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.

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Conference Payments Fraud Data 195

CFPB Monitor

MARCH 26, 2020

issued on March 21 , the New York Department of Financial Services (DFS) has adopted new regulations to provide emergency relief to individuals who can demonstrate financial hardship as a result of COVID-19. The new regulations were promulgated as Part 119 to Title 3 of the New York Official Compilation of Codes, Rules and Regulations.

Regulation 88

Regulation ATM New York Cards 88

Abrigo

MAY 8, 2024

Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. They can more easily consider how to harness genAI's power to enhance their operations, compliance, risk management, and member or customer experience. That’s equivalent to 9% to 15% of operating profits, the report notes.

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Examples Fraud Resources Risk Management 221

PYMNTS

JUNE 10, 2016

As a general rule, most startups aren’t too happy when the regulator comes around, and it is rarely indicative of good news. These days, however, Uber is spending its time, increasingly, in court and has even managed to allow things to break down completely in Austin such that it doesn’t operate there anymore.

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Regulation National Austin Fintech 100

PYMNTS

DECEMBER 4, 2020

Mastercard Intros Mobilized Virtual Cards; Defines Intersection Between Functionality And Security. The virtual card offers a strong value proposition for corporates in the form of enhanced security and control over spend. But without support for mobile wallets, v-card adoption can lag. Top Trackers And Reports.

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Cards Data Mobile Survey 151

Abrigo

JANUARY 22, 2024

What’s more, FinCEN included fraud in its eight anti-money laundering/countering the financing of terrorism (AML/CFT) national priorities in 2021, explicitly linking fraud detection and prevention to AML/CFT responsibilities for the first time. However, AML investigators identify many fraudulent transactions and patterns.

Fraud 221

Fraud Training Risk Management Software 221

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

AUGUST 9, 2018

The regulatory head also convinced Apple to allow spam detection on its iOS mobile operating software for the iPhone. Sharma previously served as the first director general of Unique Identification Authority of India, a government body in charge of India’s national identity card system, which is based on biometrics.

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Regulation social media Apple Mobile 100

PYMNTS

APRIL 9, 2020

The cybercriminals demanded $6 million in ransom with a promise that they would not release the sensitive information of Travelex customers, including birthdates and credit card numbers. They claimed to have birthdates, credit card information and national insurance numbers and demanded the $6 million payment.

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Report Groups Data Cards 279

FICO

JUNE 21, 2022

Credit Card Limit Optimization: Akbank Wins with FICO Analytics. Akbank, one of the largest retail banks in Turkey, has improved the way it makes offers to consumers for new credit cards and credit limit increases by leveraging mathematical optimization and action/effect modelling from global analytics leader FICO. by Nikhil Behl.

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Analytics Cards Strategy Regulation 52

Perficient

NOVEMBER 22, 2022

Members of the Army and Air National Guard, provided they have been called to respond to a national emergency and their period of active duty is more than 30 days in a row. Active duty commissioned officers of the Public Health Service or the National Oceanic and Atmospheric Administration. All active-duty Reserve personnel.

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National United States America Lending 275

PYMNTS

MAY 19, 2020

In other news, the government of Iran is aiming to limit digital currency exchanges with so-called “currency smuggling” regulations, CoinDesk reported. Multiple crypto operations serving the country, however, are legally based in other nations. dollars and Ukrainian hryvnias.

Data 212

Data Bitcoin cryptocurrency Taxes 212

Bank Innovation

MARCH 30, 2018

bank said it will be switching off access to 24 million customers as the bank restructures itself as required by national regulation. Barclays customers across Europe will not be able to use their mobile banking app this weekend. The major U.K. These changes were established by the Bank of England in 2011, and is referred […].

Online 220

Online National Regulation Mobile 220

Abrigo

NOVEMBER 22, 2021

Takeaway 1 Risk tied to consumer lending compliance has been elevated as a result of the pandemic and associated operating challenges. In some cases, those operational challenges posed elevated risk to consumers, the CFPB said. Major consumer loan compliance regulations. You might also like this webinar, "Consumer Lending 101.".

