TOPIC: Best Practices

Business Analytics AMS/PAL - Combining report with Premier package

Employee at a bank ($366MUSA)
We recently implemented the Activity Management System/Premier Audit Log (AMS/PAL) package within Business Analytics and would like to see additional field information that is not available in this reporting package. I was given instructions on how to "combine 2 reporting packages into 1 report using the SQL" from Fiserv but they don't support this type of functionality at client care, it can only be requested through Professional Services. The steps aren't complicated and I have attempted to combine the AMS/PAL package with the Premier package using the instructions but still can not get it to work. Has anyone been successful in accomplishing this that would be willing to assist me?

Thank you in advance!

    Twitter virtual currency hack- keyword search

    Employee at a bank ($402MUSA)
    Does anyone have a list of keywords they would be willing to share in order to search for this attack? Thank you

    7/16/2020 "FinCEN Alerts Financial Institutions to Convertible Virtual Currency Scam Involving Twitter
    The Financial Crimes Enforcement Network (FinCEN) is emphasizing a high-profile scam exploiting Twitter accounts to solicit fraudulent payments denominated in convertible virtual currency (CVC). Cyber threat actors compromised the accounts of public figures, organizations, and financial institutions to solicit payments to CVC accounts, claiming that any CVC sent to a wallet address would be doubled and returned to the sender. It is critical that CVC exchanges and other financial institutions identify and report suspicious transactions associated with this type of activity as quickly as possible.  Read the alert here."

      Managing Trust Accounts From Inception of Membership

      Employee at a credit_union ($213MUSA)
      This may sound simple, but I want your opinion from a compliance and best practices approach to managing TRUST accounts!

      Member A "Trust" account is opened with two trustees on the Trust.  How do you set up account, in the name of the trust and the age for the Trust account is based on the date the Trust was established?  Or do you set up the Trust account and the first Trustee named on the trust would be reflected and the profile detail would be used for this trustee, age, email, contact detail, etc.

      In review of our core data we have entries in several different ways, probably as a result of change of management over the years.
      I appreciate your response.

      Thanks, Sharron

        Welcome Letter during acquisition

        VP at a bank ($135MUSA)
        Our bank is in the process of an acquisition and this is the first one I have participated in as the Compliance/BSA Officer, so any guidance or advice is much appreciated!  My first question is about a "welcome letter or cover letter" that I have seen referenced on this site many times under Mergers/Acquisitions.  Apparently this "letter" is used to cover much of the required disclosures and is sent 30 days prior to conversion.  We will be converting all of the accounts at the acquired institution to our current products.  The letter can highlight all the changes for the account types, schedule of fees, funds availability and Reg E disclosure.  Would anyone have a sample of what they provided to their customers during an acquisition they wouldn't mind sharing?   I am just wondering how to present this material without overwhelming the customer.  
        Please don't hesitate to give any suggestions, as any information would be appreciated and I would be very grateful for the help.   

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

          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

            Register Now

            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.

            Register Now

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

              Free Virtual Event: Ancient Artifacts, International Intrigue and Financial Crimes

              VP at a bank ($24.7BUSA)
              The ACAMS San Diego - Baja CA July Virtual Event:
              Ancient Artifacts, International Intrigue and Financial Crimes

              Speaker: Liz Fraccaro, Project Director - Financial Crimes Task Force at the Antiquities Coalition

              *TWO WEEKS AWAY!*
              July 20, 2020
              10:00 AM - 11:00 AM PST
              1 CAMS credit (Please note that CAMS credit for this virtual event is available to members of the Chapter only.)

              For more info on the Chapter, please visit

              This program will be hosted on Zoom.
              For those who register, instructions for joining the virtual event will be sent via email from the closer to the event.

              Registration closes on Thursday, July 16th.

              Questions? Email

              We look forward to "seeing" you!

                Demonstration | Fraud Trends and Technology: Rebroadcast of Virtual Tour Session - Joins us July 8

                July 08 at 12:30 PM - 01:30 PM EST
                Fraud Trends and Technology
                Special Presentation: Rebroadcast of Virtual Tour Session

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                As financial institutions face growing challenges from fraudsters and evolving schemes, Verafin is pleased to offer a timely rebroadcast of our Fraud Trends and Technology session from the 2020 Virtual Tour. With over two thousand registrants in May, this engaging event will keep you informed and ahead of the latest developments in fraud.

                “A great session, very informative… with great speakers.” – Attendee, 2020 Verafin Virtual Tour

                Join industry and technology experts as they discuss evolving scam scenarios, including Business Email Compromise and check schemes, COVID-19-related scams, industry warnings, and solutions to prevent losses.

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

                Register Now

                  Optimizing Your Digital Banking Experience for the New Normal

                  The Coronavirus crisis has forced the banking world to compress years of change into weeks.

                  For much of the last few years, the focus has been on the technology required to enable digital banking transactions. As we adjust to the realities of the new normal and fewer face-to-face in-branch interactions, banks and credit unions must now deliver an excellent customer experience, digitally.

                  Register for this webinar on Thursday, June 25th at 2 pm to learn actionable steps and best practices that  banks and credit unions of any size can easily implement that will allow you to: 
                  • Improve the customer experience by providing automated self-service 
                  • Increase technology adoption while reducing the number of calls and emails
                  • Drive more product adoption via your mobile and online banking 

                  We'll be sharing a free digital self-assessment your institution can use to identify areas for improvement in your digital banking experience.

