Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Regtech is simply the use of technology such as AI, machine learning, natural language processing, and blockchain to improve the way businesses manage regulatory compliance. That’s where regtech for banks can help.

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PYMNTS

MAY 22, 2019

Faced with a growing number of transactions to process in real time, payment service providers (PSPs), financial institutions (FIs) and FinTech firms also need to make sure the security of these smarter payment systems is up to par. Regulators in regions such as Europe are changing the ways they look at cross-border transactions.

Fraud 180

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Bank Innovation

APRIL 24, 2017

The rise of insurtech is running parallel to the rise of regtech, as financial firms and startups apply artificial intelligence, blockchain, and other technologies to the dizzying world of financial regulation.

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PYMNTS

AUGUST 2, 2019

Data storage firm Seagate revealed that it has moved its anti-fraud blockchain project with IBM into the pilot stage. The regulation applies to individuals, companies and brokerages, and includes crypto-related activities such as buying and selling, donations, barters, deposits, withdrawals and more.

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Bank Innovation

SEPTEMBER 27, 2017

Fintechs are partnering with banks, banks are using blockchain technology, artificial intelligence, and cryptocurrency and financial regulation is still undergoing massive changes. 2017 has been a […].

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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 latest AMC/KYC Tracker examines current efforts to stop money laundering, fight fraud and improve customer identity authentication in the financial services space.

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PYMNTS

FEBRUARY 6, 2019

That reality, of course, places a premium on the accuracy of that data, as well as efficient access to it and the secure storage of all that deeply personal information. Proper care, consumer and insurance payments flow, and fraud prevention all depend on those factors. Healthcare Friction. So have biometrics. Better Patient ID.

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PYMNTS

MARCH 11, 2020

Regulators are passing stricter policies, as well as cracking down on anti-money laundering (AML), Know Your Customer (KYC) and sanctions noncompliance. FIs in the United Arab Emirates are also looking to get ahead of fraud with improved digital KYC practices. Taking A Local Approach To Fighting Money Laundering, Fraud Worldwide.

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PYMNTS

JANUARY 24, 2018

Bitcoin doesn’t necessarily have the blessing of government agencies, but what about blockchain? It seems governments are a bit more open to distributed ledger technology (DLT), though that doesn’t mean blockchain companies get a free pass with regulators. securities bar.”. SEC Chairman Jay Clayton spoke Monday (Jan.

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PYMNTS

JUNE 5, 2018

According to reports in CoinDesk , care of a Chinese government official, China’s central bank has completed its work on a blockchain-based system for digitizing checks issued domestically by businesses. If it gets used as security as part of a loan, that is also visible in its history recorded by the blockchain.

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PYMNTS

JULY 20, 2017

In the midst of today’s retail revolution, blockchain technology is being pushed up to the surface. E-Commerce’s increasing popularity over the last decade is likely the driver of blockchain technology implementation. Committing identity fraud is typically at the core of data-stealing schemes in an attempt to steal money.

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PYMNTS

NOVEMBER 14, 2017

The European Securities and Markets Authority (ESMA) warned investors about the risks of initial coin offerings (ICOs) in a statement on Monday (Nov. ICOs are also vulnerable to the risk of fraud or money laundering,” ESMA said in the statement. 13) and also issued rules for firms that become involved in them.

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PYMNTS

JUNE 16, 2018

Russia’s corporate treasurers are working with the nation’s central bank on a blockchain initiative, reports in CoinDesk said Friday (June 15). The initiative eventually hopes to join banks and government agencies that collaborate on contract registration and regulation.

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PYMNTS

APRIL 22, 2019

An increasing number of customers want to onboard with retailers and banks through their mobile phones, putting greater pressure on businesses to provide robust, digital know your customer (KYC) checks and other security measures. How DraftKings Keeps Fraud Out of Fantasy S ports. Around the Digital Consumer Onboarding World.

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PYMNTS

AUGUST 27, 2020

In other news, LVC Corporation , which operates LINE, is announcing the launch of two new products: LINE Blockchain Developers, a developer platform for blockchain services; and the BITMAX Wallet, for managing digital assets, a press release stated.

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PYMNTS

JANUARY 29, 2020

The National Institute for Smart Governance (NISG) in India has published a report recommending that laws around blockchain should be based on what the technology does, and not the technology itself, according to a report Tuesday (Jan. said that national policy might not be enough in terms of crypto regulation. . “We

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PYMNTS

APRIL 14, 2017

The encrypted open source technology that records, stores and transfers information on a public forum in a secure manner to ensure no tampering takes place is truly unique. Primarily, blockchain technology is being used in the finance world among various monetary entities to securely transfer bitcoins or make monetary transactions.

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PYMNTS

JUNE 14, 2018

The Securities and Exchange Commission’s (SEC) leading authority on bitcoin, cryptocurrency and initial coin offerings (ICOs) has ruled that some well-known cryptocurrencies like bitcoin and Ethereum are not securities. As such, they can expect to come under the regulatory control of the SEC and relevant securities laws.

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PYMNTS

OCTOBER 18, 2019

Samsung SDS will reportedly launch a blockchain-based medical claims processing system this month. Securities and Exchange Commission’s (SEC’s) request for a preliminary injunction, and requesting an order to maintain the offer, sale or distribution of Grams — its native crypto.

