Name: Money Mules: Insights at the Confluence of Crime
Start: 2024-12-11T17:00:00Z
End: 2024-12-11T17:00:22.000Z
Location: BrightTALK
Rating: 0

Nasdaq Verafin is the industry leader in enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. 3500 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. 

Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today. 

Verafin is the exclusive provider for Texas Bankers Association, Western Bankers Association, and CUNA Strategic Services, with industry endorsements in 48 U.S. states.

Payments fraud is constantly evolving. Understanding the risk across payment rails can help protect your customers and your institution.

In this on-demand webinar, Head of Fraud Product Strategy Colin Parsons discusses how to protect your institution across multiple payment rails. This discussion will examine:

- The pervasiveness of payments fraud across the globe.
- An overview of risk across multiple payments rails such as wire, ACH and instant payments.
- The human impact of payments fraud scams.
- A real-life survivor story involving Business Email Compromise.
- The value of a consortium approach in protecting your customers and institution.

Originally Presented: October 31, 2024

Protecting your Institution from Evolving Payments Fraud Risk

Originally Presented: August 16, 2024

Last year, NACHA’s ACH Network saw its eleventh straight year of growth exceeding $1 trillion as demand from consumers for electronic payments increased — and fraudsters are following the money. As Business Email Compromise (BEC) and other authorized push payment (APP) scams cause concern in the financial industry, NACHA has issued new rules to strengthen their network against these scams by promoting detection across the entirety of ACH payments — from origination to receipt.

Join Senior Sales Specialist Corey Lynch, and Andrew Muzzatti Lead – Marketing at Nasdaq Verafin, as they do a deep dive into these new rulings, and how Nasdaq Verafin can help navigate financial institutions through this new ACH landscape.

ACH Fraud: Navigating NACHA’s New Detection Rules

Originally Presented: August 1, 2024

Fraudsters have learned to adapt recent advances in technology to target customers using a variety of illicit tactics. Authorized Push Payment (APP) fraud scenarios such as Business Email Compromise (BEC), elder scams and cryptocurrency investment schemes are a growing concern. Meanwhile, organized criminal groups are coordinating efforts to launch sophisticated attacks, developing fraud scams that are impacting customers.

Our webinar looks closely at recent fraud trends to examine how criminals have adapted to circumvent improved security and controls at financial institutions. We also discuss current developments in the industry, focus on the role of technology, and delve into why consortium counterparty analytics and cross-channel intelligence are essential to prevent losses.

Fraud Schemes & Scams: Industry Trends & Consortium Solutions

Originally Presented: June 12, 2024

Criminals exploit the speed at which money moves, and as instant payments adoption grows – time is a fraudster’s biggest advantage. With the power of consortium analytics, financial institutions can harness insights from across the industry to understand the risk on the other end of a transaction and stop instant payments fraud before money leaves your institution. 

Highlights of this expert webinar include:

- New and emerging fraud risks across instant payment channels
- Challenges of scaling and responding to fraud
- The power of consortium analytics for instant payments fraud prevention

Instant Payments: Scaling and Responding to New Fraud Risks

Originally Presented: June 19, 2024

June 15 is Elder Abuse Awareness Day, with the aim to highlight the growth in crimes targeting the elderly population. Vastly underreported, elder financial exploitation (EFE) is estimated to impact countless elderly Americans each year and is a growing concern. Victims can lose their savings and investments – severely impacting their personal well-being and financial security.

The variety of scams impacting elderly victims can oftentimes be tied to other financial crimes and criminal networks. As highlighted in the AML/CFT Priorities, predicate crimes that generate illicit proceeds and are laundered pose a major threat to the financial system. Improving the efficiency and effectiveness of the nation’s AML/CFT regime is essential.

In this panel conversation, industry experts discuss the scope of the problem EFE poses and the role financial institutions play in addressing and preventing them.

