Case Study: Capitol Federal Savings Bank Prevents $350,000 in Check Kiting Losses with Verafin

Capitol Federal Savings Bank - Customer Case Study

Capitol Federal Savings Bank (CapFed) needed a more effective way to automate AML/BSA and fraud detection after moving away from manual methods. The bank’s Financial Intelligence Unit (FIU) used Verafin’s cloud-based FRAMLx platform to help monitor suspicious activity and investigate alerts across the institution.

With Verafin’s fraud analytics, Case Management, and SAR tools, CapFed was able to identify and stop a check kiting scheme early, working with other banks and placing holds on checks before losses grew. The result was more than $350,000 in prevented losses, stronger investigations, and positive feedback from law enforcement on the quality of the bank’s reporting.

Capitol Federal Savings Bank

Angela Lowe

Vice President and Account Security Manager