PYMNTS

AUGUST 3, 2017

Back in 2004, fraud was on the rise globally. Digital fraud was a new beast, and people didn’t know any better than to be tricked by phishing emails that today would raise red flags for even the most technologically illiterate consumers — sketchy email addresses, poor grammar and those classic sob stories from Nigerian princes, to name a few.

Fraud 123

Fraud Payments Security Data 123

Jeff For Banks

AUGUST 29, 2016

A recent Bank Think post by ConnectOne Bank CEO Frank Sorrentino regarding restoring Glass-Steagall got me thinking about how far the debate has drifted from the root causes of the 2007-08 financial crisis. Yes there was some degree of fraud perpetuated on the borrowing public. In 2007, that number climbed to 127%.

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North Carolina Community Lending Community Bank 60

PYMNTS

APRIL 15, 2019

Security solved. As it turns out, security researchers at Kaspersky Lab have found a darknet marketplace in which hackers are selling digital fingerprints. The marketplace operators sell the data to cybercriminals who use it for identity theft, online fraud and other crimes – and the data is worth anywhere from $5 to $200.

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Fraud Data Security Ohio 129

PYMNTS

MAY 23, 2016

SWIFT network is urging banks to share information on fraud attacks to prevent hacks in the future. It’s a huge wake-up call,” Leonard Schrank, SWIFT’s CEO for 15 years until 2007, told WSJ. They should play a higher role.”. They should play a higher role.”.

Security 101

Security Fraud Regional Report 101

PYMNTS

SEPTEMBER 14, 2016

ACI Worldwide advises that, as the world moves toward immediate payment ecosystems, a holistic view of the transaction, with layered controls from origination to the application of real-time rules, is the only way to push the pedal to the metal on faster payments and put the brakes on fraud. million in 2007 to £52.5

Fraud 100

Fraud Payments Customer Experience Exercises 100

PYMNTS

MAY 23, 2017

In the latest Data Drivers, Uri Rivner, head of Cyber Strategy and vice president of Business Development at BioCatch , stated that as countries around the world embrace faster payments, they may do well to heed some sobering statistics on fraud gleaned from the United Kingdom’s own experience. Data Point One: 300 Percent. In the U.K.,

Fraud 101

Fraud Payments Data Cards 101

Celent Banking

NOVEMBER 11, 2015

New York State Department of Financial Services (NYDSF) is one step closer to releasing cyber security regulations aided by the largest security hacking breach in history, against JP Morgan Chase. The attack began in 2007 and crossed 17 different countries. Mandated training of security will be required.

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Cyber Security Regulation Security New York 100

PYMNTS

AUGUST 18, 2016

The financial messaging service known as SWIFT — which operates as a bank-owned consortium and helps payments in the billions of dollars move globally — has been beset by security flaws, has known about those flaws and has done little to address those flaws. So reported Reuters on Wednesday (Aug. So reported Reuters on Wednesday (Aug.

Security 100

Security Software New York System 100

PYMNTS

DECEMBER 9, 2019

Securities and Exchange Commission (SEC) revoked it for “a string of frauds,” according to the Global Trade Review. The SEC alleged that IIG perpetrated a Ponzi scheme beginning in around 2007. International Investment Group (IIG), which provides loans to small and medium-sized businesses (SMBs), lost its license after the U.S.

America 131

America Fraud Groups Security 131

PYMNTS

MARCH 23, 2020

WHO Chief Information Security Officer Flavio Aggio said the identity of the hacking group isn’t known, and cyberattacks against the organization have increased exponentially during the coronavirus crisis. A hacking organization tried to breach the World Health Organization (WHO) recently, according to a report by Reuters.

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Groups Maine Security US 284

Abrigo

AUGUST 20, 2021

The activity stretches from crimes we know, such as phishing, internet auction fraud, and advanced fee schemes to human trafficking, illegal trade in natural resources (diamonds, timber, etc.), Amnesty International reported in 2007 that an estimated 3.7 Fraud Prevention. Fraud Trends. million men, women, and children.

Training 195

Training Strategy Fraud National 195

PYMNTS

AUGUST 2, 2018

“Abuses in the mortgage-backed securities industry led to a financial crisis that devastated millions of Americans,” said Acting U.S. Today’s agreement holds Wells Fargo responsible for originating and selling tens of thousands of loans that were packaged into securities and subsequently defaulted. Tse, in a press release.

