Independent Banker

DECEMBER 31, 2021

What changes will 2022 bring? And as local economies continue to stabilize and many challenged industries bounce back, 2022 may be the year community bankers put the rubber to the road by revisiting goals and turning them into action items. What will drive profit in 2022? Janet Silveria, Community Bank of Santa Maria.

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Community Bank Community Lending Louisiana 144

CFPB Monitor

JULY 19, 2022

On July 13, 2022, the House Committee on Oversight and Reform, Subcommittee on National Security held a hearing entitled “Protecting Military Servicemembers and Veterans from Financial Scams and Fraud.” A recording of the hearing is available here. .

Fraud 78

Fraud National Security social media 78

Abrigo

OCTOBER 19, 2023

Launched to provide resources Cybersecurity Awareness Month was launched in 2004 by the National Cybersecurity Alliance (NCA) and the U.S. The idea was to create a national campaign to educate people about cybersecurity basics, such as using strong passwords, updating software, and avoiding phishing emails.

Online 221

Online Security Resources Training 221

FICO

JUNE 7, 2022

Canada Bankcard Industry Benchmarking Trends: 2022 Q1 Update. Tue, 06/07/2022 - 15:00. These credit card performance figures represent a national sample of approximately 38 million consumer accounts from FICO client reports generated by the FICO® TRIAD® Customer Manager and Adaptive Control System solutions. by Amir Sikander.

Trends 52

Trends Industry Cards Analytics 52

Abrigo

JANUARY 3, 2024

The Final Rule for Beneficial Ownership Reporting , issued in September 2022, establishes definitions for reporting provisions of the FinCEN BOI database. The final access rule does not dictate how to receive consent and allows for flexibility based on differences in FIs across the nation. Below is a short recap of each.

Fraud 221

Fraud Regulation Report Compliance 221

FICO

NOVEMBER 23, 2021

FICO has announced its panel of independent judges for the 2022 FICO® Decisions Awards , which honor businesses achieving outstanding results using analytics and decision management technology to grow their business, manage risk and reduce costs. 2022 Judges (Left to Right): Sidhartha Dash, Paul Deall, Senthil Erulappan, Armando Junior.

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Meeting Analytics Risk Management Management 52

Abrigo

APRIL 6, 2022

New Rule Outlines Computer-Security Incident Notification Obligations for Banks Financial institutions and their service providers should prepare to meet new computer-security notice requirements by May 1, 2022. . The new requirements become effective on April 1, 2022, but compliance is not required until May 1, 2022.

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Independent Banker

DECEMBER 31, 2022

From new fee practices to peer-to-peer fraud, keep an eye on what regulatory changes could be developing in the new year. CFPB issued Circular 2022-06 about two fee practices that it considers unfair and unlawful under existing law. Cyber Incident Reporting for Critical Infrastructure Act of 2022 (CIRCIA) was passed in 2022.

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Compliance FDIC Community Bank Community 100

FICO

AUGUST 29, 2022

Each year, we provide insight into the national average FICO ® Score to help ensure consumers have a baseline measure of credit health standing. Tue, 08/30/2022 - 12:00. Each year, we provide insight into the national average FICO® Score to help ensure consumers have a baseline measure of credit health standing. in April 2022.

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CFPB Monitor

JULY 14, 2022

On July 8, with limited fanfare, the Department of Treasury issued a request for public comment regarding the March 9, 2022 Executive Order entitled “Ensuring Responsible Innovation in Digital Assets” (the “Order”). Nonetheless, the request for comment sets a deadline of only 30 days – August 8, 2022 – for responses.

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United States Leadership Policies Regulation 78

Bobsguide

JULY 14, 2022

London, 23rd June 2022 – Innovative tech-led Payments Bank, Banking Circle, has commissioned a report on what banks need to do to prepare for the widespread adoption of digital currencies. The industry has been working hard to reduce risk by improving fraud and money laundering defences.

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cryptocurrency Fraud National Strategy 88

Abrigo

DECEMBER 10, 2021

New updates to the FFIEC BSA Exam Manual The December 2022 release is the latest since revisions began in 2020 as the council attempts to clarify and achieve transparency. Keeping up with updates as the Anti-Money Laundering Act (AMLA) regulations and guidance are issued will be critical in keeping your AML and fraud programs up to date.

