Compliance Execs Forge Closer Ties With Corporate Buyers


With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes.

Accutive Eyes GDPR Compliance With Encryption Alternative


Data Discovery enables businesses to identify sensitive data that will require specific regulatory compliance measures. GDPR compliance has emerged as a particularly difficult regulation for some corporate compliance teams.

Compliance will kill the bank

Chris Skinner

I was talking with a banker at a recent conference, and was surprised by his attitude.

Reserve Bank Of India Fines Lenders For SWIFT Non-Compliance


The specific reasons for the non-compliance was not released. When RBI checked for compliance, it found gaps in more than 20 places. Regulation banking fines News non compliance RBI regulation scandal SWIFT What's Hot

Take a risk-based approach to compliance management

Insights on Business

Senior executives at financial services institutions have expressed the need for a stronger link between compliance and risk as stories of improper conduct and regulatory require­ments for AML, sanctions, customer fairness, data protection and privacy continue to dominate the business headlines.

The Compliance Beast Of Food Retail Supply Chains


Tightening regulations have introduced loftier compliance burdens to global supply chains, made even more complex and challenging as companies do business with thousands of vendors across borders. The burden of regulatory compliance came to a head in the U.S.

Compliance Monitoring

Mobile Payments Today

Included in our range of premium services is a Compliance Monitoring solution provided in partnership with MCP Insight

Finexio Targets B2B Payments Compliance With Cass


Our partnership with Cass, an information processing and financial holding company with considerable experience in routing and handling B2B payments, provides Finexio and our customers access to a Federal Reserve member bank with a comprehensive suite of compliance and fraud detection tools.

MUFG Bank Enters Consent Order With OCC Over AML Compliance


Office of the Comptroller of the Currency (OCC), over deficiencies that the OCC identified in the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program. The office recently examined the branches for BSA/AML and Office of Foreign Assets Control (OFAC) sanctions compliance.

Coupa Eyes Fraud, Compliance In Spend Management Updates


Corporate expense management solution provider Coupa has updated its platform with new features targeting compliance and fraud prevention. B2B Payments B2B compliance Coupa employee spend expense management fraud News What's Hot In B2B

Can Comic Books Boost Compliance And AML Efforts?


Now comes a comic book contribution to one of the most vexing and vital issues of modern payments and commerce — fraud prevention and ID compliance. 18) that is has released a free comic and coloring book entitled “ The Adventures of ID Man and Compliance Kid.”.

Judo Capital Taps VERMEG For Reporting Compliance


B2B Payments Australia B2B banking license challenger bank compliance FinTech Judo Capital News RegTech regulations Reporting software VERMEG What's Hot In B2B

Global GDPR Compliance Rates Remain Low


Compliance of General Data Protection Regulation (GDPR) rules remain low across the globe, according to the latest research from Dimensional Research. When researchers isolated the findings to businesses in the European Union (EU), they found only marginal improvement, with 27 EU companies reporting GDPR compliance. However, the cost of GDPR compliance is significant. companies said they have spent at least $1 million on compliance initiatives.

Compliance As Competitive Advantage


Compliance is also becoming an enterprise-wide endeavor, and compliance officers must adopt a global mindset. When asked as to what the three things that are most urgently in need of attention when it comes to compliance and fraud, Gurz said that “one is balancing efficiencies versus risk. Security & Fraud ACH CGI cheryl gurz compliance Financial Crime fraud Main Feature Security

e.l.f. Compliance Settlement Highlights Third-Party Supply Chain Risks


The case highlights the risks and challenges companies face in not only vetting their suppliers, but vetting their suppliers’ suppliers, with third-party vendors a potential source of non-compliance for importers. Last month, e.l.f. Cosmetics reached an agreement with the U.S.

How next-generation technologies are transforming governance, risk and compliance

Insights on Business

Reading the paper, you will see how new artificial intelligence (AI) capabilities, enhanced user experience (UXD), and data-driven analytics informed by regulatory expertise are enabling businesses around the world to redefine governance, risk and compliance across the organization.

Morgan Stanley Fined By FINRA For Compliance Lapses


Wall Street firm, was fined $10 million by the Financial Industry Regulatory Authority (FINRA) for compliance failures. Regulation compliance Finra Morgan Stanley News Regulators What's HotMorgan Stanley, the U.S.

