Abrigo

AUGUST 31, 2023

Teaching staff these KYC tips to make clients feel more comfortable In 2023, KYC procedures must both support CDD compliance and make sure your institution is a welcoming place for all customers. Takeaway 2 In 2023, KYC should both strengthen your AML program and personalize services to support clients' individuality and value.

Compliance 195

Compliance Community Training System 195

Gonzobanker

DECEMBER 14, 2023

While Huntington is down like most bank stocks, the pain hasn’t been as severe, and Huntington doubled down on local markets in 2023 by consolidating business units. He passed away in January 2023. The Worst Day of the Year Award – goes to May 1, 2023, when First Republic Bank failed. What a year.

Fintech 195

Fintech Community Regional Technology 195

Abrigo

SEPTEMBER 7, 2023

Court case: Credit union held liable for ACH fraud losses A construction company argued the financial institution "failed to establish a reasonable routine" for monitoring suspicious activity alerts tied to ACH. Takeaway 3 Remember that ACH fraud risk also occurs in the placement stage of a fraudulent or money laundering scheme.

Fraud 221

Fraud Training System Trends 221

Abrigo

JANUARY 6, 2023

Check deposit fraud using “walkers” Financial institutions are seeing increased money mule scams using recruited "customers" to deposit stolen checks. Takeaway 1 Check fraud is not a new trend, but increased activity should put banks on high alert. Fraud scheme uses marginalized individuals as mules. BSA Rules and Regulation.

Fraud 195

Fraud Regulation Training Operations 195

South State Correspondent

OCTOBER 26, 2023

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. Fraud & Identity: By far, the largest number of vendors and conversations were over fraud and identity.

Conference 221

Conference Las Vegas Fraud Case Study 221

Abrigo

DECEMBER 28, 2022

Most-read blogs on financial crime in 2022 Synthetic ID fraud, AML quality control, and SAR writing topics were among Abrigo's top blogs on AML/CFT and fraud this year. . Takeaway 1 AML/CFT and fraud professionals often keep up to date on industry trends by reading Abrigo's blog. The blogs your FinCrime peers are reading.

Fraud 195

Fraud Training Compliance Regulation 195

Perficient

NOVEMBER 30, 2022

Our Payments Practice recently had the opportunity to represent Perficient at the 2022 Real-time Payments & Fraud Management Summit held in New York City. . The conference was attended by several Financial Institutions, Service Providers, Fintechs, and Industry Regulators. They will also enable employees to get paid faster.

Fraud 275

Fraud Management Payments New York City 275

Abrigo

MARCH 3, 2023

Ten red flags to help you identify check fraud A financial institution's guide to identifying mail-related check fraud. You might also like this webinar, "Proactive measures to protect against check fraud and fraud loss." Losses from check fraud total $18 billion annually, representing more than a million checks daily.

Fraud 195

Fraud United States Trends Software 195

FICO

JULY 6, 2023

Beyond the pleasure of leading a FICO Falcon Fraud Manager User Forum and moderating a couple of panel breakout sessions, I I was also able to catch up with many of the fraud-focused attendees from around the world. Scams: A Top Fraud Concern Scams are becoming a leading fraud concern, all around the world.

Fraud 52

Fraud Management Customer Experience San Diego 52

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. While the pace of bank regulatory changes has diminished from a few years ago, several issues will either become effective or likely develop in 2023. Finalization is expected as early as 2023. Quick Stat.

Compliance 100

Compliance FDIC Community Bank Community 100

Abrigo

NOVEMBER 9, 2022

Financial institutions work to meet Q1 2023 CECL deadline A CECL implementation survey by Abrigo found progress by financial instittuions is mixed ahead of the upcoming deadline. . In many cases, financial institutions adopting CECL for the 2023 deadline are tracking ahead of where SEC registrants were as they faced a 2020 deadline.

Survey 195

Survey Software Resources Meeting 195

American Banker

JANUARY 16, 2024

Payments fraud is the most expensive kind, at $450B; anti-financial-crime execs are the most worried about real-time payments, a survey from Nasdaq and Oliver Wyman found.

Fraud 88

Fraud Report Survey Payments 88

Abrigo

MARCH 4, 2022

Synthetic ID fraud is growing quickly and hurts FIs and customers Knowing the schemes associated with synthetic identity fraud and how criminals avoid detection can help minimize losses. Takeaway 1 Synthetic identity fraud is a growing form of identity theft in which an individual is impersonated by using stolen information.

