Abrigo

DECEMBER 27, 2022

Fraud trends for financial institutions to watch for in 2023 Financial institutions should not expect a slowdown of any of 2022’s fraud trends. Be on the lookout in 2023 for the following trends identified by the FBI. No fraud decrease likely for 2023. Current economic indicators do not bode well for fraud stabilization in 2023.

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Independent Banker

DECEMBER 31, 2022

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. 1, and applicable to the first quarterly assessment period of 2023 with an invoice payment date of June 30, 2023. Finalization is expected as early as 2023. Quick Stat.

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Compliance FDIC Community Bank Community 100

The Paypers

MAY 2, 2024

Outpayce , the venture launched in 2023 to revolutionise Amadeus ’ travel payments sector, has obtained an e-money institution (EMI) licence from the Bank of Spain.

Regulation 41

Regulation Security Payments 41

PYMNTS

DECEMBER 23, 2019

The same framework should be in place to improve technology used by regulators in efforts to strengthen supervision throughout the industry, the think tank also says. billion by 2023, up from an estimated $4.5 The risk and safety lines with AI in China in the finance sector appear to be blurring. trade war.

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Regulation Groups Policies Big Data 202

Gonzobanker

AUGUST 24, 2023

Rising interest rates depress the value of low-rate securities and loans. Banks had more than $500 billion in unrealized losses on their securities at the end of March. The Credit Card Competition Act of 2023 could negatively impact banks’ ability to generate interchange fees and reduce the amount of capital they issue, however.

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Innovation United States Industry Technology 148

Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence Perficient’s Risk and Regulatory Center of Excellence (CoE) remains at the forefront of evolving financial rules and regulations, ensuring readiness to tackle emerging challenges and safeguard financial institutions and its customers.

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Compliance New York Regulation Analysis 221

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.

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New York Compliance Regulation Analysis 221

American Banker

DECEMBER 26, 2023

The additional disclosures came in advance of new regulations that are expected in 2024 from the Securities and Exchange Commission. JPMorgan Chase and Citigroup were among the banks that voluntarily reported new information this year about the impact of their operations on climate change.

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Regulation Security Operations Report 90

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. Find out what auditors and regulators will be looking for as it relates to CECL.

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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.

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Abrigo

JANUARY 3, 2024

financial system, and regulators will expect it. The Department of Homeland Security defines human trafficking as using force, fraud, or coercion in exchange for labor, services, or a commercial sex act. In September 2023, the U.S. These groups' immigration numbers have more than doubled in 2023 to 228,000 from 110,000 in 2022.

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United States San Antonio Training Fraud 221

Perficient

AUGUST 26, 2022

With the move to electronic trading and increased trade volume, FINRA has been considering ways to provide more timely and detailed data to the marketplace and regulators. Agency debt securities. Asset-backed securities (ABS). Agency pass-through mortgage-backed securities (MBS). Current Time Requirements.

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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.

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Analysis Data Analytics National 108

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."

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Tools Regulation Data Resources 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. 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. But compliance deadlines are tiered.

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Compliance Lending Data Regulation 195

Abrigo

SEPTEMBER 25, 2023

Download now Bipartisan support The 2023 SAFE Banking Act: An unclear outlook Takeaway 1 The Senate recently introduced the newest version of marijuana legislation, the Secure and Fair Enforcement Regulation (SAFER) Banking Act.

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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.

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Analytics Phoenix San Diego Tools 98

Abrigo

FEBRUARY 8, 2024

consumers lost billions of dollars due to fraud during 2023. Takeaway 2 Client fraud education at financial institutions should include takeaways that explain how to protect themselves from phishing and tips for staying secure online. billion was lost to fraud through social media between January 2021 and June 2023.

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Fraud Resources social media Software 195

BankInovation

MARCH 27, 2023

As business reconsiders their budgets this year, many are already taking extra cuts in 2023. We’ve already seen some layoffs at major banking and financial institutions, and if a recession happens, as firms such as BlackRock and JP Morgan have predicted, this will likely continue.

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Risk Management Management Marketing Security 52

Perficient

JANUARY 23, 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.

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Compliance Regulation Industry Maine 221

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.

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Compliance Risk Management Regulation Industry 221

CFPB Monitor

DECEMBER 9, 2021

The CFPB has issued a final rule amending Regulation Z to address the discontinuation of the London Inter-Bank Offered Rate (LIBOR) that is currently used by many creditors as the index for calculating the interest rate on credit cards and other variable-rate consumer credit products. Change in index. Dollar LIBOR indices. (The

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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. They will have some piece of it, though, such as reviewing outsourced disaster recovery and information security plans. The CIO is in the middle of these plans, but very likely is not leading them.

