Perficient

APRIL 2, 2021

The RFI also solicits the industry’s views on the use of AI in financial services to assist in determining whether any clarifications from the agencies would be helpful for the use of AI in a safe and sound manner. Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection.

Regulation 309

Regulation Industry Risk Management Analysis 309

Abrigo

NOVEMBER 1, 2021

Combating Cyber-Enabled Fraud Requires Communication Increases in cybercrime or cyber-enabled fraud deserve attention from financial institutions, as Abrigo expert Terri Luttrell explains in this video. . You might also like this whitepaper, "The 2021 BSA/AML and Fraud Staff Survey: Top Issues for FinCrime Fighters".

Fraud 195

Fraud Video Training Compliance 195

PYMNTS

DECEMBER 16, 2020

The industry as a whole lost $165 billion in revenue between March and July, and it is on track to lose $240 billion by 2021 — with the decline expected to continue until the pandemic abates. Mobile ordering apps are largely responsible for keeping the industry above water, but fraud still plagues the sector.

Fraud 310

Fraud social media Mobile Trends 310

PYMNTS

DECEMBER 29, 2020

With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. So it’s important for industry to support them aligned with the obligations they face under the Bank Secrecy Act,” he said. Can you really know your customer if you don’t know their location?”

Fraud 270

Fraud Compliance cryptocurrency Security 270

Abrigo

MAY 12, 2022

Protect your financial institution from cybercrime With cybercrime constantly evolving, what can businesses and financial institutions do to prevent fraud? Cybercrime is a threat to businesses and institutions of all sizes and is at the forefront of the minds of those in the fraud prevention field. These measures can help.

Fraud 195

Fraud Training cryptocurrency Software 195

PYMNTS

DECEMBER 17, 2020

Fraud protection specialist Kount and Philadelphia-based payments platform FreedomPay are teaming up to offer “an integrated, complete solution to enable international expansion with fraud-free payments and frictionless customer” experiences.

Fraud 174

Fraud Payments Philadelphia social media 174

PYMNTS

APRIL 16, 2019

However, as IoT continues to proliferate in more industries and use cases, concerns about data privacy have quickly followed, with consumers and lawmakers ra ising concerns about attacks from bad actors. Another recently introduced piece of legislation aims to protect individuals by regulating facial-recognition cameras.

Regulation 204

Regulation Data Nevada blockchain 204

PYMNTS

JANUARY 1, 2021

If 2020 was the year of streaming media, of content done a million different ways, of apps and Apple, and Google’s and Amazon’s algorithms … it was also the year of Big Tech regulation, where 2020 set the stage for a 2021 that could be seismic in changing the way companies — from Facebook to Apple to debt collectors — interact with consumers.

Regulation 352

Regulation social media Course Apple 352

Abrigo

JUNE 12, 2023

In today's interconnected world, efficient and secure money movement is crucial for individuals and businesses alike. Money transmitters like Western Union, PayPal, MoneyGram, Zelle, and many others, facilitate secure digital transactions, allowing people to send and receive funds across borders and within the U.S.

Compliance 195

Compliance Fraud Regulation Guidelines 195

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. Fraudsters now have more avenues for attack available to them,” Rusi said. A Little Friction Won’t Kill A Relationship.

Fraud 215

Fraud Online Security Compliance 215

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? For example, in the pharmaceutical industry, manufacturers can use regtech to ensure that marketing complies with FDA requirements. Of course, banks and credit unions are highly regulated industries, and this is increasing.

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? For example, in the pharmaceutical industry, manufacturers can use regtech to ensure that marketing complies with FDA requirements. Of course, banks and credit unions are highly regulated industries, and this is increasing.

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

MAY 8, 2024

You might also like this webinar, "The check's in the mail: Understanding and preventing check fraud." Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. How banks and credit unions use genAI today Short supporting copy. Introduce key takeaway below. This short be 2 lines max.

Examples 221

Examples Fraud Resources Risk Management 221

PYMNTS

SEPTEMBER 10, 2019

Businesses that fail to comply with anti-money laundering (AML) and know your customer (KYC) regulations risk major regulator fines and irreparable damage to customer relationships when something goes wrong. Companies therefore must either invest in teams of AML specialists or in fraud-fighting technologies. .

Security 185

Security Fintech Fraud Compliance 185

PYMNTS

JUNE 29, 2020

Open banking is one of the most significant emerging trends in the financial industry, allowing banks and FinTechs to share financial data in a quick, easy and secure manner across a network of platforms. Security Risks Facing Open Banking. million were aimed at the financial industry. Securing Open Banking Systems.

Security 240

Security System Fraud Data 240

Independent Banker

AUGUST 31, 2022

ICBA’s Bank Security Institute offers critical incident response strategies to keep your physical branch location safe. The pandemic forced industries to accelerate their adoption of digital applications, and community banking was no exception. However, it’s important not to let your community bank’s physical security protocols lapse.

Community 91

Community Security Community Bank Fraud 91

PYMNTS

DECEMBER 8, 2020

The holidays aren't always so cheery as the risk of fraud plagues consumers and retailers alike. With the pandemic accelerating a surge in eCommerce volumes, online fraud threats are at their peak, and everything from chargeback fraud to online product scams are dampening the holiday spirit. Corporate-Facing Fraud.

Fraud 178

Fraud Survey Philadelphia social media 178

PYMNTS

JULY 9, 2020

A recent survey found that one-third of businesses were concerned about fraud in their cross-border payments, with an additional 26 percent worried about data security. Yet, businesses all too often rely on methods such as wire transfers, which are more susceptible to fraud. Accelerating Payments Through Cooperation and APIs.

