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.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

PYMNTS

FEBRUARY 22, 2019

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. On Wednesday (Feb.

Compliance 108

Compliance Los Angeles New York blockchain 108

PYMNTS

DECEMBER 16, 2020

New draft rules tied to the Digital Services Act and Digital Markets Act (collected under the Digital Services Act Package ) would broaden European Union regulators’ power to rein in Big Tech. And, of course, as have been seen in the past, sweeping fines loom as part of the arrows in the European Union’s quiver.

Regulation 270

Regulation Compliance Online Software 270

PYMNTS

APRIL 26, 2019

In the world of supply chain compliance, complex regulatory requirements like Know Your Customer (KYC) and anti-money laundering (AML) probably come to mind. There are also the challenges of supplier management, tax legislation, cross-border compliance, worker protection and more.

Compliance 147

Compliance Policies Guidelines Examples 147

CFPB Monitor

JULY 12, 2022

However, regulators themselves have been criticized for encouraging de-risking by driving highly risk-adverse decisions by FIs, who are unwilling to take the chance and assume the compliance costs of doing business with specific customers who may in fact be “legitimate,” but whose risk profile is deemed to be high due to their group affiliation.

Regulation 78

Regulation ATM Operations Policies 78

Abrigo

APRIL 6, 2022

Takeaway 2 The change includes an obligation to inform regulators of a “notification incident” ASAP and no later than 36 hours after a reportable event occurs. In this guest column by Jeffrey Taft and Matthew Bisanz of Mayer Brown 's Financial Services Regulatory & Enforcement practice, learn more about how to be ready for compliance.

Security 195

Security Regulation District of Columbia United States 195

Abrigo

JANUARY 11, 2022

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

FICO

MARCH 7, 2023

Home Blog FICO Responsible AI: Are European Firms Ready for the Regulators? There are significant changes coming in Europe, which highlight getting a handle on responsible AI use, with the banking and financial services sector among those that will be most impacted by increasing regulation.

Regulation 52

Regulation America Compliance Fraud 52

PYMNTS

APRIL 10, 2019

Yet, as supply chains expand across borders, a new burden has landed on procurement teams’ shoulders: compliance. ” Electronic invoicing requirements are one example of markets’ heightening focus on tax compliance. Globalizing supply chains adds an extra layer of complexity, of course. Audit Targets.

Taxes 139

Taxes Compliance Regulation Data 139

Abrigo

NOVEMBER 17, 2023

This , of course , doesn’t include fraud losses that were not filed due to the victim's embarrassment or lack of knowledge on how to report. Additionally, the human capital investment—in terms of both hiring fraud prevention experts and training existing staff—represents a significant operational expense. financial s ystem.

Fraud 195

Fraud Training Trends Compliance 195

Abrigo

MAY 20, 2022

Last April, the FDIC released an Interagency Statement titled Model Risk Management (MRM) for Bank Models and Systems Supporting BSA/AML Compliance. The CAMELS rating is a measure of a financial institution’s risk based on an evaluation and rating of six essential components of its financial condition and operations. Lowering Risk.

Risk Management 195

Risk Management Management FDIC Meeting 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. Regulations are still where they were pre-pandemic,” Valdespino said. Regulations tend to vary across states, leading to a “patch quilt” of payment offerings.

Cards 236

Cards Compliance Regulation Payments 236

PYMNTS

MAY 22, 2017

That depends, says counterterrorism and cybersecurity expert Richard Clarke, on what companies, banks and regulators are willing to learn from the incident. To get more banks into the two-step authentication mix, Clarke recommends regulation, which would compel mandatory compliance. “A s National Health Service.

Regulation 116

Regulation National Online System 116

South State Correspondent

OCTOBER 26, 2023

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. The discussions were healthier, more compliance-focused, and with little expectations that banks were going to offer crypto to their customers any time soon.

