Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector.

New York 221

New York Compliance Regulation Analysis 221

Banking Exchange

JANUARY 16, 2023

Chief risk officers say they are seeing cybersecurity risks everywhere, new survey shows Risk Management Feature3 Feature Cyberfraud/ID Theft Compliance/Regulatory Operational Risk Security

Risk Management 139

Risk Management Compliance Survey Security 139

Cisco

APRIL 2, 2024

Record-Breaking Security Vulnerabilities in 2023 According to data from Statista , the amount of vulnerabilities recorded in 2023 hit a record number with 29,000 new vulnerabilities reported. This is… Read more on Cisco Blogs

Compliance 62

Compliance Security Data Report 62

Abrigo

MARCH 21, 2023

You might also like this video on managing interest rate risk. Takeaway 3 Diving deeper into depositor pricing and evaluating loan pricing to ensure compensation for the risk are among strategies to manage interest rate risk. 4.75% over the course of 2022 and 2023. 4.75% over the course of 2022 and 2023. billion – a 39.7%

Risk Management 195

Risk Management Management Strategy Lending 195

Abrigo

MAY 30, 2023

DOWNLOAD Takeaway 1 The effective date of the CFPB's new rule based on Section 1071 of the Dodd-Frank Act is June 28, 2023. But compliance deadlines are tiered. Takeaway 2 Reporting tiers and their deadlines are based on the number of covered transactions to small businesses that a lender originated in 2022 and 2023.

Compliance 195

Compliance Lending Data Regulation 195

Perficient

JANUARY 3, 2024

However, as remote work has become the new norm, the Securities Exchange Commission (SEC) has provided its approval to revise Rule 3110, easing the requirements for brokers choosing to work from home. Additionally, these branches underwent annual on-site inspections to ensure compliance with regulations.

Compliance 221

Compliance Risk Management Regulation Industry 221

FICO

NOVEMBER 21, 2022

FICO Ranks Top 5 in the 2023 Chartis RiskTech100® Report. FICO awarded first place in six categories on risk and compliance technology in the 2023 Chartis RiskTech100 ® Report, including Innovation for the sixth year in a row. Innovation – AI and Decision Management Platform (*New category win for FICO). asokolowski.

Report 52

Report Risk Management Compliance Analytics 52

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 221

Training Compliance Fraud Policies 221

Abrigo

JANUARY 24, 2024

FDIC list The state of acquisitions in a rising rate environment According to the FDIC, there were 44 banks on the problem bank list in the third quarter of 2023, and the agency expects that number to continue to climb in 2024. Can your systems perform the critical day 2 accounting for accretion and amortization?

FDIC 195

FDIC Regulation Strategy Data 195

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 195

Training Compliance Fraud Policies 195

PYMNTS

OCTOBER 16, 2019

The Cost of Compliance. Scandal and fraud tarnishing banks’ reputations aside, the impact that AML compliance controls have had on these banks’ bottom lines can’t be underestimated. And yet, per that same study, 30 percent rate at least one of their AML components as being either “not at all” or only “somewhat” effective.

Compliance 123

Compliance Fraud Study Digital Banking 123

Perficient

MARCH 17, 2023

Blockchain solutions help companies, and their customers, use data to securely handle supply chain disruptions and build resiliency into the visibility process. A properly designed construction action plan on Yankee Stadium in 1974-75 using 2023 technology would likely have each worker scan into the construction site.

blockchain 275

blockchain Management Data Security 275

FICO

DECEMBER 20, 2022

5 Ways Digital Payments Will Change FIs and Fraud in 2023. Vice President, Product Management. As I look back on 2022, I’m reluctant to lean too far into predictions for 2023. But I’ll still weigh in with prognostications for 2023. Buy-Now-Pay-Later Will Win on Customer Experience but Needs Enhanced Security.

Fraud 52

Fraud Payments South Carolina Compliance 52

Abrigo

MAY 24, 2023

Download now Takeaway 1 Under current federal law, banks and credit unions face federal prosecution and penalties if they provide services to legal marijuana-related businesses. Takeaway 2 Considering the urgent need for a legislative solution, the SAFE Banking Act of 2023 could bridge the gap between state and federal marijuana laws.