For Blockchain Adoption, FIs Have to Solve Compliance First

Bank Innovation

The next big thing in financial services won’t make it very far off the ground if FIs don’t innovate with an eye towards compliance.

MoneyGram Shares Slammed On Revenue Slide Amid Compliance Efforts


MoneyGram shares sank as much as 25 percent during intraday trading on Friday (November 9), as the company reported results that reflected the impact of new compliance rules to stop fraudulent transactions, which has hurt top line momentum — and which will continue.

Supply Chains Stumble Through GDPR Compliance


The data security requirements have wide-reaching implications for businesses across sectors, but as companies expand globally and business partners connect on digital channels, supply chains’ GDPR compliance is an increasing focus of security and compliance initiatives in the enterprise. GDPR compliance must be a component of the supplier relationship management strategy, analysts said.

Innovative compliance technology is empowering end-to-end GRC

Insights on Business

Whether the change is additional regulations or a rollback of existing regulations (which we are seeing in the US), the impact on financial institutions and their legal and compliance professionals is significant. Visit our governance, risk, and compliance page: [link].

RegTech: From Compliance Checkbox To Competitive Cornerstone


According to John Epperson, principal at Crowe LLP , that goes to show that the current approaches to regulatory and compliance technology ( RegTech ) aren’t working. On top of that, there’s the sales challenge: “We can implement the best tech in the world and solve complex challenges,” said Epperson, “but we also have to sell it to regulators and prove it’s working – that it’s mitigating a compliance or regulatory function.”.

Former Apple Securities And Compliance Lawyer Charged With Insider Trading


According to the SEC complaint, he was “responsible for Apple’s compliance with securities laws.”. The Securities and Exchange Commission (SEC) charged a former Apple lawyer with illegal insider trading on Wednesday (Feb. 13), according to a report by CNBC.

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Demystifying AI for risk and compliance

Insights on Business

A recent explosion of AI applications is taking place in financial institutions, particularly in the area of risk and compliance. So how is AI helping risk and compliance processes? Risk and compliance departments suffer from massive data loads and exhausting regulatory requirements.

Digital Compliance Sends Money Transfers Speeding


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. Having those compliance checks in place is crucial for a cross-border operation.

IdentityMind On The Need For FinTech Compliance Marketplaces


Compliance and risk? Automating that compliance is now a “need to have.”. Compliance and risk officers have the unenviable task of finding out, sometimes after the fact, that not all the boxes are checked — if they even knew the boxes were there for checking in the first place. IdentityMind Global has debuted the RegTech Webstore , billed as a RegTech online marketplace that enables firms to integrate regulatory compliance functions directly into their own offerings.

The Data Differentiator In Compliance


Banks and financial institutions spend billions of dollars to ensure they are meeting compliance requirements and properly managing risks. Despite a compliance market packed with providers and the investment from companies to ensure they stay on the right side of regulations, instances of money laundering and fraud are still prevalent and not going anywhere any time soon. Filling The Compliance Gap.

The ePayments Way To Compliance


Any organization, small or large, private or public, must handle the pressures of compliance. Nonprofits, however, have to not only ensure they fall in line with corporate-facing regulations around processes like payroll and cross-border payments, but, explains Dan Murphy at nonprofit software firm Abila , the compliance stakes are higher, more numerous and more complex than they are at the typical for-profit firm.

Payroll Shortcuts Put Corporates In Compliance Jeopardy


Globalization, while supporting business growth, places new pressures and challenges on the payroll department — particularly when it comes to compliance and the need to manage regulations that continue to evolve both within and across borders. According to a recent report from EY , payroll is becoming an increasingly important part of business expansion strategy and planning, viewed as a function that can support overall compliance efforts.

GDPR Compliance Yet To Gain Traction


The initial verdicts of General Data Protection Regulation (GDPR) are in, at least in terms of compliance – or lack thereof. In news this past week, studies have shown that compliance rates are indeed low, three months in. Data from Dimensional Research shows that many companies – in fact, a majority of them –are not yet in compliance with the mandates. are in compliance.

Google Shopping Rivals Question EU Rule Compliance


Shopping comparison website operators sent a letter to the European Union’s Competition Commissioner Margrethe Vestager late last week contending that Google isn’t complying with a ruling by the EU in regards to how it should display shopping services.

