PYMNTS

JUNE 8, 2020

If they don’t report takeover attempts from abroad that could pose a risk to the country’s security, company directors in Britain could face the prospect of jail time. In December of 2019, the administration of Prime Minister Boris Johnson included a “national security and investment bill” in the Queen’s Speech.

United States 130

United States National Security Analysis 130

Perficient

AUGUST 16, 2023

Heartland Tri-State began operations in 1985 under the name First National Bank of Elkhart. In 2017, the bank was converted from its National Charter to a Kansas state-chartered bank and renamed Heartland Tri-State Bank. In 2019, it expanded by buying its fourth branch from a competitor.

United States 221

United States Kansas FDIC Risk Management 221

PYMNTS

JUNE 19, 2020

A payments orchestration layer can serve as an intermediary between a merchant and its various PSPs while extending services that support payments analysis, regulatory compliance, cybersecurity, anti-fraud protection and more. percent year-over-year increase since 2019. About The Playbook.

Payments 188

Payments Compliance Resources Fraud 188

PYMNTS

SEPTEMBER 23, 2020

Senior citizens are the demographic group most vulnerable to identity fraud, as they are often not as digitally savvy as their younger counterparts nor as adept in online security best practices. Large investments in security measures are necessary for banks to protect themselves and their customers from this menace. billion in 2019.

Technology 208

Technology Report Fraud Study 208

PYMNTS

MARCH 2, 2020

million individual and business members in 2019. They were not alone in 2019, a year when cybertheft records were set. The February 2020 The Credit Union Tracker ® notes that many CUs already utilize the Automated Cybersecurity Examination Tool provided by the National Credit Union Administration ( NCUA ).

California 130

California Fraud Pennsylvania Community 130

PYMNTS

OCTOBER 13, 2020

Across the globe, terrorists and criminals are leveraging cryptos in what is gearing up to be a significant national security threat to the United States. The report relays a series of anecdotes, such as Ponzi schemes and other fraudulent methods , and points out that in 2019, over $4.5 That’s according to the U.S.

cryptocurrency 206

cryptocurrency United States social media Regulation 206

PYMNTS

SEPTEMBER 11, 2019

Jamal El-Hindi, the deputy director of the Financial Crimes Enforcement Network (FinCEN), spoke at the 2019 Money Transmitter Regulators Association Annual Conference on Wednesday (Sept. financial system by potential findings of non-compliance,” he said. Even if they do, he added, they should be allowed to exist.

social media 116

social media Compliance Innovation Regulation 116

PYMNTS

JANUARY 2, 2020

RuPay is a payment network offered by National Payments Corp. The fine for non-compliance is going to be ?5,000 5,000 a day, and the new rule was brought forward through the Income Tax Rules of 2019, with the idea of boosting more digital transactions as well as supporting NPCI, which is a not for profit organization.

Cards 130

Cards blockchain Cyber Security Retail 130

PYMNTS

JUNE 18, 2020

The London-based trade group for Europe’s ePayments community is waiting for the European Banking Authority , the European Union (EU) banking regulator, to provide the 27-nation bloc with an update on Strong Customer Authentication (SCA). Other, better security solutions should be considered collaboratively.

Groups 131

Groups Regulation Fraud Security 131

PYMNTS

MARCH 18, 2019

Authenticating.com is working to combat identity fraud by combining different solutions to securely automate and outsource identity verification and fraud prevention as a service. Personally identifiable consumer information is encrypted end-to-end, then anonymized, de-personalized and bifurcated to ensure that the data is secure.

Fraud 108

Fraud Knowledge Base Regulation Data 108

PYMNTS

FEBRUARY 24, 2020

The country takes privacy, particularly financial privacy, seriously, passing its Cyber Security Law in 2016, followed by the Personal Information Security Specifications in 2018 and the MLPS 2.0 He described how government regulators recently chastised Alibaba for compliance troubles with its credit scoring feature, Sesame Credit. “In

Regulation 160

Regulation Policies Data Compliance 160

PYMNTS

OCTOBER 19, 2020

Banks are typically required to establish direct links with financial institutions (FIs) in other nations to make or receive cross-border payments. A recent survey found that one-third of businesses were worried about cross-border payments fraud, while 26 percent expressed data security concerns.

Technology 193

Technology Payments Security Survey 193

Abrigo

JANUARY 27, 2020

The National Credit Union Administration (NCUA) has been working on their share of goal setting, as they have released their 2020 supervisory priorities for credit unions, regulation updates, and the agency’s modernization programs. “We Don’t wait for examinations, or even worse, a breach in security to begin focusing on cyber threats.

