Abrigo

NOVEMBER 22, 2021

Consumer Lending Laws & Compliance Financial institutions offering consumer loans need to know about these major consumer lending laws and recent compliance issues. Takeaway 1 Risk tied to consumer lending compliance has been elevated as a result of the pandemic and associated operating challenges. Pandemic Issues.

Compliance 195

Compliance Lending Risk Management Regulation 195

Perficient

DECEMBER 27, 2023

Other, traditional financial crime risks, especially fraud, continue to demand banks’ vigilance. Significant increases in Suspicious Activity Reports (SAR) filings related to fraud highlight the importance of effective processes to prevent, identify, and file SARs within a timely manner.

Compliance 221

Compliance FDIC Regulation Fraud 221

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech in banking and finance. What is regtech?

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech for banks to enhance their processes. What is regtech?

Technology 195

Technology Fraud Compliance Regulation 195

PYMNTS

DECEMBER 29, 2020

With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. Complex Compliance. In fact, a recent GeoGuard survey found that U.S.

Fraud 270

Fraud Compliance cryptocurrency Security 270

PYMNTS

SEPTEMBER 24, 2020

These types of payment flows made up 5 percent or more of the gross domestic product (GDP) for 66 countries in 2019, reaching as high as 20 percent of GDP in nations like Haiti and Nepal. . Maintaining compliance with these important regulations can be challenging, but FIs cannot afford to slip up. The Cost of Compliance .

Compliance 223

Compliance Tools Fraud Regulation 223

PYMNTS

MAY 22, 2019

As the need for speed increases worldwide, banks and other financial players are adapting payments to work smarter — not harder. With fraud ramping up, regulators around the globe are starting to take a closer look at everything from typical threats to the use of new technologies, like blockchain.

Fraud 180

Fraud Payments Regulation Security 180

Abrigo

JUNE 12, 2023

You might also like this webinar, " AML Compliance and Sanctions Requirements for Non-Bank Financial Institutions. alone, handling $6 trillion in payments. The money transmitter industry is growing, spiked by advances in fintech and the consumer demand for immediate payment mechanisms. alone, handling $6 trillion in payments.

Compliance 195

Compliance Fraud Regulation Guidelines 195

PYMNTS

OCTOBER 6, 2020

Keeping customers' digital payment data safe and secure is a critical part of doing business in the digital economy, and following Payment Card Industry (PCI) compliance guidelines is an effective way for firms to accomplish this. Getting Up to Speed on Compliance. This can be particularly burdensome for smaller firms.

Compliance 178

Compliance Meeting Payments Cards 178

PYMNTS

JANUARY 31, 2019

Accelerated payments are taking off in several markets around the world, and NACHA’s latest figures demonstrate U.S. demand for faster payment capabilities, too. the Federal Reserve’s Faster Payments Task Force published a report last April urging the nation to review the current regulatory landscape.

Fraud 182

Fraud Payments Compliance Regulation 182

PYMNTS

SEPTEMBER 23, 2020

Banks in the EU have been racing to comply with the General Data Protection Regulation ( GDPR ) and the revised Payment Services Directive ( PSD2 ) since both measures were enacted in 2018. He explained that the cloud can help FIs swiftly respond to compliance and security challenges during the pandemic.

Compliance 225

Compliance Regulation Guidelines Security 225

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

Perficient

APRIL 2, 2021

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. fraud detection and financial crime monitoring). email, text, audio data), with the aim of identifying fraud or anomalous transactions. Cybersecurity.

Regulation 309

Regulation Industry Risk Management Analysis 309

Perficient

FEBRUARY 29, 2024

As new regulations come into play, embedded lending is becoming increasingly prevalent, highlighting the need for banks to leverage data analytics and automation effectively while ensuring compliance with regulatory standards. Debt Collections During times of financial difficulty, considered customer communications are essential.

Trends 221

Trends Industry Analytics Compliance 221

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

Abrigo

AUGUST 19, 2020

Key Takeaways COVID-19-related fraud are not new typologies; they just have a new spin. Adjusting your velocity scenarios can help detect money mule scams and check fraud. . COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

Fraud 195

Fraud System Trends Software 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

American Banker

MAY 22, 2024

A Senate panel has spent much of the last year examining fraud on the bank-owned payments network. Executives from JPMorgan Chase, Bank of America and Wells Fargo are expected to get grilled in Congress this summer over victims of Zelle scams who don't get reimbursed.

Fraud 87

Fraud America Payments Compliance 87

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.

Fraud 150

Fraud Payments Guidelines Regulation 150

PYMNTS

NOVEMBER 12, 2020

European tech firm SIA is forming a technological partnership with German software innovator INFORM to launch a digital service to speed up the authentication process for online payments across Europe. Boni added that the solution was integrated in SIA's infrastructures and will launch quickly to “ensure PSD2 compliance.” .

