PYMNTS

JULY 27, 2018

watchdog in charge of investor oversight proposed tough new regulations regarding peer-to-peer (P2P) lending platforms, in a bid to help consumers wade through the new landscape, according to a report by Reuters. has also sought clarity on regulations as a means to better compete against established banks.

Lending 102

Lending Regulation Fintech Study 102

PYMNTS

MAY 7, 2018

Accelerating payments mean financial institutions have less time to identify fraud before a transaction clears and settles. In its analysis of the Same-Day ACH rollout, NACHA found no evidence that it led to an increase in fraud attempts or successful breaches. Companies appear to be overconfident in their ability to avoid fraud.

Fraud 118

Fraud Survey Payments System 118

PYMNTS

SEPTEMBER 6, 2016

In a world where payments become more invisible the more digital they become, there’s never been a better opportunity to consider new ways to enable the digital transformation of financial services in a secure and compliant way. Payments Security As A Digital Business Enabler. Or watch its digital disruption.

Security 100

Security CA Payments Big Data 100

FICO

JANUARY 8, 2018

One of the newer applications of artificial intelligence rose to the top of the Fraud & Security blog last year: anti-money laundering. Here were the top 5 posts of 2017 in the Fraud & Security category: AI Meets AML: How the Analytics Work. Hacked ATMs Lead to 70% Rise in Debit Card Fraud.

Meeting 53

Meeting Fraud Security ATM 53

PYMNTS

APRIL 18, 2019

The PSD2 -related regulation counts itself among a raft of those set to become law across the continent, focusing on boosting online commerce security by requiring cardholders to provide two forms of identification to verify their identities when transacting. A September to Remember. Those under €30 ($33.93

Fraud 148

Fraud Regulation Compliance Online 148

PYMNTS

MARCH 15, 2019

The Hong Kong Securities and Futures Commission has issued its largest-ever fine, which landed on international investment banks for what the watchdog found to be failings in their initial public offering sponsorship roles. Subsequently, the financial institutions were scrutinized by the regulator for failing to fulfill due diligence.

America 100

America Regulation Fraud Security 100

PYMNTS

SEPTEMBER 8, 2019

The server held the resumes of job applicants spanning 2014 and 2017, and included private information such as phone numbers, home addresses, email addresses and prior work experience. The Monster Security Team was made aware of a possible exposure and notified the recruitment company of the issue,” the company said.

Online 184

Online United States Security Data 184

PYMNTS

JULY 16, 2019

A group of Venezuelan nationals filed a fraud suit in Florida federal court claiming they were duped into a Ponzi scheme involving cryptocurrency purportedly backed by diamonds. Of the 90 cryptocurrency cases pursued by the SEC, regulators have only tracked down $36 million for investors.

cryptocurrency 115

cryptocurrency Florida Fraud Groups 115

PYMNTS

DECEMBER 17, 2018

As far as security is concerned, the roughly 61 percent of firms said that they had “basic controls” in place to contend with data breaches, with 50 percent of firms stating that they have plans in place to notify supervisors in the event of such breaches. Push Payments Fraud in the Crosshairs. The verdict?

Report 167

Report Fraud Compliance Apple 167

PYMNTS

MAY 24, 2019

But cryptos have done a great job of acting as conduits to all sorts of fraud. The news came this week that the Securities and Exchange Commission (SEC) and other regulators have looked into, and stopped in its tracks, a $30 million Ponzi scheme that was built around a cryptocurrency scam tied to diamonds.

cryptocurrency 131

cryptocurrency Florida Security Fraud 131

PYMNTS

OCTOBER 26, 2018

Amid reports this week that changes to accounting standards are coming over the next few weeks, the Securities and Exchange Commission (SEC) has said that financial professionals, including accountants, must be mindful of cybersecurity risks. BEC, the acronym for business email compromise scams, is getting its share of attention.

Washington 122

Washington Fraud Security Report 122

PYMNTS

OCTOBER 3, 2016

The recent announcement by Yahoo that it was hacked and 500 million accounts were exposed in 2014 and the fact that Yahoo did not state when it became aware of the attack has highlighted inadequate disclosure rules for public companies. Securities and Exchange Commission to investigate the disclosure action taken by Yahoo’s executives.

Guidelines 185

Guidelines Security Data Company 185

PYMNTS

JANUARY 9, 2019

The pension fund wants a class-action status on the lawsuit and damages for participants in Danske’s American depositary shares from early 2014 to late 2018. The suit accuses Denmark’s largest bank of being “intentionally less than forthcoming” to the country’s regulators, despite a whistleblower making the issue known.

