Fraud Prevention and Management — What’s the Difference?

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Verafin

About this talk

As financial institutions add additional layers of protection to detect and prevent fraudulent activity, managing your alert volume, tracking dispute, and reporting losses can become increasingly more difficult if there are multiple detection systems across different fraud and operational teams.   Join us for a 20-minute session on the benefits of consolidating fraud prevention and management functions with a quick overview of Verafin’s Enterprise Fraud Platform. Learn how to reduce losses, get a complete picture of true fraud, and meet compliance requirements for filing SARs on fraudulent activity.   Highlights of this 20-minute presentation: - Comparison of Fraud Management versus Fraud Prevention and how siloed processes and teams create inefficiencies, as fraud continues unabated. - Review of principles of Fraud Management including the activities that increase or decrease the likelihood of loss. - Overview of Verafin’s Fraud Prevention and Management capabilities for deposit, check, card, wire/ACH, online and loan fraud, as well as reporting, automated SAR efiling, overdraft charge-offs, card fraud disputes, and more.

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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.