Conference 221

Conference Las Vegas Fraud Case Study 221

PYMNTS

AUGUST 14, 2019

But a delay is not really a break – it just means more time for important work to be done, and for businesses and regulators to figure out what really works in the SCA space. Operational Concerns. Yet this meant compliance-ready, not operationally ready. SCA, slated to begin on Sept. a fingerprint), what they have (e.g.,

Compliance 115

Compliance Tools Regulation Meeting 115

PYMNTS

DECEMBER 11, 2019

“We had to deal with credit and trust issues very quickly,” he said, echoing other FinTech leaders and entrepreneurs who operate in the Middle East and in the Gulf countries. “We Regulators the world over are beginning to take a closer look at the alternative and marketplace lending business model. More Focus on P2P Lending.

Fintech 144

Fintech Lending Regional Regulation 144

Jeff For Banks

APRIL 4, 2024

Shadow Banking refers to banking-like operations that take place outside of the mainstream banking industry. Shadow bank lending is similar to bank lending but is not subject to the same regulations, and compensating deposit balace requirements. and 53% indirect costs: operations, IT, human resources, etc.

Banking Trends 113

Banking Trends Trends Millennials Oregon 113

PYMNTS

FEBRUARY 26, 2020

Cross-border payments are a fragmented space with disparate standards, service levels, and compliance and reporting regulations varying from country to country. Many financial institutions have already incorporated it into their everyday operations, and those that have not are not far behind.

Community 261

Community Compliance Data Payments 261

PYMNTS

NOVEMBER 19, 2019

The compliance burden of a legal marijuana business having to manage regulations that vary by state, and between the state and federal level, has created a banking conundrum for a market forced to rely heavily on cash. But the compliance challenges associated with this market are not easily (or quickly) addressed.

Company 109

Company Compliance Payments Taxes 109

PYMNTS

AUGUST 20, 2018

Three months in, the European Union’s General Data Protection Regulation still stymies some firms seeking to comply with new rules and regulations governing data protection and privacy. As many as 85 percent of firms are boosting budgets over the previous year’s, tied to data privacy and compliance.

Fintech 101

Fintech Survey Regulation Resources 101

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. It is likely that regulators will soon ask banks to come up with a plan. Pacific Time.

Conference 195

Conference Payments Fraud Data 195

PYMNTS

JANUARY 3, 2020

Payments, of course, have always been important, but the new decade promises to be something else entirely. Sure, legacy inertia is a significant force to overcome, especially given all the auditing and compliance regulations such companies must adhere to. But in fairness, it’s going to be a big one, at least from all the signs.

Payments 209

Payments Innovation Maine Compliance 209

PYMNTS

OCTOBER 15, 2020

We had already identified that we wanted to grow out of being a point solution and become more of an end-to-end compliance and identity proofing platform,” Pointner said. “We Of course, Pointner added that “the growing volume of novel schemes are a very interesting opportunity for [Jumio] as well.”.

Company 243

Company Fraud Compliance Course 243

PYMNTS

DECEMBER 11, 2019

Many legal cannabis businesses continue to rely on cash, paper and offline methods of communication to conduct operations without access to traditional financial services. Of course, that’s not always easy when industry participants are forced to rely on state-chartered banks, or no banks at all. Technology From The Get-Go.

Payments 130

Payments Industry Compliance Technology 130

CFPB Monitor

NOVEMBER 29, 2021

The 2022 clarity promised by the “roadmap” presumably will supersede, once issued, Interpretive Letter #1179, which appears to function as a general stop-gap until the 2022 publications hopefully provide more detail regarding exactly how banks can attain compliance. Federal banking regulators have been busy in this space.

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

CFPB Monitor

APRIL 28, 2022

As the number and frequency of cyber attacks continue to grow, regulators have attempted to enhance cybersecurity protections via increased and more rigid incident reporting obligations, leading to a constantly shifting regulatory patchwork of varying disclosure and timing obligations.

