American Banker

APRIL 3, 2024

Letitia James, the New York state attorney general, sued Citigroup and argued it should be liable for fraud cases involving consumer wire transfers. But Citi said the AG's view would bring about a "sea change in banking law."

Fraud 81

Fraud New York Compliance Payments 81

FICO

JANUARY 8, 2020

At long last, fraud and compliance infrastructures are starting to converge. In the US, the use of artificial intelligence and machine learning in compliance is set to expand dramatically, per directives from the Financial Crimes Enforcement Network (FinCEN). Fraud and Compliance Infrastructures Converge.

Compliance 52

Compliance Fraud New York City Analytics 52

CFPB Monitor

OCTOBER 25, 2022

Following up on a threat it made back in 2018 , the New York State Department of Financial Services (DFS) announced on October 6, 2022 that it entered into a consent order with Rhinebeck Bank (“Rhinebeck”) to settle discrimination claims involving discretionary dealer markups on retail installment contracts with minority borrowers.

New York 78

New York Lending Community Bank Community 78

PYMNTS

FEBRUARY 21, 2018

We allege that BitFunder operated unlawfully as an unregistered securities exchange,” Marc Berger, director of the SEC’s New York regional office, said in the release. We will continue to focus on these types of platforms to protect investors and ensure compliance with the securities laws.”. In a parallel criminal case, the U.S.

Fraud 102

Fraud Bitcoin New York Regional 102

PYMNTS

DECEMBER 30, 2020

Headquartered in Brooklyn, New York, Songkick is a concert discovery service owned by Warner Music Group. . The deal resolves the five criminal counts including wire fraud, conspiracy and computer intrusion. Department of Justice reached a deal with Ticketmaster before U.S. Further, Ticketmaster will have to report to the U.S.

Los Angeles 223

Los Angeles Fraud New York California 223

PYMNTS

DECEMBER 7, 2018

7), Canadian prosecutors officially accused Huawei Chief Financial Officer Meng Wanzhou of sanctions fraud. The New York Times reported that Ms. The presentation appeared to claim that Huawei operated in Iran in compliance with the sanctions. Meng’s presentation was an act of fraud. On Friday (Dec.

Fraud 116

Fraud United States New York Compliance 116

PYMNTS

APRIL 29, 2019

As part of the agreement, the company must pay restitution to shareholders, as well as implement internal controls and cooperate with the investigations of the former executives allegedly involved in the fraud. While the company previously traded on the New York Stock Exchange, it was delisted last year and now trades over the counter.

Fraud 108

Fraud Indianapolis New York Operations 108

PYMNTS

NOVEMBER 10, 2020

Atlanta payments encryption firm Bluefin is partnering with New York mobile payments processor PAAY to advance eCommerce security. New York-headquartered PAAY, a consumer authentication innovator co-founded in 2011 by James Ruffer and Yitz Mendlowitz, has a new security solution that aims to obliterate hacking and fraud threats.

Security 233

Security New York Atlanta Fraud 233

PYMNTS

MAY 19, 2016

Socure announced a major upgrade to its digital identity verification solution, which now encompasses expanded compliance coverage and global watchlist filtering. The first solution, called Global Watchlist Standard, helps organizations tackle problems with screening identities for standard compliance regulations. Canada, U.K.,

Compliance 100

Compliance User Experience New York Regulation 100

PYMNTS

AUGUST 21, 2020

While Chinese traders are limited to the purchase of up to $50,000 of foreign currency annually, the volume suggests stablecoins could be being used to circumvent the regulation, according to Chainalysis , the New York-based provider of regulatory compliance software.

cryptocurrency 349

cryptocurrency Report Regional Capital 349

PYMNTS

APRIL 18, 2017

In the effort to shore up cyber defenses among financial companies, regulations are looming in New York state. Certification must be made annually about compliance. As New York goes, so does the financial services industry in a sense. There is both the technical and the human aspect of payments fraud,” he said. “At

New York 166

New York New York City Fraud Regulation 166

PYMNTS

APRIL 28, 2020

Richard Weber has been named to the position of general counsel at the New York State Department of Financial Services (DFS), according to an announcement from Superintendent of Financial Services Linda A. He also had previously served as Deutsche Bank’s head of Anti-Financial Crime for the Americas.

