Name: Entity Resolution, Counterparty Data and Link Analysis for AML Efficiency
Start: 2022-10-13T16:00:00Z
End: 2022-10-13T16:01:03.000Z
Location: BrightTALK
Rating: 0

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.

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

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

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

In the current economic climate, the need for greater efficiency in AML/CFT programs is acute. Financial institutions are facing high volumes of false positive alerts, inefficient alert triage and investigations, and lack of single systems of record. With a unique approach, Verafin integrates, resolves, and enriches data from across hundreds of data sources and thousands of institutions across the Cloud. Through automated entity resolution and enriched counterparty data, Verafin’s powerful link analysis and investigation tools empower fraud, AML/CFT and complex investigations teams to expedite decision making and confidently address truly suspicious activity. 

Join our Product Experts as they discuss the anti-financial crime challenges faced by institutions relying on legacy AML approaches, and how institutions can use data-driven technology solutions to increase the efficiency and effectiveness of AML/CFT programs.

Entity Resolution, Counterparty Data and Link Analysis for AML Efficiency

Fraudsters are adapting to technology advances and targeting your customers with a variety of illicit tactics. With Authorized Push Payment (APP) fraud scenarios such as Business Email Compromise (BEC), elder scams and cryptocurrency investment schemes a growing concern, and organized criminal groups launching sophisticated attacks, the threat of fraud scams may be greater than ever.

Join us for an engaging webinar on emerging fraud trends and how criminals have adapted to circumvent improved security and controls at financial institutions. Our experts will discuss current developments in the industry, and the role of technology, including Consortium-based Counterparty Analytics and Cross-Channel Intelligence, in preventing loss.

Highlights from this industry-leading webinar include:

- Insights into fraud scams perpetrated across multiple payments channels
- Analysis of industry trends seen in the Verafin Cloud
- Potential industry impacts of liability shift changes
- The need for collaborative frameworks across the industry
- The role of technology in fraud mitigation, including Consortium-based Counterparty Analytics and Cross-Channel Intelligence

Fraud Schemes & Scams: Industry Trends & Consortium-Based Solutions

By following the money, financial institutions and investigators play a critical role in the fight against human trafficking – helping to uncover the perpetrators and protect victims of this heinous crime. Human trafficking is a complex and challenging problem for investigators to solve. At Verafin, we have worked directly with advocates, investigators, and law enforcement to gain a crucial understanding of the key financial indicators of this crime.

Join us for a replay of this educational webinar to learn about the scale of modern slavery, human trafficking typologies and financial indicators, as well as considerations for institutions in investigating and reporting potential trafficking activity.

Navigating the Rising Challenge of Human Trafficking

The financial industry’s approach to combating financial crime is constantly evolving, but many challenges remain. Criminals continue to develop new illicit tactics, driving an increase in SARs, growing regulatory fines, and trillions in laundered funds. The reality is no institution can be effective alone — collaboration between institutions is essential to combat financial crime.

For twenty years Verafin has used Collaborative Frameworks to fight financial crime. Join us for an educational webinar to learn what Collaborative Frameworks are, and how layering these frameworks together is a powerful approach for decisive action against criminal activity.

Highlights of this engaging webinar include:

- Discussions on why Collaborative Investigations are important to successfully fighting financial crime.
- An overview of how layering frameworks together can increase the effectiveness of AFC programs.
- An exploration of the role of Information Sharing and why it is important to your institution.

Collaborative Frameworks for Information Sharing

With the continuing rise in digital banking and increased demand for consumer convenience, 2022 saw significant challenges as fraudsters capitalized on opportunities to exploit the financial system.

Join us for a year-in-review webinar exploring key financial crime management challenges from 2022, fraud trends to consider for 2023, and the role of technology in detecting and preventing financial crime. In this special rebroadcast, our experts discuss innovative solutions to remain ahead of industry trends today, and how technology can help your institution prepare to combat fraud more efficiently and effectively in the year ahead.

Highlights and objectives from this webinar include:

- Review insights into emerging fraud trends from the Verafin Cloud 
- Explore evolving fraud schemes targeting payments channels such as wire and ACH 
- Examine how counterparty data can reduce false positives and enable collaborative, consortium investigations to provide actionable intelligence to law enforcement 
- Discuss how technology solutions using consortium analytics and artificial intelligence can help fight financial crime

2022 Fraud Trends & Technology

As money laundering grows in scale and complexity, financial institutions need efficient technology solutions in place for effective BSA/AML programs. 2022 was a significant year in financial crime management, and 2023 may bring new challenges for AML investigators and opportunities for financial institutions. 

Join us for a special rebroadcast presentation exploring key financial crime management challenges from 2022, trends to consider for 2023, and the role of technology in detecting and preventing financial crime. Our experts will discuss innovative solutions to remain ahead of industry trends today, and how technology can help your institution prepare to combat money laundering and financial crime more efficiently and effectively in the year ahead. 

Highlights and objectives from this educational webinar include: 

- Explore efficient and effective BSA/AML compliance processes, and the changing BSA/AML landscape 
- Learn how technology solutions including entity resolution and link analysis can save valuable time and resources for more efficient AML investigations 
- Examine how counterparty data can reduce false positives and enable consortium-based collaborative investigations to provide actionable intelligence to law enforcement 
- Explore how technology solutions using consortium-based analytics and artificial intelligence can help fight financial crime

2022 AML Trends & Technology

314(b) Information Sharing

BSA/AML Compliance

anti-money laundering

Due Diligence

money laundering

complex investigations

Compliance

Risk Management

Internal audit and compliance professionals are facing increasingly stringent regulatory requirements when it comes to compliance reporting and internal control procedures. Join the audit and compliance community to learn best practices from thought leaders on topics such as regulatory compliance, internal audit checklists and audit program strategies.

Audit and Compliance

Effective financial management strategies can help organizations meet their business objectives. The financial management community on BrightTALK is made up of engaged finance and accounting professionals. Find relevant webinars and roundtable discussions featuring financial planning advice from industry thought leaders and insights into optimizing financial reporting, accounting, risk management and value measurement.

Financial Regulation

Get powerful banking and treasury insights for your business. Connect with experts and colleagues to get the most up-to-date knowledge on hot topics such as digital banking, payments disruption and non-bank competition. Learn how the latest treasury management strategies are helping to mitigate operational, financial and reputational risk.

Banking and Treasury

Join this new, vibrant community to learn and connect with top thought leaders, startups and banks who are disrupting the financial services industry. Keep up with the latest news and trends in Fintech and take part in lively debates on topical issues and challenges.

Fintech

The accounting and finance community on BrightTALK features presentations from leading accountants and finance professionals. The accounting community includes tax planning strategies, QuickBooks webinars and other accounting webinars, while the finance community features presentations on financial capital regulations and forensic data analytics. Join the conversation by attending live financial and accounting presentations and connecting with industry thought leaders.

Entity Resolution, Counterparty Data and Link Analysis for AML Efficiency

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