PYMNTS

OCTOBER 30, 2020

Slow compliance checks and sluggish processing times are commonplace, especially on the legacy systems still used by many banks around the world. Automating Compliance. Most customers bypass dealing with merchants entirely when trying to stage chargeback fraud, with 76 percent of cardholders going directly to the payment card issuer.

Operations 228

Operations Payments Compliance System 228

Abrigo

FEBRUARY 14, 2024

WATCH NOW Takeaway 1 Reduce stress and mitigate financial and compliance impacts Takeaway 2 AML employee succession plans should be “living” documents. What tasks are required per regulations? What tasks are required per regulations? We can help you navigate changing AML/CFT and fraud regulations.

Training 195

Training Fraud Compliance Regulation 195

PYMNTS

JUNE 29, 2020

The pandemic has spurred businesses — by necessity — to use digital means to interact with their employees and to keep operations humming. Before the pandemic struck, she said, pay cards were potentially “just another choice” for the employee. Regulations are still where they were pre-pandemic,” Valdespino said.

Cards 236

Cards Compliance Regulation Payments 236

CFPB Monitor

JANUARY 7, 2021

The CFPB has issued an approval order through its Compliance Assistance Sandbox Policy (CAS Policy) to Synchrony Bank in connection with a proposed “dual-feature” credit card (DFCC) program. The order has a 36-month duration. Once unsecured, the DFCC’s APR would be higher than the APR it had when secured.

Compliance 78

Compliance Cards Policies Security 78

PYMNTS

FEBRUARY 7, 2019

Corporate expense management solution provider Coupa has updated its platform with new features targeting compliance and fraud prevention. ” Coupa introduced Coupa Pay in November of last year alongside a partnership with Barclaycard to integrate virtual card functionality into the supplier payments platform.

Compliance 143

Compliance Fraud Management America 143

PYMNTS

JULY 24, 2020

The collaboration is expected to give Visa’s global merchant and card network access to M-Pesa’s financial services network. How Global Freelancing Marketplaces Can Maintai n Security And Regulatory Compliance. Platforms also need to be sure that they can comply with the regulations of each country they serve.

Compliance 152

Compliance Report Payments Security 152

PYMNTS

JULY 2, 2020

With the pandemic nudging businesses further into the digital payments realm, commercial card innovation is heating up to capitalize on the opportunity for adoption. Boost Bolsters BMO Harris Bank’s Biz Cards. Global Cash Card’s Legal Saga Ends. ADP Eyes Payroll Card Adoption Jump.

Cards 208

Cards New York Capital Compliance 208

PYMNTS

SEPTEMBER 6, 2018

Compliance and risk? Automating that compliance is now a “need to have.”. The age of technology is, of course, well upon us, with Software-as-a-Service (SaaS) a key conduit to making sure that at least some business operations — once the province of spreadsheets and reams of paper — can be streamlined. Plugging In To Plugins.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

Abrigo

DECEMBER 22, 2023

Abrigo's most popular financial crime blogs over the last 12 months cover topics that continue to catch the attention of professionals and regulators. Those read most often in the past year include several that offer practical advice for operating AML and fraud programs. Here are Abrigo’s 10 top AML and fraud blogs in 2023.

Fraud 221

Fraud Training Compliance Trends 221

Bank Innovation

JANUARY 8, 2020

While chip cards are becoming a mainstay at brick-and-mortar retail checkouts, gas pump payment technology lags behind. gas station owners until October of this year to upgrade pumps to accept EMV chip cards, rejecting a deadline extension request from the Merchant Advisory Group. Gas station operators who fail to […].

Cards 259

Cards Meeting Groups Retail 259

PYMNTS

NOVEMBER 19, 2019

Among the biggest debates is how to construct and operate the best card program possible – a decision that served as the foundation for a new PYMNTS interview with Jim Geeslin, head of strategy for Elan Financial Services , an agent credit card issuer. Do FIs want to navigate card programs through that?”.

Cards 140

Cards Apple Data Innovation 140

PYMNTS

JANUARY 19, 2021

But reaching a broader range of consumers, accommodating their payment preferences, and satisfying regulatory and tax issues in unfamiliar territory introduces a host of new operational challenges for these companies. Retailers are entering new markets at a time when regulations are becoming more complex and costly, not less.

