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 2 Planning now and informing executive management of expected changes will enable NBFIs to move forward with anticipated rules and guidance.

Regulation 195

Regulation cryptocurrency Policies Management 195

Abrigo

DECEMBER 17, 2021

Prepare for Future Staffing Needs Now As we transition to 2022, now is the perfect time to analyze current staffing levels at your financial institution. . Moving into 2022 may be a n excellent time to analyze current staffing levels and the associated risks of losing valuable members of your team. Be Prepared.

Compliance 195

Compliance Training Fraud Resources 195

Abrigo

FEBRUARY 25, 2022

What to watch for in 2022 Expect these eight BSA /AML regulatory topics to see changes in 2022 and start preparing now to help your institution s tay up to date. Eight topics that could see change in 2022. While FinCEN has provided no specific, written regulations yet, more clarification is expected soon.? What to Watch.

Regulation 195

Regulation Policies Compliance Washington 195

Abrigo

MAY 20, 2022

Meet Model Risk Management Expectations Updates to the FDIC Risk Management Manual should steer institutions toward a model that manages risk and drives growth. Takeaway 1 Aside from meeting examiner expectations, proper model risk management can protect your institution from unnecessary risk. . FDIC Update.

Risk Management 195

Risk Management Management FDIC Meeting 195

Abrigo

JUNE 13, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation and fraud continue to rise as the baby boomer generation ages. Takeaway 3 Education and reporting are key to preventing this type of fraud, so know your state's policies. .

Fraud 195

Fraud Training United States Survey 195

FICO

JULY 6, 2023

Beyond the pleasure of leading a FICO Falcon Fraud Manager User Forum and moderating a couple of panel breakout sessions, I I was also able to catch up with many of the fraud-focused attendees from around the world. Scams: A Top Fraud Concern Scams are becoming a leading fraud concern, all around the world.

Fraud 52

Fraud Management Customer Experience San Diego 52

FICO

DECEMBER 14, 2021

But European fraud and financial crime have continued to evolve. As we move forward into 2022, we are seeing the first signs of some interesting trends that will pick up pace across borders. We believe this is one of the many scams that will consistently hit the headlines in 2022. Related scams have also been on the rise.

Fraud 52

Fraud Management Data Trends 52

Abrigo

FEBRUARY 10, 2023

Introduction Corporate Transparency Act guidance FinCrime professionals have been on high alert for new regulations since the Anti-Money Laundering Act of 2020 (AMLA) was signed into law, but updates have been slow to arrive. One critical aspect of the AMLA did make progress toward the end of 2022: the Corporate Transparency Act (CTA).

Fraud 195

Fraud Training Regulation Compliance 195

SWBC's LenderHub

AUGUST 18, 2022

As of March 18, 2022, Nacha’s account validation rule requires ACH originators of WEB entries to use a commercially reasonable fraud detection system to verify the first time a consumer checking account is used for an electronic (ACH) payment, if the payment is initiated over an online channel, the account number must be validated first.

Risk Management 78

Risk Management Fraud Management Examples 78

FICO

JANUARY 10, 2023

Top 5 Fraud Posts for 2022: Scams, Contactless and Money Mules. In a year that saw the word "scamdemic" coined, scams such as authorised push payment fraud were top of mind, along with various other fraud schemes. Few things change faster in the financial services space than fraud trends. FICO Admin.

Fraud 52

Fraud Cards Analytics Oakland 52

Independent Banker

DECEMBER 31, 2021

What changes will 2022 bring? And as local economies continue to stabilize and many challenged industries bounce back, 2022 may be the year community bankers put the rubber to the road by revisiting goals and turning them into action items. Regulators haven’t yet broached the subject with them. What will drive profit in 2022?

Community Bank 144

Community Bank Community Lending Louisiana 144

Abrigo

MAY 9, 2022

The COVID-19 pandemic has substantially increased the need for fraud detection across the country, with hard dollar losses keeping financial organizations on their toes. A recent and notable consent order shows the dangers of turning to an unqualified or inept third-party institution to perform some or all BSA/AML duties to meet regulations.

Compliance 195

Compliance Fraud Regulation Resources 195

Perficient

SEPTEMBER 16, 2022

Consumer protection – Concern for the consumer was emphasized throughout the letter as the FRB highlighted risks to the public due to price volatility, misinformation, fraud, as well as the outright loss or even theft of assets. The letter highlighted mandatory compliance with the following federal regulations: The Bank Holding Company Act.

