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Verafin reports 57 hike in clients

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ST. JOHN’S, Newfoundland (7/19/11)--Verafin Inc., a provider of compliance, anti-money-laundering (AML) and fraud-detection software, reported a 57% increase in customer acquisition in the first half of 2011. The company has surpassed 700 customers, finishing the second quarter with nearly 750 clients. Verafin is a CUNA Strategic Services provider. The company provides a combined fraud-detection and AML solution that uses artificial intelligence and behavior pattern-based recognition. Bringing fraud-detection and AML (FRAML) processes together alerts compliance officers of suspicious behavior and anomalies while complying with Bank Secrecy Act and AML regulations.