TOPIC: Software

Demonstrtion | Online Banking & Digital Fraud: A Consolidated, Cross-Channel Solution to Prevent Losses - Join us Aug 19

August 19 at 12:30 PM - 01:30 PM EST
Online Banking & Digital Fraud: A Consolidated, Cross-Channel Solution to Prevent Losses
Protect Wire, ACH, and Mobile Deposit Channels with Speed and Confidence

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From mobile deposit fraud to unauthorized P2P transfers, opportunistic criminals are targeting digital channels to inflict massive losses. As more and more customers migrate to online banking, financial institutions must consider how a consolidated approach can mitigate fraud on digital and online channels and proactively protect customers from loss.

Join us for an in-depth product demonstration as engaging experts demonstrate how Verafin’s Fraud Detection and Management solution combats fraud across digital channels, evolving alongside emerging trends, and providing rich insights and real-time monitoring.

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    eBook | Understanding Fraud Schemes & Scams - Download Now

    eBook
    Understanding Fraud Schemes & Scams
    A guide to common scenarios used by fraudsters to victimize your customers.

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    Fraud is constantly evolving — it is the one truth within the industry — and increasingly fraudsters are targeting your customers to commit it.

    This guide will help those combating fraud within financial institutions learn more about scam scenarios, including BEC fraud, romance, employment, loan and lottery scams. It also includes a convenient one-page Quick Reference Guide to print and share with frontline staff.

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      Infographic | Managing & Mitigating Risk: Challenges of CDD/EDD for Higher-Risk Customers - Download Now

      Infographic
      Managing & Mitigating Risk
      Challenges of CDD/EDD for Higher-Risk Customers

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      Financial institutions are facing significant Customer and Enhanced Due Diligence (CDD/EDD) challenges for higher-risk categories of customers as outlined in the FFIEC BSA/AML Examination Manual.

      This infographic provides an easy-to-understand overview of high-risk customers, including expectations from examiners for risk-based procedures, a visualization of progressive methods of due diligence and suspicious activity reporting, current challenges of conventional CDD/EDD approaches, and how to strengthen compliance with an end-to-end approach to high-risk customer management.

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        Demo | BSA/AML Compliance, Fraud Detection & High-Risk Customer Management - Join us Aug 12

        August 12 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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        Conventional approaches to financial crime management are now largely ineffective, with opportunistic criminals outsmarting inefficient manual processes and disparate point solutions. As fraudsters gain momentum, a cloud-based platform that evolves alongside criminal trends and provides holistic insights is more important than ever.

        Join us for an engaging overview of Verafin’s cloud-based, consolidated Financial Crime Management platform — a complete solution to detect, investigate and report financial crime. Our expert presenters will explore the power of Verafin’s big data intelligence approach, highly targeted detection scenarios enriched with open-source and third-party data, cross-institutional analysis, and collaboration through the Cloud.

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          Abrigo's BSA Demo - BAM+ in Action Empowering your institution with a more powerful tool

          Tuesday, July 28 | 3 p.m. ET
          Register here

          Through customer feedback, decades of industry knowledge and experience, and new state of the art features, we've taken everything that was great about BAM+, updated it, and added even more functionality to help you catch bad actors. We have overhauled BAM+, our comprehensive BSA/AML automation and compliance system, over the last six months and want to share the updates with you. 

          During this demo, we'll walk you through the updated product and demonstrate the improvements we've made to BAM+. You can register here to see all of the enhancements we've made in action and learn how Abrigo will work to keep your institution and customers/members safe from financial crimes.

          Register for the upcoming BAM+ demo

            Levy and Subpoena management software

            SVP at a bank ($308MUSA)
            Good morning,
            I am seeking a software tool to manage levy, garnishment and subpoena processing.  Currently I use an Access Database to log, track and report on these areas, but I do not have confidence in its stability going forward.  I found 3Core through a Google search and see they have a software called Levenger.  Has anyone used this for their legal process management?  Or do you use another provider that I should look into as well?

            Thank you,
            Karen

              Dummies eBook | Suspicious Activity Reporting for Dummies® - Download Now

              Dummies eBook
              Suspicious Activity Reporting for Dummies®

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              Suspicious Activity Reporting for Dummies® walks you through the process of filling out your SAR accurately and efficiently and offers tips on how to spot and track potential money laundering activities.

              Look inside for helpful advice on how to make your AML workflow more efficient, save on costs, and streamline your institution’s monitoring and reporting processes with automated SAR e-filing.