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Training Regulation Policies ATM 195

PYMNTS

FEBRUARY 14, 2019

set a new record, hitting $1.465 trillion, and is expected to reach $2 trillion by 2022. ” “This is a system rife with fraud and predatory lending,” he said, adding that some consumers might have issues with their employers having access to the details of their debt. In November, student loan debt in the U.S.

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System Regulation Analysis Policies 140

CFPB Monitor

AUGUST 31, 2022

On August 10, 2022, four Senators, Elizabeth Warren (D-MA), Dick Durbin (D-IL), Sheldon Whitehouse (D-RI), and Bernie Sanders (I-VT), sent a letter to Acting Comptroller of the Currency Michael Hsu, asking him to reverse four interpretive letters regarding whether it is permissible for national banks to provide cryptocurrency services.

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cryptocurrency National Fraud Regulation 78

PYMNTS

JUNE 13, 2019

It’s undeniably advantageous to the world economy, with a recent study finding that national digital ID systems could induce GDP growth of up to 13 percent. Experiencing such gains comes with risks, however, as digital IDs have presented new and underexplored avenues for fraud. billion by 2022. More than 4.5 with the U.S.

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Security blockchain San Francisco United States 129

PYMNTS

AUGUST 6, 2019

With government agencies working to combat tax evasion and fraud, eInvoice mandates mean a reduced risk of invoice fraud and greater visibility into trade and transactions. on the benefits of an eInvoicing mandate, noting that it would address the nation’s current tax challenges. However, further reforms are needed.

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Regional Taxes System Guidelines 108

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. The following Deep Dive explores cross-border payments’ challenges, including time-consuming government inspections, lack of transparency and the potential for fraud.

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Technology Payments Security Survey 193

PYMNTS

OCTOBER 10, 2019

percent from 2016 to 2022, and uptake is rising even faster in the Asia-Pacific, which is expected to see a CAGR of 27.2 percent from 2016 to 2022. Cloud storage subscription providers are required to offer payment experiences that would-be consumers in both developed and underdeveloped nations find convenient and compelling.

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Marketing Payments Cards cryptocurrency 116

FICO

FEBRUARY 9, 2023

As the PSR’s response to authorized push payment fraud moves towards becoming law, what will the results be? million stolen through fraud in the UK last year, payment scams (or authorised push payment fraud or APP scams) accounted for 41%. A quarter of all losses to payment fraud is under £100. And what can banks do?

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Fraud social media Examples Regulation 52

Abrigo

APRIL 26, 2022

The Financial Crimes Enforcement Network ( FinCEN ) has profiled this global issue by naming corruption one of the eight national security priorities. As a national priority, corruption must be added to each institution’s risk assessment. financial system and national security as it was in 2004. financial system.

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Training Regulation System National 195

PYMNTS

SEPTEMBER 23, 2019

percent from 2018 to 2022. They can also improve cash flows and reduce fraud vulnerabilities because a user doesn’t need to provide banking details and virtual card numbers can be used only once before they expire. Virtual and purchasing cards can also save money, according to the National Association of Purchasing Card Professionals.

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Industry Cards Software Phoenix 169

Abrigo

MAY 5, 2022

Fraud Prevention. Ahead of the Curve: A Banker’s Podcast Bonus Episode – ThinkBIG 2022. Listen to the podcast episode, " How To Sleep Easier at Night About Capital and Risk Levels.". keep me informed. Crypto in Financial Institutions – How to Detect Suspicious Activity within your Investigation. Learn More.

Community 195

Community Lending Maine Resources 195

Gonzobanker

MAY 4, 2022

The 2022 survey produced the biggest one-year change we have ever seen. An institution’s required credit expertise will depend on its business/niches – for example, knowledge of national environmental lending will be unique from that of import/export letter of credit. that really can only be learned on the job.

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Training Survey System Data 144

PYMNTS

MAY 16, 2016

fleet managers consider fuel card fraud a major issue , found oil giant Shell in its first Fraud Matters report on the fleet card industry. A 1-point increase in an SME optimism index boosts levels to a two-year high , according to research from the National Federation of Independent Business (NFIB). 65% of U.K.

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Fintech Lending Fraud Cards 108

CFPB Monitor

OCTOBER 25, 2022

Following up on a threat it made back in 2018 , the New York State Department of Financial Services (DFS) announced on October 6, 2022 that it entered into a consent order with Rhinebeck Bank (“Rhinebeck”) to settle discrimination claims involving discretionary dealer markups on retail installment contracts with minority borrowers.