Lending 195

Lending Fraud Operations Ohio 195

Abrigo

JUNE 19, 2022

New Fed Tool: ELE for 2023 CECL implementation The Federal Reserve's new Expected Loss Estimator, or ELE, tool for CECL is a spreadsheet-based option for smaller financial institutions to implement the current expected credit loss standard. You might also like these webinars especially for 2023 CECL adopters: "CECL Streamlined."

Tools 195

Tools Regulation Data Resources 195

Abrigo

FEBRUARY 14, 2023

Data collection requirements The CFPB 1071 rule is a top compliance concern According to a recent survey , financial institution executives’ top regulatory compliance concern is the final rule from the Consumer Financial Protection Bureau (CFPB) on data collection for small business loan applications. What data must be collected?

Data 195

Data Lending Compliance Resources 195

CFPB Monitor

JULY 21, 2022

On July 13, 2022, the House of Representatives (the “House”) adopted an amendment to the 2023 National Defense Authorization Act (“NDAA”) offered by Maxine Waters (D. in a manner that the Secretary determines appropriate to assess compliance” with the amendment.

United States 78

United States Taxes Regulation Compliance 78

Abrigo

JANUARY 24, 2024

The service also plans to continue working internally with financial institutions to improve the ability of staff tied to anti-money laundering/countering the financing of terrorism (AML/CFT) and fraud efforts to: Prevent a fraudulent event Detect and stop one in progress Manage or mitigate an event that has occurred. million stolen.

Fraud 221

Fraud Payments Software Policies 221

Bobsguide

SEPTEMBER 13, 2022

Our collaboration with Broadridge will provide a more direct chain of proxy communications, and a higher level of service quality for all players,” said Niels Hjort Rotendahl, CEO, Euronext Securities Copenhagen.

Meeting 88

Meeting Security Operations Marketing 88

Abrigo

NOVEMBER 17, 2023

billion to fraud in 2022, a 44% increase over the prior year and a trend that has continued into 2023. As overseers tighten the leash with stringent regulations aimed at protecting consumers, the cost of compliance grows. This is the first-time fraud has been addressed at a high level as part of AML compliance, but it makes sense.

Fraud 195

Fraud Training Trends Compliance 195

Abrigo

JANUARY 3, 2024

Takeaway 2 A December 2023 final rule establishes guidelines for who may access BOI and for what purposes. The second FinCEN rule describing changes to reporting on ownership is the Beneficial Ownership Information Access and Safeguards Final Rule , which was issued in December 2023. Beginning Feb.

Fraud 221

Fraud Regulation Report Compliance 221

PYMNTS

FEBRUARY 18, 2020

This creates new security challenges as firms must learn to centrally manage their fraud protection methods while also gauging threats across many different channels. FIs and PSPs in Europe are particularly interested in robust fraud-busting technologies for SCA compliance, which is mandated under PSD2.

Fraud 131

Fraud Customer Experience Compliance Survey 131

Abrigo

JANUARY 27, 2020

From the Bank Secrecy Act and anti-money laundering (BSA/AML) compliance, cybersecurity, credit risk, the implementation of the new standard for current expected credit losses (CECL), consider these goals for your credit union in 2020. . Examiners will be working with credit union management to discuss plans to implement CECL.

Risk Management 195

Risk Management Regulation Management Report 195

Abrigo

JULY 17, 2019

Securities and Exchange Commission filers until January 2023 for CECL implementation. Other public business entities: January 2023, compared with the current effective date of January 2021. • All others (privately held banks and credit unions): January 2023, compared with the current effective date of January 2022.

Resources 150

Resources Exercises Data Meeting 150

Independent Banker

OCTOBER 1, 2022

But as the prevalence of security breaches grows, so do the opportunities for community banks to position themselves as guardians of their customers’ personal data through compliance, technology and relationship building. Data privacy and security is a hot topic and is only getting hotter. By Katie Kuehner-Hebert. Bob Hickok.

Data 91

Data How To Community Bank California 91

FICO

FEBRUARY 16, 2023

And the data from January 2023 is already trending at nearly 10x increase over 2022. Chip and PIN transactions are more secure than swiping, but consumers will need to take care to cover the PIN pad while entering their number so that thieves cannot capture the unique PIN with a spy cam. Debbie holds a B.A.