                  Can't make it? Register anyways and receive a copy of the recording to watch when you have a chance!

                    Webinar - 1 CAMS Credit | Elder Financial Abuse - Join us June 30

                    June 30 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 devastating crime that is growing in prevalence as bad actors exploit the fear and uncertainty of vulnerable customers during the COVID-19 crisis.

                    Join our expert panel including industry expert Jim Richards, former BSA Officer at Wells Fargo, Zane Morgante, CFE and Loss Prevention Manager at Bank OZK, and Corey Lynch, Verafin product expert, as they share cross-industry perspectives on elder financial exploitation, including emerging COVID-19-related scams, red flag indicators, best practices for detection, and more.

                    Register Now

                      Webinar - 1 CAMS Credit | Stay Ahead of Emerging Trends: Practical Advice from Peers & Industry Experts - Join us June 24

                      June 24 at 12:30 PM - 01:30 PM EST
                      Stay Ahead of Emerging Trends: Practical Advice from Peers & Industry Experts
                      Complimentary ACAMS Webinar Rebroadcast

                      1 CAMS credit
                      Originally presented: May 28, 2020

                      Register Now

                      The COVID-19 crisis has highlighted existing weaknesses in current anti-financial crime approaches and the inflexibility of legacy detection systems to keep pace with evolving criminal activity. The need for scalable, agile solutions that can quickly adapt to emerging financial crimes has never been more acute.

                      Join an engaging panel including Brendan Brothers, Verafin Co-Founder; Jim Richards, Founder and Principal of RegTech Consulting LLC; and banking industry representatives Patrick Dutton, Regional Head - Intelligence, Analytics, and Systems Delivery at HSBC; and Stephanie Zirin, Vice President and Fraud Analysis Manager at Eastern Bank. These speakers will share success stories and practical advice for institutions to help improve the efficiency and effectiveness of financial crime management programs.

                      Register Now

                        2020 Verafin Virtual Tour | Fraud Detection & BSA/AML Online Event - Join us Jun 17

                        2020 Verafin Virtual Tour
                        Fraud Detection & BSA/AML Online Event

                        June 17, 2020 from 12:00pm - 5:00pm EST

                        Register Now

                        Join hundreds of attendees from coast to coast for our next Verafin Virtual Tour on Wednesday, June 17, 2020 from 12:00pm – 5:00pm EST. Complimentary and online, this leading industry event is available wherever you are — and experiencing our exceptional presentations on the hottest topics, including COVID-19-related financial crime, has never been easier.

                        We are thrilled to have Jim Richards, former Director of Financial Crimes Risk Management at Wells Fargo, join the Virtual Tour as our featured speaker to provide invaluable insight and perspective as an industry expert.

                        Our agenda will feature discussion on the ongoing COVID-19 pandemic and the ways this has impacted financial institutions. We will examine new challenges for AML compliance, the types of COVID-19-related fraud scams that have emerged and how we can help you protect your customers.

                        Participate in live Q&A sessions with industry experts that will take place after each presentation. A full team of experts will be available to respond to your questions live – ask questions directly to our team during sessions on fraud, AML and high-risk customer management. Any questions that are not addressed during the event will be followed up on shortly afterwards by our team.

                        Attendees will also have the unique opportunity to participate in interactive polls on crisis-related trends, the future of AML, best practices for high-risk customer management, and fraud trends and technology.  Provide your feedback on current trends and challenges to see how it compares with over a thousand of your peers.

                        Attendees will receive 5 CAMS, 6 CAFP, 6 CRCM credits, or up to 5 Continuing Professional Education (CPE) credits towards industry accreditation programs, such as CFE and CFCS.

                        Visit the Tour website for up-to-date event details, to download the agenda and register for free.

                        Register Now

                          2020 Verafin Virtual Tour  - Join us June 17

                          2020 Verafin Virtual Tour  Fraud Detection & BSA/AML Online Event  5 CAMS credits | 6 CAFP credits | 6 CRCM credits
                          Register Now

                          Registration is now open for the 2020 Virtual Tour taking place Wednesday, June 17, 2020 from 12:00pm – 5:00pm EST.   

                          This complimentary, online event features insightful presentations that highlight emerging fraud and compliance trends, including those related to the current COVID-19 crisis, along with the latest technologies to fight financial crime. During this interactive event you’ll have the opportunity to chat with technology and product experts during live Q&A sessions, and take part in polls and interactive elements. Join your peers at this industry-wide event, and hear our expert speakers dive into hot topics like:
                          • Fraud Risks and Compliance Challenges During the COVID-19 Crisis
                          • Evolving Fraud Trends and Technology: BEC Fraud, Card Compromise, Check Fraud Schemes 
                          • Industry Reflections and Predictions with Special Guest Jim Richards  
                          • Big Data Intelligence and the Way Forward for AML  
                          • Best Practices for High-Risk Customer Management
                          Attendees will receive 5 CAMS, 6 CAFP, 6 CRCM credits, or up to 5 Continuing Professional Education (CPE) credits towards industry accreditation programs, such as CFE and CFCS.    

                          To review the agenda and reserve your spot, visit the Virtual Tour website.

                          Register Now