Bitcoin 168

Bitcoin Cards New York Fraud 168

PYMNTS

JULY 5, 2020

Bank of New York (BNY) Mellon has announced a new partnership with risk and payments solution provider Early Warning Services , aiming to boost digital B2B payments services for clients. With the new updated solution, BNY Mellon will let clients validate statuses and owners of accounts in real time across the U.S.

Payments 240

Payments User Experience New York Fraud 240

PYMNTS

JANUARY 5, 2018

Western Union has agreed to pay a $60 million fine as part of a consent order with the New York State Department of Financial Services. 4) the fine for violations of the New York Bank Secrecy Act and anti-money laundering laws. The DFS noted that Western Union has a history of compliance issues.

New York 116

New York Fraud Compliance Report 116

PYMNTS

JANUARY 15, 2021

These violations, said FinCEN, “caused millions of dollars in suspicious transactions to go unreported in a timely and accurate manner, including proceeds connected to organized crime, tax evasion, fraud, and other financial crimes laundered through the bank into the U.S. financial system.”.

Capital 268

Capital New Jersey Groups New York 268

Abrigo

JUNE 27, 2023

Key Takeaways Real estate markets are vulnerable to money laundering and fraud because of their transaction size and appreciation over time. The institutions are the ones shouldering the costs of compliance, examinations, and fines. New York City and Miami were the original targets under the first order in 2016.

El Paso 195

El Paso Miami United States New York City 195

FICO

APRIL 29, 2022

With any change, fraud comes hand-in-hand. Some of the changes are related to new digital payments methods like P2P apps, tap-to-pay, and cryptocurrency, which are all growing options in retail environments. All these evolutions mean a changing landscape for retail fraud and scam trends.

Fraud 52

Fraud Retail Payments cryptocurrency 52

FICO

NOVEMBER 10, 2020

I am always glad to see headlines like this one, which ran last summer in The New York Times: “ How to Reduce Credit Card Fraud.” Every Transaction Is Assessed for Fraud. FICO’s patented and proven fraud analytic capabilities have helped organizations save $90 billion+ per year. Steps Ahead of Financial Criminals.

Fraud 98

Fraud Cards Analytics Mobile 98

FICO

APRIL 8, 2022

Data Orchestration for Fraud Prevention. There has been an awful lot of unsettling news about scams and fraud lately. As it happens, orchestration (of both data and process) is one of the most potent weapons in fighting scams and fraud. Scams Are Front Page News. Scams Are Front Page News. A crescendo, even.

Fraud 52

Fraud Data Management Examples 52

FICO

JUNE 14, 2022

Fraud Trends for 2022: Top 5 Includes "Scamdemic" and Bad Bots. FICO's annual conference exposed some of the biggest fraud trends today, from the "scamdemic" to bot attacks. In May, 800 FICO customers and partners joined FICO colleagues at the first FICO World since the pre-pandemic event in New York in 2019.

Fraud 52

Fraud Trends Analytics Cards 52

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. A lot has changed since the last pre-pandemic FICO World conference, held in November 2019 in New York City.

Fraud 52

Fraud Trends South Carolina Risk Management 52

PYMNTS

SEPTEMBER 30, 2020

In today’s top news in digital-first banking, global card issuing platform Marqeta debuted its Tokenization-as-a-Service (TaaS) offering, while the Bank of New York Mellon (BNY Mellon) has named a new executive for global market infrastructure. The news follows Jumio’s Sept.

Marketing 130

Marketing New York Cards Conference 130

FICO

AUGUST 16, 2022

Card Skimming Fraud Grows 700+% in First Half of 2022. Credit card and debit card skimming fraud is back with a vengeance in the US, while other fraud types are seeing global growth. At FICO World 2022, I hosted a session where we talked about global fraud trends like authorized push payment scams and romance scams.

Fraud 52

Fraud Cards Oakland ATM 52

PYMNTS

APRIL 10, 2019

The New York Department of Financial Services has denied a virtual currency license for Bittrex, an American digital asset exchange. Bittrex was ordered to stop operating in New York and close shop within 60 days. Bittrex was ordered to stop operating in New York and close shop within 60 days.

Bitcoin 116

Bitcoin New York cryptocurrency United States 116

Payments Source

NOVEMBER 15, 2018

A Brooklyn, New York, man agreed to plead guilty to conspiracy to commit securities fraud in what’s believed to be the first such case involving an initial coin offering -- the rough equivalent of an IPO for digital currencies, according to a person familiar with the matter.

