Top Community Banking Brief Fraud Operations Content for Week of Sep 07

Email B2B Scams Cost $26B Over Last Three Years

PYMNTS

SEPTEMBER 11, 2019

Fraud Trends. According to an earlier analysis of this particular fraud trend, Ronnie Tokazowski , senior threat researcher at Agari , said, “For trends that we’re seeing, actors have been asking for gift cards instead of wire fraud, but still engage with wire fraud as well. Fraud Crackdown. billion in 2018.

Fraud

Fraud social media Cards Bitcoin

Deep Dive: How FinTechs, FIs Can Arm Up Against Fraud

PYMNTS

SEPTEMBER 12, 2019

Financial services providers that slack on regulatory compliance and fail to safeguard their operations against money laundering, terrorist financing and other criminal activities may face damaged reputations and significant fines. A team of analysts can only handle so many potential fraud cases at a time, after all. . resources.

Fraud

Fraud Fintech Compliance Regulation

How FinTech Apps Can Ace Security

PYMNTS

SEPTEMBER 10, 2019

Companies therefore must either invest in teams of AML specialists or in fraud-fighting technologies. . The September AML/KYC Tracker examines the latest fraud challenges and efforts to ensure tight security and compliance. . This is especially true given rising rates of mobile fraud attempts that put customers especially on guard.

Security

Security Fintech Fraud Compliance

Bridging The Security Gap To Win Customers’ Trust

PYMNTS

SEPTEMBER 11, 2019

Fraudsters have been increasingly focused on mobile services, with one-third of all fraud attacks worldwide reportedly targeting mobile during the first half of 2018 — a 24 percent year-over-year increase. Fighting Fraud Visibly and Invisibly. Facing Future Fraud.

Security

Security Fraud Mobile Cards

UK banks take an accelerated approach to merge fraud, financial crime operations

The Paypers

SEPTEMBER 12, 2019

(The Paypers) Most UK banks plan to integrate their fraud and financial crime compliance systems and activities, in response to new criminal threats and punishing fines, according to Ovum.

Fraud

Fraud Operations Compliance System

The Quick And Quiet Evolution Of Insurance Toward Instant Payments

PYMNTS

SEPTEMBER 9, 2019

Settling the tens of thousands of claims and paying out those funds to all the consumers and businesses who need them will present a series of operational challenges over the next several weeks and even months, Ingo Money EVP and CPO Lisa McFarland told PYMNTS in a recent conversation. But even in less dramatic instances, the issues are real.

Payments

Payments Industry Cards United States

Leverage New Bank Technology by Examining Current Processes, Pain Points

Abrigo

SEPTEMBER 9, 2019

The same is true of financial institutions when they consider technology investments to transform their lending and credit operations. Many banks and credit unions are operating with legacy systems – whether legacy IT or legacy processes. Fraud Prevention. Their systems have been tweaked and patched over the years. Credit Risk.

Technology

Technology Lending Software Customer Experience

Bitcoin Daily: Blockchain Energy Firm Partners With Thai Oil And Gas Company; Binance Poised To Make US Debut

PYMNTS

SEPTEMBER 11, 2019

Pump and dump is a type of fraud that manipulates the price of an asset through a rush of high-volume purchases by fraudsters. In other news, researchers at An.Chain have published evidence of an alleged pump and dump manipulation involving the Chainlink (LINK) token.

blockchain

blockchain Company Bitcoin social media

Fraud and Financial Crime Management Are Converging – But How Fast?

FICO

SEPTEMBER 12, 2019

A new independent survey by research firm Ovum has found that banks in multiple regions plan to integrate their fraud and financial crime compliance systems and activities in response to new criminal threats and punishing fines — but not all at the same speed. said TJ Horan, vice president of fraud solutions at FICO. South Africa.

Fraud

Fraud Management eBook Compliance

Libra Forces Cryptocurrency Regulators To Reexamine Procedures

PYMNTS

SEPTEMBER 12, 2019

The latest AMC/KYC Tracker examines current efforts to stop money laundering, fight fraud and improve customer identity authentication in the financial services space. Nicolas Dinh, chief operating officer at payment app startup STACK, spoke with PYMNTS about how synthetic IDs are a major threat and how FIs can mitigate risk.

cryptocurrency

cryptocurrency Regulation Compliance blockchain

Libra’s Regulatory Wish List For — And From — The Swiss

PYMNTS

SEPTEMBER 11, 2019

Treasury official Sigal Mandelker, who serves as undersecretary of the Treasury for Terrorism and Financial Intelligence, said cryptocurrencies that operate anywhere in the United States will have to comply with regulations that target fraud.

social media

social media cryptocurrency Regulation United States

Getting real about real-time payments in the United States

Accenture

SEPTEMBER 13, 2019

Working directly with our financial services clients on strategic, operational and technical issues, he is on the front lines of the evolution of real-time payments. The nation’s financial institutions serve countless constituencies and have diverse operational and technical infrastructures. We get packages delivered in an hour.