Fraud 195

Fraud Cards Software Trends 195

The Paypers

DECEMBER 16, 2022

The Paypers has published the Fraud Prevention in Ecommerce Report 2022-2023 , setting the scene for the latest insights and developments regarding fraud prevention technologies and related regulations.

Fraud 41

Fraud Report Regulation Technology 41

FICO

DECEMBER 20, 2022

5 Ways Digital Payments Will Change FIs and Fraud in 2023. As I look back on 2022, I’m reluctant to lean too far into predictions for 2023. 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. FICO Admin. Tue, 07/02/2019 - 02:45.

Fraud 52

Fraud Payments South Carolina Compliance 52

Abrigo

OCTOBER 16, 2023

Takeaway 2 Participation in BaaS models, staffing changes, poor training, and failure to reassess policies post-pandemic are risk factors for credit unions Takeaway 3 Compliance officers should always be thinking about how BSA, AML, and fraud concerns impact their credit union and , ultimately , their members. FinCEN assessed a $1.5

Training 221

Training Compliance Fraud Policies 221

Abrigo

JANUARY 3, 2024

Takeaway 2 A December 2023 final rule establishes guidelines for who may access BOI and for what purposes. Treasury’s Financial Crimes Enforcement Network (FinCEN) recently issued a new regulation on the requirements, including how AML staff will access the information through a new federal beneficial ownership information (BOI) registry.

Fraud 221

Fraud Regulation Report Compliance 221

Abrigo

OCTOBER 16, 2023

Takeaway 2 Participation in BaaS models, staffing changes, poor training, and failure to reassess policies post-pandemic are risk factors for credit unions Takeaway 3 Compliance officers should always be thinking about how BSA, AML, and fraud concerns impact their credit union and , ultimately , their members. FinCEN assessed a $1.5

Training 195

Training Compliance Fraud Policies 195

Abrigo

JANUARY 30, 2024

Consistently rated a top industry event by attendees, ThinkBIG brought together 650 people from banks, credit unions, and partners in 2023. The Fighting Financial Crime track will focus on BSA compliance, anti-money-laundering (AML), and fraud detection topics. Don’t take our word for it, though.

Conference 195

Conference Arizona Phoenix Fraud 195

Abrigo

FEBRUARY 9, 2024

Treasury Secretary Janet Yellen said in  March 2023 that illicit actors  laundered at least $2.3 The January 2023 alert to financial institutions, Potential U.S. It is no secret that criminals use real estate to clean money derived from illegal proceeds; it’s one of the oldest forms of money laundering. billion through U.S.

Training 195

Training Fraud Trends Report 195

Abrigo

DECEMBER 19, 2022

Checklists, guides, and more to help you and your AML-CFT staff Thousands of FinCrime professionals have accessed these guides, checklists, and other resources produced in 2022 by Abrigo's team, which includes former bankers, BSA officers, and regulators. . Training materials for anti-money laundering & fraud professionals.

Resources 195

Resources Training Fraud Compliance 195

Alex Jimenez

NOVEMBER 4, 2023

Regulation and Compliance: Not one of the more exciting topics, but there seems to be a growing emphasis on FinTech regulation and compliance, particularly around industry stability and consumer protection. A version of this post was published on LinkedIn, November 1, 2023. The application of AI was highlighted many times.

Conference 84

Conference Meeting Trends Fintech 84

PYMNTS

AUGUST 10, 2018

A new report has found that over 33 billion records will be stolen by cybercriminals in 2023 alone. That is because the country has a great deal of national and international consumer and corporate data in a disparate range of institutions and regulations, making it easier to find and exploit weaknesses. by 2023.

Analysis 108

Analysis Data Analytics National 108

FICO

DECEMBER 1, 2022

4 AI Predictions for 2023: From the Great Correction to Practical AI. A pragmatic approach I call Practical AI will rise in 2023 like a phoenix from the ashes of years of irrational exuberance around artificial intelligence. Here are my predictions for Practical AI in 2023: 1. JessicaButalla@fico.com. Tue, 07/19/2022 - 16:11.