Branding 322

Branding Taxes Fraud Regulation 322

PYMNTS

MARCH 8, 2018

and group compliance director, explained to PYMNTS how online tools can make remote identity verification even more robust than in-person processes — and also help kick cross-border payments into higher gear. WorldRemit is focused on P2P , and its experience has implications for B2B operations, Nazzaro said. Taking Transfers Online.

Compliance 101

Compliance Regulation Online Payments 101

PYMNTS

NOVEMBER 9, 2016

Any organization, small or large, private or public, must handle the pressures of compliance. “It varies around where revenue is coming from, the requirements attached to that revenue and the scale of operations. . Sure, a paper check can get money to where it needs to go.

Compliance 174

Compliance Resources Data Management 174

Abrigo

JANUARY 6, 2023

Increasingly, recruiters and operators of walkers advertise their mules on underground Telegram channels. Instead, they interact directly with a walker operator who oversees the deposit attempts. Operators aim to make their walkers look like legitimate customers to avoid any hassle at a branch. BSA Rules and Regulation.

Fraud 195

Fraud Regulation Training Operations 195

Abrigo

JANUARY 22, 2024

These tips can help ensure compliance while improving your offerings. Historically, the operational functions of fraud and AML/CFT have remained wholly or partially siloed. 6 Steps t o mitigate fraud risk tied to new products Your AML and fraud teams' input is key when it comes to offering new bank products.

Fraud 221

Fraud Training Risk Management Software 221

PYMNTS

APRIL 29, 2020

The volatility of cryptocurrencies and their existence in what’s often a grey area of regulatory compliance make businesses operating in this sector an unattractive target for traditional financial institutions. FIs themselves struggle with fully understanding how this industry operates, too. As Karalevi?ius

cryptocurrency 283

cryptocurrency Compliance Regulation Payments 283

PYMNTS

JANUARY 20, 2017

Corporate payments firm AirPlus has just expanded its commercial card capabilities through a new acquisition. 19) said AirPlus International reached a deal to acquire corporate card issuer BCC Corporate, based in Belgium, which the firms expect to complete in the second quarter of the year. Reports Thursday (Jan.

Cards 100

Cards Regulation Compliance Payments 100

PYMNTS

SEPTEMBER 15, 2020

This is a great risk because if you don’t have the proper banking tools to get your funds to maintain your business operations, it can be very dangerous for business.”. Tackling that challenge is PSD2, the European regulatory initiative that opened the door for merchants to manage their multiple bank accounts through a single interface.

Payments 299

Payments Risk Management Management Compliance 299

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

JANUARY 14, 2020

Cohen pointed to regulations like PCI-DSS, developed by the Payment Card Industry Security Standards Council for merchants that accept in-person and digital payments to safeguard the data of their customers and payment cards, as well as GDPR (General Data Protection Regulation) in Europe.

User Experience 253

User Experience Security Payments Compliance 253

Abrigo

SEPTEMBER 7, 2023

Often, those alerts mostly likely are routed to the operations area of the financial institution. The operations area should communicate with the BSA/AML area if this function is failing. ACH warnings/exceptions matter. Don’t ignore warnings and exceptions generated from the ACH system. Raise your hand about ACH risks.

Fraud 221

Fraud Training System Trends 221

PYMNTS

MAY 17, 2017

Commercial cards are tricky. While they may be instrumental in helping companies manage cash when their employees travel for work, commercial cards aren’t the top payment rail of choice for suppliers, so companies often pay invoices another way. They are also in flux thanks to regulation.

Cards 108

Cards Analysis Data Compliance 108

South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. More states require greater disclosure and control over what banks and card processors can charge.

Conference 195

Conference Payments Fraud Data 195

Abrigo

JULY 13, 2023

Crafty scammers exploit weaknesses in fraud and anti-money laundering (AML) compliance programs such as outdated technology, human error, or inadequate monitoring systems. Massive financial losses can destabilize their operations, impact profitability, and harm their reputation. The consequences can be dire for financial institutions.

