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Verafin

Verafin

Stay ahead of technology and financial crime with Verafin, a cloud-based fraud detection and BSA/ALM software provider. Verafin combines fraud and money laundering detection to stay ahead of emerging trends and prevent financial crime at your credit union.

Verafin’s solution combines four elements for the most comprehensive solution in the market:

  • Bank Secrecy Act/Anti-Money Laundering Compliance – Provides automated CTR and SAR reporting as well as automated BSA record keeping
  • Fraud Detection – Detects fraudulent activity (debit, check and account fraud) and reduces losses
  • FACTA Red Flags – Facilitates creation of red flags and configuration by type, assigns investigation/expiration to flagged accounts, verifies SSN, checks against internal watch lists, and mines for suspicious personal ID information
  • Watch List & 314(a) Checking – Checks people, vendors and businesses against the OFAC SDN list, performs 314(a) searches, checks incoming and outgoing wires and flags positive matches, alerts compliance officer, accommodates fraud lists and internal watch lists, and maintains exemption lists

Trace SecurityTraceSecurity

TraceSecurity is a cloud-based security solution that provides risk management and compliance solutions for credit union that need to protect critical data or meet IT security mandates. TraceSecurity provides credit unions with a holistic view of their security landscape and enables them to achieve effective data protection and automatic compliance. TraceSecurity offers:

  • Security assessments
  • Risk assessments
  • IT security audits
  • Penetration testing
  • Social engineering
  • Application testing
  • Information security employee awareness training
  • Wireless assessment

For more information, contact your member engagement representative.

 

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TraceSecurity