Mail-related check fraud is surging. In 2022, check fraud-related SARs filed to FinCEN reached over 680,000, almost doubling the previous year’s number of filings. In response to a nationwide surge of stolen check fraud schemes targeting the U.S. mail system,...  The post Criminals Cash in on Stolen Checks: FinCEN Releases 10 Red Flags for Mail-Related Check Fraud appeared first on Verafin ..read more

Payment fraud is a challenge that is pervasive in the financial industry, and a threat to financial institutions of all sizes. As the talk of a liability shift for consumer-related payment fraud gains momentum within regulatory spheres, additional pressure is...  The post From the Cloud: Deep Insights into Wire Fraud Trends appeared first on Verafin ..read more

Regulatory enforcement is rapidly evolving for crypto companies and manual processes are costing you more. As fines for compliance violations increase, staying ahead of regulatory requirements is a necessity for crypto companies, to avoid financial penalties and damage to your...  The post Scale to Prevail: Five Benefits of Proactively Scaling your Compliance Platform appeared first on Verafin ..read more

For crypto companies, the immense challenge of navigating the  multitude of regulators, escalating number of fines, and evolving landscape of compliance is overwhelming. Crypto companies are facing increased pressure to remain compliant, while avoiding penalties and reputational damage. The Current...  The post Big Lessons for Crypto Companies From Even Bigger AML Fines appeared first on Verafin ..read more

The “crypto winter” has temporarily frozen many crypto company’s capabilities. As companies compensate for current challenges with budgetary reductions and increased layoffs, companies are continuously asking themselves how they can do less with more. Increased regulatory scrutiny and impending compliance...  The post Automating for Efficiency appeared first on Verafin ..read more

The landscape of financial crime is evolving – both for traditional financial institutions and crypto companies. As financial institutions advance anti-financial crime programs to maintain regulatory compliance and combat fraud, there are valuable lessons that crypto companies can use to...  The post Learning from the Past for a Lucrative Future appeared first on Verafin ..read more

Looking to the past can help us determine the course for the future. This is an important lesson for financial institutions looking to protect themselves and their customers from fraud. Financial institutions are facing a magnitude of fraud schemes, each...  The post Fraud Trends and Technology 2023 appeared first on Verafin ..read more

Keeping pace with the growing complexity of financial crime was a challenge for financial institutions in 2022 – finding a balance between meeting customers’ needs for faster, frictionless banking while managing regulatory scrutiny is no easy task. Investigators striving to...  The post AML Trends and Technology 2023 appeared first on Verafin ..read more

Payments fraud is an increasingly complex threat to financial institutions and consumers alike. As wire fraud attempts surge against individuals, especially for seniors, there is a growing debate surrounding mandatory victim reimbursements for Authorized Push Payment (APP) fraud. With a...  The post Fraudsters Focusing on Higher Value Wire Scams appeared first on Verafin ..read more

Anatomy of a Crypto Hack: Digital Funds, Real-World Consequences While cryptocurrency exists in a digital space, criminals leveraging crypto can have a significant impact on the traditional financial industry. Tracking the flow of funds across blockchain to fiat is essential...  The post Anatomy of a Crypto Hack: Digital Funds, Real-World Consequences appeared first on Verafin ..read more