PYMNTS

SEPTEMBER 12, 2019

Financial services providers that slack on regulatory compliance and fail to safeguard their operations against money laundering, terrorist financing and other criminal activities may face damaged reputations and significant fines. A team of analysts can only handle so many potential fraud cases at a time, after all. .

Fraud 189

Fraud Fintech Compliance Regulation 189

PYMNTS

DECEMBER 23, 2019

” As a regulatory initiative aimed at combatting financial crime, KYC requirements are growing ever-more complex, leading corporates and their banks to demand new technologies and services that can address their compliance challenges. .” Canada, Mexico, Sweden, Australia and South Africa.

Fraud 131

Fraud Maryland Payments New York 131

CFPB Monitor

JUNE 30, 2022

Of special note, the OCC also believes compliance risk is “heightened” for Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) compliance because of world events and compliance staffing concerns. BSA/AML Compliance Risks. Cybersecurity Risks.

Compliance 78

Compliance Fraud Technology Operations 78

FICO

MARCH 16, 2018

Social Network Analysis (SNA) tools hold the potential to help tax and revenue agencies identify non-compliance and tax fraud. These tools have been proven to be effective in fraud detection¹, but to date haven’t been utilized to any large degree at tax agencies. Social Networking Analysis Explained.

Analysis 45

Analysis Taxes Fraud Compliance 45

Perficient

APRIL 2, 2021

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. fraud detection and financial crime monitoring). email, text, audio data), with the aim of identifying fraud or anomalous transactions. Textual analysis. Personalization of Customer Services.

Regulation 309

Regulation Industry Risk Management Analysis 309

PYMNTS

JUNE 19, 2020

Merchants looking to expand their operations at home and abroad must be able to support their customers’ preferred payment methods, but doing so is no easy feat. Cybercrime has been growing during the pandemic, with instances of fraud on the rise and the average value of attempted fraudulent transactions having increased by $26.

Payments 188

Payments Compliance Resources Fraud 188

PYMNTS

FEBRUARY 27, 2018

Regardless of the reason, these methods can pose problems, including reduced spend visibility, making it difficult to both track and enforce policy compliance and to perform back-office functions, such as reconciliation and reimbursement as well,” said GBTA Foundation Director of Research Monica Sanchez in a statement when the report was published.

Fraud 104

Fraud Marketing Payments Analysis 104

Abrigo

APRIL 7, 2022

If your institutions are a good match, the financial analysis of an acquisition is usually straightforward. When two financial institutions come together, the AML and fraud compliance functions will need to be consolidated. The next step is to decide how the banks match up culturally. Proactive Planning. Get organized.

Compliance 195

Compliance Policies Fraud Analysis 195

PYMNTS

JUNE 22, 2017

There’s another way, though, in which the fear of fraud bears down on the enterprise. A new report from Vesta Corporation finds fraud positions itself in the way of innovation and growth, even compliance. to understand how payments fraud is limiting corporates’ path to success. cents per every $100 transacted.

Fraud 108

Fraud Innovation Survey eBook 108

Independent Banker

APRIL 30, 2022

But with so much emphasis placed on customer-facing products and technologies, innovating back-office operations can fall to the bottom of the priority list. We believe operations is the “engine” that drives every aspect of banking and, ultimately, the bottom line. Unbundle your end-to-end operations and conduct a SWOT analysis.

Innovation 91

Innovation Community Bank New York City Community 91

PYMNTS

DECEMBER 9, 2018

With retailers struggling to get compliant with the Payment Card Industry Data Security Standard , qualified security assessors are going to be in more demand and can offer tokenization as one way of achieving compliance. That’s according to TokenEx , which recently hosted a webinar to help retailers better understand tokenization.

Retail 194

Retail Report Compliance Security 194

PYMNTS

JUNE 24, 2020

They are also exhibiting increasingly robust cross-border payments capabilities, with a focus on simplicity and ease of operations internationally. Analysis, Compliance, Speed. Businesses are digitizing more rapidly these days, often tapping into new overseas markets and expansion opportunities created by COVID-19.

Payments 130

Payments Regional Analysis Compliance 130

PYMNTS

MARCH 14, 2019

Corporate treasurers are increasingly concerned about a complex regulatory environment, according to the latest analysis from Strategic Treasurer and TD Bank. The 340 survey respondents, based mostly in North America and Europe, revealed their rising concerns over political gridlock in the U.S.