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                Feature Sheet | Feature Sheet COVID-19-Related Unemployment Benefit Fraud Detection

                Feature Sheet
                COVID-19-Related Unemployment Benefit Fraud Detection

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                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 are taking advantage through fraudulent unemployment benefit claims.

                Combat fraudulent benefit payments with Verafin’s COVID-19-Related Unemployment Benefit Fraud Detection solution, including advanced detection for excessive payments diverted to a single account, new accounts opened to facilitate fraud, and mismatched payee-customer account information.

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                  Demonstration | BSA/AML Compliance and Management: Uncover Suspicious Activity & Strengthen Compliance - Join us Aug 5

                  August 05 at 12:30 PM - 01:30 PM EST
                  BSA/AML Compliance and Management
                  Uncover Suspicious Activity & Strengthen Compliance

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                  Today’s landscape of changing regulatory requirements creates enormous pressure for compliance professionals to uncover potential money laundering and stay ahead of suspicious activity. Yet, many financial institutions still rely on legacy systems, broad rules and manual processes to manage daily compliance tasks.

                  Join us as we demonstrate how Verafin’s Financial Crime Management platform uses a big data intelligence approach, leveraging artificial intelligence and machine learning to significantly reduce false positives and generate higher quality alerts. You’ll see how Verafin enhances anti-money laundering efforts with complete BSA/AML functionality to strengthen compliance and enhance your ability to detect, investigate and report potentially suspicious activity.

                  Highlights of this software demonstration will include:
                  • Risk-rated targeted BSA/AML alerts and scenarios
                  • High-Risk Customer Management and end-to-end CDD/EDD
                  • Alert threshold testing and performance monitoring
                  • Integrated financial crime Case Management
                  • Automated regulatory reporting of SARs and CTRs
                  • 314(b) Information Sharing
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                    Blog | Defining Moments in the War on Financial Crimes - June 30, 2020 by Jim Richards

                    Blog
                    Defining Moments in the War on Financial Crimes
                    COVID-19 pandemic among major milestones in fifty-year history of the BSA

                    June 30, 2020 by Jim Richards

                    Read the full blog now

                    The COVID-19 crisis has drastically altered how Americans live, work and bank, and the ramifications of the pandemic for the future of the financial industry may be even more profound. From the potential for new legislation to regulatory change, the crisis is poised to have a significant impact on financial crime management and the industry as a whole.

                    In this insightful blog, former top banking executive Jim Richards explores defining moments that changed the BSA/AML landscape, and why the COVID-19 crisis may be counted among those milestones for its significant impact on financial crime management and the industry.

                    Read the full blog now

                      Demo Video | Unusual Access – ACH Agent – Online Account Takeover Detection

                      Demo Video
                      Unusual Access – ACH Agent
                      Online Account Takeover Detection


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                      Online customer accounts are a serious target for sophisticated cybercriminals looking to commit unauthorized transfers. Once an online account has been breached, money can be moved very quickly. This short video highlights Verafin’s targeted agent for Unusual Access – ACH which alerts investigators when an ACH transfer is attempted from an online session which is uncharacteristic for the customer. 

                      Verafin’s Unusual Access – ACH agent detects when a new payee has been added during an unusual online session. This agent also features easy-to-read risk map smart evidence – visual representation of the customer’s digital fingerprint that illustrates up to six months of information and provides daily mapping of online banking access, highlighting access that is out-of-pattern.

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                        Demonstration | Preventing Losses from Check Kiting and Check Fraud Schemes - Join us July 29

                        July 29 at 12:30 PM - 01:30 PM EST
                        Preventing Losses from Check Kiting and Check Fraud Schemes
                        Detecting fraudulent in-clearing checks


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                        Despite the rise of online banking products, criminals continue to exploit traditional transaction channels for fraudulent activity. Checks are particularly vulnerable, as customers and institutions can be victimized by stolen checks, counterfeit checks, or elaborate check kiting schemes.     

                        Join us for a demonstration of Verafin's Fraud Detection and Management solution that leverages machine learning, image analysis and Optical Character Recognition (OCR) to help detect fraudulent checks and reduce false positive alerts. In this presentation, we will demonstrate Verafin’s targeted fraud detection scenarios including Stolen/Counterfeit Checks, Duplicate Check Number, Sequence Number Jump, and Check Kiting.

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                          BSA Market Update – 5 Things You Need to Know in COVID-19 | Webinar

                          Thursday, July 23, 2020
                          2:00 PM ET / 1:00 PM CT
                          Register now

                          In a rapidly changing financial environment, BSA professionals are facing new challenges and obstacles daily with little guidance on how to handle them. Join us for a free webinar featuring a panel of fraud experts and BSA/AML professionals to talk about how financial institutions are handling the challenges associated with COVID-19, the Paycheck Protection Program, and ongoing economic downturn.

