PYMNTS

JUNE 22, 2017

There’s another way, though, in which the fear of fraud bears down on the enterprise. A new report from Vesta Corporation finds fraud positions itself in the way of innovation and growth, even compliance. to understand how payments fraud is limiting corporates’ path to success. percent increase from 2016.

Fraud 108

Fraud Innovation Survey eBook 108

CFPB Monitor

FEBRUARY 13, 2017

The FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B. In January 2016, the FTC issued a report warning that certain uses of big data consisting of consumer information may implicate various federal consumer protection laws.

Report 68

Report Big Data Lending Survey 68

PYMNTS

FEBRUARY 27, 2018

trillion in 2016, but companies aren’t always able to see where their dollars are going. The latest report from eNett International , “ It Pays To Know: Fraud In Travel Payments ,” warns that payments fraud is plaguing the global travel space, though, in this case, the issue is imbedded deep within the travel supply chain itself.

Fraud 104

Fraud Marketing Payments Analysis 104

FICO

SEPTEMBER 28, 2020

I’ll be participating in an excellent panel, “ Balancing Fraud Prevention & the Customer Experience ,” at the first virtual edition of CBA LIVE , the must-attend annual event for the retail banking industry. Learn from Fraud-Fighting Superstars. What’s great about virtual conferences is that you can register , today, to attend.

Customer Experience 59

Customer Experience Fraud Strategy Compliance 59

Abrigo

JUNE 27, 2023

Key Takeaways Real estate markets are vulnerable to money laundering and fraud because of their transaction size and appreciation over time. The institutions are the ones shouldering the costs of compliance, examinations, and fines. New York City and Miami were the original targets under the first order in 2016.

El Paso 195

El Paso Miami United States New York City 195

FICO

FEBRUARY 23, 2022

When it comes to fraud, are people worried about the wrong things? New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money.

Fraud 52

Fraud Survey Customer Experience Retail 52

PYMNTS

DECEMBER 27, 2016

PYMNTS consulted 21 payments executives from across the industry to share their insights on the biggest takeaways from 2016 as part of the “Payments 2016, The Year Of…” eBook. Payments 2016: The Year Of The Emergence Of The Global Citizen. 2016 saw more people transacting across borders in larger sums than ever before.

Payments 113

Payments eBook Regional Study 113

ZootBlog

JANUARY 25, 2017

The year 2016 has come and gone but I wanted to provide a recap of the most read Zoot blog posts from last year just as a reminder that although industry news is ever changing, some topics seem to resurface year after year. Here’s a recap of the top five most read blog posts in 2016.

Lending 60

Lending Customer Experience Fraud Google 60

FICO

MARCH 10, 2022

I’ve been writing recently about the results of our recent global consumer fraud survey. But like most things, it’s not as simple as it sounds, as large customer groups are likely to switch banks if they are dissatisfied with their response to a fraud management incident (more on that in a moment).

Fraud 52

Fraud Survey Cards Customer Experience 52

FICO

AUGUST 26, 2021

It’s a question FICO’s fraud head honcho, TJ Horan, pondered back in 2016 , when the nascent real-time person-to-person (P2P) payments service Zelle was relaunched by a small consortium of banks (see below). How to Fight Real-Time Payments Fraud. Packaged real-time payments fraud ruleset. “Do you Zelle?”

Fraud 52

Fraud How To Payments US 52

Celent Banking

APRIL 18, 2016

Celent Model Bank 2016 winners are: Model Bank 2016 Categories. Security, Fraud, and Risk Management. Celent recognized two companies as Model Bank Vendors for 2016: EdgeVerve Systems. Award Winners. Digital Banking Transformation. Citizens Bank, US. DenizBank, Turkey. Garanti Bank, Turkey. Santander, US. CBW Bank, US.

US 100

US Case Study Risk Management America 100

Abrigo

APRIL 18, 2022

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. Fraud Prevention. Fraud Trends. Fraud Prevention. Fraud Trends. Compounding FinCrime Concerns: Pros and Cons of Combining BSA and Fraud Departments.

cryptocurrency 195

cryptocurrency Fraud United States Leadership 195

PYMNTS

SEPTEMBER 9, 2016

PYMNTS recently spoke with Luis Rojas, vice president of product management for Guardian Analytics , an online banking security firm, about the effect of a faster processing environment, the potential for increased fraud and how to mitigate that risk. The Mountain View, Calif.-based People are bracing for a similar spike here,” he added.

