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

Abrigo

JUNE 10, 2020

Adequately staffed and risk-focused AML resources with good documentation are critical. Adequate, risk-focused AML resources are critical. Get adequate resources. The regulators don’t care what your budget is,” Luttrell says. Focus BSA/AML resources on risk. The recent $450,000 fine of U.S.

Resources 195

Resources Regulation Compliance Policies 195

PYMNTS

DECEMBER 3, 2018

According to a report in the Wall Street Journal citing cyber security specialists, the breach in which the personal information of as many as 500 million customers was exposed began in 2014, going undetected until September of 2018. The hack could hurt Marriott’s reputation at a time when it’s fighting off the likes of Airbnb.

Cyber Security 122

Cyber Security Security Cards Resources 122

Abrigo

MARCH 11, 2022

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. Takeaway 3 NBFIs should review common deficiencies in AML programs that regulators are citing and fix issues before their next audit or exam.

Regulation 195

Regulation cryptocurrency Policies Management 195

PYMNTS

OCTOBER 1, 2019

The global threat of fraud shows no signs of slowing down. Losses related to fraud are valued at $14.7 billion, according to the most recent DataVisor Fraud Index Report. As fraudsters become increasingly aggressive, new global regulations and solutions are being deployed to keep consumers, merchants and banks safe.

Fraud 156

Fraud Millennials Regulation Trends 156

Abrigo

DECEMBER 10, 2021

This release is the latest since revisions began in 2020 as the council attempts to clarify and achieve transparency within sections of this valuable resource. This update clarifies that banking regulators and FinCEN understand that no specific customer type automatically falls into a higher risk category. BSA Rules and Regulation.

Training 195

Training Regulation Policies ATM 195

PYMNTS

OCTOBER 29, 2018

As a result of the passage and adoption of open banking regulations, like PSD2 in Europe, banks and other financial firms are sharing data more freely than ever before. New open banking tools mean new types of financial transactions, which could make fighting digital fraud even more difficult for banks. Adapting To Open Banking .

Security 192

Security Fraud Tools Data 192

PYMNTS

JANUARY 29, 2020

A significant number of firms — notably small- to medium-sized businesses (SMBs) — still use such systems, as 25 percent of smaller firms stated in 2018 that their payroll involved pen-and-paper methods. SMBs need to remain compliant with increasingly complex financial regulations. Taxes And The Automation Benefit.

Taxes 141

Taxes Fraud Tools System 141

CFPB Monitor

JULY 6, 2021

The Priorities have been much-anticipated because, under the AML Act, regulators will review and examine financial institutions in part according to how their AML/CFT compliance programs incorporate and further the Priorities, “as appropriate.”. A prime example of this problem is the inclusion of “fraud” as a Priority.

United States 78

United States Fraud Regulation Compliance 78

PYMNTS

MARCH 7, 2019

Merchants and customers are now transacting under PSD2 and GDPR in the European Union (EU) — regulations that allow a greater window into how customer data is being used. While these regulations are aimed at increasing consumer trust by allowing them more transparency, many consumers in the region are still adjusting.

Lending 198

Lending Regulation Regional Data 198

Abrigo

DECEMBER 20, 2021

Inadequate staffing: The lack of technological and human resources will result in deficiencies in an AML program. Community financial institutions must take note and evaluate their AML program and correct any deficiencies. Inadequate staffing will not be tolerated, and regulators will not care about your budgetary constraints.

Resources 195

Resources Texas Analysis System 195

PYMNTS

MAY 6, 2020

Financial fraud costs businesses an estimated $1.45 trillion, and it resulted in almost half of global organizations noting they were victims of fraud in 2018. This includes exploring emerging anti-fraud solutions and the challenges arising in this space as fraud grows more complex. Regulators in the U.K.

Data 181

Data Fraud Tools Technology 181

Abrigo

MARCH 24, 2021

Anti-Money Laundering Act of 2020 BSA professionals should prepare for changes as new regulations and guidance from FinCEN unfold. Takeaway 2 While the AMLA is now law, regulations, guidance, and other information still needs to be written. These include conducting studies, writing regulations, and publishing guidance.

