Abrigo

NOVEMBER 2, 2021

Culture of compliance is crucial to BSA/AML programs Culture of compliance within the BSA/AML framework is not new and was first introduced by FinCEN in 2014. Would you like other articles like this in your inbox? Takeaway 2 Poor culture of compliance will result in shortcomings in a financial institution's BSA/AML program.

Compliance 195

Compliance Regulation Resources Policies 195

Perficient

JANUARY 16, 2024

Background On October 19 th , 2023, the Office of the Comptroller of the Currency (OCC) published an article highlighting new enforcement actions and clarifying explicit rules regarding misconduct, particularly as it relates to financial abuse by senior-level management.

Compliance 221

Compliance Guidelines Policies Risk Management 221

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. You might also like this resource, "Customer due diligence checklist."

Compliance 195

Compliance Community Training System 195

Perficient

DECEMBER 6, 2023

The objective is clear: encouraging compliance with consumer protection regulations they deem important before punitive measures are implemented broadly. Why Companies Need to Review Their Practices Legal Compliance: The rapidly evolving landscape of consumer protection laws demands constant vigilance.

Industry 221

Industry Compliance Exercises Regulation 221

Abrigo

DECEMBER 22, 2023

Abrigo's top AML/CFT articles The FinCrime blogs banks and credit unions are reading Cannabis legislation, check fraud, and exam-proof best practices are hot topics that anti-money laundering/countering the financing of terrorism (AML/CFT) and fraud professionals will be tracking in the coming months.

Fraud 221

Fraud Training Compliance Trends 221

Abrigo

DECEMBER 28, 2022

Abrigo's top AML/CFT articles. Cybercrime, sanctions compliance, and cryptocurrency troubles are bound to be trends for anti-money laundering/countering the financing of terrorism (AML/CFT) and fraud professionals to track in the coming months. Click on the link next to the number to access each article.

Fraud 195

Fraud Training Compliance Regulation 195

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech in banking and finance. What is regtech?

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech for banks to enhance their processes. What is regtech?

Technology 195

Technology Fraud Compliance Regulation 195

CFPB Monitor

JUNE 14, 2021

Two leaders of the CFPB’s Fair Lending Office – Patrick Ficklin, Fair Lending Director, and Charles Nier, Senior Fair Lending Counsel – recently published an article advocating for broader use of special purpose credit programs (“SPCPs”) by creditors.

Lending 78

Lending Regulation Study Washington 78

PYMNTS

NOVEMBER 2, 2020

Regulation. The Digital Services Act will be one of the regulations, which Vestager said will revise the eCommerce Directive and will make digital services take additional responsibility for contending with “illegal content and dangerous products.”. The Digital Markets Act is a second set of regulations. each month.

Taxes 212

Taxes National Regulation Google 212

PYMNTS

JANUARY 25, 2018

More than half of companies surveyed by SWIFT and Dow Jones Risk & Compliance last year said they plan to invest in RegTech in the coming years, and most agree that technology has enabled a greater ability to remain compliant with key regulations surrounding anti-money laundering , Know Your Customer and more. In the U.S.,

Compliance 148

Compliance Regulation Resources Survey 148

PYMNTS

NOVEMBER 11, 2020

The European Data Protection Board (EDPB) adopted recommendations to assist data exporters with evaluating countries to ensure that they are adhering to the bloc’s level of protection under the EU General Data Protection Regulation ( GDPR ) and finding further measures as needed. The board identified five main Article 46 GDPR transfer tools.

Data 202

Data Compliance Exercises Tools 202

PYMNTS

APRIL 16, 2019

A German markets regulator has filed a complaint with prosecutors alleging that shares of Wirecard were manipulated by someone who potentially had prior knowledge of a forthcoming damaging article written by the Financial Times , according to Reuters. . Wirecard’s stocks fell after the Jan.

Regulation 116

Regulation Marketing Compliance Fraud 116

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. . Would you like other articles like this in your inbox?