Fraud 115

Fraud Survey Taxes Regulation 115

FICO

NOVEMBER 30, 2017

In my previous post on application fraud, we explored the drivers behind the rapid acceleration of identity-based fraud , which includes identity theft / third-party fraud, synthetic identity fraud, and first-party fraud. Managing fraud is a balancing act that starts with knowing your fraud risk appetite.

Fraud 82

Fraud Analytics Compliance Management 82

FICO

JULY 1, 2022

Global Fraud Trends: What’s Happening and What’s Next? Here are the highlights from the fraud trends breakout session at FICO World 2022 with a panel of fraud professionals from Brazil, Turkey and North America. Ulisses Okamoto , Fraud Risk Management Superintendent at Itaú Unibanco (Brazil). Tue, 07/02/2019 - 02:45.

Fraud 52

Fraud Trends South Carolina Risk Management 52

FICO

JULY 13, 2020

But for criminals, working individually or in fraud rings, these vehicles (or any vehicle, for that matter), present an attractive opportunity: finance the vehicle, sell it illicitly, and pocket the cash. An estimated 10% to 15% of auto finance companies’ bad debt book actually classifiable as first-party fraud.

Fraud 52

Fraud Analysis United States Risk Management 52

PYMNTS

APRIL 29, 2019

In a press release , Citi said it teamed up with EY and SAS to create the scoring engine, which aims to streamline the time it takes to review high volumes of trade transactions while also ensuring regulatory compliance. The goal is to help the bank focus on trade activities that need to be examined as part of its escalation process.

Analytics 123

Analytics Compliance Innovation Operations 123

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. Few things change faster in the financial services space than fraud trends. FICO Admin.

Fraud 52

Fraud Cards Analytics Oakland 52

Celent Banking

MARCH 4, 2017

It is my privilege to be part of the judging panel for Celent Model Bank Awards for 2017 for the following three categories: Fraud Management and Cybersecurity – for the most creative and effective approach to fraud management or cybersecurity.

Risk Management 100

Risk Management Fraud Management Case Study 100

Abrigo

MAY 19, 2023

Some banks have enough critical mass to rotate junior teammates from credit analysis to workout to loan review for 6-month exposures to each of these areas before sending them on to lending assignments.

Training 195

Training Lending Risk Management Guidelines 195

FICO

JUNE 14, 2021

In this post, I’ll provide a quick overview of how BNPL works, and share my thoughts on how BNPL fraud can occur and where the financial liability lays. . Other providers, such as credit card companies, operate differently; those offering BNPL typically charge a fixed monthly fee instead of interest. A BNPL Primer. In the U.S.,

Fraud 52

Fraud Cards Millennials Utah 52

FICO

JANUARY 5, 2021

It’s no surprise that COVID-19 would be one of the subjects that drew readers to the FICO Blog last year, but for the Fraud Protection and Compliance category it wasn’t the only top draw. What else made for the hottest reads in 2020 for fraud and financial crime? 2: Fighting Fraud: How Biometrics Enhance Identity Authentication.

Fraud 52

Fraud Compliance Survey Google 52

FICO

JANUARY 25, 2021

The goal of CIM is to meet regulatory rules and legislation, prevent fraud and financial crime, and manage risk—all while making it simple for customers to transact. Customer identity management operates today in an unpredictable environment. Criminal network analysis. Fraud prevention. Customer screening.

Management 98

Management Fraud Customer Experience Compliance 98

FICO

MARCH 11, 2020

This type of fraud is known as subscription fraud or first party fraud, where a consumer is opening an account for a subscription service (e.g., This type of fraud can constitute 10-20% of the bad debt. In this blog post I will look at: The growing problem of subscription fraud. This is not subscription fraud.

Fraud 52

Fraud Industry Analytics Strategy 52

PYMNTS

MARCH 18, 2019

FIs that fail to catch illicit activities miss opportunities to hamstring such operations and unwittingly help fund them. Faced with these dual motivations, banks around the world are investing in regulatory compliance, and were projected to spend more than $8 billion on AML compliance by 2017.