Regulation 195

Regulation Training Study Policies 195

PYMNTS

MARCH 4, 2020

LaFontaine was warned by his subordinates and by regulators that capping the number of alerts was dangerous and ill-advised. In February 2018, FinCEN collaborated with the Office of the Comptroller of the Currency (OCC) and the U.S. Bank that capping the system due to staff size and available resources could trigger enforcement. .

US 130

US Regulation cryptocurrency Resources 130

PYMNTS

FEBRUARY 4, 2019

A series of regulations was established to encourage a safer, more transparent financial services environment following the 2008 financial crisis. Failure to meet AML/KYC requirement challenges can be costly for FIs, too, with regulators issuing heavy fines for lax security practices or failure to devote sufficient resources to oversight.

How To 161

How To Regulation Compliance Meeting 161

PYMNTS

NOVEMBER 5, 2019

Synthetic identity fraud continues to grow, but far slower than when it ran rampant in 2015 and 2016. billion in Q2 2018 to $1.02 The decline in synthetic fraud growth is attributed to greater adoption of fraud protection programs. Digital identity is facing some problems with success, though. billion in Q2 2019.

Data 101

Data Fraud Security Trends 101

Abrigo

APRIL 26, 2022

Kleptocrats steal the public’s wealth for personal gain and use their positions of power and access to state-owned resources for their benefit. The $25 million assessment was the largest imposed by regulators at that time. BSA Rules and Regulation. BSA Rules and Regulation. BSA Rules and Regulation. Watch Webinar.

Training 195

Training Regulation System National 195

PYMNTS

APRIL 12, 2019

The diversion of resources to prepare for no deal and the high upfront cost of doing business in the UK is also projected to limit the extent to which investment activity will bounce back over the near term,” said the organization. Gig Economy: Critical mass approaches. percent, down from 3.5

Apple 108

Apple Fraud Resources Regulation 108

Abrigo

JULY 23, 2021

The regulations are forthcoming, but institutions now should begin the process of performing a threat-focused risk assessment which will guide them where to focus their efforts. pertaining to human rights, and regulations barring Iran from access to the U.S. from the treaty and re-instated comprehensive sanctions in 2018.

National 195

National Training United States Regulation 195

PYMNTS

SEPTEMBER 9, 2019

The cybersecurity world is witnessing a potentially new, dangerous threat: according to insurance firm Euler Hermes, one of its corporates fell victim to cyber fraud after attackers used sophisticated artificial intelligence (AI) technology to impersonate the firm’s chief executive officer by mimicking his voice on the phone.

Strategy 180

Strategy Security Technology Data 180

PYMNTS

JUNE 5, 2019

Bloomberg reports that a slew of regulators and investigators are looking into QuadrigaCX’s shuttering of operations earlier this year. That’s because Cotten, who died in India in December of 2018, was the only person who knew the passwords to “cold storage.”. The case of the curious crypto exchange, and its quick collapse, deepens.

District of Columbia 128

District of Columbia Bitcoin United States Resources 128

PYMNTS

DECEMBER 14, 2018

Banks will not be penalized if they do not embrace new ways of battling fraud with new tech — meaning they can still adhere to the status quo. Thus, said the agencies, banks should eye technology, and should endeavor to “consider, evaluate, and where appropriate, responsibly implement innovative approaches in this area.”

Compliance 148

Compliance Innovation FDIC Examples 148

NCR

APRIL 30, 2018

According to the EY Global Banking Outlook 2018 , more than six out of ten banks (62 percent) hope to be either digitally maturing or a digital leader by 2020. Capgemini has digital transformation as its top trend for retail banks in 2018, with competition, customer expectations and cost efficiency the key drivers.

Technology 72

Technology Survey Leadership Strategy 72

Insights on Business

DECEMBER 17, 2018

Headlines related to improper conduct, fraud, infringement of privacy data have all contributed to industry re-examining the meaning of GRC in today’s business environment. As IBM VP David Marmer previously noted , in 2018, GRC has come of age. IBM OpenPages 8 – Oversight dashboard. GRC’s coming of age.

Compliance 121

Compliance Resources System Risk Management 121

Independent Banker

OCTOBER 1, 2022

Community bank customers can be at ease knowing that community banks take the protection of their customers’ data very seriously, and community banks are regulated by some of the strictest data privacy laws of any sector,” Estep says. ICBA has many resources banks can use to enhance their own information security program.

