Case Study In just one month, Verafin’s innovative fraud detection analytics help a California-based FI prevent over $55,000 in potential fraud loss. The institution’s success illustrates the value of innovation in the early detection of fraudulent activity. With a rapidly expanding customer base and the potential risk that comes with it, the fraud detection team at this California-based financial institution was struggling to identify financial crime. They needed an innovative approach to help them stay a step ahead of efforts to uncover and quickly shut down financial crime. Putting a stop to crime rings Before using Verafin the team struggled to identify fraudulent activity, often relying on contact from its customers to initiate an investigation. One problem plaguing the insti

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