TOPIC: SAR

Demonstration | BSA/AML Compliance and Management - Join us August 29

BSA/AML Compliance and Management
Uncover Suspicious Activity & Strengthen BSA/AML Compliance

August 29 from 12:30 – 1:30 PM EST

Register Now

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 a higher quality of 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
  • Secure 314(b) Information Sharing
Register Now

    Blog | Improving your risk-based CDD with intelligent categorization - Read the full blog now

    Blog
    Improving your risk-based CDD with intelligent categorization
    How segmentation improves both the effectiveness and efficiency of your customer due diligence procedures for higher-risk categories


    Read the full blog now

    With expanding regulatory expectations toward CDD/EDD risk management and shrinking compliance resources, the question on the minds of many BSA/AML compliance professionals is, “How can we manage this?” 
     
    The answer is by applying intelligent categorization — but what does that mean?

    Not all high-risk customers pose the same level of risk to an institution. Therefore, applying the same level of ongoing due diligence to all high-risk customers is incredibly inefficient. In this blog, you will learn how intelligent categorization allows for more tailored and effective management throughout the customer relationship, including:
    • Identification of high-risk customers and categorizing them into high-risk groups.
    • Risk Stratification to address how risk differs within each high-risk category.
    • EDD Review Workflows that centralize processes, automate tasks, and integrate with ongoing monitoring and risk assessment.
    • Surveillance that applies targeted analytics to specific groups, monitoring them for unusual activity and risk factors.
    Read the full blog now

      Demonstration | BSA/AML Compliance and Management - Join us July 3

      Demo
      July 03 at 12:30 PM - 01:30 PM EST
      BSA/AML Compliance and Management
      Uncover Suspicious Activity & Strengthen Compliance


      Register Now

      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 a higher quality of 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
      • Secure 314(b) Information Sharing
      Register Now

        Free Webinar Thursday: Elder Financial Exploitation | Earn 1 CAMS, 1.25 CAFP, 1.25 CFSSP, and 1.25 CRCM credits

        Thursday, June 20 | 1 p.m. CST/ 2 p.m. EST

        Elder financial exploitation is a growing concern in our communities, and the more the U.S. population ages the faster crimes against the elderly will grow. Financial institutions have a unique position to observe this early and stop the activity prior to a victim being left financially destitute. In fact, in most states financial institution employees are mandatory reporters of elder abuse. This session will help you identify elder financial abuse in your community and help stop it before it’s too late.

        Join to learn:
        • Learn the red flags of elder financial exploitation
        • How to train your front-line staff in identifying this crime
        • When and how to properly file a SAR in an elder financial exploitation case
        • Who to report in your state(s) and whether you’re a mandatory reporter
        Register here: https://www.abrigo.com/webinars/elder-financial-exploitation-hidden-crime/

          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

          Read more

          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

            Webinar - 1 CAMS Credit | Elder Financial Abuse - Join us June 13

            June 13 at 12:30 PM - 01:30 PM EST
            Elder Financial Abuse
            Best Practices for Financial Institutions for Early Detection & Timely Reporting

            1 CAMS CREDIT

            Register Now

            Elder financial abuse is a significant and growing issue that has devastating effects on individuals and families. Believed to be largely underreported — financial institutions are facing increased responsibility to help combat the exploitation of vulnerable customers.

            Join us for this CAMS-accredited webinar, as we discuss the scale of elder financial exploitation and outline key considerations and guidance from industry publications, including red flag indicators and best practices for reporting.

            In this webinar, you will learn:
            • The scale of elder financial exploitation and the challenges of preventing it
            • Potential red flag indicators of elder financial exploitation from FinCEN’s 2011 Advisory
            • Best practices for reporting elder financial exploitation, including Suspicious Activity Reporting, and contacting appropriate local and state-level agencies
            Register Now