Elder Financial Exploitation: Trends and Typologies

Originally Presented: June 26, 2024

In 2023, $21 billion, or 80%, of global check fraud took place in the Americas, primarily the U.S. As complex fraud scenarios such as washed and altered checks grow increasingly prevalent, financial institutions need an innovative solution that is continuously improving, using consortium data to enable machine learning and insight into deposit-side risk.

Industry expert Nick Pearson discusses the challenge of check fraud today, and the power of a multi-faceted approach to prevention — leveraging images, behavioral transactions, and insights into customer risk on both sides of a transaction for more effective detection with fewer false positives.

Check Fraud: Innovating to Advance Prevention

Originally Presented: May 15, 2024

Fraud Awareness & Victim Support Advocate Debby Montgomery Johnson and Colin Parsons, Head of Fraud Product Strategy at Verafin, answer audience questions on romance scams and relationship fraud in this special follow-up to our highly engaging webinar Surviving a $1M Romance Scam: A Personal Perspective for Financial Institutions.

After losing $1 million to a romance scammer, Debby found a new sense of purpose as an industry advocate, dedicating herself to raising awareness about the pervasiveness and risk of romance scams. From insights on the scope of romance and relationship fraud to how to better protect your customers, Debby and Colin address questions from financial professionals in this expert conversation.

Romance & Relationship Fraud: Experts Answer Your Questions

Originally Presented: May 9, 2024

Artificial intelligence (AI) is a hot topic that has the financial industry buzzing about the possibilities. With criminal activity continually growing and evolving, financial institutions are looking to integrate innovative AI approaches to increase efficiency and and strengthen their AML programs.

View our webinar as we explore the newest innovations in AI and how advancements and expertise can help your institution ease the burden of AML investigations.

Innovate with AI: Increase Efficiency and Strengthen AML Compliance

Mail-related check fraud is surging, with check fraud-related SARs filed to FinCEN reaching over 680,000 in 2022. In response to a nationwide surge of stolen check fraud schemes targeting the U.S. mail system, FinCEN has released a new alert to financial institutions, including financial red flags to help identify and report these crimes.

Join Verafin experts for an informative presentation on the latest red flags on stolen check schemes, how Verafin uses the power of consortium analytics to fight check fraud, and why seeing the full picture of fraud and understanding the risk associated with the deposit side of the transaction is essential.

Recognizing the Red Flags: The Rise in Stolen Check Fraud

Romance scams are among the fastest growing frauds. In 2023, estimated losses of $3.8 billion were linked to romance and other confidence schemes. For survivors like Debby Montgomery Johnson, no statistics can capture the mental anguish and emotional consequences these scams inflict.

After losing $1 million to a romance scammer, Debby found a new sense of purpose as an industry advocate, dedicating herself to raising awareness about the pervasiveness and risk of romance scams. In this session, Debby and Colin Parsons, Head of Fraud Product Strategy at Verafin, discuss the scope, scale and impacts of this grievous crime, and why financial institutions and technology are crucial in helping uncover potential exploitation at the earliest opportunity.

Related: 
Register for our follow-up to this webinar, a live Q&A session with Debby and Colin, on May 15 at 12:30 PM EST
https://bit.ly/3WbnwxA 
or visit verafin.com/events for more details.

Surviving a $1M Romance Scam: A Personal Perspective for Financial Institutions

As criminal tactics evolve, financial institutions are struggling to keep pace. Scams such as Business Email Compromise (BEC) and elder financial abuse are costing Americans billions of dollars each year, yet a siloed stand-alone approach to financial crime detection remains the industry standard. Financial institutions need to adopt a new way forward that unites the industry against financial crime and provides a step change in detection through big data. Consortium analytics is that solution. 

Join us for a special webinar as industry experts discuss how Verafin’s consortium analytics provides that step change in fighting financial crime, with a special focus on BEC and elder financial abuse. Discover how consortium analytics use insights from over 420 million counterparty profiles to provide unprecedented insight into the complete picture of transactional risk to reduce false positive alerts and maintain customer convenience while effectively preventing loss from these damaging scams.