Analytics 98

Analytics Phoenix San Diego Tools 98

CFPB Monitor

OCTOBER 5, 2022

On October 3, 2022, the Federal Reserve finalized a rule expanding Regulation II (Debit Card Interchange Fees and Routing), the implementing regulation for the Durbin Amendment. The final rule will be effective July 1. Given this continued uncertainty, I do not support the final rule.”.

Regulation 78

Regulation Cards Community Bank Community 78

Gonzobanker

JANUARY 4, 2023

Risk plan – Operational risk management is a company-wide discipline that has become the focus of regulators, boards, and the “C” level. That topic is one on which the CIO will lead the planning, but virtually every back-office team – operations, fraud, risk, HR, and marketing – has pieces of the overall risk plan. Christian Lange.

Technology 78

Technology System Software Groups 78

The Paypers

JANUARY 10, 2023

British TSB Bank officials have warned that the fraud refund rules proposed by the Payment Systems Regulator to come into effect in 2023 will exclude a significant part of APP fraud victims.

Fraud 36

Fraud Regulation System Payments 36

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

Perficient

MAY 15, 2023

Risk & Fraud Prevention. Additionally, maintaining clear, comprehensive data systems promotes business ethics and adherence to laws and regulations enforced by regulatory bodies. Institutions can also compare their customer data with external data (ie. market trend data, economic data, etc.)

Data 275

Data Conference New York City New York 275

PYMNTS

MARCH 8, 2019

Consumers in the European Union (EU) are adjusting to Payments Service Directive 2 (PSD2) and General Data Protection Regulation (GDPR), even though these regulations focus on bringing greater trust through transparency. At the same time, new technologies such as biometrics are emerging in the fight against fraud.

ATM 189

ATM Regulation Fraud Data 189

Abrigo

FEBRUARY 24, 2023

While regulators can penalize institutions for poor SARs, and their opinions significantly impact your financial institution, it is best to write SARs as if speaking to law enforcement. Be sure to keep up to date with FinCEN regulations and guidance. It is essential to remember your audience when writing your SAR narrative.

Regulation 243

Regulation Fraud Training Trends 243

FICO

MARCH 7, 2023

Home Blog FICO Responsible AI: Are European Firms Ready for the Regulators? There are significant changes coming in Europe, which highlight getting a handle on responsible AI use, with the banking and financial services sector among those that will be most impacted by increasing regulation.

Regulation 52

Regulation America Compliance Fraud 52

South State Correspondent

APRIL 15, 2024

Last week, JPM released its 84-page 2023 shareholder letter and 364-page annual report. Road trips, client meetings, briefings, and visits to call centers, branches, and regulators allow leaders to observe and assess the bank and the market. As usual, it was full of insight that every community banker should consider.

Community 195

Community Community Bank Leadership America 195

PYMNTS

FEBRUARY 4, 2020

Open Banking’s European success has kicked off interest in similar regulations worldwide, most notably in China, India and Singapore, where digital banking’s popularity among general consumers is rapidly rising. Numerous regions then announced internal deadlines for compliance that often diverged from their neighbors’ deadlines.

Fraud 144

Fraud Regulation Compliance Innovation 144

PYMNTS

DECEMBER 18, 2019

UK Regulator Looks To Expand Open Banking Beyond Banking. Apple Expected To See Booming Wearables Demand Through 2023. The International Data Corporation forecasted the worldwide “earwear” market to nearly double by 2023. Marijuana companies are hurting from a looming cash crunch and restrictive regulations in the U.S.

Apple 130

Apple Fraud Payments Regulation 130

FICO

JANUARY 10, 2023

Top 5 Fraud Posts for 2022: Scams, Contactless and Money Mules. In a year that saw the word "scamdemic" coined, scams such as authorised push payment fraud were top of mind, along with various other fraud schemes. Tue, 01/10/2023 - 11:30. Few things change faster in the financial services space than fraud trends.

Fraud 52

Fraud Cards Analytics Oakland 52

PYMNTS

MARCH 25, 2019

federal government tries to stem fraud and other losses in benefit programs, a new mobile app might just provide a way to do that. Finally, one Western European country has decided to take a slower approach when it comes new digital payment regulation. billion: Global RegTech market’s projected value by 2023. As the U.S.

Innovation 148

Innovation Fraud Regulation Data 148