PYMNTS

AUGUST 30, 2019

The only certainties in life, the saying goes, are death and taxes. We’ll underscore the certainty of the latter — taxes — for eCommerce firms and sales taxes , especially. Although taxes may be certain — just how much tax is due, and where, and perhaps even when, are all variables that are far from certain.

Taxes 136

Taxes South Dakota United States Policies 136

PYMNTS

NOVEMBER 29, 2019

And in the wake of all those sales lies a pressing issue for merchants plying their trades online: figuring out the tax liabilities. At the same time, navigating tax policies is proving to be a complex business. tax policy at Avalara , noted that this holiday season is the second one post-Wayfair. The hard part?

Taxes 134

Taxes South Dakota New York Nebraska 134

PYMNTS

OCTOBER 24, 2019

The 2018 South Dakota v. Wayfair ruling gave states and cities permission to tax remote sellers and online marketplaces based on their economic participation in the state, regardless of whether they had physical presences. Online retailers aren’t sitting still when faced with new taxes — and some are even fighting back in court.

Taxes 101

Taxes San Jose Kansas South Dakota 101

PYMNTS

JANUARY 3, 2020

In an interview with PYMNTS, Liz Armbruester, senior vice president of Global Compliance at Avalara , said 2019 represented a watershed year for tax compliance as states embraced the economic nexus model and passed marketplace facilitator laws. Imposing state taxes on out-of-state sellers is now the new normal, she said.

Online 132

Online Taxes Compliance Missouri 132

PYMNTS

SEPTEMBER 12, 2019

Financial services providers that slack on regulatory compliance and fail to safeguard their operations against money laundering, terrorist financing and other criminal activities may face damaged reputations and significant fines. A report found that the U.S. imposed a full $23.52 billion and the Middle East levied $9.5 million. .

Fraud 189

Fraud Fintech Compliance Regulation 189

BankUnderground

NOVEMBER 8, 2023

In a new working paper , we show that cap-and-trade schemes lead to lower volatility in GDP and financial variables, and result in reduced welfare costs of the business cycle , when compared to the more widely known carbon taxes. We find that a cap-and-trade system keeps the economy significantly more stable.

Policies 64

Policies Regulation Taxes Compliance 64

Abrigo

JUNE 10, 2020

The former Chief Operational Risk Officer was fined for insufficient action on AML program deficiencies and staffing issues. Abrigo Compliance & Engagement Director Terri Luttrell, CAMS-Audit, says that fines against individual BSA professionals are rare. The recent $450,000 fine of U.S.

Resources 195

Resources Regulation Compliance Policies 195

CB Insights

OCTOBER 21, 2018

The 2018 Fintech 250 have raised approximately $53B in aggregate funding across 947 deals since 2013, and includes startups at different investment stages of development, from early-stage (seed/Series A) companies to well-funded unicorns. Outside the US: 44% of the 2018 Fintech 250 are based outside the US. Please click to enlarge.

Fintech 78

Fintech Lending Capital Analytics 78

PYMNTS

FEBRUARY 8, 2019

The disclosures come as Wirecard has said that back in April of 2018, an employee of its Singapore operations had raised concerns about another member of the team. The FT had reported that Edo Kurniawan, who heads accounting operations in the Asia Pacific, had been accused of forging and backdating contracts.

Metro 169

Metro Fraud Compliance Taxes 169

PYMNTS

DECEMBER 18, 2018

The tax man cometh, logging miles — in a manner of speaking. The mileage rate increase should spur businesses to consider how they reimburse the drivers who are part of everyday business operations, especially in the age of the mobile (literally) worker. 58 per mile, up three and half cents from 2018’s rate. On Friday (Dec.

Compliance 148

Compliance San Francisco Operations Taxes 148

FICO

JANUARY 18, 2019

Despite advances in customer due diligence, including the addition of advanced analytics to compliance officers’ toolkits, the scandals of 2018 confirmed that many banks are struggling to bring their operations up to regulators’ standards, to say nothing of best practices. Know Your Customer. Detection and Alert Handling.