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PYMNTS

JANUARY 5, 2017

As more banks, industries, companies and even retail brands take on and use blockchain technology in their business, there are the enhanced and innate elements of efficiency and security. “A But blockchain has also become a tracking mechanism, more so a cost-cutting measure for a variety of reasons. billion for a typical lender.

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PYMNTS

MARCH 10, 2017

Naturally, with ease of market entry into various parts of the world economy also comes security concerns. Blockchain technology is often used as the go-to source to enable faster and safer transactions, especially for smaller players in the retail market. and China alone was approximately $660 billion.

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PYMNTS

DECEMBER 2, 2019

Looking back at 2019, and at cryptocurrencies, we may well make the declaration that fraudsters got a lot more brazen … which may mean 2020 is the year lawmakers and regulators clamp down through a global, concerted effort to root out financial crime. billion in fraud and theft seen last year. billion number is a huge jump from the $1.7

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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. Money By Design has launched a project called the Smart Tokenization Blockchain, which uses blockchain to produce and manage tokens. 9) that it will be managing the ICO.

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blockchain Fraud Data Regulation 137

PYMNTS

NOVEMBER 6, 2017

The Social Security number (SSN) was never meant to get this much attention. In a wide-ranging discussion, Socure CEO Sunil Madhu and PYMNTS’ Karen Webster discussed the brave new world of identity security and verification, and what those terms mean when it should be assumed that all of your data has been compromised. Think again.

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PYMNTS

SEPTEMBER 17, 2020

There, people need to change a nation's money for cryptocurrency that isn’t regulated by a government or connected with it. Department of Homeland Security is running a contest for the development of a digital wallet, CoinDesk reported. On another note, the Science and Technology Directorate ( S&T ) arm of the U.S.

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PYMNTS

NOVEMBER 8, 2020

According to the release, Ripple chose DIFC for its “innovative regulations, expansive network and reputation as a leading global financial centre,” according to the release, with the two companies “aligned” in their visions for the future. Tyler Winklevoss, the co-founder of crypto exchange Gemini, said recently that the tweet from U.S.

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PYMNTS

FEBRUARY 26, 2019

It was designed to settle transactions with clients of its wholesale payments operation, mainly for international and securities transactions related to blockchain. Dimon called bitcoin a “ fraud ” during the apex of the crypto boom. The bank said it supported crypto as long as it was properly regulated. “We

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PYMNTS

FEBRUARY 27, 2020

A class-action lawsuit that threatened the world’s third-largest virtual currency, XRP, will continue, as it was not thrown out at the request of blockchain payment services provider Ripple , according to Bloomberg on Wednesday (Feb. Ripple Labs Inc though U.S. Ripple Labs Inc though U.S. XRP fell 8.2

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PYMNTS

JUNE 22, 2018

million to the Korea Internet & Security Agency (KISA), the South Korean crypto exchange said the final figure might be lower as it works with crypto exchanges and others. ” In other news, Net1 Technologies has developed a smart card powered by blockchain technology that can work as a debit card, reports said.

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PYMNTS

MARCH 27, 2017

As far as cryptocurrencies have come in recent years, a number of security and fraud risk elements still remain. We can make risk assessments and analyze blockchain activities,” Chainalysis CEO Michael Gronager told Reuters. But developers are working to bring the seedier side of bitcoin to a close.

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PYMNTS

JULY 24, 2019

This new division and these appointments position DFS as the regulator of the future, allowing the Department to better protect consumers, develop best practices, and analyze market data to strengthen New York’s standing as the center of financial innovation.”. Lacewell said in a press release. The company then pulled the database offline.

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PYMNTS

DECEMBER 11, 2020

As goes banking, so goes fraud. PYMNTS December 2020 AML/KYC Tracker® done in collaboration with Trulioo probes the heightened fraud climate accompanying the mobile-digital shift, zeroing in on key aspects of prevailing in the digital fraud wars. It has ever been thus.

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PYMNTS

JULY 11, 2016

There are a few schools of thought when it comes to the projected role and impact of blockchain technology on the global financial services space. On one side, some believe blockchain will disrupt the traditional banking system to the point of fracture, enabling the movement of money without the involvement of a financial institution.

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PYMNTS

AUGUST 8, 2019

On another note, EZ365 unveiled a plan to roll out an ecosystem based on the blockchain that brings together a crypto casino, digital asset exchange, blockchain educational portal and eSports betting, VentureBeat reported. The exchange’s version 1.0

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PYMNTS

JUNE 23, 2019

Overstock has spent $150 million on its blockchain business, tZero; the company owns 82 percent of the exchange. Byrne predicted that security tokens will reduce friction in capital markets while also improving price discovery. The killer app of blockchain is security tokens,” Byrne said. I perpetrated a fraud.

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Insights on Business

OCTOBER 3, 2018

Advances in artificial intelligence (AI), blockchain, and cybersecurity are poised to transform the financial services industries. These technologies bring capabilities that speed risk modeling, automate fraud detection, ensure regulatory compliance, enable distributed trust, and protect sensitive financial information.

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PYMNTS

MARCH 22, 2019

Government moves at its own pace, for better or worse or both, but that pace can provide opportunities for fraud and expensive errors — mistakes and missteps that can cost hundreds of billions of dollars annually. I could use the app to build upon it, or build my profile” from other sources of data, such as Social Security data.

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Mobile Fraud Security Data 100