PYMNTS

JANUARY 24, 2019

With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes. ” Organizations must do more with less, and they must do it quickly, he continued.

Compliance 191

Compliance Risk Management Training Analysis 191

PYMNTS

APRIL 8, 2019

Australian financial regulators are feeling pressure to ensure financial institutions treat customers properly and have turned to artificial intelligence (AI) in an attempt to improve compliance, according to a report by the Financial Times. They also lied to regulators and adversely cost customers millions by giving bad advice.

Compliance 108

Compliance Regulation Industry National 108

CFPB Monitor

NOVEMBER 8, 2021

The California Department of Financial Protection and Innovation has published a fourth round of modifications to implement SB 1235 , the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances.

CA 78

CA Regulation California Compliance 78

CFPB Monitor

AUGUST 12, 2021

SB 1235 requires the DFPI to issue regulations implementing the specific requirements of the disclosures that must be given to recipients. Compliance with the new disclosure requirements is not required until the DFPI’s final regulations become effective. Modifications to the proposal were issued in April 2021.

CA 78

CA Regulation California New York 78

PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. The Cost of Compliance. The projected 2020 cost of AML compliance across all U.S. financial institutions (77 percent) for AML compliance.

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

PYMNTS

OCTOBER 29, 2018

As a result of the passage and adoption of open banking regulations, like PSD2 in Europe, banks and other financial firms are sharing data more freely than ever before. Adapting To Open Banking . New open banking tools mean new types of financial transactions, which could make fighting digital fraud even more difficult for banks.

Security 192

Security Fraud Tools Data 192

PYMNTS

DECEMBER 26, 2018

Akli Adjaoute, CEO of Brighterion , wrote this AI-focused piece as part of our 2018 year-end eBook. . 3, 2018, the U.S. Regulators admit that legacy AML solutions failed and they are encouraging banks to implement newer, more innovative approaches in this area. “As Next-Generation Compliance and AML Solution.

Compliance 191

Compliance System eBook Examples 191

PYMNTS

OCTOBER 5, 2020

Retailers must protect customers’ card data from hackers who try to snatch payment details, and following best practices to ensure security requires adhering to the regulations established by the PCI SSC, a global payments industry forum. Compliance Complexities. Orchestrating A Solution.

Cards 207

Cards Data Compliance Payments 207

PYMNTS

JUNE 9, 2020

The EU enacted open banking rules in 2018, inspiring regulators worldwide to reconsider how they were transacting funds or transmitting data. The COVID-19 pandemic’s impact on daily business has generated new questions surrounding these initiatives that regulators are now scrambling to answer. and the EU. Australia and Canada.

Regulation 132

Regulation Online California Regional 132

CFPB Monitor

APRIL 14, 2021

The California Department of Financial Protection and Innovation (DFPI) has issued modifications to its proposed regulations to implement SB 1235, the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances.

CA 78

CA Regulation California New York 78

PYMNTS

JANUARY 8, 2021

16, Massachusetts securities regulators filed a complaint against Robinhood alleging that the company aggressively marketed to inexperienced investors and failed to implement controls to protect them, violating state laws and regulations. The company has also hired two new compliance officers.

Massachusetts 363

Massachusetts Fintech Millennials Retail 363

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. billion — 91 percent — of those penalties, while European regulators demanded $1.7 imposed a full $23.52

Fraud 189

Fraud Fintech Compliance Regulation 189

PYMNTS

DECEMBER 9, 2018

With retailers struggling to get compliant with the Payment Card Industry Data Security Standard , qualified security assessors are going to be in more demand and can offer tokenization as one way of achieving compliance.

Retail 194

Retail Report Compliance Security 194

Insights on Business

FEBRUARY 27, 2018

A common assumption in risk and compliance is that financial institutions typically have to spend more to meet their regulatory obligations. They demonstrated their new approach to achieving compliance through technology at IBM RegTech Europe in London. “Meaning, [regtech] is a teammate.

Compliance 98

Compliance Risk Management Management Regulation 98

PYMNTS

SEPTEMBER 11, 2019

Fraudsters have been increasingly focused on mobile services, with one-third of all fraud attacks worldwide reportedly targeting mobile during the first half of 2018 — a 24 percent year-over-year increase. Financial services providers must run tight ships when offering mobile services, and various techniques can help keep them secure.

Security 113

Security Fraud Mobile Cards 113

Abrigo

JANUARY 3, 2024

Treasury’s Financial Crimes Enforcement Network (FinCEN) recently issued a new regulation on the requirements, including how AML staff will access the information through a new federal beneficial ownership information (BOI) registry. This definition is different from existing customer due diligence (CDD) rules that took effect in 2018.

Fraud 221

Fraud Regulation Report Compliance 221

PYMNTS

JULY 5, 2018

The inner workings of such a relationship are complex, not only as banks ensure that their FinTech partners’ solutions can integrate seamlessly into existing operations and infrastructure, but as banks face increasing regulatory pressures around data security. Banks, meanwhile, enjoy out-of-the-box solutions.

Compliance 109

Compliance Fintech Marketing Security 109

Abrigo

MARCH 11, 2022

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. Takeaway 3 NBFIs should review common deficiencies in AML programs that regulators are citing and fix issues before their next audit or exam.

Regulation 195

Regulation cryptocurrency Policies Management 195

PYMNTS

DECEMBER 4, 2017

McAfee Labs recently published its 2018 Threats Predictions report , and after a year of high-profile cyberattacks and data breaches, analysts say the threat won’t let up in the new year. In this week’s B2B Data Digest, PYMNTS dives into new research about small businesses’ data security and cybersecurity efforts.