Fraud 63

Fraud New York Security cryptocurrency 63

FICO

NOVEMBER 1, 2019

Here, achieving success often involves adopting technologies that let established firms connect their past with their future, in ways that catapult robust-but-inflexible legacy infrastructure into new markets and contexts. However, fast time to market only accentuates fraud risk, because real-time payment systems are catnip to fraudsters.

Fraud 40

Fraud Payments Compliance New York City 40

FICO

DECEMBER 7, 2021

Our collective reliance on phones has a number of implications for fraud, and in 2022 I predict that fraudsters will be so dialed in to our mobile lifestyles they will ply their trade in more ways and places than ever—including space. We can make a New Year’s resolution to stop checking our phones 63 times a day. What can banks do?

Fraud 52

Fraud Cards Payments Course 52

FICO

AUGUST 9, 2017

Arguably, there are more financial institutions located in the New York metropolitan area than anywhere else on the planet, so it was only fitting for a conference on AI, Technology Innovation & Compliance to be held in NYC – at the storied Princeton Club, no less. The New York AI conference was no exception.

Compliance 59

Compliance Conference Training New York 59

CFPB Monitor

MAY 6, 2019

The New York Department of Financial Services has announced the creation of a new “ powerhouse ” Consumer Protection and Financial Enforcement Division. Attorney in the Southern District of New York and an Assistant District Attorney in the Manhattan District Attorney’s Office. Prior to her work in consulting, Ms.

New York 90

New York Pennsylvania Compliance Lending 90

FICO

SEPTEMBER 27, 2019

Streamlining fraud detection and anti-money laundering (AML) processes is essential in fighting financial crime faster and more effectively. We heard this message loud and clear at Finovate in New York City this week, as we have from banks and financial institutions worldwide. The Convergence of Fraud and Compliance.

Fraud 40

Fraud New York City Analytics Compliance 40

Perficient

AUGUST 16, 2023

Lessons To Be Learned While Heartland Tri-State Bank of Elkhart is, by far, the smallest to fail in the past year, with the next closest in size being Signature Bank in New York (Signature failed on March 12 th , 2023 with $110 billion of assets and $88.6 billion in deposits), the failure still poses lessons for bank executives.

United States 221

United States Kansas FDIC Risk Management 221

Abrigo

APRIL 6, 2022

Now, financial institutions and their service providers must also meet new obligations for reporting on computer-security incidents when they occur. In this guest column by Jeffrey Taft and Matthew Bisanz of Mayer Brown 's Financial Services Regulatory & Enforcement practice, learn more about how to be ready for compliance.

Security 195

Security Regulation District of Columbia United States 195

ABA Community Banking

DECEMBER 3, 2015

It comes down to reality Management Duties Compliance Blogs AML & Fraud BSA/AML.

New York 40

New York Fraud Compliance Management 40

PYMNTS

SEPTEMBER 21, 2020

The consortium reports that suspicious activity reports were filed by a few large banks: In terms of a report “tally,” Deutsche Bank filed 982, Bank of New York Mellon had 325, Standard Chartered Bank filed 232 and J.P.Morgan Chase had 107. percent of FIs believe AI is an effective tool for stopping fraud before it happens.

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Fraud Report System FDIC 347

PYMNTS

JANUARY 23, 2019

.” Patrick Crosson, Swift Prepaid vice president of sales, emerging markets, added that financiers like Bitty need compliance and scalable solutions to meet their customers’ needs as they look beyond traditional lenders.

Samsung 162

Samsung New York Branding Apple 162

FICO

AUGUST 14, 2019

In New York City, retail icons Barneys New York and Dean & Deluca are in bankruptcy , victims of rising rents and a dramatic increase in online purchases of luxury goods. These trends are catnip for fraudsters looking to perpetrate high-value card-not-present (CNP) fraud. Fighting Back Against CNP Fraud.

Fraud 40

Fraud New York City New York Online 40

PYMNTS

SEPTEMBER 17, 2019

Regulators are also looking over Metro Bank’s regulatory reporting and governance for compliance. . “As Metro Bank has been mired in controversy and in May was hit with an investigation by two New York law firms, Pomerantz and Levi & Korsinsky, on behalf of investors concerned that the institution committed securities fraud.

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Metro Management Regulation New York 116