Powered by technology available in the Verafin Cloud, FRAMLx delivers advanced cross-institutional analysis to detect suspicious activity across multiple institutions.
This solution fills a gap in fraud detection and anti-money laundering efforts as it provides a broad view over multiple financial institutions through information sharing provided by Section 314(b) of the USA PATRIOT Act.
Verafin is a provider of cloud-based fraud detection and anti-money laundering (FRAML) solutions for financial institutions across North America. Its software utilizes behavior-based analytics that allows banks and credit unions to stay a step ahead of fraud trends and the BSA, USA PATRIOT Act, and FACTA compliance landscape.
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