PORTLAND, Ore. – OnPoint Community CU said it has signed with Verafin to install the company’s Bank Secrecy Act/Anti-Money laundering compliance and fraud detection software.
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The system ensures compliance with the Bank Secrecy Act, USA Patriot Act and FACTA Red Flag regulations.
Verafin uses a next generation behavior-based AML system. Its advanced artificial intelligence replicates human reasoning, which creates member profiles and performs transaction monitoring to detect suspicious and fraudulent activity.