Cards 98

Cards US Data Fraud 98

CFPB Monitor

OCTOBER 31, 2022

The Panel, which includes representatives from the CFPB, the Small Business Administration’s Chief Counsel for Advocacy, and the Office of Information and Regulatory Affairs in the Office of Management and Budget, is required to consult with representatives of small business entities that will likely be subject to the rules under consideration.

Data 78

Data Compliance Regulation Policies 78

PYMNTS

AUGUST 15, 2019

Seventy countries had adopted the standard as of May 2018, and it is expected to support 87 percent of the world’s financial transactions by 2023. Deep Data For Swift, Secure Payments . Such adoption rates require investments, however, and FIs must consider the service’s potential benefits and frictions before implementation. .

Resources 145

Resources System Data Payments 145

Cisco

MAY 10, 2022

A modern digital infrastructure is needed to power this operational transformation milestone, however, managing the complexity of the IT estate requires a new approach and new solutions. Dan Nadir, Chief Product Officer at Theta Lake, discusses solving the security and compliance challenges of hybrid work.

Las Vegas 129

Las Vegas Industry Leadership Technology 129

FICO

JANUARY 18, 2023

Wed, 01/18/2023 - 22:50. Having worked closely with business leaders in banking and financial services for decades, I have a deep respect for their rigor in achieving regulatory compliance in a multitude of areas. In pondering the regulatory and compliance horizon for 2023, the American Banking Association noted: .

Analytics 52

Analytics San Diego Regulation Compliance 52

Abrigo

SEPTEMBER 22, 2021

CECL disclosure requirements for 2023 filers and others New disclosures are required under CECL in some cases. PCD Disclosures Some disclosures are the same, but disclosures tied to PCD accounting and AFS debt securities are changing under CECL. Here’s how they’re changing for financial institutions. Stay updated on all things CECL.

Security 195

Security Examples National Report 195

Abrigo

OCTOBER 17, 2019

With financial institutions having multiple users of spreadsheet data files with many tabs and complicated calculations, there are also numerous opportunities for version-control issues and questions about transparency and security.

San Antonio 150

San Antonio Analysis Study Compliance 150

FICO

MAY 18, 2022

Customer Onboarding & Management. Debt Management. ?eská Decision Management Innovation. Fraud & Security. Regulatory Compliance. Volvo - Read the full Volvo story here. Bradesco - Read the full Bradesco story here. OCBC - Read the full OCBC story here. itelna - Read the full ?eská itelna story here.

Innovation 52

Innovation Analytics Management Maine 52

FICO

JANUARY 4, 2023

FICO global survey finds customers want better fraud protection and more security from their digital banking channels. Wed, 01/04/2023 - 14:05. Digital Considered Less Secure. Clearly there is a difference in perception across customer bases regarding the security and efficacy of digital banking channels. FICO Admin.

Fraud 52

Fraud Survey Security Digital Banking 52

FICO

APRIL 20, 2023

Despite these important differences, more than half (56%) of consumers believe RTP are more secure than credit card transactions and three-quarters feel RTP processes include sufficient security checks. Join us at FICO World 2023 for insightful and engaging sessions about the global impact of RTP and scams. Debbie holds a B.A.

Survey 52

Survey Payments Fraud Management 52

PYMNTS

NOVEMBER 22, 2018

Chalk it up to “unviability of operations” in the wake of new regulatory guidelines, mandating upgrades that focus on the actual management of the physical cash at those machines. New rules mean new compliance activities, which, of course, mean additional compliance costs for these stakeholders — as much as $489 million.

ATM 187

ATM Payments Compliance Google 187

Abrigo

DECEMBER 22, 2023

The most popular financial crime blogs in 2023 Check fraud, the SAFER Banking Act, and BSA exam topics were among Abrigo's top blogs on AML/CFT and fraud this year. Abrigo, a leading technology provider of software solutions for financial institutions, published more than 30 risk management articles on its industry-focused blog in 2023.

Fraud 221

Fraud Training Compliance Trends 221