Fraudulent checks are challenging the financial industry, with legacy approaches unable to counter the complexities of stolen and altered check fraud scams. At Verafin, our unique approach to fighting financial crime gives us the opportunity to rethink the problem and offer a new solution.
Using the power of Consortium Analytics, Verafin improves stolen check fraud detection by analyzing a combined, anonymized data set from across our network of 2400 financial institutions – without sharing Personally Identifiable Information (PII) – to identify financial crime risk.
Discover more with on Verafin’s Check Fraud Consortium Analytic with Product Experts Corey Lynch and Nick Pearson. In this special presentation, discover how collaboration between financial institutions on both the depository and in-clearing side is essential to identifying and stopping stolen check fraud.