US 134

US New York United States Course 134

PYMNTS

DECEMBER 3, 2018

According to a report in the Wall Street Journal citing cyber security specialists, the breach in which the personal information of as many as 500 million customers was exposed began in 2014, going undetected until September of 2018. The hack could hurt Marriott’s reputation at a time when it’s fighting off the likes of Airbnb.

Cyber Security 122

Cyber Security Security Cards Resources 122

PYMNTS

OCTOBER 17, 2016

In order to keep their public images intact, many financial institutions in Britain are choosing not to report the full extent of cyberattacks to regulators. managing director of security and privacy at Protiviti told Reuters. . managing director of security and privacy at Protiviti told Reuters. In the U.S.,

Regulation 100

Regulation Security Fraud Report 100

PYMNTS

DECEMBER 17, 2018

Five million dollars will be paid to the treasury; the rest will be paid along with other penalties given to UBSFS by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). FinCEN said UBSFS kept up the lack of regulation for AML from 2004 to 2014.

Policies 137

Policies Security ATM Training 137

Abrigo

JANUARY 13, 2015

During an October 2014 NCUA examination of Palm Springs Federal Credit Union (FCU), a confidential flash drive went missing. According to Palm Springs FCU President & CEO Debbi Pitigliano, the drive was provided to the NCUA and contained members’ personal information, including names, addresses and social security numbers.

Lending 150

Lending Regulation Data How To 150

PYMNTS

JUNE 16, 2018

The initiative eventually hopes to join banks and government agencies that collaborate on contract registration and regulation. European Union sanctions against Russia for its annexation of Crimea in 2014 sparked concerns that SWIFT may remove Russia from its system.

blockchain 113

blockchain National New York cryptocurrency 113

PYMNTS

JANUARY 10, 2018

Enterprise blockchain company Money By Design is planning an initial coin offering (ICO) and hopes to secure more than $350 million through the deal. billion from ICOs since the beginning of 2014, citing data from Token Data. France-based ICO boutique Chaineum told PYMNTS on Tuesday (Jan. 9) that it will be managing the ICO.

blockchain 137

blockchain Fraud Data Regulation 137

CFPB Monitor

MAY 12, 2021

The Fed’s final rule implementing the Durbin Amendment (Regulation II) went into effect in October 2011. Regulation II capped the interchange fee received by large issuers (with $10 billion or more in assets) to 21 cents plus 0.05% of the transaction. In 2014, in NACS v. Proposed Amendment to Regulation II.

North Dakota 78

North Dakota Cards Regulation Fraud 78

PYMNTS

DECEMBER 4, 2018

Not only did the criminals behind the breach attack a juicy target (imagine the identities that could be hacked or created with all that information after it is sold to other fraudsters on the Dark Web or otherwise used), but they had apparently enjoyed unauthorized access into the hotel database since 2014. Good for them! Well, not really.

Security 172

Security Strategy Data Cards 172

PYMNTS

AUGUST 29, 2018

When trying to understand the new eIDAS regulations set to go officially online in the EU in September, it helps, Trulioo GM Zac Cohen told Karen Webster, to take a step back and look at the general purpose of the European Union. The EU, Webster noted, was not quite the same place in 2014 as it is in 2018.

Regulation 164

Regulation Guidelines Trends Online 164

PYMNTS

MAY 12, 2016

According to FT , no public or private action was taken against the bank by regulators after the information was disclosed. regulators didn’t seem inclined to take any real steps toward looking into the claims about BSI’s role in tax evasion at the time. But as the FT’s reports showed, U.K. But as the FT’s reports showed, U.K.

Taxes 100

Taxes Fraud Regulation New York 100

PYMNTS

FEBRUARY 4, 2019

A series of regulations was established to encourage a safer, more transparent financial services environment following the 2008 financial crisis. Failure to meet AML/KYC requirement challenges can be costly for FIs, too, with regulators issuing heavy fines for lax security practices or failure to devote sufficient resources to oversight.