United States 106

United States California Security Fraud 106

PYMNTS

MAY 19, 2019

Wong was in charge from 2007 until 2018. At the same time, the credit unions are on the hook to not only provide for customer experience but also security. The move comes after its ex-Chief Executive Officer Kam Wong pleaded guilty to embezzling funds, reported Reuters.

New York 181

New York Security Customer Experience Innovation 181

Javelin Strategy & Research

NOVEMBER 15, 2022

Banner Section Home Rss.xml 2023 Trends & Predictions Javelin’s Trends & Predictions reports look at the coming year across the range of Javelin Strategy & Research’s practice areas—digital banking, fraud & security, payments, and wealth management—and highlight the compelling challenges and opportunities likely to emerge.

Trends 40

Trends Fraud cryptocurrency Banking Trends 40

PYMNTS

SEPTEMBER 30, 2020

The ongoing COVID-19 pandemic is accelerating this shift, making financial institutions (FIs), merchants and their regulatory officials race to secure these new digital users. Cybersecurity and data privacy have always been critical facets of open banking regulations as fraud tends to increase alongside growing online transaction volumes.

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Regulation Data Regional Examples 175

PYMNTS

JANUARY 28, 2019

citizen who was deported last year from Singapore over fraud and drug charges, reportedly posted the information online after gaining access to the registry from Ler Teck Siang, a doctor who had previously run the Ministry of Health’s National Public Health Unit. TechCrunch reported that Mikhy K. Farrera Brochez, a U.S.

Online 122

Online Data Fraud Report 122

Banking 2020

SEPTEMBER 15, 2015

Payment security and speed go hand in hand, according to the Federal Reserve and NACHA. is growing closer to becoming a reality with the formation of a Board Advisory Group that will help NACHA realize its plans to create faster and more secure payments that meet the needs of banking institutions, merchants and many others. Prevention.

Fraud 40

Fraud Payments St. Louis Security 40

PYMNTS

APRIL 30, 2019

The warnings were sent in 2007 and 2013, and the information stems from the outcome of an investigation by the European Banking Authority (EBA). According to the document, Danske Bank was warned by the Russian bank after it acquired Finland’s Sampo Bank and its Estonian business in February 2007.

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Virgin Islands Taxes National Regulation 129

PYMNTS

MARCH 11, 2020

The investigation reviewed the bank’s activities from 2007 through March 2019, and also looked into who their customers were and which transactions were processed. Swedbank has been linked to the money-laundering scandal at Danske Bank, which said its Estonia branch was used to move $221 billion of suspicious funds between 2007 and 2015.

Conference 140

Conference Operations Report Payments 140

PYMNTS

OCTOBER 8, 2018

They are highly sophisticated, well-capitalized crime rings that are recruiting Ivy League talent to think of new approaches to get around the rules most systems are using to screen for fraud. Instead, he said, they cost banks billions in fines, and even more in reputational damage. New Technology For Regulators.

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Fraud Regulation Compliance System 190

PYMNTS

MAY 4, 2016

Nikita Kuzmin, who created the “Gozi” malware, pled guilty to various computer intrusion and fraud charges back in May 2011, the United States Attorney for the Southern District of New York said in a press release.

United States 100

United States Fraud New York Software 100

PYMNTS

SEPTEMBER 19, 2018

The bank said Wednesday (September 19) that about $233 billion moved through the Estonian branch from 2007 through 2015 and that a large amount of the payments were questionable. The transactions reportedly happened between 2007 and 2015 and involved money from Russia, Azerbaijan and Moldova, all former Soviet Union states.

Report 170

Report Meeting Payments Company 170

PYMNTS

OCTOBER 25, 2018

The data, which was processed from 2007 through 2014, was accessible to developers of third-party vendors without the Facebook users providing consent. Information Commissioner Elizabeth Denham confirmed the action with CNBC, saying that Facebook failed to keep the personal information of its users secure.

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social media Data Security Report 134

PYMNTS

MARCH 18, 2019

The heart of the investigation lies with over $226 billion in payments that flowed through the bank’s Estonian branch between 2007 and 2015. Securities and Exchange Commission also said it was opening a probe last month. In response, members of the bank’s executive board have waived bonuses for 2018.