Security 136

Security Data Survey Regulation 136

FICO

JANUARY 7, 2019

The tremendous interest in AI and machine learning drove the readership on the Fraud & Security blog in 2018. FICO are very cognizant of the impact of regulations to our business and for our clients. The post Top 5 Fraud & Security Posts 2018: AI and Machine Learning appeared first on FICO.

Fraud 74

Fraud Security Analytics Training 74

PYMNTS

JUNE 29, 2020

Small- to medium-sized businesses (SMBs) have been especially hard hit, as many have pivoted quickly to enable online transactions and adhere to the regulations that often accompany them. The health crisis has brought about changes to this rule, however, and these may have long-term implications for payment standards and regulations.

How To 239

How To Payments Management social media 239

PYMNTS

OCTOBER 30, 2020

billion of these payments in 2018 alone for a total of $97.04 Slow compliance checks and sluggish processing times are commonplace, especially on the legacy systems still used by many banks around the world. Automating Compliance. Cash payments are quickly falling to the wayside, with only 26 percent of all U.S.

Operations 228

Operations Payments Compliance System 228

Abrigo

APRIL 18, 2022

Takeaway 3 As global interest in digital assets continues to rise, expect to see more regulation and even centralization of digital currency. The industry's most significant market increase was between 2016 and 2018. It experienced a downward correction from 2018 to 2019, sometimes referred to as the "crypto winter."

cryptocurrency 195

cryptocurrency Fraud United States Leadership 195

Abrigo

MARCH 7, 2022

Experts weigh in on regulatory hot topics for 2022 Review these 10 insights into what regulators are looking for in 2022 to help your financial institution pass exams with flying colors. Takeaway 1 Regulators have increased their focus on BSA in the first quarter of 2022, and the crisis in Ukraine will put OFAC in the spotlight.

cryptocurrency 195

cryptocurrency Regulation Fraud Policies 195

PYMNTS

FEBRUARY 24, 2020

The country’s government and regulators are keeping pace with those in the European Union and the U.S. Foreign firms and regulators tend to think of Chinese laws as either too strict, wide-reaching or lax — perceptions that have failed to keep up with local regulations’ developments. “In Confronting the Chinese Privacy Myth .

Regulation 160

Regulation Policies Data Compliance 160

PYMNTS

NOVEMBER 30, 2020

Plus, the United Kingdom government is making a new Digital Markets Unit to enforce regulations that apply to Big Tech. The government of the United Kingdom is creating a new Digital Markets Unit assigned to enforce regulations that apply to Big Tech firms. Growing HungryPanda Notches $70 Million In Funding.

Payments 139

Payments Regulation Video Cards 139

PYMNTS

AUGUST 11, 2020

A boom and crash just a few years ago showed that, as estimated by Bitcoinist.com , as many as 160 projects were on tap at as of January 2018, and by October of last year, that tally was zero. Blockchain can help automate compliance efforts and settle trades with speed. Regis Aspen Resort based in Colorado.

blockchain 314

blockchain Marketing Capital Colorado 314

PYMNTS

FEBRUARY 10, 2020

The CCPA is similar to the European Union’s General Data Protection Regulation ( GDPR ), which took effect in 2018. According to TechCrunch , i360, an advertising and data company, no longer asks for full Social Security numbers, opting instead for the last four digits. Security Boulevard research shows that as of Dec.

California 156

California Retail Compliance Data 156

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

Abrigo

JANUARY 27, 2020

The National Credit Union Administration (NCUA) has been working on their share of goal setting, as they have released their 2020 supervisory priorities for credit unions, regulation updates, and the agency’s modernization programs. “We Don’t wait for examinations, or even worse, a breach in security to begin focusing on cyber threats.

Risk Management 195

Risk Management Regulation Management Report 195

PYMNTS

JANUARY 29, 2019

The cat-and-mouse game is expensive, too: data from Gartner released last year predict businesses will spend $124 billion this year on cybersecurity, a 9 percent increase from 2018 spend levels. and Europe told Bitdefender in a separate survey that their budgets are large enough to accommodate the security for which infrastructure calls.

Training 148

Training Survey Compliance Data 148

PYMNTS

DECEMBER 28, 2018

It has been a busy year for the world of bank regulations, particularly Know Your Customer (KYC). Financial services regulations are notorious for their complexity and ever-changing demands for financial institutions and corporates, but another fuel for development in the KYC space was the FinTech community.

Compliance 186

Compliance Regulation blockchain Taxes 186

PYMNTS

JANUARY 22, 2019

Last year brought the General Data Protection Regulation (GDPR) deadline, Europe’s attempt to boost online privacy and security for consumers — a law that just resulted in a $57 million fine against Google , which was accused of not doing enough to gain the consent of users when collecting data meant for targeted advertising.

Payments 195

Payments Regulation Security Data 195

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

NOVEMBER 20, 2019

The company said requests were up 27 percent in 2018, as opposed to a year earlier. The company’s compliance rate was higher that year, at 73 percent. regulators and 1.8 million users to Canadian regulators. government, according to a report by TechCrunch. . Uber said it got 3,825 requests for 21,913 users from the U.S.,

Data 116

Data US Regulation Apple 116

Accenture

JULY 19, 2017

The PSD2 regulatory technical standards for strong customer authentication (SCA) and secure communication (SC) are proving difficult to finalize. However, PSD2 is still slated to become law across the EU in January 2018, and PSPs have to be compliant with it by then.

Security 174

Security Online Compliance Fraud 174

PYMNTS

FEBRUARY 10, 2020

The CCPA is similar to the European Union’s General Data Protection Regulation ( GDPR ), which took effect in 2018. According to TechCrunch , i360, an advertising and data company, no longer asks for full Social Security numbers, opting instead for the last four digits. Security Boulevard research shows that as of Dec.

California 130

California Retail Compliance Data 130