Case Study Breaking down walls. Ready to break out of a siloed approach to detecting suspicious activity, BankNewport turns to Verafin to help them develop a more complete overview of customer activity. The situation. The security team at BankNewport wanted to improve their BSA/AML and fraud processes, but they were lacking the tool to get there. Although the fraud detection group and Anti-Money Laundering (AML) group had a single reporting structure in place, they were still missing that “something”; the glue that would tie them together and melt away the siloed thinking that plagued the groups within the team. Using labor-intensive manual detection processes that relied on hefty transaction reports was time-consuming and ineffective. Frustratingly, Lesley Vogt-Behan, VP of Comp

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