Fraud 195

Fraud cryptocurrency Training social media 195

PYMNTS

JUNE 18, 2020

Members of the newly-formed Open Payments Coalition, which include GoPay, Ripple, Blockchain.com, BitPay, Brave, Flutterwave, and Mercy Corps, say the newly minted PayID will enable customers to send and receive money across any of their payment networks without the hassle of dealing with credit card or bank routing numbers.

Payments 247

Payments Compliance Regulation Groups 247

PYMNTS

JANUARY 28, 2019

Will the ban on the credit card surcharge automatically lead to significantly higher prices when consumers opt for the plastic (via card or digital wallets) at the pump, at the counter … or pretty much anywhere? In New York this month, credit card surcharges got the okay. Maybe, maybe not. As Webster recounted Monday (Jan.

Cards 125

Cards New York Oklahoma Connecticut 125

PYMNTS

SEPTEMBER 18, 2017

The credit bureaus were included in the CFPB’s scope of oversight in 2012, and she’s asked the agency to let her know what additional power it might need to better regulate the credit reporting agencies going forward. Senator Elizabeth Warren (D – Mass.) I’m sure they are quite busy making their list and checking it twice.

Report 202

Report Regulation Data Retail 202

PYMNTS

AUGUST 9, 2019

Yet this was compliance-ready, not operationally ready. Additionally, they see potentially 25 to 30 percent of transactions being declined in the short term unless a compliance timeline is agreed upon. . Merchants were still waiting for answers from card acquirers as to what they needed to do.”. 14 deadline.

Compliance 152

Compliance Regulation User Experience Retail 152

PYMNTS

JANUARY 13, 2020

In order to enhance and ensure security and safety for all stakeholders — including, most critically, customers — the Reserve Bank of India ( RBI ) last Friday modified the penalties for payment system operators who do not follow regulatory requirements.

Compliance 130

Compliance System Security Payments 130

PYMNTS

OCTOBER 10, 2019

Today in the payments news roundup, average interest rates on credit cards are approaching record levels. Also, the rollout of WhatsApp Pay in India may be held back by data processing regulations. Credit Card Interest Rates Rise To Near-Record Levels. And the Libra Association’s member firms are slated to meet on Monday (Oct.

Cards 109

Cards Payments Meeting Regulation 109

PYMNTS

JULY 24, 2020

Founded in 2015, Revolut began by offering prepaid debit cards that allowed users to avoid foreign exchange fees while traveling abroad. with an app and debit card, expanded into cryptocurrency trading with Paxos Trust Co., Since then, the financial technology (FinTech) company has expanded its portfolio to also offer business banking.

San Francisco 255

San Francisco Fintech cryptocurrency New York 255

Abrigo

JANUARY 31, 2023

Recap and forecast The current state of AML/CFT regulations Terminology change Financial crime professionals have long referred to Bank Secrecy Act (BSA) compliance in conjunction with anti-money laundering efforts as “BSA/AML.” However, the regulatory movement since then has been slow.

Fraud 195

Fraud Training Regulation Trends 195

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. While 38 states , along with Washington D.C., Guam, Puerto Rico, the Northern Mariana Islands, and the U.S.

Puerto Rico 195

Puerto Rico Virgin Islands Guam United States 195

CFPB Monitor

OCTOBER 17, 2022

Last week, the CFPB released its eleventh annual report to Congress on college credit card agreements. The annual report is mandated by the CARD Act. The CARD Act requires mandatory reporting to the CFPB by card issuers on agreements with institutions of higher learning or certain affiliated organizations (such as alumni associations).

Cards 78

Cards Report Regulation FDIC 78

CFPB Monitor

JUNE 14, 2021

The new law became effective immediately upon signing notwithstanding the authority it gives the Illinois Department of Financial and Professional Regulation (“IDFPR”) to adopt rules “consistent with [the] Act.”. Proposed Regulations. The IDFPR has proposed regulations to implement the Act.

Illinois 78

Illinois Regulation Report Lending 78

PYMNTS

NOVEMBER 6, 2018

PCI compliance is vitally important for businesses that process credit cards. That’s why utilizing tokenization to eliminate the need to store sensitive data in the first place can reduce scope and simplify compliance, said John Noltensmeyer, TokenEx’s Head of Global Privacy and Compliance Solutions. Gearing up for GDPR.

Compliance 179

Compliance Data Security eBook 179