Resources 195

Resources Training Fraud Compliance 195

Abrigo

SEPTEMBER 20, 2023

Would you like other articles like this in your inbox? Compliance is not a one-size-fits-all approach; your monitoring system shouldn’t be different. Insights into budgeting for BSA/AML and fraud software. Take a moment to consider your best-case scenario budget, and what steps bring you closer to what you need.

Software 195

Software Fraud Regulation Training 195

Perficient

DECEMBER 21, 2023

In this article, we delve into the latest developments around the extended comment period, providing stakeholders an increased opportunity to share their insights. Learn More: U.S. On November 22, 2023, the FDIC released an update titled “Agencies Extend Comment Period on Proposed Rule to Require Large Banks to Maintain Long-Term Debt.”

DC 221

DC FDIC Washington Compliance 221

PYMNTS

FEBRUARY 12, 2019

Regulators found the company completed 156 shipments worth a combined $4.4 ’s importation of those goods via China was found to be in violation of the Treasury’s Office of Foreign Assets Control (OFAC) North Korea Sanctions Regulations. notified regulators when it discovered the violations. million into the U.S.

Compliance 108

Compliance Risk Management Regulation Management 108

PYMNTS

AUGUST 23, 2018

The European Union (EU) General Data Protection Regulation (GDPR) came into effect in May, but most businesses in the region still aren’t compliant with the rules. GDPR compliance must be a component of the supplier relationship management strategy, analysts said.

Compliance 119

Compliance Data social media Security 119

Abrigo

DECEMBER 22, 2023

Abrigo's top risk management articles The risk management blogs banks and credit unions are reading Probability of default, CECL model validation, and CRE risk are hot topics that risk management and accounting professionals will be tracking in the coming months. Key tentative decisions and timelines are shown in this blog.

Risk Management 221

Risk Management Regulation Management Lending 221

PYMNTS

MARCH 31, 2020

The necessity of such regulations is undeniable, however, as lagging data standards leave businesses and consumers open to fraud and boost frustration regarding the speed of digital transactions. Discussions can be further complicated by world events that change the way FIs, businesses and consumers interact. Sixty-three percent of U.S.

Regulation 154

Regulation Data US Washington 154

Abrigo

SEPTEMBER 8, 2023

However, banks and credit unions must balance their fraud-fighting obligations with consumer compliance requirements on deposit-availability timeframes and notices under Reg CC. Efficient compliance with both Reg CC and the requirements tied to anti-fraud or anti-money laundering can also greatly impact customer or member experiences.

Fraud 195

Fraud Training Regulation Compliance 195

Abrigo

DECEMBER 22, 2023

Takeaway 3 Articles specific to small community banks were among the most-read blogs, with best practices for construction lending at the top of the list. Articles on creating a sound credit risk rating system and preparing for the possibility of new requirements such as the CFPB ruling were among the most-viewed throughout the year.

Lending 221

Lending Risk Management Community Management 221

FICO

MARCH 6, 2020

Visma Connect recently interviewed Jürgen Krieg, FICO's head of global compliance sales. In this excerpt from that article, Jürgen elaborates on the importance of compliance. . At FICO, I am responsible for planning and implementing growth strategies to develop new markets, and the expansion of our compliance business globally.

Compliance 81

Compliance Technology Fraud Analytics 81

Perficient

DECEMBER 1, 2023

Despite this proactive approach, federal banking regulators either neglected to review the same documents or did so without taking necessary action before the bank failed. Contact us today to navigate the evolving landscape of risk and regulation successfully.

FDIC 221

FDIC Risk Management Regulation Leadership 221

South State Correspondent

JANUARY 16, 2024

BSBY was not well received by US regulators from its inception, but the market eventually embraced SOFR over BSBY. We published various articles comparing community bank alternatives to LIBOR (such as SOFR, Ameribor, Fed Funds, and Prime). No additional reporting or regulatory compliance for the lender or the borrower.