United States

United States Payments US Survey

Chase, AFP Applaud B2B’s Shrinking Check Use

PYMNTS

SEPTEMBER 12, 2019

While more businesses are not only shifting away from paper, but operating with an embrace of digitization, the AFP and JPMorgan warned that checks remain popular and are far from being gone for good in the corporate payments ecosystem. Check and ACH transactions have been around for a long time for a reason.

Survey

Survey Tools blockchain Payments

Google’s AG Onslaught A Big Fizzle For Tech

PYMNTS

SEPTEMBER 13, 2019

As you no doubt know, 50 attorneys general this week announced an antitrust investigation into Alphabet and Google’s operations. For Big Tech, Monday offered a show of unity likely less than desired. The probe will look at all manner of products and services, spanning YouTube, AdMob, the Chrome browser and no doubt more.

Rhode Island

Rhode Island Google Apple Regulation

Bank of England Validates Need for Explainable AI

FICO

SEPTEMBER 9, 2019

816: Machine learning explainability in finance: an application to default risk analysis , the authors make the following observations: ML and AI suffer from a black box problem: The sheer size and complexity of these models make it difficult to explain their operating processes to people. In Staff Working Paper No.

Analytics

Analytics Fraud Regulation Data

Telecom providers and state AG’s enter into agreement to combat robocalls

CFPB Monitor

SEPTEMBER 10, 2019

As a result, efforts to combat fraudulent robocalls by relying on aggressive call-blocking programs, while well intended, could cause unintended operational problems and challenges for financial institutions and other legitimate callers—while simultaneously posing significant frustrations to their consumer customers.

Tools

Tools Washington Examples Technology

CFPB finalizes product sandbox proposal and changes to trial disclosure, no-action letter policies; discloses plans to propose interpretive letter program

CFPB Monitor

SEPTEMBER 12, 2019

Such approval would be “non-operative, meaning that no party can rely on it to trigger the statutory safe harbor.” Like a template approval under the CAS Policy, a template approval would be “non-operative,” meaning that it does not provide permission to any party to conduct a trial disclosure program.

Policies

Policies Compliance Regulation South Carolina

Walmart-Amazon Whole Paycheck Tracker: Expanding Services, New Devices And Rising Challenges

PYMNTS

SEPTEMBER 13, 2019

Surescripts has uncovered evidence that the fraud in connection with ReMy Health’s requests for patient data was not limited to patient medication history information,” said the company’s CEO Tom Skelton. Delivery Unlimited is the next step in that journey,” Tom Ward, senior vice president, digital operations, Walmart U.S.,

Video

Video Data Fraud Tools

Community Banking Brief

Sat.Sep 07, 2019 - Fri.Sep 13, 2019

Email B2B Scams Cost $26B Over Last Three Years

Deep Dive: How FinTechs, FIs Can Arm Up Against Fraud

Trending Sources

How FinTech Apps Can Ace Security

Bridging The Security Gap To Win Customers’ Trust

UK banks take an accelerated approach to merge fraud, financial crime operations

The Quick And Quiet Evolution Of Insurance Toward Instant Payments

Leverage New Bank Technology by Examining Current Processes, Pain Points

Bitcoin Daily: Blockchain Energy Firm Partners With Thai Oil And Gas Company; Binance Poised To Make US Debut

Fraud and Financial Crime Management Are Converging – But How Fast?

Libra Forces Cryptocurrency Regulators To Reexamine Procedures

Libra’s Regulatory Wish List For — And From — The Swiss

Getting real about real-time payments in the United States

Chase, AFP Applaud B2B’s Shrinking Check Use

Google’s AG Onslaught A Big Fizzle For Tech

Bank of England Validates Need for Explainable AI

Telecom providers and state AG’s enter into agreement to combat robocalls

CFPB finalizes product sandbox proposal and changes to trial disclosure, no-action letter policies; discloses plans to propose interpretive letter program

Walmart-Amazon Whole Paycheck Tracker: Expanding Services, New Devices And Rising Challenges

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