PYMNTS
MAY 23, 2016
While, in the Bangladeshi cyberheist, SWIFT cleared itself of any responsibility leading to the fraud attack, a SWIFT veteran has come forward and pointed out that SWIFT has long-known that its connections to users are its weakest link and that it needs to ramp up on improving security around it, The Wall Street Journal reported.
PYMNTS
SEPTEMBER 30, 2020
Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. The pandemic has refocused scrutiny on the open banking ecosystem’s privacy and security.
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South State Correspondent
APRIL 10, 2023
CRE Risk Background While ten years ago, community and regional banks use to make up some 55% of the CRE market, in 2023, these banks now compose approximately 72% (below). Another 1,305 community/regional banks were driven into the hands of competitors through M&A ( HERE ). This article explores the risk and what to do about it.
PYMNTS
DECEMBER 11, 2019
Since the rise of M-Pesa in 2007, mobile money wallets have become prevalent across Africa. But as popular as the region is for remittances, it is also expensive to send them, with an average cost of 9.3 That addition comes as, according to the World Bank, remittances to sub-Saharan Africa are set to increase by over 5.6 percent.
PYMNTS
FEBRUARY 19, 2019
and Estonia, over more than $226 billion in payments from the Russian region, through the Estonian branch. The money in question was moved between 2007 and 2015. Danske is being investigated in numerous countries, including Britain, Denmark, the U.S. The bank was ordered to close the Estonian branch on Tuesday (Feb.
PYMNTS
NOVEMBER 28, 2018
The contention is that transactions worth an estimated $225 billion, from 2007 and 2016, may have been used as part of criminal money laundering. An economist with Nordnet, an investment company in the region, said investors have prepared for a fine in the area of $4.5 The charges are related to the bank’s branch in Estonia.
American Banker
MAY 24, 2016
A three-judge panel said federal prosecutors failed to prove Countrywide Financial, later acquired by B of A, had defrauded Fannie Mae and Freddie Mac when it sold them troubled loans in 2007 and 2008. While it found Countrywide knew it was selling faulty loans there was a lack of evidence of intent to deceive at…
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