Community Bank 195

Community Bank Community Compliance CA 195

CFPB Monitor

APRIL 25, 2022

As we will discuss, the timing of the Consent Order indicates that even when regulators permit crypto activities by financial institutions, they remain cautious, particularly as to BSA/AML compliance. The preliminary approval had requirements, including that Anchorage enter into an Operating Agreement with the OCC. The Consent Order.

Compliance 78

Compliance Digital Banking Training South Dakota 78

American Banker

JUNE 1, 2023

He says a recent American Banker investigative article "ignores the fact that Comerica took steps to protect Direct Express users when it became aware that a third-party vendor had not followed program protocols for reviewing customer inquiries.

Dallas 36

Dallas Cards Management Company 36

Abrigo

DECEMBER 17, 2021

Would you like other articles like this in your inbox? Takeaway 1 Strengthen your financial institution's culture of compliance through a staffing assessment. Small, low-risk institutions may have one compliance officer to run all compliance functions, including BSA. Now is the time to be prepared. . Learn More.

Compliance 195

Compliance Training Fraud Resources 195

Abrigo

MAY 9, 2022

Best Practices for Third-Party BSA/AML Assistance Collaborating with a third-party BSA/AML vendor can save time and money when it comes to sanctions compliance. Would you like other articles like this in your inbox? Conducting a staffing assessment can strengthen an institution's overall culture of compliance. Keep me informed.

Compliance 195

Compliance Fraud Regulation Resources 195

Abrigo

JUNE 15, 2023

Protect the financial institution from money laundering through real estate FinCrime professionals should be able to detect when real estate is being used for money laundering, especially given heightened Russian sanctions Would you like other articles like this in your inbox? You might also like this Russian sanctions compliance checklist.

Training 195

Training Regulation Compliance System 195

Abrigo

JANUARY 11, 2022

Would you like other articles like this in your inbox? You must also instill a strong culture of compliance at your institution to ensure long-term success. Not only is this a required part of BSA compliance but controls also ensure things are running smoothly and you won't be caught off guard during a regulatory examination.

Training 195

Training Compliance Resources Policies 195

CFPB Monitor

FEBRUARY 23, 2022

Yesterday, eight federal agencies joined together to issue an “ Interagency Statement on Special Purpose Credit Programs Under the Equal Credit Opportunity Act and Regulation B ” (Interagency Statement). The agencies consist of the CFPB, FDIC, OCC, Federal Reserve Board, NCUA, HUD, DOJ, and FHFA.

Regulation 78

Regulation Lending FDIC Compliance 78

Abrigo

MAY 19, 2023

Introduction A few good men and women In previous articles, we have explored the objectives of a loan review and credit risk review system in general. In addition, they should be familiar with pertinent laws and regulations affecting credit and lending activities.

Training 195

Training Lending Risk Management Guidelines 195

PYMNTS

DECEMBER 14, 2020

The Commission Nationale de l’Informatique et des Libertés (CNIL), the French data protection watchdog, has hit Amazon and Google with significant financial penalties for allegedly contravening regulations on the digital advertising trackers known as “cookies,” CNBC reported. Amazon was told to pay 35 million euros (approximately $42.5

Google 132

Google social media Compliance Regulation 132

Abrigo

DECEMBER 8, 2021

Would you like other articles like this in your inbox? Specific topics for your BSA board training may include the following: Give a brief history of BSA/AML The key point to make regarding the history of BSA/AML is to understand is understanding laws and regulations. An excellent place for information is FinCEN History of AML Laws.

Training 195

Training Resources Video Compliance 195

CFPB Monitor

DECEMBER 4, 2015

Two weeks ago, we reported on an article published by the American Banker, which alleged certain inaccuracies and flawed practices in the CFPB’s consumer complaint database, citing several current and former employees of the Bureau.

Policies 60

Policies System Compliance Report 60

Abrigo

JULY 10, 2015

Compliance is often a loaded word for bankers. While regulations within the banking industry are, of course, a necessity, the ongoing conversation about striking a balance between mitigating risk and overregulation continues in government, media and financial institutions themselves. Regulators want to know how a bank is complying.

Compliance 150

Compliance Risk Management Regulation Management 150