Compliance 275

Compliance Risk Management System Regulation 275

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 is in line with the current CDD regulations. Effective Jan. Below is a short recap of each.

Fraud 222

Fraud Regulation Report Compliance 222

Abrigo

DECEMBER 2, 2021

Takeaway 1 Some financial institutions have a budget surplus this time of year, and these funds can be spent now to help growth in 2022. Takeaway 3 Signing up for 2022 conferences is another smart use of surplus budget funds, because some events are offering early-bird discounts. Streamline and systematize loan review for 2022.

Conference 195

Conference San Antonio Lending Fraud 195

FICO

JULY 1, 2022

Global Fraud Trends: What’s Happening and What’s Next? Here are the highlights from the fraud trends breakout session at FICO World 2022 with a panel of fraud professionals from Brazil, Turkey and North America. Fri, 07/01/2022 - 13:40. Tue, 07/02/2019 - 02:45. by TJ Horan. expand_less Back To Top.

Fraud 52

Fraud Trends South Carolina Risk Management 52

FICO

DECEMBER 20, 2022

5 Ways Digital Payments Will Change FIs and Fraud in 2023. Vice President, Product Management. Tue, 12/20/2022 - 10:20. As I look back on 2022, I’m reluctant to lean too far into predictions for 2023. In closing, let me reprise my advice from my 2022 predictions. FICO Admin. Tue, 07/02/2019 - 02:45. by TJ Horan.

Fraud 52

Fraud Payments South Carolina Compliance 52

Abrigo

OCTOBER 19, 2023

Host webinars or workshops for your employees, customers, or members that cover topics such as password management or phishing prevention. Organize fun activities or contests for employees that test their cybersecurity knowledge or skills, such as a virtual escape room or an online quiz game.

Online 222

Online Security Resources Training 222

FICO

SEPTEMBER 20, 2022

Fighting Fraud with Responsible AI: My Talk with Dr. Scott Zoldi. FICO fraud expert TJ Horan talks fraud management and responsible AI with FICO's Chief Analytics Officer, Dr. Scott Zoldi. Tue, 09/20/2022 - 11:50. How Does Responsible AI Fit into Fraud Operations? FICO Admin. Thu, 08/22/2019 - 12:37.

Fraud 52

Fraud Analytics Strategy System 52

Abrigo

NOVEMBER 9, 2022

The Q1 2023 compliance date is near for smaller SEC-reporting financial institutions and private or not-for-profit banks and credit unions, and progress is decidedly mixed, according to the Abrigo 2022 CECL Survey. Most bankers (86%) indicated they’ve moved beyond data collection in 2022, even if they haven’t yet adopted the standard (i.e.,

Survey 195

Survey Software Resources Meeting 195

Independent Banker

DECEMBER 31, 2022

From new fee practices to peer-to-peer fraud, keep an eye on what regulatory changes could be developing in the new year. CFPB issued Circular 2022-06 about two fee practices that it considers unfair and unlawful under existing law. Cyber Incident Reporting for Critical Infrastructure Act of 2022 (CIRCIA) was passed in 2022.

Compliance 100

Compliance FDIC Community Bank Community 100

Abrigo

MAY 19, 2023

In addition, they should be familiar with pertinent laws and regulations affecting credit and lending activities. Loan review management needs to scale back its expectations of pre-existing skills for new recruits and to take on more responsibility for training its own. Then they told me nobody’s perfect, so I stopped practicing.”

Training 195

Training Lending Risk Management Guidelines 195

Independent Banker

JANUARY 31, 2022

A recent report by Cornerstone Advisors found that bankers are either strongly interested in or already working with fintechs in three main areas: digital account opening (71%), mobile wallets (41%) and fraud/risk management (47%). Fraud and risk management. Checking in with 2022’s ThinkTECH Accelerator.

Community Bank 159

Community Bank Community Fintech Risk Management 159

Abrigo

JUNE 5, 2023

Banking reports to inform risk management and strategy These reports on capital, growth, and liquidity help financial institutions spot warning signs. They help manage and shape strategy in volatile economic and industry conditions. Regulators review them to assess safety and soundness.

Report 195

Report Risk Management Capital Data 195

Gonzobanker

JUNE 14, 2023

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act. If only it were so easy.

Compliance 109

Compliance FDIC Strategy Fintech 109

PYMNTS

JANUARY 18, 2022

The CEO and CFO of the BitMEX cryptocurrency derivatives exchange announced today that they have reached an agreement to purchase a 268-year-old German bank in order to establish “a one-stop shop for regulated crypto products in Germany, Austria, and Switzerland.”. Regulated” is a word Höptner returned to repeatedly in the announcement.

