TOPIC: Money Service Business

Demonstration | End-to-End High-Risk Customer Management & CDD/EDD - Join us June 9

June 09 at 12:30 PM - 01:30 PM EST
End-to-End High-Risk Customer Management & CDD/EDD
Segmentation, Stratification, Surveillance & EDD Workflows for High-Risk Customers

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How accurate is your institution’s customer risk profile? A one-size-fits-all approach to customer risk can lead to thousands of high-risk customers being flagged for continuous review, increasing your workload.
 
Verafin’s end-to-end solution for High-Risk Customer Management and CDD/EDD helps you effectively manage higher-risk categories of customers, including ATM owners, MRBs, MSBs, NGOs, and more.

Join us as we demonstrate how Verafin identifies and categorizes high-risk customers, and stratifies the risk within each category. Through ongoing surveillance, Verafin provides a more accurate picture of your institution’s risk profile to strengthen your end-to-end CDD/EDD program.

Register Now

    Online Gaming - Buying and selling game "skins"

    AVP at a bank ($413MUSA)
    Does anyone have any experience with their customers that are a 'middle-man' for online gamers who purchase and sell virtual items for the games?  We have a customer that recently started doing this the past two months (while all the social distancing is going on - lots of people playing games).  He has a few different checking accounts and all are being used in high volume with Google pay, cash app, Venmo and additional mobile check deposits.  He's written very large checks to another person to buys his inventory (probably over $75,000 total in two months).  He's been very up front about what he's doing but I have no experience with this type of activity.  Looking at online articles, there is a legitimate 'business'  that people have made with this.  
    I'm just not sure where I should take it from here.  Should I get new CDD/EDD questions answered?  Should we ask the customer to somehow make this a legitimate business?  (he's using personal accounts and a business account that he's had opened for some time for something else).  With the high volume of transaction between all the accounts, I'm afraid I would miss money laundering if it were occurring.
    Any knowledge in this industry would be appreciated.
    Thanks!

      Demonstration | End-to-End High-Risk Customer Management & CDD/EDD - Join us April 22

      April 22 at 12:30 PM - 01:30 PM EST
      End-to-End High-Risk Customer Management & CDD/EDD
      Segmentation, Stratification, Surveillance & EDD Workflows for High-Risk Customers

      Register Now


      How accurate is your institution’s customer risk profile? A one-size-fits-all approach to customer risk can lead to thousands of high-risk customers being flagged for continuous review, increasing your workload.

      Verafin’s end-to-end solution for High-Risk Customer Management and CDD/EDD helps you effectively manage higher-risk categories of customers, including ATM owners, MRBs, MSBs, NGOs, and more.

      Join us as we demonstrate how Verafin identifies and categorizes high-risk customers, and stratifies the risk within each category. Through ongoing surveillance, Verafin provides a more accurate picture of your institution’s risk profile to strengthen your end-to-end CDD/EDD program.

      Register Now

        Demonstration | End-to-End High-Risk Customer Management & CDD/EDD - Join us March 11

        March 11 at 12:30 PM - 01:30 PM EST
        End-to-End High-Risk Customer Management & CDD/EDD
        Segmentation, Stratification, Surveillance & EDD Workflows for High-Risk Customers

        Register Now


        How accurate is your institution’s customer risk profile? A one-size-fits-all approach to customer risk can lead to thousands of high-risk customers being flagged for continuous review, increasing your workload.
         
        Verafin’s end-to-end solution for High-Risk Customer Management and CDD/EDD helps you effectively manage higher-risk categories of customers, including ATM Owners, MRBs, MSBs, NGOs, and more.

        Join us as product experts demonstrate how Verafin applies advanced analytics and Robotic Process Automation to identify risk factors and segment customers into high-risk categories, stratify the risk within those groups and, through ongoing high-risk customer surveillance, provide a more accurate picture of your institution’s risk profile, strengthening your end-to-end CDD/EDD program.

        Register Now