Case Study: Merck Sharp & Dohme uncovers hidden suspicious activity with Verafin

Merck Sharp & Dohme - Customer Case Study

Merck Sharp & Dohme, a credit union, needed a better way to manage BSA/AML compliance because Patrice Kreidler and her team were relying on manual core reports and branch employees to spot suspicious activity. This labor-intensive process was inconsistent and risked missing unusual transactions, prompting the need for an automated anti-money laundering solution from Verafin.

Verafin implemented its cloud-based, behavior-based FRAML platform to analyze member activity, risk-rate suspicious behavior, and combine fraud and AML detection in one system. The solution quickly uncovered two previously unseen cases of suspicious activity involving structured cash deposits totaling more than $50,000, and helped Patrice complete her compliance work in just one to two hours per day.

Merck Sharp & Dohme

Patrice Kreidler

VP of Operation