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Technology System Software Groups 78

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. But I’ll still weigh in with prognostications for 2023. Buy-Now-Pay-Later Will Win on Customer Experience but Needs Enhanced Security. FICO Admin. Tue, 07/02/2019 - 02:45.

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Fraud Payments South Carolina Compliance 52

Abrigo

SEPTEMBER 25, 2023

LISTEN NOW Bipartisan support The 2023 SAFE Banking Act: An unclear outlook Takeaway 1 The Senate recently introduced the newest version of marijuana legislation, the Secure and Fair Enforcement Regulation (SAFER) Banking Act. You might also like this podcast, "To be blunt: The ins and outs of cannabis-related banking."

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Puerto Rico Virgin Islands Guam United States 195

Abrigo

FEBRUARY 9, 2024

Treasury Secretary Janet Yellen said in  March 2023 that illicit actors  laundered at least $2.3 residential real estate sector but safeguarding our economic and national security.” Know the red flags for money laundering. The January 2023 alert to financial institutions, Potential U.S. billion through U.S.

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Training Fraud Trends Report 195

CFPB Monitor

OCTOBER 19, 2022

Effective January 1, 2023 through December 31, 2023, these exemption thresholds are increased as follows: Smaller loans exempt from the appraisal requirement for “higher-priced mortgage loans” are increased from $28,500 to $31,000.

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South State Correspondent

APRIL 23, 2023

Analysts, regulators, legislators, and bankers have been attributing the root cause of SVB’s failure in the past month. Some blame the dilution of the Dodd-Frank provisions, others the lack of oversight by regulators, and others still blame social media for exacerbating the deposit run.

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Management Security Risk Management social media 195

Perficient

SEPTEMBER 11, 2023

Already reviewed by Perficient, BES provides a secure and efficient portal to exchange documents, information, and communications for consumer compliance and Community Reinvestment Act (CRA) examinations. By the time people started speaking of Y2K , regulators were accepting documents from the bank prior to starting the onsite examination.

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Compliance FDIC Tools Leadership 221

Bussman Advisory

OCTOBER 7, 2023

This week’s must-know stories: Metro Bank’s Financial Struggles: Will Metro Bank in the UK be 2023’s next banking collapse? This decline was exacerbated when UK regulators denied its request to modify capital requirements calculations for its residential mortgages. The post Metro Bank UK: 2023’s Next Bank Collapse?

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Metro blockchain Cards Samsung 52

Bank Innovation

APRIL 3, 2019

Regulations such as PSD2 and GDPR (General Data Protection Regulation) have put regtech companies at the front and center of the global fintech ecosystem. billion by 2023. In fact, a recent report shows that the global regtech market is expected to grow from $4.3 billion last year to $12.3

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Regulation Fintech Data Marketing 170

Abrigo

OCTOBER 16, 2023

While c red it unions may seem worlds apart from large global banks, the principles of financial integrity, trust, and security a re paramount to the success of banks and credit unions alike. A gap institution is a financial institution that does not have a federal functioning regulator, such as a state-chartered credit union.

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Training Compliance Fraud Policies 221

Abrigo

MARCH 8, 2024

In 2023, reported fraud losses surged to over $10 billion, a 14% increase from 2022, despite a similar number of cases being reported at 2.6 Create and follow your internal processes for communications and security. This discussion highlights recent trends in wire fraud and offers strategies to protect both clients and institutions.

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Fraud Technology Trends Training 195

CFPB Monitor

JULY 20, 2022

In 2017, the United Kingdom’s Financial Conduct Authority (FCA), the regulator that oversees the panel of banks on whose submissions LIBOR is based, announced plans to discontinue LIBOR after 2021. The FCA subsequently announced that no LIBOR indices will be available after June 30, 2023.

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New York Security Operations Regulation 78

Abrigo

FEBRUARY 22, 2024

You might also like this upcoming webinar on Homeland Security fraud investigations. Most financial institutions also reported that check forgeries and counterfeits were the fraud schemes that impacted their organizations the most in 2023. Read on for cutting-edge prevention methods.

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Fraud Trends Training Maine 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. FinCEN, however, does not actually conduct BSA/AML examinations of regulated businesses. It is unclear if Congress expects FinCEN to conduct these audits.

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United States Taxes Regulation Compliance 78

Abrigo

OCTOBER 16, 2023

While c red it unions may seem worlds apart from large global banks, the principles of financial integrity, trust, and security a re paramount to the success of banks and credit unions alike. A gap institution is a financial institution that does not have a federal functioning regulator, such as a state-chartered credit union.

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Training Compliance Fraud Policies 195