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Florida City Pays Hundreds Of Thousands To Hackers

PYMNTS

One small Florida city has had to pay cybercriminals thousands of dollars in ransomware. Lake City, a community of about 12,000 people west of Jacksonville, forked over hundreds of thousands of dollars after a ransomware attack crippled its systems.

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Trade-based money laundering: The link to terrorist financing

Abrigo

See Part I: Implications for Community Financial Institutions. Transnational criminal organizations will use anything of value, which can be turned quickly into funds. This is why focusing on the methodology rather than the commodity is more important. Stay up-to-date on the latest FinCEN priorities.

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Bank Fraud Case Exposed by Unusual Source

ABA Community Banking

Six people were arrested last week of bank fraud in Jacksonville, Florida Feature Risk Management AML & Fraud Customers Operational Risk Cyberfraud/ID Theft Feature3.

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Branching Out: Physical Locations Boost CUs' Digital Plans

PYMNTS

Many CUs have since leaned into these efforts with digital innovations aimed at a range of issues, such as tackling fraud or enhancing members’ remote banking access. Canada’s largest community credit union has announced that it is expanding its commercial network. It also offers participating CUs customized consulting services.

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PenFed’s Playbook On Helping Government Workers Survive Shutdowns

PYMNTS

In the March Credit Union Tracker , PYMNTS explores how credit unions (CUs) and credit union service organizations (CUSOs) are working to cater to the unique financial needs of their members, while also focusing on continually combating fraud. PSCU is one CUSO focused on proactively fighting fraud. Around the Credit Union Landscape.

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Bitcoin Daily: Hdac, CertiK Partner For Blockchain-Powered IoT; Tezos Expected To Settle Securities Lawsuit With $25M Settlement

PYMNTS

The lawsuit goes back to October 2017, when Boston law firm Block & Leviton said it was looking into securities fraud by the Tezos ICO. Block & Leviton, which specializes in securities cases, sued the firm, and it wasn’t the only entity to do so — cases were filed in California and Florida courts around the same time.

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Gulf Winds’ Data Driven Approach To Member Retention

PYMNTS

CUs are working to build community ties, especially during the holiday season. The initiative removes friction and reduces fraud risk when members apply for loans, also reducing the potential for human-based errors. Developments From Around The World Of Credit Unions. About The Tracker.

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