How To 161

How To Regulation Compliance Meeting 161

PYMNTS

MAY 24, 2019

But cryptos have done a great of acting as conduits to all sorts of fraud. The news came this week that the Securities and Exchange Commission and other regulators have looked into, and stopped in its track, a $30 million Ponzi scheme that was built around a cryptocurrency scam tied to diamonds.

cryptocurrency 100

cryptocurrency Florida Security Bitcoin 100

Banking 2020

NOVEMBER 25, 2015

China has introduced new draft rules that are intended to tighten regulations governing online payments in the country. Until now, this sector has been subject to very little legislation, but there have been claims that this hands-off approach has helped facilitate problems such as fraud and money laundering.

Regulation 40

Regulation Online Marketing Payments 40

PYMNTS

SEPTEMBER 13, 2017

As the government steps up against risky and illegal behaviors in the financial sector, it is handing down tough sentences and regulating industries. Reuters reported that the Beijing First Intermediate People’s Court sentenced Ding Ning – chairman of Anhui Yucheng Holdings Group, which rolled out Ezubao in 2014 – to life in prison.

social media 100

social media Fraud Groups Lending 100

PYMNTS

FEBRUARY 24, 2016

Western Union is being questioned by the European Union’s antitrust regulators in relation to allegations that it conspired with banks to push its rivals out of the money-transfer market. billion case in 2014 for similar reasons. Major cases related to this include a 2012 case with HSBC that led a $1.9

Marketing 100

Marketing Fraud Regulation Company 100

PYMNTS

FEBRUARY 13, 2017

and, most recently, Poland, may originate from the same source as the hack attacks against Sony in 2014. How many banks were hit or what financial losses were taken as a result remains unknown to regulators, but the attacks do seem to be of a piece with the hacks that blew Sony Pictures open about two years ago. Mexico, the U.K.

Groups 105

Groups Tools Regulation Software 105

PYMNTS

APRIL 18, 2019

An internal investigation at Deutsche Bank has found that it processed at least €175 million (nearly $197 million USD) in dirty money for Russian criminals between 2011 and 2014. According to Financial Times , the money was part of a $20 billion scheme known as the “Russian Laundromat,” which was leaked from a supervisory board presentation.

Regional 155

Regional Regulation Payments Management 155

PYMNTS

FEBRUARY 28, 2018

Danske Bank has, in the past, acknowledged illegal transactions at its Estonian branch in 2011-2014. “As The Estonian regulator already conducted a full review of the branch’s activities in 2014. As we have previously said, on the basis of what we know now, we should have done this faster.

Leadership 113

Leadership Report Regulation Groups 113

PYMNTS

OCTOBER 10, 2017

percent between 2014 and 2014 representing the highest growth in a decade, researchers said. Emerging Asia is seeing ongoing traction for payment cards in the corporate sphere as companies turn to commercial cards for more secure supplier payments. The 2017 report , released Monday (Oct.

Payments 124

Payments Regional America Trends 124

PYMNTS

OCTOBER 15, 2019

The new revelations add to the banks troubles, as it tries to gain back the confidence of regulators and customers alike. Investigators are now trying to get a sense of the transactions and going through a small fraction of them from 2014 and 2015 involving other Soviet states. billion for selling bad U.S.

Report 110

Report Regulation Operations Fraud 110

PYMNTS

DECEMBER 20, 2017

Reuters, citing the FATF, reported that in addition to failing to punish money launderers, Mexico’s tax authorities aren’t regulating money from real estate and luxury goods firms, which are just a front for drug operations. The allegations came in a draft report on Mexico’s efforts to fight back against illicit finance.

Taxes 100

Taxes Regulation National Report 100

Abrigo

AUGUST 6, 2019

Blanco discussed the organization’s active approach toward addressing the top financial threats to our financial system, our national security, and our communities and families. FinCEN issued advisory FIN-2014-A008 with red flags that FIs should be on the lookout for to identify possible human trafficking.

System 264

System Las Vegas San Antonio San Diego 264

PYMNTS

MARCH 31, 2017

Securities and Exchange Commission (SEC) has denied the second bitcoin-based ETF bid up for consideration in the month of March — the Intercontinental Exchange, Inc.’s For a second time, it was the lack of oversight, regulation and the potential for fraud in the broader bitcoin space that worked against the proposed ETF.

Bitcoin 100

Bitcoin blockchain Capital Regulation 100

Money and Payments

APRIL 23, 2014

In March 2014, the FCA, the prudential supervisor for UK based payment institutions and e-money providers, outlined that it would not be strictly assessing the compliance with the Securepay Recommendations on the security of Internet Payments. European Commission Payment Services Directive PSD regulation security and fraud'

Security 28

Security Fraud Compliance Regulation 28