Risk Management 195

Risk Management Regulation Management Report 195

PYMNTS

FEBRUARY 28, 2020

Credit unions possess vast troves of personal information such as credit card data and Social Security numbers that could devastate members if leaked. million-member Desjardins Credit Union, fell victim to one in June 2019. Third-party incidents are difficult for CUs, as they do not have direct control over outside security practices.

Data 131

Data California Security Pennsylvania 131

PYMNTS

APRIL 18, 2019

Between 2018’s fourth quarter and 2019’s first, the average cost of a ransomware attack spiked by a whopping 89 percent to $12,762. And for corporates that ultimately decide to pay a ransom using cryptocurrency, the regulatory and compliance implications of doing so are sure to stir up anxieties as well. ”

Bitcoin 143

Bitcoin cryptocurrency Compliance Community 143

CFPB Monitor

MAY 17, 2021

The program is free and available for use by all military personnel, including National Guard and Reserve members. In 2020, the CFPB received over 40,800 complaints from servicemembers, a 14% increase over 2019. The Report also offered an analysis of complaints received from servicemembers.

Report 78

Report Compliance Leadership Analysis 78

PYMNTS

FEBRUARY 9, 2018

What regulatory structures will be in place to contain the booming sub-segment of the economy, however, is still an emerging concern, with solutions ranging from outright bans in China to tightened securities regulations in the United States. Gibraltar is also reviewing its rules for investment funds that involve cryptocurrencies and tokens.

Regulation 106

Regulation cryptocurrency United States Security 106

PYMNTS

NOVEMBER 22, 2018

News came this week that as many as half of the ATMs that dot the country’s landscape may be shuttered by March of 2019. New rules mean new compliance activities, which, of course, mean additional compliance costs for these stakeholders — as much as $489 million. In India, get ready for new lines.

ATM 187

ATM Payments Compliance Google 187

PYMNTS

DECEMBER 11, 2020

to advance secure, contactless transactions as stores reopen amid COVID-19 restrictions. Peter Hazlehurst, CEO of Synctera, tells Karen Webster that Synctera is a next-gen banking-services platform that facilitates FinTech scale by enabling banks to leverage their current compliance and account-servicing capabilities in new ways.

Trends 175

Trends Fraud Millennials Community Bank 175

Abrigo

JUNE 13, 2022

According to the National Council on Aging (NCOA), this heartless crime is most likely under-reported due to victims' embarrassment. More banks are reporting to APS, rising from 62% in 2017 to 81% in 2019 and 78% in 2021. Banking Cannabis – Finding More ROI in Your Compliance Department. Learn More. Cannabis Banking. Learn More.

Fraud 195

Fraud Training United States Survey 195

PYMNTS

NOVEMBER 16, 2018

Other nations that are looking at adopting Open Banking — along with rollouts of APIs — include Hong Kong, with APIs slated for debut in 2019 and Australia, which is eyeing Treasury Open Banking by next summer. The directive, of course, seeks to bolster consumer protection through new documentation and security monitoring.

Data 159

Data Compliance Innovation Survey 159

PYMNTS

JANUARY 6, 2020

The most intriguing PSD2 news comes from those that are just now implementing its changes, such as Turkey, which has followed other late bloomers in adopting PSD2 standards with just over a month left in 2019. Preparedness helps with confident compliance . Turkish institutions.

Regulation 131

Regulation Industry Data Regional 131

PYMNTS

FEBRUARY 17, 2020

This week, the National Payments Corporation of India (NPCI) granted Facebook permission to put WhatsApp Pay into operation in a phased manner, The Business Standard reported. The FTC has asked the tech giants to turn over information tied to acquisitions of smaller companies spanning 2010 to 2019.

Regulation 140

Regulation Google Operations Company 140

PYMNTS

APRIL 30, 2020

The international eCommerce market grew to $412 billion by the end of 2019 — a 4 percent improvement over the previous year. Buyers used local payment methods for 77 percent of worldwide eCommerce in 2019, and that figure is projected to reach 82 percent by 2024.

Payments 131

Payments Cards Online Resources 131

Abrigo

DECEMBER 20, 2021

In addition, the CDD procedures were deemed deficient until revised in 2019, and CBOT did not conduct a lookback for possible higher-risk customers that may have been missed. The dates cited are between 2015 and 2019. A strong culture of compliance was clearly lacking at CBOT, as evidenced by this consent order. Be Prepared.

