Verafin Inc., today released a white paper that discusses the increasing organization and complexity surrounding human trafficking and organized crime and the money laundering activity that accompanies it.
Online PR News – 04-May-2011 – – St. John’s, NL, May 02, 2011 -- Verafin Inc., ( http://www.verafin.com ) a leading provider of compliance, anti-money laundering (AML) and fraud detection software, today released a white paper that discusses the increasing organization and complexity surrounding human trafficking and organized crime and the money laundering activity that accompanies it.
The white paper ( http://information.verafin.com/LP=11?CID=701C0000000cVDc ) is the latest research by Verafin’s team of analytics researchers, who believe it is essential to keep ahead of emerging financial crime trends in order to better help detect them. In this paper Bank Secrecy Act (BSA) compliance professionals will learn:
* How criminal activities such as human trafficking and organized crime are leading to complex money laundering problems;
* About the increased pressure and substantial fines state and federal regulators are applying to non-compliant financial institutions;
* How next generation, anti-money laundering technology can help uncover complex money laundering scenarios.
Finally, the white paper ( http://information.verafin.com/LP=11?CID=701C0000000cVDc ) outlines three complex money laundering scenarios that offer insight into how criminals involved in complex criminal activities attempt to clean their illegal funds. Each scenario also illustrates how Verafin’s advanced, next generation analytics generate clear and relevant alerts that present information in a visual, easy-to-understand format. All alerts are scored based on their risk to the financial institution and contain evidence indicating the nature of the suspicious activity, letting users act quickly to stop destructive activity.
Verafin is an award-winning and intelligent solution that combines fraud detection and anti-money laundering (AML), while providing complete visibility into customer activity, ensuring comprehensive compliance reporting. Easy to use and implement, it is the only solution in the financial services industry that combines fraud detection, anti-money laundering, and regulatory reporting with behavior-based customer monitoring technology in a single platform.
Verafin is a leader in anti-money laundering and fraud detection solutions for financial institutions, with over 650 customers that span nearly 60 core processing systems and a broad asset range. Verafin helps financial institutions comply with the Bank Secrecy Act, USA PATRIOT Act, and FACTA regulations, while also helping to protect against fraud. Verafin is the exclusive provider of BSA/AML and fraud detection software for the California Bankers Association ( http://www.calbankers.com ), Massachusetts Bankers Association ( http://www.massbankers.org ), CUNA Strategic Services ( http://www.cunastrategicservices.com ) and 40 credit union leagues and associations in the United States. For more information, visit http://www.verafin.com, email us at FRAML@verafin.com or call 1-866-781-8433.
© 2011 Verafin Inc. All rights reserved.
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