Account Fraud

From doctoring checks to exploiting your most vulnerable customers, criminals will stop at nothing to defraud your financial institution’s accounts for their gain. The threat... 

6 Indicators of Employee Fraud for Financial Institutions

August 2, 2019 by Nasdaq Verafin

The threat of Employee Fraud is on the rise, as financial institutions are increasingly being targeted by internal fraudsters that take advantage of their positions for personal gain. With access to customers’ personal identification information, consumer and corporate bank accounts,... 

Elder Financial Abuse: SAR Trends

June 12, 2019 by Nasdaq Verafin

In February 2019, the Consumer Financial Protection Bureau (CFPB) released a study on elder financial abuse, Suspicious Activity Reports on Elder Financial Exploitation: Issues and Trends. The study utilizes information from Suspicious Activity Reports (SARs) to identify emerging trends in... 

Unreal Identities Leading to Real Crimes

February 4, 2019 by Nasdaq Verafin

Synthetic identity fraud has become a vehicle for fraudsters to commit a host of financial crimes, such as account fraud, loan fraud or online banking fraud. Criminals combine real and fabricated identification information to create synthetic or fake identities which... 

How financial institutions can help end elder financial exploitation

June 18, 2018 by Nasdaq Verafin

Elder financial exploitation (EFE) may be the crime of the 21st century. The available numbers paint a scary picture: one 2015 report indicated seniors are defrauded of nearly $36.5 Billion annually, over 12 times the amount previously reported. In August... 

Elder Financial Abuse: Protecting Vulnerable Customers from Fraud

Originally Presented: May 10, 2018

Elder Abuse is a growing crime that should compel everyone to take action. While it is believed that as few as 1 in 14 cases... 

Building momentum in the fight against human trafficking

January 9, 2018 by Nasdaq Verafin

Throughout 2017 awareness of human trafficking as a modern human tragedy — orchestrated by criminal organizations on a global scale — continued to grow. Equally important, there was an increased recognition of the vital role financial crime investigators at financial... 

Investigating Human Trafficking

Estimates indicate there are more than 40 million victims of human trafficking worldwide. With improved detection, investigation, and reporting, financial institutions can help combat this... 

Best Practices for Human Trafficking Investigations

Originally Presented: November 29, 2017

Financial institutions and investigators can play a critical role the fight against Human Trafficking — to follow the money, uncover perpetrators, and protect potential victims... 

Industry alert: NACHA warns of risks in C2C ACH Debits

November 28, 2017 by Nasdaq Verafin

NACHA has turned the risk spotlight on Consumer-to-Consumer (C2C — also known as Account-to-Account (A2A) or Peer-to-Peer (P2P)) debit payments again. Over the past six months we have seen a steady flow of warnings within the industry about the dangers...