Data 91

Data How To Community Bank California 91

CB Insights

FEBRUARY 13, 2020

Stripe is also pursuing some more unexpected offerings, including resources to help companies build their own internal analytics tools, and Stripe Atlas, which helps entrepreneurs create US-incorporated businesses in minutes. Fraud prevention tools. Michelle Wilson, formerly General Counsel at Amazon (2018). Source: Finix.

Online 98

Online Company Retail Payments 98

Insights on Business

NOVEMBER 26, 2018

After all, it is these types of solutions that can create an unmanageable number of false positives that constrain resources and hinder an analyst’s ability to focus on the real threats to his/her institution. Date: Tuesday, November 27, 2018. Specifically: Layered perspectives provide greater understanding in a complex world.

Compliance 123

Compliance Customer Experience Strategy Groups 123

Jeff For Banks

JANUARY 24, 2015

Perhaps regulators would save banks time, resources, and money if they took the age-old parent response to why banks should carry more capital. Regulators are asking for capital plans, and an assessment of risk in the bank''s strategy to determine capital needs. Because I said so!

Capital 60

Capital Analysis Regulation Strategy 60

FICO

DECEMBER 21, 2018

It’s an understatement to say that 2018 was a year of blockbuster data breaches : Facebook, Marriott, Ticketmaster and British Airways, to name just a few. My 2018 predictions blog forecast, “We’ll See Our First Biometrics Hack in 2018.” Biometrics are neither fool-proof nor fraud-proof. Improve Cyber Hygiene.

Cyber Security 40

Cyber Security Comparison Policies Data 40

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. And others disappear forever.

Fraud 78

Fraud Las Vegas Company Video 78

Cisco

MAY 29, 2019

But, when it really comes down to it, how can banks, saddled with regulations and security challenges, compete with the experiences offered by customer-obsessed tech powerhouses and agile fintechs? Customers will inevitably face data breaches, identity theft, and fraud. Power 2019 U.S. Learn more about Cisco Collaboration Solutions.

Customer Experience 71

Customer Experience Retail San Diego Study 71

Independent Banker

SEPTEMBER 30, 2021

Another reason pen tests are increasingly common is that regulations and PCI compliance require banks to furnish annual pen test results. Source: The Harris Poll, 2018 survey. Through manual and automated scans, pen tests search for vulnerable services and hosts, typically caused by missed patches and misconfigured services.

Community 139

Community Community Bank social media Security 139

Cisco

MAY 29, 2019

But, when it really comes down to it, how can banks, saddled with regulations and security challenges, compete with the experiences offered by customer-obsessed tech powerhouses and agile fintechs? Customers will inevitably face data breaches, identity theft, and fraud. Power 2019 U.S. Learn more about Cisco Collaboration Solutions.

Customer Experience 48

Customer Experience Retail San Diego Study 48

PYMNTS

NOVEMBER 9, 2020

there are indications that the opening of data flows between financial services companies has led to strong innovation (and demand for that innovation), and more regulation may loom. regulators have taken a more hands-off approach by issuing non-binding guidelines, thus allowing industry stakeholders to pave the way forward.

Fintech 285

Fintech Data Regulation Innovation 285

PYMNTS

NOVEMBER 25, 2019

In an interview with PYMNTS, Will LaSala, director of security services and security evangelist at OneSpan , said when it comes to corporate banking, international regulations stand among the biggest challenges for traditional FIs. At the same time, fraud remains a pressing and persistent problem. By way of one example, U.S.

How To 141

How To Fraud Security Regulation 141

FICO

JANUARY 15, 2021

The FICO Blog posts last year reflected that – we wrote about everything from the impact on collections, proactive lender communications with consumers, issues with fraud, and of course, how FICO® Scores were impacted. lending decisions (Mercator Advisory Group Analyst Report 2018).

Report 59

Report Payments Cards Data 59

PYMNTS

NOVEMBER 29, 2017

million in Series A funding for its bank, which is slated to be offered in beta in early 2018. It’s your own set of resources that are running on the cloud. We have a unique architecture that’s very private, that keeps the user at heart and is still compatible with the requirements of banking regulations.”. Security is a focus.

Digital Banking 108

Digital Banking Trends Security Regulation 108