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Compliance As Core Competency


Compliance is not just about dealing with a specific corporate action or use case. When payments are involved, compliance is a way of life, as constant as the transactions themselves, and it is complex enough an activity for some firms as to demand outsourcing to experts. And for WePay, which facilitates the transactions between merchants and payers via a platform model, compliance has been and is continuing to develop as a core competency.

Watson at Work at IBM Think: Meeting compliance through cognitive computing

Insights on Business

Maintaining regulatory compliance is a daunting task. Banks and financial institutions are looking for any advantage they can get to streamline operations and reduce compliance costs. Enter, IBM Watson Compliance. Confusion can become expensive in the compliance industry.

Re-think risk and compliance at IBM RegTech Europe

Insights on Business

As we enter a new year, uncertainty in the risk and compliance landscape is as evident as ever. To proactively respond to this uncertainty, financial institutions assume that the only way for their organization’s to reduce risk and improve compliance is to spend more.

Decoding The Alphabet Soup Of Compliance


Regulation and compliance can be a tough space for many to wrap their heads around. Sunil Madhu , founder and CEO of Socure , joined Karen Webster to give context to some of the compliance concepts trending in the industry and also share his thoughts on what’s coming next down the regulatory pipeline. Compliance Decoded. “The funny thing is that the use of online social data in the world of compliance has been kind of a dirty little secret,” Madhu said.

Cognitive Compliance Highlights an Opportunity for Banks

Insights on Business

They’re spending about $100 billion a year on compliance efforts. The problem is that traditional technology is not well designed to understand and manage regulatory compliance. We call it cognitive compliance. To learn more about Cognitive Compliance, go to: [link].

RegTalk Podcast Episode 1: Accelerating innovation for AML compliance

Insights on Business

regulatory agencies announcing their support and latitude on experimentation in the field of AML innovation , financial institutions are changing their mindset from one of “adequate compliance” to “compliance innovation.”. With five U.S.

The compliance function’s new balancing act


Results of Accenture’s 2016 Compliance Risk Study are in, and the data points to new concerns and challenges for the compliance function. Our study interviewed more than 150 compliance leaders, at banks, capital markets firms and insurance institutions in the.

How Automation Can Help With FATCA Compliance


Israch said he was surprised to find so many organizations were not validating tax info in a compliant manner, considering the current compliance regime. The IRS is hiring and training more than 3,000 agents to enforce its Foreign Account Tax Compliance Act ( FATCA ). Organizations are generally aware of the need to report 1099 income, but it seems that many are not so aware of the even greater compliance required for reporting payments made to foreign entities.

PayCommerce Taps Dow Jones For Compliance Boost


Cross-border B2B payments company PayCommerce is strengthening its compliance position through a new partnership with Dow Jones. PayCommerce said Wednesday (May 31) that it is working with Dow Jones Risk & Compliance to add enhanced screening and compliance features to its global corporate payments offering. In addition to compliance, PayCommerce has also focused on heightening the speed with which it handles these payments.

The future of regulatory compliance converges at IBM RegTech Europe

Insights on Business

A common assumption in risk and compliance is that financial institutions typically have to spend more to meet their regulatory obligations. They demonstrated their new approach to achieving compliance through technology at IBM RegTech Europe in London.

Compliance — Not ROI — Pushes Tech On Unprepared Fleets


According to Sid Nair, senior director of transport and compliance at Teletrac Navman, fleet managers appear to be adopting technologies like ELDs merely to maintain compliance. “We’re seeing more companies invest in telematics, but, unfortunately, many are only doing so to check the compliance box, not making the most of the technology to better their businesses,” Nair said in a statement. Fleet management has vast opportunities in digitization.

Verizon: PCI DSS Compliance Down For First Time In Six Years


A case of complacency on compliance? 25) from Verizon Communications, full compliance with the PCI DSS (short for Payment Card Industry Data Security Standard) dropped last year, the first decline seen in six years. percent of the organizations surveyed were in full compliance, according to data gleaned from 2,400 reports stretching back to 2012. percent at full compliance in Europe, while the standing was 39.7 As noted in a report that debuted on Tuesday (Sept.