unemployment benefits. With claims systems strained by historic and accelerated volumes of applications, criminals...

  Blog

Money Mules Moving Illicit Proceeds from COVID-19-Related Crimes

June 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]...

  Infographic

10 Tips for Financial Crime Management during the COVID-19 Crisis

The 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, financial crime management teams are...

  Page

End-to-End High-Risk Customer Management & CDD/EDD

How effective is your bank’s high-risk customer management program? From identification to assessment, to continuous review and monitoring — current approaches for CDD/EDD for high-risk customers in mid-sized banks often...

  Blog

Deconstructing the Currency Transaction Report

February 18, 2020 by Jim Richards

With FinCEN reporting increases in BSA report filings year over year, it is likely that over 16 million Currency Transaction Reports, or CTRs, were filed in 2019, each one reporting...

  Blog

The Bank Secrecy Act Doesn’t Really Exist

January 15, 2020 by Jim Richards

Happy New Year! Happy New Decade! But most importantly, Happy 50th Anniversary of the Bank Secrecy Act! Yes, the (so-called) Bank Secrecy Act was passed fifty years ago this October....

  Infographic

Uncovering Crime Rings in the Cloud

This infographic provides an overview of a real-life crime ring active for more than 8 years, spanning 32 institutions, involving 29 entities, and representing potential losses of $10 million. Powerful...