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Compliance Lending Risk Management Regulation 195

PYMNTS

JUNE 18, 2020

The London-based trade group for Europe’s ePayments community is waiting for the European Banking Authority , the European Union (EU) banking regulator, to provide the 27-nation bloc with an update on Strong Customer Authentication (SCA). Credit cards typically contain a chip or require a PIN.

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Groups Regulation Fraud Security 131

Perficient

JULY 11, 2022

Afterpay does not perform a hard credit check on users, but it can still affect credit if users have a credit card as the form of payment connected to their Afterpay account or if they fail to pay back their loans. And, I didn’t have to pay interest, so I’d say Afterpay worked out for me well in this instance.

Fintech 474

Fintech Trends South Dakota Apple 474

Abrigo

NOVEMBER 18, 2019

Key Takeaways Cannabis-related businesses operate in high cash volumes, creating a public safety concern. CRBs operate with high levels of cash, with many of them currently cash-only businesses. Also, major credit card companies have declined to provide services to CRBs or customers doing business at CRBs due to the legal gray areas.

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Regulation Community National Operations 150

PYMNTS

MAY 2, 2019

According to a report in The Financial Times , the new business — dubbed NatWest Tyl — is a merchant acquiring service for small and medium-sized businesses, enabling retailers to accept payments via cards in physical stores and online. NatWest Tyl will make money charging fees to connect them to networks operated by Visa and Mastercard.

Payments 173

Payments Regulation Analytics National 173

PYMNTS

MAY 19, 2020

And, beyond emails and passcodes, the SSU said per the report that the database had “eWallets of cryptocurrencies” and “PIN codes for bank cards,” among other information. In other news, the government of Iran is aiming to limit digital currency exchanges with so-called “currency smuggling” regulations, CoinDesk reported.

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Bitcoin cryptocurrency Taxes Security 148

PYMNTS

AUGUST 9, 2018

A new initiative gaining momentum in Australia would ban interchange fees altogether – and according to reports, the effort includes commercial card swipe fees. 8) said that Commonwealth Bank of Australia (CBA) Chief Executive Matt Comyn is speaking out against efforts to nix interchange fees on electronic card payments.

Cards 100

Cards Regulation Payments Marketing 100

PYMNTS

JULY 22, 2016

It’s even more surprising given that 2016 could be the year that regulation begins to really kick in for these lenders — in the U.S., with the latest figures stating that the industry has lent $943 million in the nation to SMEs in just the first quarter of this year. Alternative Lending. MarketInvoice. million funding round.

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Lending Regulation Big Data Risk Management 100

PYMNTS

SEPTEMBER 2, 2019

percent) express satisfaction with using virtual cards to settle invoices. Faster payment initiatives, a focus on application programming interfaces (APIs) and data integrations and efforts to elevate traditional B2B payment tools like ACH and commercial cards all made waves this summer. Elevating the Commercial Card.

Payments 186

Payments Cards Tools Technology 186

PYMNTS

AUGUST 15, 2018

Visa and Mastercard have been replaced on Russia ‘s Crimean peninsula, as its largest bank has completed the process of switching all credit cards to Russia’s MIR payment system. On August 14, the process of replacing Visa and Mastercard plastic cards in favor of the Mir payment system has ended.

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System blockchain Cards ATM 101

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. The company launched an online store using an eCommerce platform service from China-based Alibaba where it now offers features tailored to appeal to how consumers in the nation prefer to engage with their brands.

Compliance 152

Compliance Report Payments Security 152

PYMNTS

FEBRUARY 14, 2019

The hearing itself was a small victory for proponents who wish to open up the banking system to legal pot operators. That’s because it marked the first hearing dedicated to a proposed bill in Congress that would offer financial institutions protections against federal regulators when dealing with legal cannabis operations.