Fraud 100

Fraud Analytics Data Payments 100

PYMNTS

MARCH 18, 2016

” Innovation Project 2016 — where hundreds of leaders across the payments, commerce, tech and security ecosystems joined together under one roof with one mission: navigating the balance between the leading and the bleeding edge. “If you don’t disrupt yourself, someone else will.” So, how did Day 2 end up?

Innovation 100

Innovation Security Industry blockchain 100

NCR

JULY 13, 2017

Financial institutions should be braced for a tough fight against fraudsters this year, as they have been warned 2017 is set to be a record year for card fraud losses. Figures from FICO show that in 2016, such attacks were up by 70 percent compared with 2015, on top of a huge 546 percent year-over-year increase from 2014 to 2015.

Fraud 55

Fraud Cards ATM Conference 55

PYMNTS

AUGUST 30, 2019

Today in the payments news roundup, travel technology firm Amadeus is teaming with Visa’s CyberSource to bolster anti-fraud measures for the industry. Amadeus Taps Visa’s CyberSource For SCA Compliance. Travel technology company Amadeus is teaming with Visa’s CyberSource to bolster anti-fraud measures for the travel industry.

social media 101

social media Payments Fraud Taxes 101

PYMNTS

FEBRUARY 19, 2020

.” Another major barrier to adoption is the concern of real-time payments fraud , a threat for both service providers and corporate users. “There is less time to apply traditional fraud techniques,” said Shultz. “There is less time to apply traditional fraud techniques,” said Shultz.

Payments 287

Payments Fraud Survey Fintech 287

FICO

JUNE 15, 2021

All too often, elders today are the targets of residential real estate fraud and scams. Although the laws requiring reporting of financial abuse vary from state to state, the CFPB issued a report in 2016 identifying best practices to assist banks and credit unions with their efforts to prevent abuse. by Darryl Knopp.

Fraud 98

Fraud Capital Marketing Analysis 98

CFPB Monitor

JULY 6, 2016

In its Summer 2016 Supervisory Highlights , which covers supervision work generally completed between January and April 2016, the CFPB highlights violations found by its examiners involving automobile origination, debt collection, mortgage origination, small-dollar lending, and fair lending. million to more than 257,000 consumers.

Lending 68

Lending Regulation Compliance System 68

PYMNTS

MARCH 29, 2018

Conventional wisdom: Online fraud is becoming an increasingly serious threat, one that’s likely to get a lot worse before it gets any better. More than 160,000 cyberattacks were reported last year – more than double the rate recorded in 2016 – making 2017 the worst year on record. Fraud is a hot topic that consistently makes headlines.

Fraud 108

Fraud Compliance System Data 108

FICO

JUNE 26, 2018

But the global adoption of such schemes, alongside the problems suffered by early adopters, has turned the focus to real-time payments fraud. As discussed in my earlier post , real-time payments make multiple types of fraud more attractive and enable the fast movement and laundering of criminal proceeds. Who Is Liable?

Fraud 63

Fraud Payments Regulation Customer Experience 63

PYMNTS

SEPTEMBER 21, 2020

billion transactions for potential suspicious activity and screened more than 157 million transactions for compliance with applicable sanctions requirements. percent of FIs believe AI is an effective tool for stopping fraud before it happens. In one example, reported on Monday (Sept. billion in fines.

Fraud 347

Fraud Report System FDIC 347

PYMNTS

DECEMBER 14, 2016

In a press release, Socure said it will use the capital to scale operations, accommodating the 300 percent growth it has seen in 2016. Socure ’s mission is to assist companies of all sizes in adapting their protection to meet the ever-evolving nature of fraud.

Fraud 100

Fraud Compliance Capital Leadership 100

FICO

MARCH 27, 2017

Four years ago, we at FICO started saying it’s time for banks to upgrade fraud protection in their retail banking departments. Between the Same Day ACH initiative launch on September 23, 2016 and December 31, 2016, there were more than 13 million same-day ACH transactions. Payments speed is one of those recurring themes.

Fraud 40

Fraud Compliance Cards Payments 40

Abrigo

JUNE 15, 2023

Since 2016, the Financial Crimes Enforcement Network (FinCEN), as authorized under the Bank Secrecy Act (BSA), has issued Geographic Targeting Orders (GTOs) to detect money laundering and other illicit activity through real estate purchases. “The You might also like this Russian sanctions compliance checklist. However, the U.S.