Compliance 181

Compliance Regulation Chicago Tools 181

FICO

JUNE 12, 2020

Convergence—that is, bringing together fraud and AML functions—will be key, as well as moving on from rule-based AML systems. More than 70% of Asia-Pacific (APAC) banks believe that convergence will help stop fraud and financial crimes , but this same research shows there is a long way to go. as well as the U.S. However, in the U.S.

Fraud 52

Fraud Compliance Regional System 52

PYMNTS

JUNE 26, 2019

Anti-money laundering, data security, mobile/digital payments, fraud-fighting and payment tech rounded out the top five — with each ranking as a lead priority for over 50 percent of credit union executives. And in some of those objectives — particularly in fraud detection and prevention — those uses are happening, iterating and thriving.

Analytics 118

Analytics Data Tools Fraud 118

PYMNTS

JULY 21, 2020

With barriers to globalization coming down and new opportunities for growth discovered, corporate treasurers and CFOs are stepping into unfamiliar territory with their cash management operations. ” Challenge Turned Opportunity. These hurdles are, indeed, massive challenges. Yet there is opportunity hidden within the friction, he said.

Management 160

Management Innovation System Fraud 160

PYMNTS

OCTOBER 21, 2019

Furthermore, according to the latest edition of PYMNTS’ PSD2 Tracker , only 40 percent of merchants operating in the European Union that are aware of SCA reported being ready by that date. The goal is for merchants to think about how they will manage the SCA transition, and to develop a fraud and exemption strategy. 14, 2019 deadline.

Strategy 100

Strategy Compliance Fraud Payments 100

FICO

NOVEMBER 24, 2021

Financial Crime – Enterprise Fraud. This involves operationalizing AI and predictive analytics to break down silos and become central to client operations. Chartis Research is the leading provider of research and analysis on the global market for risk and finance technology. Artificial Intelligence Applications.

Report 52

Report Analytics Company Innovation 52

FICO

FEBRUARY 14, 2017

I’m going to explore the impact advanced analytics can have on the current state of regulatory compliance. RBA follows a multi-step approach: After initially assessing any risks (money laundering, tax fraud, etc.), That’s what a compliance officer is looking for. customers are automatically categorized into a risk bucket.

Analytics 40

Analytics Compliance Meeting System 40

FICO

JUNE 5, 2017

They’re not sure how to reap the value of these insights by using them to boost the performance of predictive analytics, and make better operational customer decisions. Fraud, waste and abuse detection. Machine learning methods, however, can determine what textual data is about and classify it for further analysis.

Analytics 108

Analytics Analysis Data Compliance 108

PYMNTS

OCTOBER 6, 2020

Money laundering is a never-ending threat to payments providers of all types, but especially to those that operate online. Know thine enemy” is the first rule of any fraud or money laundering prevention system, with payments providers of all types requiring an intimate knowledge of the threat they face if they have any hope of countering it.

Analytics 163

Analytics Data Analysis Payments 163

Abrigo

JUNE 5, 2023

In addition, even before the recent banking troubles, regulators have emphasized the financial institution’s responsibility to provide leaders with information on key areas of planning, operations, and risk management. Core deposits in growth reports for financial institutions should be defined in a variety of ways.

Report 195

Report Risk Management Capital Data 195

PYMNTS

AUGUST 24, 2016

The data also highlights how both employees and their managers are to blame for inaccuracies and fraud. Analysis by JPMorgan released last year found that $1 billion of the $186 billion spent on T&E expenses in the U.S. Small businesses can be most susceptible to T&E fraud, analysts revealed. goes to fraudulent activity.

Management 100

Management Report Fraud Analysis 100

FICO

NOVEMBER 23, 2021

Armando Junior, general manager, risk and compliance at Dock (previous winner) . At Conductor, he helped the payments and banking-as-a-service platform increased fraud detection by 25 percent. Sibulelo Ncamani, head of operational risk and governance at Absa Bank (previous winner).

Meeting 52

Meeting Analytics Risk Management Management 52

Insights on Business

JULY 30, 2019

Regulators in the US and across the globe are supporting and even encouraging experimentation with new ways to handle financial crime detection, operations and management. Responders were financial services professionals involved in financial crime analysis and investigations, including AML and customer due diligence (CDD).

Study 107

Study Survey Regulation System 107