Oregon 230

Oregon Colorado Operations Washington 230

NCR

OCTOBER 4, 2017

The plan is for the electronic currency to operate via a smartphone app and QR codes that can be scanned in stores. With the Japanese central bank and financial regulator confirming their support for the new payment system, the bank consortium hopes to have it ready in time for the Tokyo Olympics in 2020.

National 45

National Groups blockchain Cards 45

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.” Russia still has the lead in cybercrime and has more experience with intelligence operations than China.

Fraud 195

Fraud Training Regulation Trends 195

PYMNTS

JULY 23, 2020

Regulators in Mexico passed a law governing FinTechs in March 2018, just two months after PSD2 went into effect in the European Union, and others in the region have since followed suit. This steady march toward online banking tools has played a key role in how Brazil’s regulators are structuring its open banking rules.

America 165

America Regulation Regional Tools 165

Abrigo

FEBRUARY 15, 2023

Foreign and domestic terrorist financing – Terrorists require financing to recruit and support members, fund logistics, and conduct operations. Domestic terrorists, known as domestic violent extremists (DVEs), operate primarily within the U.S. Many TCOs currently operate in the U.S., The most common type of terrorism in the U.S.

Fraud 195

Fraud United States Training Policies 195

PYMNTS

DECEMBER 16, 2020

More than 100,000 eateries — or about one in six restaurants nationwide — have closed due to the pandemic, according to National Restaurant Association estimates. A study found that restaurant revenues declined by 9 percent year over year in October, largely due to decreased in-restaurant traffic due to social distancing regulations.

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Fraud social media Mobile Trends 310

PYMNTS

JULY 12, 2019

Visa is committed to its mission of ensuring smooth operation of non-cash payments for all participants of the payment system — banks, merchants [retail businesses] and consumers,” Visa said, adding that it won’t talk third-party opinions “based on assumptions and personal view of the author.”. We do not see reasons for concern.”.

Payments 108

Payments US System Capital 108

PYMNTS

SEPTEMBER 18, 2018

The nation is forming a Direct FAST industry group, where the members will include traditional financial institutions (FIs), FinTech firms and the Monetary Authority of Singapore (MAS). The movement to open that FinTech access, said the minister, brings “greater convenience to consumers” as those individuals use their eWallets.

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Fintech New York US National 166

PYMNTS

APRIL 12, 2019

He told Karen Webster about why the payment card network is working with contactless payment company Mobeewave in Australia to bring more merchants — smaller ones — into the digital payments ecosystem, a move that can also pay dividends for cardholders.

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Fintech Innovation Mobile Payments 168

PYMNTS

DECEMBER 8, 2020

In today’s top news, economists expect the economy to recover back to pre-pandemic levels by the end of 2021, and China’s banking watchdog warns of further Big Tech regulations. Capital One Halts BNPL Transactions On Its Credit Cards. Plus, online lending startup SoFi is looking to go public through a SPAC.

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San Francisco Community Bank Video Capital 130

Abrigo

SEPTEMBER 3, 2021

In addition, as the nation has seen global cyber threats, particularly from North Korea, Russia, and Iran, the Office of Foreign Assets Control (OFAC) also issued an advisory related to cyber-abled crime. The software is prepackaged on some operating systems or can be purchased for individual computers. BSA Rules and Regulation.

Training 195

Training Software Fraud Security 195

Abrigo

MAY 12, 2022

As evidenced by recent attacks on the nation's fuel and food supplies, ransomware is a particularly acute concern. The 2021 publication of the FinCEN priorities lists both cybercrime and fraud as part of the eight national security and illicit finance threats that the U.S. Fighting financial crime is more than a full-time job.

Fraud 195

Fraud Training cryptocurrency Software 195

PYMNTS

FEBRUARY 13, 2017

Instead of focusing on the fees Apple charges to access its payments platform, the four biggest banks down under are instead asking the nation’s financial regulator to allow them to collectively bargain with Apple with an eye toward gaining access to the company’s contactless payment function.

Apple 108

Apple National Cards Regulation 108