Resources 195

Resources Texas Analysis System 195

PYMNTS

JANUARY 28, 2020

In the latest PYMNTS AML/KYC Tracker®, we learn that crypto is increasingly being defined as a security, not a currency – but either way, it’s getting a lot more scrutiny. The United Nations (UN) actually wants to use identity to help end poverty, calling for a digital ID for every living person by 2030. Know Your Criminals.

Compliance 151

Compliance cryptocurrency Fraud Regulation 151

PYMNTS

DECEMBER 23, 2019

This year, 2019, the average American will spend three hours and 43 minutes per day on mobile devices, just ahead of the three hours and 35 minutes spent watching television. Visner of the National Cybersecurity Federally Funded Research and Development Center ( FFRDC ). They do, in fact, put their pants on one leg at a time.

Lending 131

Lending National System Management 131

FICO

NOVEMBER 29, 2018

This issue was discussed at the NAGGL 2019, National Association of Government Guaranteed Lenders, conference where hundreds of SBA lenders gathered to learn about policy changes, SBA online application submission solutions, how to create successful sales reps, and other trends in the industry impacting SBA lenders.

Community 67

Community Community Bank Policies Leadership 67

CB Insights

SEPTEMBER 11, 2018

Now tech companies are facing a wave of “techlash” — backlash resulting from rising concerns around privacy protections, election security failures, and ethics lapses. We took a look at open job posts at each of the GAFA companies to see how they’re factoring emphasis on privacy, security, and ethics into hiring. .

Google 48

Google Apple Policies social media 48

Lex Sokolin

DECEMBER 25, 2019

If you read anything but this newsletter, you’ve got to read: Blockchain Capital’s 2019 Year in Review Messari Research Crypto Theses for 2020 DappRadar 2019 dapp Industry Review Decentralized Finance Overview So let’s narrow our entire lens to decentralized finance. Two 2019 symptoms have caused this rush?—?Facebook’s

blockchain 52

blockchain Bitcoin Software Lending 52

FICO

FEBRUARY 9, 2023

FICO Admin Tue, 07/02/2019 - 05:23 by Matt Cox VP and General Manager, EMEA expand_less Back To Top Thu, 02/09/2023 - 11:40 Of the £609.8 Measures such as the contingent reimbursement model introduced in May 2019 to reimburse “blameless” victims instead left many exposed. Will there be unintended consequences? And what can banks do?

Fraud 52

Fraud social media Examples Regulation 52

PYMNTS

DECEMBER 8, 2020

billion in 2019, including $2.8 Some exchanges even deliberately avoid having KYC systems by obfuscating their country of origin to make it harder for regulators to impose national compliance guidelines. The traditional financial industry is also struggling with money laundering and KYC compliance. billion by 2024.

cryptocurrency 261

cryptocurrency Mobile Compliance Analysis 261

CFPB Monitor

NOVEMBER 22, 2022

As previously reported in February 2019 federal regulators issued a joint final rule (the “Joint Final Rule”) to implement provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 (the “Act”) that require regulated financial institutions to accept private flood insurance policies.

Policies 148

Policies Meeting Exercises Regulation 148

Abrigo

SEPTEMBER 13, 2022

In an economic and regulatory environment where compliance resources and budgets are stretched thin, financial institutions must carefully evaluate their priorities when it comes to their BSA/AML program. Risk-based approach. Transaction monitoring: a BSA/AML cornerstone. Individualized programs.

Software 195

Software Resources Training Compliance 195

Independent Banker

SEPTEMBER 30, 2021

Building trust in your institution has a lot to do with technology, from implementing strong data security practices to humanizing your online customer interactions. Penetration testing, or pen testing for short, has become a staple of bank IT security programs because hacking threats are constantly evolving. Elizabeth Judd.

Community 139

Community Community Bank social media Security 139

PYMNTS

SEPTEMBER 12, 2018

The new platform, according to Mastercard, helps automate and streamline procure to pay , with an eye toward managing business identities and compliance efforts. The directory, according to the release, will integrate feeds from more than 45,000 compliance lists into a single location, which will help streamline onboarding efforts.

Compliance 103

Compliance National Tools Examples 103

CFPB Monitor

JANUARY 28, 2021

The new report indicates that the Bureau had 1,504 employees as of September 30, 2020, representing an increase of 74 employees from the number of employees as of September 30, 2019 (1,430). The report describes the most frequently cited Regulation Z and Regulation E violations during 2019.

Report 78

Report Leadership Lending Regulation 78