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Leadership Policies Management Meeting 191

PYMNTS

MARCH 7, 2019

billion) were transferred between Danske and Swedbank spanning several years from 2007 to 2015. Was there any risk that a payment in 2007 slipped through? A Swedish TV show said last month that it found evidence that 40 billion Swedish crowns ($4.30 She did acknowledge mishaps may have happened.

Regulation 116

Regulation System Report Operations 116

PYMNTS

DECEMBER 2, 2019

Danske Bank was no longer allowed to operate in Estonia after it admitted that $220 billion of questionable money went through a branch there between the years of 2007 and 2015. . Investigators in Germany are now trying to figure out whether the transactions were covered up for a reason, and who’s responsible for doing so.

Washington 200

Washington New York Regulation Report 200

PYMNTS

FEBRUARY 20, 2019

billion) were transferred between accounts at Danske and Swedbank between 2007 and 2015. “We Was there any risk that a payment in 2007 slipped through? Estonia isn’t the only one investigating Danske; Denmark, Britain, France and the U.S. Now, A Swedish TV show said it found evidence that 40 billion Swedish crowns ($4.30

Operations 116

Operations Report Payments System 116

PYMNTS

AUGUST 6, 2018

Wells Fargo , the embattled national bank, disclosed in a Securities and Exchange Commission filing that hundreds of individuals saw their homes in foreclosure because of a glitch in software the company used. According to a report in CNN citing Wells Fargo , software it used denied mortgage modification requests incorrectly.

United States 120

United States Software Taxes National 120

Fintech Labs Insights

APRIL 12, 2024

I’m taking suggestions here (so far: crypto, BNPL, earned-wage access, chatbots, deposit networks).

Innovation 15

Innovation Fintech Online Mobile 15

PYMNTS

SEPTEMBER 4, 2018

ING has said that it expects no further fines with the Securities and Exchange Commission. That finding comes from consultant Promontory Financial, and where Danske’s money laundering scandals stretched from 2007 to 2015. Veon acknowledged the illegal activities and agreed to its own $795 million settlement with U.S. billion.

Groups 116

Groups Policies Report Security 116

PYMNTS

MAY 13, 2019

The money laundering went on from 2007 to 2015. That implies the Department of Justice and authorities in Denmark are coordinating their efforts. In September Danske disclosed that €200 billion worth of money flowed from Russia and ex-Soviet states to the Danske Estonia branch.

Regulation 139

Regulation Report Capital Marketing 139

FICO

NOVEMBER 11, 2020

Marcel has been working as an editor in financial media publications since 2007. From 2007 he has specialized in financial services and consumer credit. In the past he worked for KBC Group as a founding member of big data, advanced analytics and AI competence center. Marcel Le Gouais, managing editor at Credit Strategy.

Meeting 52

Meeting Analytics Big Data Management 52

Tomorrow's Transactions

JULY 26, 2016

Earlier in the week I blogged about mobile banking security , and I said that in design terms it is best to assume that the internet is in the hands of your enemies. Anyway, the point is that the internet isn’t secure. I saw Charles Brookson, the head of the GSMA security group, make a very interesting point recently.

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Security Guidelines Samsung Apple 30

PYMNTS

FEBRUARY 19, 2019

The money laundering scandal is focused on money that moved through the Estonian branch between 2007 and 2015, with little oversight or questions on the part of Danske Bank. If the bank is found to have breached EU rules, the European Banking Authority (EBA) could make recommendations to the local regulators in Denmark and Estonia.

Regulation 122

Regulation Report Operations Marketing 122

PYMNTS

OCTOBER 15, 2019

Danske Bank was no longer allowed to operate in Estonia after it admitted that $220 billion of questionable money went through a branch there between the years of 2007 and 2015. The bank has recently said that it’s made its money laundering controls more stringent.

Report 110

Report Regulation Operations Fraud 110

PYMNTS

FEBRUARY 19, 2019

The money in question was moved between 2007 and 2015. Danske is being investigated in numerous countries, including Britain, Denmark, the U.S. and Estonia, over more than $226 billion in payments from the Russian region, through the Estonian branch. The bank was ordered to close the Estonian branch on Tuesday (Feb.

Regulation 109

Regulation Regional Operations Report 109

PYMNTS

JUNE 21, 2016

Sage noted that in a 2007 report, Celente financial research reported that there were 11 billion B2B transactions in the United States alone, and 70 percent of that tally was paid via paper checks. The hesitancy has given way to some change, incremental change, to be sure, but change nonetheless.

United States 125

United States Cards Payments System 125