TOPIC: High Risk Accounts

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

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.

    Free Webinar - Money Laundering Detection with Hybrid Threat Finance | Earn 1 CAMS, CFCS credit and 1.25 CAFP, CFSSP, CRCM credits

    Wednesday, August 28 | 2 p.m. EST/ 1 p.m. CST
    Register today

    Hybrid Threat Finance (HTF) is the study of financial movements and patterns of transnational criminal organizations. Typical detection scenarios do little to detect the real money laundering behavior. Instead they generate high levels of false positive ratios and miss some of the patterns that are indicative of real laundering activity. Precision detection can hone in on the real high-risk behavior within your financial institutions. Training your teams and creating precision detection logic can create a very targeted and effective program for detecting and identifying illicit finance.

    Join to learn:
    • An overview the hybrid threat methodology
    • How to create precision detection scenarios and reduce false positives
    • How to start the journey toward HTF detection
    Earn 1 CAMS, CFCS credit and 1.25 CAFP, CFSSP, CRCM credits

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      Demonstration | Consolidating Fraud Prevention and Management to Reduce Losses & Improve Visibility - Join us August 27

      August 27 at 12:30 PM - 01:30 PM EST
      Consolidating Fraud Prevention and Management to Reduce Losses & Improve Visibility
      Cross-Channel Analytics, Big Data, and Machine Learning to Fight Fraud


      Register Now

      Financial institutions are facing common challenges in combatting fraud. Adding layers of protection to detect and prevent fraudulent activity, managing your alert volume, and reporting losses can become increasingly more difficult if there are multiple detection systems across different fraud and operational teams, and ultimately leads to a lack of visibility into your true fraud problem.

      Join us for this presentation as we discuss the benefits of consolidating your fraud prevention and management functions with Verafin’s Enterprise Fraud Management platform. Learn how to reduce losses, strengthen prevention efforts across all channels and departments, and enable a full picture of fraud at your institution to drive strategic decision-making.

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

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


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        “Although any type of customer account is potentially vulnerable to money laundering or terrorist financing, by the nature of their business, occupation, or anticipated transaction activity, certain customers and entities may pose specific risks.”
        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.

        View Now