Fraud 141

Fraud Regulation Payments Compliance 141

PYMNTS

SEPTEMBER 12, 2019

billion — 91 percent — of those penalties, while European regulators demanded $1.7 FinTechs could face these same financial pains as regulators increasingly demand that they follow the compliance rules to which FIs must adhere. Financial Companies’ Security And Regulatory Obligations . A report found that the U.S.

Fraud 189

Fraud Fintech Compliance Regulation 189

South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. Unfortunately, most banks don’t gather fraud data across payment channels or track “pre-crime events.”

Conference 195

Conference Payments Fraud Data 195

PYMNTS

AUGUST 20, 2020

online customers have been targeted by COVID-19-related fraud, with phishing scams emerging as the top way these bad actors are attempting to gain access to their victims’ personal data. The jump in online fraud represents a growing problem for both merchants and banks as well as the regulators tasked with monitoring digital transactions.

Data 289

Data Fraud Regulation Online 289

Abrigo

FEBRUARY 9, 2024

The proposed rule is part of a requirement of the Anti-Money Laundering Act of 2020 (AMLA) to initiate transparency within the real estate industry. residential real estate sector but safeguarding our economic and national security.” Know the red flags for money laundering. Illicit actors are exploiting the U.S.

Training 195

Training Fraud Trends Report 195

Perficient

AUGUST 3, 2023

Generative AI ingests data and understands guidelines incredibly well; therefore, businesses across industries are jumping to take advantage of all the possible ways the tool can help save them money and create elevated, uber-personalized customer experiences.

Industry 83

Industry Risk Management Customer Experience Fraud 83

PYMNTS

AUGUST 11, 2020

Merchant cash advance companies avoid much of the regulation banks face by claiming that rather than giving loans to businesses, they’re paying the business cash now in return for a cut of future revenue. Critics argue that the total cash outflow required of businesses that get money from merchant cash advance companies can be disastrous.

Lending 237

Lending Regulation Philadelphia New York 237

PYMNTS

MARCH 2, 2020

is a massive industry. Instead, she noted, an estimated $240 billion is going out the door to fraud, waste and abuse (FWA). We securely store over 18 petabytes of sensitive data — this is a significant amount of data that we’re dealing with every day,” she said. “And Healthcare in the U.S. in 2017 on healthcare services.

Fraud 216

Fraud System Security Leadership 216

PYMNTS

JANUARY 25, 2021

Jonathan Hughes, co-founder and CEO of Pollinate , shares his thoughts on why, and how, the payments industry must support the small businesses coming out of the crisis. The good news is that throughout 2020, the payments industry has been rapidly innovating and seeking to simplify and automate processes for merchants and consumers alike.

Industry 155

Industry Payments Fraud How To 155

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

PYMNTS

OCTOBER 13, 2017

Beyond the metaphor, the sheer “hugeness” of the data breach means that more of this information — sensitive and valuable information ranging from Social Security numbers to birth dates to home addresses — is available to hackers than ever before. That cat’s never coming back.

Industry 144

Industry Security eBook Data 144

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. More is expected on this later.

Fraud 221

Fraud Regulation Report Compliance 221

PYMNTS

OCTOBER 8, 2018

According to The Wall Street Journal , the federal derivatives-market regulator also handed out around $900 million in penalties, higher than the amount in five of the eight years of the Obama administration. Total fines ordered through SEC enforcement activity fell 7.2 percent in 2017 to about $3.8

Regulation 159

Regulation cryptocurrency Minneapolis Fraud 159

PYMNTS

JUNE 13, 2019

If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day. According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2 According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2

Fraud 110

Fraud Security Retail Tools 110

PYMNTS

OCTOBER 9, 2020

The wire service said a Robinhood statement indicated that the company’s internal systems were not compromised and that they are “actively working with those impacted to secure their accounts.”. 9) that hackers may have gained information about customers' personal email accounts, Reuters reported. billion.

Report 336

Report Security Fraud Tools 336

American Banker

NOVEMBER 20, 2023

In our ongoing battle against financial fraud, we need a holistic overhaul of the regulatory landscape to safeguard the financial industry and its stakeholders effectively.

Fraud 41

Fraud Regulation Industry Cyber Security 41

Abrigo

MARCH 7, 2022

Experts weigh in on regulatory hot topics for 2022 Review these 10 insights into what regulators are looking for in 2022 to help your financial institution pass exams with flying colors. Takeaway 1 Regulators have increased their focus on BSA in the first quarter of 2022, and the crisis in Ukraine will put OFAC in the spotlight.

cryptocurrency 195

cryptocurrency Regulation Fraud Policies 195

PYMNTS

AUGUST 16, 2019

Security continues to be a top IoT concern, however: Mounting data breaches and newly discovered device vulnerabilities have prompted wariness around IoT adoption. This month’s Intelligence of Things (IoT) Tracker details how these concerns are driving providers to develop new security approaches. Around the IoT World.

Security 144

Security Data Fraud Software 144

Abrigo

APRIL 18, 2022

Takeaway 3 As global interest in digital assets continues to rise, expect to see more regulation and even centralization of digital currency. The industry's most significant market increase was between 2016 and 2018. Learn how your institution compares with peers when it comes to fraud prevention. Rapid Growth. Priorities.

cryptocurrency 195

cryptocurrency Fraud United States Leadership 195

Abrigo

JANUARY 31, 2023

Regulatory movement expected in the AML/CFT industry Financial institutions should keep an eye on these AML/CFT hot topics while awaiting regulatory guidance. register now Takeaway 1 While the AML/CFT industry seemed to have been in a holding pattern during 2022, regulatory movement is expected for 2023. That represents nearly 2.8

Fraud 195

Fraud Training Regulation Trends 195