PYMNTS

MARCH 18, 2019

Authenticating.com is working to combat identity fraud by combining different solutions to securely automate and outsource identity verification and fraud prevention as a service. billion in losses due to cybercrime, with various forms of identity fraud topping the list.

Fraud 108

Fraud Knowledge Base Regulation Data 108

CFPB Monitor

JUNE 30, 2022

Of special note, the OCC also believes compliance risk is “heightened” for Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) compliance because of world events and compliance staffing concerns. BSA/AML Compliance Risks. Cybersecurity Risks.

Compliance 78

Compliance Fraud Technology Operations 78

PYMNTS

MARCH 24, 2017

Efforts to combat fraud must therefore involve to an enterprise-wide discussion, not solely limited to payments professionals and panels. Compliance is also becoming an enterprise-wide endeavor, and compliance officers must adopt a global mindset. CGI looks to their sandbox capabilities for these real-time validations.

Compliance 157

Compliance Fraud Regional Examples 157

Abrigo

FEBRUARY 15, 2023

Develop your risk assessment with the AML/CFT priorities in mind Evaluating each FinCEN priority and addressing them in your financial institution's risk assessment is key to compliance. A coordinated approach between the institution’s risk and information security departments is essential to an effective cybercrime prevention program.

Fraud 195

Fraud United States Training Policies 195

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.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

Abrigo

APRIL 18, 2022

It experienced a downward correction from 2018 to 2019, sometimes referred to as the "crypto winter." On the flip side, Ukraine is demonstrating that digital assets used legitimately have a powerful impact, and cryptocurrency is unmatched as a quick, secure payment method. Priorities. National objectives in cryptocurrency policy.

cryptocurrency 195

cryptocurrency Fraud United States Leadership 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. Textual analysis.

Regulation 309

Regulation Industry Risk Management Analysis 309

Abrigo

MARCH 4, 2022

You might also like this whitepaper, “New Account Fraud: A Behind-the-Scenes Look at Cyber Threat Actors” DOWNLOAD . Takeaway 2 FinCEN has issued numerous advisories about cybercrimes, which financial institutions should understand and reference. The key is to be proactive and have the intelligence before the fraud,” Gibor said.

Exercises 195

Exercises Leadership Fraud Resources 195

PYMNTS

DECEMBER 17, 2018

It’s been six months since the General Data Protection became law of the land, at least in the European Union, and yet the majority of companies that must be in compliance with that mandate are woefully unprepared. May 25 should have been the wakeup call, but it’s not too late to begin your compliance journey. The time is now.”.

Report 167

Report Fraud Compliance Apple 167

PYMNTS

OCTOBER 13, 2016

Regulation and compliance can be a tough space for many to wrap their heads around. As technology advances, the threat to digital security and identity protection becomes greater, forcing regulations to quickly adapt. Compliance Decoded. Why Compliance Is Going Social.

Compliance 100

Compliance blockchain Regulation Data 100

FICO

MARCH 22, 2022

Account takeover fraud (ATO) occurs when an unauthorized person takes control of an account. While individuals are frequently the victims of account takeover fraud, businesses, particularly small businesses, can be as well. Fraud exists within a supply chain. How Can Financial Institutions Tackle Account Takeover Fraud?

Fraud 52

Fraud Examples Data Security 52

South State Correspondent

NOVEMBER 9, 2023

The underlying point here is that banks have traditionally used fraud data on an ad hoc basis. Equally important is for banks to either use a single set of fraud management tools across the organization or at least orchestrate the various fraud tools into a comprehensive unit.

Trends 195

Trends Technology Fraud Data 195

PYMNTS

APRIL 23, 2019

This means fantasy sports platforms must enact robust anti-money laundering (AML), KYC checks and other fraud monitoring services. At the same time, these providers cannot afford to implement security procedures that slow onboarding processes, as that could risk losing customers to competitors that offer the speed and ease they seek. .

Security 108

Security Puerto Rico Data Operations 108

FICO

MAY 27, 2022

Fraud at the point of application has long been an issue for lenders. We have seen insurance, utilities and mobile phone contracts all targeted by application fraud. Application fraud soared during the pandemic and continues to grow today. In most cases, fraud controls are still not taking place at the point of application.