Payments 165

Payments Compliance Fraud User Experience 165

Abrigo

AUGUST 19, 2020

Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

Fraud 195

Fraud System Trends Software 195

PYMNTS

SEPTEMBER 23, 2019

Falcon X is intended to help pinpoint and probe potential fraud and other financial crimes. ” TJ Horan, FICO’s vice president of fraud and compliance products, said the product is something regulators across the globe have been seeking.

Fraud 131

Fraud Analytics Compliance Regulation 131

PYMNTS

DECEMBER 16, 2020

Robinhood has come under the watchful eye of regulators — this time in Massachusetts. State regulators are set to file a complaint on Wednesday (Dec. 16) saying that the stock-trading platform failed to protect its customers and their assets, violating state laws and regulations.

Massachusetts 178

Massachusetts Regulation Security Compliance 178

PYMNTS

DECEMBER 18, 2018

Now comes a comic book contribution to one of the most vexing and vital issues of modern payments and commerce — fraud prevention and ID compliance. 18) that is has released a free comic and coloring book entitled “ The Adventures of ID Man and Compliance Kid.”. One reason?

Compliance 152

Compliance Fraud Security Course 152

PYMNTS

JULY 11, 2019

Identity verification solutions provider GIACT Systems has announced the launch of gOFAC Monitoring, a new Office of Foreign Assets Control (OFAC) compliance solution to eliminate false positives and boost compliance processing.

Compliance 128

Compliance System Fraud Data 128

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. 1, and applicable to the first quarterly assessment period of 2023 with an invoice payment date of June 30, 2023. Peer-to-peer fraud. Illustration by Monster Ztudio/Adobe. By Mary Thorson Wright. Quick Stat.

Compliance 100

Compliance FDIC Community Bank Community 100

Abrigo

FEBRUARY 5, 2021

You might also like this webinar: "Detecting PPP Fraud: Optimizing Your AML Solution". Takeaway 1 To prevent the kind of fraud that plagued the Paycheck Protection Program in 2020, the SBA has put new measures in place that have created challenges. PPP fraud-prevention challenges arise. New Guidance Out. Ongoing changes help.

Fraud 195

Fraud Lending Taxes Regulation 195

PYMNTS

SEPTEMBER 15, 2020

Although they are vastly different beasts, shifts in the consumer payments ecosystem have significantly impacted the flow of B2B payments. That framework can be applied to merchants' payment solution providers, too. All parties in the payment ecosystem.

Payments 299

Payments Risk Management Management Compliance 299

PYMNTS

DECEMBER 2, 2020

At a time when COVID-19 has seen global eCommerce and digital traffic grow by nearly 70 percent, security experts have braced for a commensurate surge in online fraud as the holiday shopping season continues. Compliance Amid COVID-19. At the center of all these regulations is the consumer,” he said.

Fraud 215

Fraud Online Security Compliance 215

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.

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

PYMNTS

JULY 15, 2020

After weeks of relentless headlines on the collapse of Wirecard , the High Court of Justice in London handed the German payments company a victory on Wednesday (July 15), the Financial Times (FT) reported. Judges dismissed a civil suit that alleged Wirecard of fraud weeks after the company filed for insolvency in a Munich court.

Fraud 160

Fraud Taxes Groups Compliance 160

PYMNTS

NOVEMBER 12, 2020

European tech firm SIA is forming a technological partnership with German software innovator INFORM to launch a digital service to speed up the authentication process for online payments across Europe. Boni added that the solution was integrated in SIA's infrastructures and will launch quickly to “ensure PSD2 compliance.” .

Payments 130

Payments Compliance Fraud User Experience 130

PYMNTS

JANUARY 22, 2021

Global payments firm MoneyGram is advancing its Visa debit card deposit service across Europe in a partnership with Checkout.com and continued collaboration with Visa’s real-time push payments platform Visa Direct. Consumer demand for real-time payments direct to bank accounts and mobile wallets continues to surge.”.

Payments 269

Payments Compliance Fraud Regulation 269

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.

Cards 207

Cards Data Compliance Payments 207

PYMNTS

MARCH 24, 2017

Detecting financial crime activity is no longer a payments problem siloed by job title and sloughed off to payments professionals — it is an organizational effort. As more payments go digital, bad guys must be more closely scrutinized by all levels of any organization.

Compliance 157

Compliance Fraud Regional Examples 157

PYMNTS

JUNE 2, 2020

The world of payments processing will be a very different place by the end of 2020 than it was at the beginning — one where securing transactions will take on a new priority for merchants and consumers alike. Barclays Transact aims to help merchants make online transactions simpler, safer and compliant with the upcoming SCA regulations.

Compliance 137

Compliance Fraud Security Regulation 137

PYMNTS

SEPTEMBER 6, 2018

Compliance and risk? Automating that compliance is now a “need to have.”. Compliance and risk officers have the unenviable task of finding out, sometimes after the fact, that not all the boxes are checked — if they even knew the boxes were there for checking in the first place. Plugging In To Plugins.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133