Compliance 40

Compliance Regulation Taxes Analytics 40

PYMNTS

SEPTEMBER 12, 2019

The Cost of Compliance. The projected 2020 cost of AML compliance across all U.S. Between 2008 and 2018, approximately $26 billion worth of fines were levied against banks for AML, KYC and sanctions noncompliance. financial institutions (77 percent) for AML compliance. financial services firms is $26.4

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

PYMNTS

FEBRUARY 21, 2019

million in net income for the fourth quarter of 2018. Streit also highlighted the firm’s ongoing collaboration with Intuit , with its Turbo Tax solution enabling users to receive tax refunds on a Prepaid Visa Card issued by Green Dot. The firm saw $6.2 billion in purchase volume during Q4, up from $5.65

Taxes 188

Taxes User Experience Cards Operations 188

PYMNTS

AUGUST 20, 2019

That’s especially important as businesses gain scale, as they expand reach into new geographic areas — and as they grapple with AP operations. In a release, Tipalti said earlier this month that it saw an increase of 250 percent in customer bookings in the first half of 2019 compared to the first half of 2018.

Management 127

Management Payments Taxes Software 127

PYMNTS

FEBRUARY 14, 2019

The hearing itself was a small victory for proponents who wish to open up the banking system to legal pot operators. That’s because it marked the first hearing dedicated to a proposed bill in Congress that would offer financial institutions protections against federal regulators when dealing with legal cannabis operations.

Oregon 230

Oregon Colorado Operations Washington 230

Abrigo

FEBRUARY 10, 2022

Since 2016, three serious document leaks have made international news and exposed the activity of powerful political elites or wealthy individuals who used shell companies to disguise the source of funds and avoid taxes. As of 2018, financial institutions must determine beneficial ownership as determined by two prongs: ownership and control.

Training 195

Training Regulation Report Compliance 195

PYMNTS

DECEMBER 12, 2018

To that end, the number of banking firms that actively provide services for marijuana firms has grown by 20 percent since the dawn of 2018. There are steps FIs can take to offer services to the industry while still maintaining compliance with their applicable regulatory requirements. That is simply not true,” he told PYMNTS.

Company 170

Company Taxes Compliance Industry 170

PYMNTS

MARCH 14, 2019

Both corporates and banks have said Know Your Customer ( KYC ) regulations are their most pressing compliance concerns, with nearly three-quarters of businesses with more than $1 billion in revenues pointing to KYC as their top challenge. Unfortunately, the report found, recent tax reform in the U.S.

Fraud 115

Fraud Survey Taxes Regulation 115

PYMNTS

APRIL 1, 2019

workforce (36 percent) participated in the gig economy during 2018. Companies are also turning to digital marketplaces to tap into workers’ expertise while lowering operating costs. . A December 2018 survey from Connect Solutions found that this kind of remote employment offers perks for both workers and employers.

Payments 183

Payments Survey Online Company 183

PYMNTS

DECEMBER 8, 2016

. “If you want to roll out eInvoicing across your global enterprise, you need to be mindful of these different regulations in different parts of the globe that you need to be in compliance with,” he said. is slated to introduce its own eInvoice mandate in 2018, at least for the government’s own procurement purposes. .

Compliance 100

Compliance Regulation Taxes Fraud 100

BankBazaar

JANUARY 31, 2021

The National Sample Survey Office conducted a survey between 2017 and 2018, sampling 113,823 urban and rural households. We await the operational details of the scheme now. However, in case of serious tax-evasion cases (Rs. Affordable housing projects to get a tax holiday for one year. percent of the rural and 80.9

Metro 122

Metro Taxes National Survey 122

PYMNTS

JANUARY 10, 2019

trillion) in 2018 alone, and growing at double digits into the current year. Platform operators and merchants must conduct due diligence related to everything from intellectual property and tariffs to tax laws and FX rates. Top markets include Japan, the United States and Korea.

United States 158

United States Regulation Compliance Strategy 158

PYMNTS

FEBRUARY 13, 2019

The hearing itself was a small victory for proponents who wish to open up the banking system to legal pot operators. That’s because it marked the first hearing dedicated to a proposed bill in Congress that would offer financial institutions protections against federal regulators if dealing with legal cannabis operations. Cash Dangers.

Oregon 115

Oregon Colorado Operations Washington 115

South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. Screen scraping data quickly becomes passe, and the state-of-the-art is leveraging APIs to better integrate.