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New York Lending Community Bank Community 78

CFPB Monitor

JULY 28, 2022

He indicated that the CFPB hoped to take the next step in the 1033 rulemaking process by convening a SBREFA panel by the end of 2022. Director Chopra also linked the CFPB’s concerns with big tech to its concerns about technologies that allow for real-time consumer payments and the increased potential for fraud. Approach to rulemaking.

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Regulation Lending Fraud Meeting 78

Gonzobanker

JULY 8, 2022

In Cornerstone’s What’s Going On In Banking report , 67% of surveyed bank executives listed the ability to attract qualified talent as their top concern in 2022—up from just 19% last year. A national unemployment rate of 3.6% and a shocking 1.3% unemployment rate for I.T. The New CIO Skillset.

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Resources Leadership Technology Management 139

FICO

FEBRUARY 1, 2023

He is a seasoned executive with 20 years global experience within the financial services industry, specializing in fraud and financial crime across all products and services. Matt joined FICO from Barclays where he was global director of Fraud.

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Management Fraud Strategy Analysis 52

Abrigo

DECEMBER 20, 2021

Remember the purpose of BSA, to assist law enforcement in stopping money laundering, terrorist financing, fraud, and other illicit activity. . Staffing Assessments: Why Financial Institutions Should Prepare for 2022 Staffing Needs Now. Be Prepared. Take look at your AML program. The dates cited are between 2015 and 2019. Learn More.

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Resources Texas Analysis System 195

FICO

NOVEMBER 8, 2022

Strong Fraud Protection Could Draw More Customers - Survey. Fraud protection is now firmly on the radar for consumers and has risen substantially as a deciding factor - it could even be a competitive advantage for banks. Tue, 11/08/2022 - 12:20. Fraud Attacks and Media Overload. by Matt Cox. expand_less Back To Top.

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Fraud Survey Security eBook 52

FICO

AUGUST 10, 2022

Wed, 08/10/2022 - 11:55. He is a seasoned executive with 20 years global experience within the financial services industry, specializing in fraud and financial crime across all products and services. Matt joined FICO from Barclays where he was global director of Fraud. Tue, 07/02/2019 - 02:45. by Matt Cox. See all Posts.

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Lending Fraud Meeting Data 52

South State Correspondent

OCTOBER 25, 2023

Over the last ten years, from 2012 to 2022, checks by volume have declined some 57%. This cost includes receiving checks, scanning, providing checks, check security, data verification, check data management, compliance, fraud management, customer service for transactions, handling complaints, dispute resolution, and exception handling.

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Fraud ATM Payments Management 195

FICO

JULY 31, 2019

Tools such as the ABC National Risk Score in the US, which provides a general rating of cyber risk for benchmarking, and the FICO® Cyber Risk Score, which provides company- specific metrics, may be leveraged in combination to provide a directionally correct view of relative risk.

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Cyber Security Management Security Risk Management 70

Gonzobanker

DECEMBER 19, 2022

Who saw 2022 coming and accurately predicted the headlines? A few modest examples of the 2022 roller coaster ride: The Fed rate hikes in 2022 totaled 425 basis points. In December, the founder and CEO of Crypto Exchange company FTX was arrested in the Bahamas (yah, don’t ask) and charged with fraud and conspiracy.

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Community Fintech Industry Innovation 216

Abrigo

JANUARY 3, 2024

According to the National Institute on Drug Abuse (NIDA), deaths involving synthetic opioids, primarily fentanyl, continued to rise, with 70,601 overdose deaths reported in 2021. In 2022, NIDA reported that 109,680 people died as the fentanyl crisis deepened. million encounters occurred in 2022, up from 1.7

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United States San Antonio Training Fraud 221

FICO

MAY 19, 2021

What Is First-Party Fraud? From banks to telcos to debt collection agencies, what looks like unrecoverable bad debt may in fact be first-party fraud. Mon, 07/25/2022 - 11:00. Perhaps surprisingly, consumers sometimes use their own personal information to commit fraud. Both of these crimes are first-party fraud.

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Fraud Groups Analytics Compliance 52

FICO

OCTOBER 7, 2022

Buy Now, Pay Later: BNPL Fraud and Regulatory Update. Buy now, pay later or BNPL financing is experiencing tremendous growth, but that growth can bring potential growing pains like fraud and regulatory scrutiny. Fri, 10/07/2022 - 14:10. As payments professionals well know, change creates opportunities for fraud.

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Fraud South Carolina San Francisco Regulation 52