                          Join this session to learn:
                          • How financial institutions across the country are handling the economic crisis
                          • Adaptations to adjust to banking in a COVID-19 world
                          • Expert opinions on the rest of 2020 and what it means for financial crime professionals
                          • How to keep your community safe throughout uncertainty
                          Save your seat!

                            Infographic | 10 Tips for Financial Crime Management during the COVID-19 Crisis - Read Now

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

                            Download Now


                            From pervasive fraud scams and counterfeit checks to devastating Business Email Compromise attacks, financial crime management teams are under immense pressure to combat emerging crime and prevent losses during the COVID-19 pandemic.

                            Download our informative infographic, developed in partnership with our 3000 financial institution customers, to learn 10 essential tips to address the growing fraud and AML challenges amidst COVID-19.

                            Download Now

                              Demonstration | Beyond Due Diligence: Best Practices for High-Risk Customer Management - Join us July 22

                              July 22 at 12:30 PM - 01:30 PM EST
                              Beyond Due Diligence: Best Practices for High-Risk Customer Management
                              Special Presentation: Rebroadcast of Virtual Tour Session

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                              CDD/EDD processes are the cornerstone of compliance, and a growing challenge to maintain amid evolving regulations and the COVID-19 crisis. Stay current with Beyond Due Diligence: Best Practices for High-Risk Customer Management — a special rebroadcast of our engaging Virtual Tour event attended by over 2000 financial and compliance professionals this May.

                              “Great presentation! I really enjoyed the insights provided by your team of experts as well as the case content, specific examples and cadence it was presented.” — Attendee, 2020 Verafin Virtual Tour

                              Join industry and product experts as they discuss the latest innovations and issues in high-risk customer management, including COVID-19-related CDD/EDD challenges, the benefits of intelligent segmentation and stratification, and more.

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                              Please note that this rebroadcast of the Virtual Tour Session is not CAMS-accredited.

                                Blog | Industry Advisory: Detecting and Reporting COVID-19-Related Medical Scams

                                Blog
                                Industry Advisory: Detecting and Reporting COVID-19-Related Medical Scams
                                First of multiple FinCEN Advisories to be released with additional Notice to Financial Institutions

                                May 25, 2020 by Verafin

                                FinCEN has released the first of several upcoming advisories to assist financial institutions in combating COVID-19-related financial crimes. This Advisory on COVID-19 Medical Scams outlines red flags for evolving fraud schemes and was published with an accompanying Notice with critical information on BSA obligations and reporting of COVID-19-related criminal and suspicious activity.

                                In this informative blog, we review highlights from this latest guidance and accompanying Notice, and outline how Verafin can help you rise to the challenge of meeting compliance demands and countering COVID-19 crime today.

                                Read the full blog now

                                  Demonstration | Big Data Intelligence and the Way Forward for AML - Join us July 15

                                  July 15 at 12:30 PM - 01:30 PM EST
                                  Big Data Intelligence and the Way Forward for AML
                                  Special Presentation: Rebroadcast of Virtual Tour Session

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                                  Financial institutions are facing serious AML challenges as criminals and compliance demands evolve. Join us for a special rebroadcast of Big Data Intelligence and the Way Forward for AML — our engaging 2020 Virtual Tour event attended by over two thousand registrants this May.

                                  “Excellent scope of topics. Your integrated approach is refreshing and seems to be the way of the future.” — Attendee, 2020 Verafin Virtual Tour

                                  From crime rings to data lakes, our expert presenters will discuss the latest issues, innovations and information to keep you informed and ahead of AML.

                                  Please note that this rebroadcast of the Virtual Tour Session is not CAMS-accredited.

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                                    Demo Video | Unusual Access – Reconnaissance Agent Online Account Takeover Detection

                                    Demo Video
                                    Unusual Access – Reconnaissance Agent
                                    Online Account Takeover Detection

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                                    A cybercriminal’s end goal is to siphon funds out of a victim’s online bank account. Once they gain access to the online account they will often make demographic changes to avoid detection in preparation for moving funds out of your institution. This short video highlights Verafin’s targeted agent for Unusual Access – Reconnaissance which alerts investigators to unusual access to a customer's online banking account before any transactional activity has occurred.

                                    Verafin’s Unusual Access - Reconnaissance agent features analysis of your online banking logs for online events that are out of pattern for your customer, with visual representation in a way that is easy to understand. The alerts also include details about contact information that has been modified online as well as the presence of failed login attempts, to give you the opportunity to suspend online access and get in touch with your customer.

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