Consortium Analytics: Advancing the Fight Against BEC and Elder Abuse

From pervasive fraud scams and counterfeit checks to money mules, financial crime management teams are under immense pressure to combat emerging crime trends and prevent losses.

Join our industry experts for this informative webinar, developed in partnership with our 3800 financial institution customers, as we identify 10 essential tips to address the growing fraud and AML/CFT challenges financial crime management programs face each and every day.

Ten Tips for Financial Crime Management

Artificial intelligence (AI) is one of the hottest topics in technology this year. With the financial industry buzzing about generative AI and ChatGPT, there is also significant debate over the risks and rewards of AI. What has changed in the AI space in 2023? How can financial institutions integrate innovative AI approaches to increase efficiency and and strengthen their AML programs?  

 

Join us for our educational webinar as we explore the newest innovations in generative AI and how advancements in AI can address a litany of AML use cases.

Generative AI: How it can Strengthen your AML program

Elder financial abuse is a significant and growing problem 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 as we discuss the scale of elder financial abuse and outline key considerations from industry publications and guidance, including red flag indicators and best practices for reporting.

In this webinar, you will learn:

- The scale of elder financial abuse and the challenges of preventing fraud targeting senior customers.
- How criminals target elderly and vulnerable customers with lucrative and opportunistic scams. 
- Potential Red Flag Indicators of elder financial exploitation.
- Best practices for reporting this damaging crime, including Suspicious Activity Reporting, and contacting appropriate local and state-level agencies.

Elder Financial Abuse: Best Practices for Financial Institutions

Tune in to this special rebroadcast as we help financial institutions stay in lock step with industry trends and uncover innovative solutions to fight fraud more effectively and efficiently in the year to come.

This insightful year-end webinar, led by our knowledgeable industry experts, explores the financial crime management challenges of 2023, fraud trend considerations for 2024, and the role of technology — such as AI — in the detection and prevention of financial crime.

2023 Fraud Trends & Technology: A Year in Review

As money laundering grows in scale and complexity, financial institutions need efficient technology solutions in place for effective BSA/AML programs. 2023 has been a significant year in financial crime management, and 2024 may bring new challenges for AML investigators and opportunities for financial institutions.

Join us for a special year-end presentation as product experts Geoff Gallant and Corey Lynch explore key financial crime management challenges from 2023, trends to consider for 2024, and the role of technology in detecting and preventing financial crime.

2023 AML Trends & Technology - A Year in Review: What’s on the Horizon for 2024

The burgeoning U.S. cannabis industry is subject to a complex regulatory compliance landscape, with laws differing from coast to coast, at state and federal levels, and varying between cannabis-related businesses, CBD-related businesses, and hemp-related businesses. As profits flourish, financial institutions are facing significant regulatory uncertainty regarding the risks and rewards of banking cannabis-related businesses.

Join Corey Lynch, Product Evangelist at Verafin, for an engaging, educational webinar discussing the intricacies of banking cannabis-related businesses. From informative industry perspectives to the SAFE Banking Act of 2021, stay informed of the importance of effective procedures for segmenting and periodically reviewing cannabis-related businesses with a risk-based approach that aligns with your institution’s risk appetite.

Banking Cannabis-Related Businesses

Money mules are the conduit between fraud and money laundering, facilitating the flow of $3.1 trillion in illicit funds through the financial system in 2023, all while complicating the money trail to disguise criminal activity. Complicit or deceived, and often desperate, these criminals fuel the most heinous crimes imaginable and underpin the world’s financial crime epidemic.

In this educational webinar, Product Expert Corey Lynch explores insights into money mules — from their witting or unwitting recruitment to their role at the confluence of financial crime, laundering funds, hindering AML/CFT controls and helping criminals evade regulatory scrutiny.

Through engaging case studies and expert perspectives, you will learn why innovating and collaborating to disrupt money mule activity is crucial to interrupt the world’s multi-trillion-dollar money laundering problem.

Money Mules: Insights at the Confluence of Crime

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Money Mules: Insights at the Confluence of Crime

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