Fraud 52

Fraud Customer Experience Data Examples 52

Tech and Finance

MAY 18, 2018

SAS has created a new global Fraud and Security Intelligence Division to help organizations better detect and combat threats from fraudsters and hackers. The division will further focus and sharpen the SAS efforts to combat fraud and cybersecurity.

Fraud 28

Fraud Security Analytics Compliance 28

FICO

JANUARY 19, 2022

From TBML to BNPL to NFTs, 2021 found fraud and financial crime professionals dealing with a plethora of new challenges and criminal schemes. Our five most popular posts of the year dealt with trade-based money laundering, non-fungible tokens, buy now pay later scams, courier scams and good old credit card fraud. Here are excerpts.

Fraud 52

Fraud Cards Report Analytics 52

PYMNTS

OCTOBER 10, 2018

But just as it was a disruptive force when it emerged in the mid-19th century, today the wire has secured a bit of attention as players like SWIFT move to promote faster, more efficient cross-border transfers. billion via business wire fraud between October 2013 and December 2016, the FBI calculated. Thieves attempted to steal $5.3

Fraud 116

Fraud Compliance Innovation Payments 116

Abrigo

MAY 10, 2021

Takeaway 3 Aite Group assessed client references to evaluate vendors of loan origination systems and important features. The commercial loan origination solution also allows customers or members to upload documents securely online without the risks of email or the inconvenience of having to drop them off at a branch.

System 195

System Lending Analysis Software 195

PYMNTS

FEBRUARY 15, 2019

Krebs on Security noted that the emails sent to officials at the United States credit unions looked like they were being sent by other BSA officials. In reference to the ongoing Wirecard saga over allegations of fraud, Reuters reported this week that, in Singapore, police have raided the German firm’s operations there.

Compliance 122

Compliance Fraud United States FDIC 122

PYMNTS

MARCH 23, 2020

More companies are focusing now on the onboarding process as a first line of defense against sleeper fraud, by making sure that fewer fake accounts get created to begin with. Refer back to the first sentence to see why this starts to get painfully complicated, and quickly too. But it all hinges on reliable data.

Fraud 130

Fraud Customer Experience Resources Compliance 130

PYMNTS

JUNE 15, 2018

In reference to the partnership’s advantages, the firms said, is the elimination of manual data entry and accounting. In the Middle East , RAK Bank has said it will offer Sage accounting software to business banking customers, in an agreement that helps those firms manage value-added tax (VAT) compliance mandates.

Fintech 115

Fintech Compliance Software Taxes 115

PYMNTS

SEPTEMBER 26, 2019

While artificial intelligence (AI) has been referred to as a lifesaver many times on these pages, usually it is a figure of speech. And while the headline use cases have been in the world of fraud and compliance protections, the reality, he said, is that the application of AI tools is expanding. “We The Growing Playing Field.

Fraud 158

Fraud System Tools Data 158

PYMNTS

FEBRUARY 18, 2019

Indeed, what will drive crypto adoption, Chell told PYMNTS, is in the technology’s ability to reduce payments friction, and integrate compliance and security. However, the company first rolled onto the scene as a partner of GunBroker , allowing the firearms retailer to offer its own digital coin as a more secure form of payment.

cryptocurrency 175

cryptocurrency Payments blockchain Compliance 175

FICO

JUNE 23, 2021

Department of Justice (DOJ) – specifically the Fraud Section -- releases its “year in review” report. While the report encompasses the results of activities across its three litigation units of the Fraud Section (FCPA Unit, MIMF Unit and HCF Unit), the focus of this post is the 2020 activities of the Fraud Section’s FCPA Unit in 2020.

Trends 52

Trends Fraud South Carolina Compliance 52

PYMNTS

AUGUST 5, 2019

Fraud comes in many flavors, and a payments-related lawsuit arising from the growing business of legal, recreational marijuana is proof of that point. Technology can help prevent such fraud, particularly that associated with beneficial ownership of company and using shell companies in support of fraudulent activities. The good news?

Company 163

Company Payments Fraud Meeting 163

PYMNTS

MARCH 5, 2019

Compliance and regulatory issues remain top of mind, of course, but so does the overall experience of both buyers and sellers. She stated, too, that a fraud detection team is tasked with watching for and preventing account takeovers. Data breaches, identity fraud and online scams are never identical or static instances,” she said.

