Turning the Tide: Expert Insights on $3.1T in Financial Crime

February 23, 2024 by Nasdaq Verafin

Focusing on striking revelations from the recently released Nasdaq 2024 Global Financial Crime Report, Verafin hosted an expert panel presentation on the implications of over $3.1 trillion in illicit money that flowed through the financial system in 2023.  This special... 

A $3.1 Trillion Financial Crime Epidemic

February 5, 2024 by Nasdaq Verafin

Historically, quantifying the scale of financial crime has been a major challenge. In a new 2024 Global Financial Crime Report, Nasdaq and Verafin have brought together expert research and data, industry perspectives, and the voices of survivors to provide insights... 

Fraud Trends & Technology 2023

January 22, 2024 by Colin Parsons

Fraud never sleeps, and neither should financial institutions. As digital technology continues to develop new and faster ways to move money throughout the financial system, fraudsters are evolving to find new ways to intercept that money and commit their nefarious... 

Hidden in Plain Sight: Domestic Sex Trafficking

January 3, 2024 by Nasdaq Verafin

Human trafficking can occur anywhere – the reality of domestic sex trafficking is that it is closer than you think. Victims of domestic sex trafficking are individuals targeted within their own neighborhoods, cities, towns, or country. While numbers are massively... 

Big Data Reveals $26M Surge in Business Fraud

November 27, 2023 by Nasdaq Verafin

In the eyes of a criminal, fraud is just a money game. But for the countless American businesses targeted each year by bad actors and Business Email Compromise (BEC) scams, the impact is far greater, from lost livelihoods to reputational... 

AI & Large Language Models: Great Power Requires Greater Responsibility

October 11, 2023 by Nasdaq Verafin

“Artificial intelligence is one of the most powerful technologies of our time, with broad applications. President Biden has been clear that in order to seize the opportunities artificial intelligence presents, we must first manage its risks.” The White House, 2023 ... 

Business Email Compromise: Tracing the Lineage of a $50B Fraud Problem

August 21, 2023 by Nasdaq Verafin

Across the financial industry, few scams are as notorious as Business Email Compromise (BEC), and for good reason. The Internet Crime Complaint Center (IC3) has announced that since 2013 losses attributed directly to BEC surpassed $50B, representing a nearly 6300%... 

Verafin Named Category Leader in Payments Fraud by Chartis Research

August 11, 2023 by Nasdaq Verafin

FedNow® Service: Two Keys to Future Proof Your Fraud Prevention Program

August 7, 2023 by Nasdaq Verafin

The Federal Reserve’s FedNow®  Service has arrived, joining The Clearing House’s (TCH) real-time payments platform (RTP®) in a watershed moment for the U.S. financial industry. Together, these platforms have launched America into a faster payments era — defined on one... 

The Faster Payments Era: New Channels & Expectations

July 27, 2023 by Nasdaq Verafin

“The shift to real-time payment infrastructure requires a focused effort, but the shift is inevitable. The time is now for all key stakeholders—financial institutions, core service providers, software companies, and application developers—to devote the resources necessary to support instant payments.”...