Training 195

Training Regulation Compliance System 195

PYMNTS

SEPTEMBER 29, 2020

Jumio said it plans to integrate Beam’s AML screening and transaction monitoring services into its KYX platform to help flag financial crime and streamline regulatory compliance. The Palo Alto-based firm on Tuesday (Sept. The announcement comes on the heels of Jumio’s Sept.

San Francisco 153

San Francisco Compliance Regulation cryptocurrency 153

CFPB Monitor

SEPTEMBER 28, 2016

The CFPB has issued its September 2016 complaint report which highlights complaints about money transfers and complaints from consumers in Pennsylvania and the Philadelphia metro area. In March 2016, the CFPB began accepting complaints about federal student loans. The CFPB began taking money transfer complaints in April 2013.

Pennsylvania 60

Pennsylvania Report Philadelphia Wyoming 60

PYMNTS

MARCH 18, 2019

Worldwide, banks paid out approximately $321 billion between 2009 and 2016, for example, because they failed to comply with money laundering, terrorist financing and other regulations. . banks increasing their AML compliance staffing tenfold between 2012 and 2017, according to one report. Financial and Ethical Security Strategies.

Compliance 181

Compliance Regulation Chicago Tools 181

PYMNTS

OCTOBER 10, 2018

One of the biggest problems with wire, particularly in the B2B payments space, is its target for fraud, and the Federal Bureau of Investigations (FBI) says instances of business wire fraud, commonly referred to as the business email compromise, are climbing. Thieves attempted to steal $5.3

Fraud 116

Fraud Compliance Innovation Payments 116

FICO

MARCH 31, 2016

As FICO’s premiere client conference, FICO World 2016 , heads to the nation’s capital at the end of next month, it is not surprising that regulatory compliance strategies and solutions will be a hot topic of discussion. Model management continues to present financial institutions with new compliance obstacles.

Compliance 40

Compliance DC Washington Regulation 40

PYMNTS

JUNE 15, 2018

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. Using technology would cut costs that come in tandem with anti-fraud efforts. That number now stands at 8,600 individuals.

Fintech 115

Fintech Compliance Software Taxes 115

PYMNTS

JULY 17, 2019

The second Payment Services Directive ( PSD2 ) groundwork laid out in 2016 is about to come to fruition in a few months – Sept. Firms must soon put more stringent fraud decisioning processes in place, and strong customer authentication (SCA) protocols must be built into checkout flows for online transactions that begin in Europe.

Retail 162

Retail User Experience Compliance Regulation 162

CB Insights

MAY 23, 2019

Below, we take a look at some of these frauds and the lessons they can teach entrepreneurs hoping to launch their own products, companies, and funds. Zenefits skirts compliance regulations. Mozido’s fintech fraud fiasco. Virgin Hyperloop One’s utopian vision derailed by fraud. Table of contents.

Fraud 78

Fraud Las Vegas Company Video 78

William Mills

FEBRUARY 9, 2016

Every area of the FI needs to consider how to make better decisions, improve services, make faster decisions, address compliance, use data, market services, increase efficiency, reduce fraud and so on, all while doing more with less and typically having less face-time with customers. Click here to download.

Innovation 41

Innovation Compliance Fraud Data 41

ZootBlog

JANUARY 14, 2016

Over the past several years as banks focused on staying in compliance with myriad new regulations, innovation slowed—nearly to a standstill. In 2016 equilibrium will start to take place as the financial industry embraces the tremendous potential technology holds for them and innovation finds its way back.

Innovation 73

Innovation Industry blockchain Customer Experience 73

FICO

DECEMBER 21, 2016

That means 2017 should be a risky year from a compliance standpoint. Firms should be investing in new sources of data and data aggregation tools to help improve KYC compliance, onboarding, and customer risk profile monitoring.". Today, it’s really only Tier 1 banks that use analytics in AML, KYC and tax compliance areas.

Compliance 40

Compliance Analytics Taxes Groups 40

Abrigo

JULY 17, 2019

Cybercrime is on the rise within financial institutions and other businesses and continues to be at the forefront of the minds of those in the fraud prevention field. Although not all of the following types of fraud are fully internet-based, the IC3 statistics represent the cybercrime side of these crimes.

Fraud 150

Fraud Training Software System 150