Report 147

Report FDIC Regulation Security 147

Abrigo

NOVEMBER 9, 2020

Prudential regulators have made it clear that while they will adjust supervisory strategies as appropriate to emerging risks of the pandemic, examiner scrutiny will continue assessing basic principles that ensure the safety and soundness of financial institutions. Sound loan administration detects emerging problems.

System 195

System Lending Software Risk Management 195

Abrigo

JANUARY 21, 2020

Despite Federal ambiguity, State Regulators are beginning to clearly define their stances on cannabis banking. Compliance and anti-money laundering (AML) is going green… or is it? State Banking Regulators. I believe we will see more state banking regulators join them in 2020. GET STARTED. Conclusion.

United States 243

United States New York Regulation DC 243

PYMNTS

JANUARY 22, 2019

Last year brought the General Data Protection Regulation (GDPR) deadline, Europe’s attempt to boost online privacy and security for consumers — a law that just resulted in a $57 million fine against Google , which was accused of not doing enough to gain the consent of users when collecting data meant for targeted advertising. 70 percent.

Payments 195

Payments Regulation Security Data 195

PYMNTS

JANUARY 22, 2020

A year ago (when the rollout was still officially on the calendar for September of 2019), merchants, acquirers and issuers all over the European Economic Area (EEA) were widely confused over what the new regulations entailed, and how exactly they were supposed to prepare for them. As the Sept.

Data 141

Data Guidelines Regulation Compliance 141

PYMNTS

MARCH 27, 2019

What the regulator (or lawmaker, or court) giveth, the regulator (or lawmaker, or court) can taketh away. Of course, that’s not the only type of pressure that comes to bear on friction for customers of online gambling services. Regulations are another huge factor. . – the first March Madness since the U.S. In the U.S.,

Online 115

Online Regulation Compliance Security 115

FICO

JUNE 30, 2016

Aggregation and effective use of this data are becoming key to meeting new compliance challenges, not to mention an opportunity to derive additional business value. The regulation required impacted banks to align to a set of principles of effective risk management and governance by January 2016. appeared first on FICO.

Compliance 45

Compliance Management Data Risk Management 45

PYMNTS

DECEMBER 14, 2017

The eyes of the financial services world are on the EU’s upcoming PSD2 regulations, with many jurisdictions watching how the European market evolves and responds to regulations that support data sharing and open banking, while maintaining data security. Risk of Non-Compliance. Open To Interpretation.

Data 124

Data Compliance Regulation Survey 124

PYMNTS

JUNE 4, 2019

Trulioo said it is teaming with Refinitiv — operator of the World-Check Risk Intelligence database — to promote global financial inclusion and fight fraud. The technology helps to ensure compliance with anti-money laundering (AML) and other compliance regulations, and Refinitiv is among the biggest players in this space.

Fraud 125

Fraud Compliance Course Branding 125

PYMNTS

MAY 23, 2017

In this edition of the PYMNTS’ Commander in Chief Series , Western Union President Odilon Almeida shares a day in the life as leader of one of the largest global person-to-person money transfer networks, what smartphones have done for the payments space and why security and compliance are always key in a game where the rules are changing every day.

Innovation 190

Innovation Payments Compliance Risk Management 190

PYMNTS

MAY 30, 2018

Banks, he noted, have to be compliant with a host of extremely stringent regulations, and often across multiple jurisdictions – all with different rules. There are a lot of market factors and regulations that are pushing banks – but they certainly don’t like it when they see firms like Apple, Google and Samsung operating customers’ wallets.”.

Fintech 160

Fintech Regulation Compliance Innovation 160

FICO

DECEMBER 21, 2016

That means 2017 should be a risky year from a compliance standpoint. Of course, as an analytics provider, we would say that. To help in those efforts, regulators are requiring firms to improve their KYC programs with more detailed data and advanced analytics. Compliance will break through the “cloud ceiling.”.

Compliance 40

Compliance Analytics Taxes Groups 40