TOPIC: Software

Demonstration | BSA/AML Compliance, Fraud Detection & High-Risk Customer Management - Join us June 19

June 19 at 12:30 PM - 01:30 PM EST
BSA/AML Compliance, Fraud Detection & High-Risk Customer Management
A Consolidated Financial Crime Management Platform


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Today’s criminals do not limit their illicit activities to a single financial institution. More and more, multiple institutions are targeted for increasingly complex financial crimes. As these criminals evolve, traditional approaches to combat crime are largely ineffective.

The Verafin Financial Crime Management platform includes highly targeted detection scenarios that are enriched through big data intelligence with open-source and third-party data and provides cross-institutional analysis and collaborative investigations through the power of the Verafin Cloud. The result? Higher-quality alerts, expedited investigations, and richer, more detailed reporting.

Highlights of this software demonstration will include:
  • End-to-end High-Risk Customer Management and CDD/EDD
  • Targeted BSA/AML and fraud detection scenarios
  • Risk-rated alerts enriched with third-party, open-source and cloud data, and visual investigation tools
  • Cross-institutional detection and Secure 314(b) Information Sharing 
  • Complete BSA/AML Compliance and Management with process automation
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    Blog | Elder Financial Abuse: SAR Trends - Industry Report Reveals Need for Improved Detection & Reporting

    Blog
    Elder Financial Abuse: SAR Trends
    Industry Report Reveals Need for Improved Detection & Reporting

    June 12, 2019 by Verafin

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    In February 2019, the Consumer Financial Protection Bureau (CFPB) released a study on elder financial abuse, utilizing information from Suspicious Activity Reports (SARs) to identify emerging trends in financial crime, and calling upon financial institutions to proactively monitor and report suspicious activities to law enforcement and adult protective services.

    Learn how financial institutions can help protect vulnerable consumers from fraudulent financial abuse with innovative technological solutions. With timely reporting of potentially suspicious activity to FinCEN and law enforcement, institutions can prevent further abuse and further financial loss, and ensure victims receive the valuable services and interventions required for recovery.

    Read more on Elder Financial Exploitation SAR trends and recommendations from the report

      Infographic | Elder Financial Abuse - Under Reported and on the Rise

      Infographic
      Elder Financial Abuse
      Under Reported and on the Rise


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      In 2010, annual financial losses from Elder Financial Abuse surpassed $2.9 billion. Recent research estimates actual annual losses at more than $36 billion.

      This infographic sheds light on the impact and shocking statistics of Elder Financial Abuse.

      Highlights:
      • The impact of this crime on society
      • How you can help protect your senior customers
      • Red flag indicators of Elder Financial Abuse
      Download Now