Regional 148

Regional Mobile Security Fraud 148

PYMNTS

DECEMBER 5, 2017

Through improving technology and decreasing costs, AI and Big Data are now combining to help firms in the financial sector prevent payments fraud. It’s no secret that traditional methods of fraud detection are inefficient at best. The Stage was Set with Big Data. Where manual processes abound, though, it is likely costs can be reduced.

Big Data 214

Big Data Fraud Data System 214

PYMNTS

JANUARY 25, 2019

This inquiry will examine a discreet issue relating to Twitter’s compliance with Article 33 of the GDPR.”. That particular article says a personal breach has to be referred to the commissioner within 72 hours, and it explains the amount and type of info that should come with the notification. “We

Data 190

Data social media Compliance Survey 190

PYMNTS

DECEMBER 16, 2019

Bart Claeys, Head of KYC and Reference Data at SWIFT, said its global KYC registry offers “huge benefits to the 5,000 banks and financial institutions which are currently using it.” . KYC compliance is a pain point for banks and corporates, with more than 90 percent of treasurers agreeing that it’s harder today than it was five years ago.

Groups 130

Groups Data Compliance US 130

Abrigo

JUNE 5, 2023

The sale depleted its capital because SVB was in a large unrealized loss situation on its held-to-maturity investment securities. Curated insights into sources of risk can show which customer types are contributing to additional work related to anti-money laundering/countering the financing of terrorism (AML/CFT) compliance.

Report 195

Report Risk Management Capital Data 195

Abrigo

NOVEMBER 11, 2021

Monitoring this type of activity is where the keen eye of AML and fraud investigations professionals is crucial and where AML software can provide significant support. . Cybercriminals may target organizations with weaker security controls and a higher propensity to pay the ransom due to the criticality of their services. Learn More.

Fraud 195

Fraud cryptocurrency System Trends 195

Abrigo

NOVEMBER 11, 2021

Monitoring this type of activity is where the keen eye of AML and fraud investigations professionals is crucial and where AML software can provide significant support. . Cybercriminals may target organizations with weaker security controls and a higher propensity to pay the ransom due to the criticality of their services. Learn More.

Fraud 195

Fraud cryptocurrency System Trends 195

CFPB Monitor

JUNE 26, 2022

Similarly, the Federal Trade Commission reports that older adults account for 35 percent of the victims associated with filed fraud reports when a consumer has provided an age. Reference supporting documentation, including any photos or video footage, in the narrative. billion in 2019 to $3.4 billion in 2020. Theft and Scams.

social media 78

social media Fraud Resources United States 78

PYMNTS

MARCH 29, 2019

The goals of any digital identity verification process or technology include stopping fraud in its tracks, preventing fake accounts from ever being opened and, at the most basic level, maintaining (and even building) a client’s reputation for trustworthiness. Yet, verify they must, McGibbon told Webster. The Sovereign Model.

Handbook 171

Handbook Compliance Online Data 171

FICO

NOVEMBER 7, 2019

He add, “if you don’t look at the beta behind the climb, you likely won’t take the climb when you arrive” – a reference to yesterday’s keynote speech by free solo rock climber, Alex Honnold. . billion, per year. She cautioned against “ Sharanters ” - people who overshare their children's info on social channels.

United States 40

United States Fraud Customer Experience Analytics 40

FICO

JULY 10, 2020

With this uptick in usage leaving many wondering just how secure this payment method is, I thought it was important to answer some commonly asked questions. They're often referred to as “tap and go,” but there is actually no required contact for this payment mechanism. Are contactless payments secure? by TJ Horan.

Payments 52

Payments Fraud Samsung Security 52

PYMNTS

DECEMBER 4, 2018

3) that urged banks to study and implement “where appropriate” methods that would bring innovate approaches to anti-money laundering efforts and Bank Secrecy Act compliance. “Likewise, pilot programs that expose gaps in a BSA/AML compliance program will not necessarily result in supervisory action with respect to that program.”.

Innovation 161

Innovation Regulation Compliance Idaho 161