Regulation 169

Regulation cryptocurrency Groups Innovation 169

FICO

NOVEMBER 19, 2019

The Contingent Reimbursement Model (CRM) is a UK payments industry initiative designed to reimburse victims of authorised push payment fraud (APP fraud). UK Finance in their Fraud the Facts Report 2021 found that in the first half of 2021, a total of £355.3 Frequently the customer was the one left with a hole in their finances.

Fraud 52

Fraud Payments Regulation System 52

FICO

NOVEMBER 30, 2022

Senior Director, Product Management. Wed, 11/30/2022 - 16:30. Consumers are not as worried about APP fraud and scams as they are for other types of fraud, but awareness is growing. Authorized Payment Fraud – A Global Concern. APP fraud has been on the rise around the world. FICO Admin. by Debbie Cobb.

Fraud 52

Fraud Management Customer Experience Strategy 52

CFPB Monitor

JUNE 30, 2022

On June 23, 2022, the Office of the Comptroller of the Currency (OCC) released its Semiannual Risk Perspective (SRP) for spring 2022. In addition, the OCC warns that banks face an “elevated” risk of cyber attacks and fraud or cybersecurity risks related to digital assets. BSA/AML Compliance Risks.

Compliance 78

Compliance Fraud Technology Operations 78

FICO

FEBRUARY 12, 2023

Home Blog FICO Top 5 Customer Development Posts of 2022: Digital Banking and Pricing Opti The most popular posts in our Customer Development category dealt with digital banking, optimizing credit line increases, loan pricing and machine learning for credit risk models.

Digital Banking 52

Digital Banking eBook Analytics Customer Experience 52

FICO

FEBRUARY 9, 2023

As the PSR’s response to authorized push payment fraud moves towards becoming law, what will the results be? FICO Admin Tue, 07/02/2019 - 05:23 by Matt Cox VP and General Manager, EMEA expand_less Back To Top Thu, 02/09/2023 - 11:40 Of the £609.8 The Regulator Is Stepping In - What Will It Mean for Banks? And what can banks do?

Fraud 52

Fraud social media Examples Regulation 52

Gonzobanker

JUNE 7, 2023

Mix in the added drama of regulators condemning the banking-as-a-service model, and there’s added risk. And time, well, it’s pressing – in 2022, the average U.S. According to AARP research, 56% of adults 50 and older made financial transactions on their smartphones in 2022. life expectancy was 76.1

Los Angeles 117

Los Angeles Fintech Digital Banking Tools 117

CFPB Monitor

APRIL 7, 2022

The FDIC has issued the March 2022 edition of Consumer Compliance Supervisory Highlights which includes a description of some of the most significant consumer compliance issues identified by FDIC examiners during consumer compliance examinations conducted in 2021.

FDIC 78

FDIC Compliance Lending Regulation 78

FICO

DECEMBER 1, 2022

Tue, 07/19/2022 - 16:11. Thu, 12/01/2022 - 11:05. There’s no way to sugarcoat it: 2022 was a rough year for businesses. In a letter to Alphabet management TCI provided a brief glimpse of the obvious: “Unfortunately, enthusiasm for self-driving cars has collapsed and competitors have exited the market.” by Scott Zoldi.

Analytics 98

Analytics Phoenix San Diego Tools 98

Abrigo

DECEMBER 22, 2023

The most popular financial crime blogs in 2023 Check fraud, the SAFER Banking Act, and BSA exam topics were among Abrigo's top blogs on AML/CFT and fraud this year. You might also like this infographic on the true costs of fraud at financial institutions. Here are Abrigo’s 10 top AML and fraud blogs in 2023.

Fraud 222

Fraud Training Compliance Trends 222

FICO

NOVEMBER 15, 2022

Tue, 11/15/2022 - 11:25. The suite includes SironAML (Anti Money Laundering), SironKYC (Know Your Customer), SironEMBARGO (Sanctions Screening) and SironTCR (Tax Compliance) with associated case management and reporting. FICO Admin. Tue, 07/02/2019 - 02:45. by TJ Horan. expand_less Back To Top. Read the news announcement.

South Carolina 52

South Carolina Compliance Analytics Software 52

Gonzobanker

MAY 4, 2022

The 2022 survey produced the biggest one-year change we have ever seen. Regulations – The practical application of regulations to specific situations at the institution requires deep “inside” knowledge. A focused plan for the development of next generation talent is no longer optional. And they vary by FI.

Training 142

Training Survey System Data 142