Conference 195

Conference Payments Fraud Data 195

PYMNTS

JULY 13, 2018

The current quarter included a 10-cent per share income tax expense. . Officials said non-interest income was down $684 million from the first quarter of 2018, to about $9 billion in the second quarter, citing lower mortgage banking fees and other income. per share, while earnings came in at 98 cents. Revenue fell to $21.6

South Dakota 101

South Dakota San Francisco Indiana Wisconsin 101

PYMNTS

DECEMBER 7, 2017

Blockchain and crypto companies may be operating with cutting-edge technology, but in the back-office, accounting and bookkeeping strategies are stuck in the stone age. He added that accounting solutions have to be able to connect directly into the dozens of cryptocurrency exchanges in operation today where crypto-trading occurs.

blockchain 131

blockchain cryptocurrency Software Regulation 131

PYMNTS

MARCH 2, 2018

Toward the start of 2018, analysts began to highlight the potential for venture capital (VC) to embrace the B2B business model. This week, a breakdown of B2B venture capital funding rounds offers support that the growing interest in the B2B business model continues into 2018. For markets like the U.K., Alternative Lending.

Fintech 118

Fintech Capital blockchain Lending 118

PYMNTS

JANUARY 17, 2019

It’s also about accounting for the industry in which a business operates, and what kind of back-end systems are already in place, even geographic location — all of which impact the way small businesses want to manage and pay their employees. ” In the U.S.,

Capital 173

Capital Tools Survey Management 173

PYMNTS

JANUARY 30, 2018

But it’s a significant milestone nonetheless that federal regulators will be required to pay suppliers via eInvoice by the end of fiscal year (FY) 2018, meaning 19 million invoices government agencies pay every year will have to be electronic. Of all the regulatory changes occurring in the U.S. In a statement to PYMNTS, Steve Smith, U.S.

US 106

US Minneapolis Regional America 106

PYMNTS

OCTOBER 22, 2018

As of September 2018, losses from gift-card fraud have hit $53 million. They may pretend to be the IRS and tell people they cannot use other payment methods because of their delinquent tax status,” according to the FTC. The scammers in question have also broadened their application of gift-card fraud to a wider variety of cons.

Data 134

Data Fraud Cards Regulation 134

CB Insights

FEBRUARY 13, 2020

These APIs handle everything from acceptance and processing to settlement and reconciliation, while ensuring compliance and security. Sigma aims to streamline business operations. Stripe Atlas (business incorporation tool) and Stripe Sigma (business analytics and reporting) can help simplify business operations. Source: Stripe.

Online 98

Online Company Retail Payments 98

Jeff For Banks

NOVEMBER 24, 2019

billion in assets, had 87 full-time equivalent employees, and accounted for two-thirds of the town's tax revenue. She effectively ran the bank and its operations. Clearly, blue-suit regulators stood out. The bank, First National Bank of Keystone, was $1.1 The blue-suits were not well-received. Jeff Want to read more?

National 78

National West Virginia Virginia Pennsylvania 78

Jeff For Banks

JULY 8, 2017

Incidentally, Chair Janet Yellen’s term at the Fed expires in February, 2018. For years, regulatory and compliance costs have been growing dramatically. Recently, we have seen ransomware virtually cripple company’s networks and Internet access, as criminals exploit vulnerabilities in Microsoft’s Windows operating system.

Marketing 60

Marketing Community Bank Security Data 60

CB Insights

MAY 23, 2019

Zenefits skirts compliance regulations. After a comprehensive investigation by the Securities and Exchange Commission, Holmes was banned from the laboratory testing industry for two years and was ultimately charged with wire fraud by the Department of Justice in summer 2018. Zenefits skirts compliance regulations. The Outcome.

Fraud 78

Fraud Las Vegas Company Video 78

Gonzobanker

DECEMBER 19, 2017

Here’s hoping a final remodel of the stage coach occurs in 2018. Hard to imagine a lot of deal signings headed into 2018 – except the IRS, of course. The “Predicted Big Topic of 2018, But No Data to Support It” Award – Goes to Behavioral Economics. Executioner’s Tax (Swing of the Ax) – Power Trip. Female – Keith Urban.

Conference 91

Conference Industry Community Bank Community 91

CB Insights

OCTOBER 26, 2020

While the rules against prop trading have more recently been loosened, the restriction has still changed how investment banks operate. Even as the regulation pendulum swings back toward more limited oversight, how investment banks operate is fundamentally changing. Table of contents. The disruption of the IPO. Source: Getty.

Management 78

Management Capital Company Marketing 78

FICO

DECEMBER 9, 2019

Debts in the UK, including credit card debt and personal loans, rose 11% to £119bn in the two years to March 2018, according to the ONS. Drastic changes in creditor’s operating models will help debtors — in some places. Before I get to my predictions, let me explore each of these. Consumer Indebtedness.

Analytics 52

Analytics Regional Strategy Regulation 52