Abrigo

JULY 21, 2022

Teaching branch staff these KYC tips can aid CDD compliance BSA Officers can help tellers and other branch staff learn how to ask questions that both foster relationships and support CDD compliance. . But they can also help your BSA team by supporting Know Your Customer (KYC) and Customer Due Diligence (CDD) compliance. .

Compliance 195

Compliance Training Fraud Examples 195

Banking Exchange

MAY 19, 2021

Corporation is the latest regulator to respond to the rapidly growing fintech market Compliance Technology Feature3 Fintech Blockchain Feature Financial Trends Bitcoin Cryptocurrency Compliance Management Compliance/Regulatory.

Regulation 78

Regulation FDIC Compliance Bitcoin 78

PYMNTS

DECEMBER 26, 2019

Chinese technology company Tencent has announced it’s going to start researching cryptocurrency and its implications for an ongoing project in blockchain, according to reports. China has been increasingly interested in the blockchain network and its public utility, especially in the fields of energy management and telecommunications. .

cryptocurrency 131

cryptocurrency Company blockchain Exercises 131

PYMNTS

JULY 16, 2019

France’s financial regulator is set to approve a wave of cryptocurrency-related firms in the country, subjecting them to new rules that include paying taxes and complying with capital requirements and consumer protections, according to a report by Reuters. Because digital currency is so new, regulations vary around the world.

Regulation 143

Regulation Company cryptocurrency Taxes 143

Gonzobanker

NOVEMBER 22, 2022

Well, Gonzobankers, the smart, idealist and self-declared revolutionary crypto kids just bought themselves a future of regulation — intricate, overbearing, and frustrating regulation, and regulation that the market will now demand. Welcome to adulthood, y’all. Wonderful” O’ Leary, and of course Tom and Gisele. What’s Next?

Regulation 174

Regulation blockchain Marketing Strategy 174

Abrigo

DECEMBER 19, 2022

Checklists, guides, and more to help you and your AML-CFT staff Thousands of FinCrime professionals have accessed these guides, checklists, and other resources produced in 2022 by Abrigo's team, which includes former bankers, BSA officers, and regulators. . Would you like other articles like this in your inbox? From crypto to cannabis.

Resources 195

Resources Training Fraud Compliance 195

PYMNTS

OCTOBER 14, 2020

The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. This in the wake of the OCC’s Sept. This in the wake of the OCC’s Sept.

cryptocurrency 323

cryptocurrency Regulation Trends Bitcoin 323

Abrigo

MARCH 11, 2022

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. Takeaway 2 Planning now and informing executive management of expected changes will enable NBFIs to move forward with anticipated rules and guidance.

Regulation 195

Regulation cryptocurrency Policies Management 195

Perficient

SEPTEMBER 16, 2022

The letter highlighted mandatory compliance with the following federal regulations: The Bank Holding Company Act. Additionally, the Federal Reserve’s Supervisory Letter also encourages financial institution executives to notify their state regulators prior to engaging in any crypto-asset-related activities. Financial risk.

Compliance 275

Compliance Risk Management System Regulation 275

Abrigo

DECEMBER 28, 2022

Cybercrime, sanctions compliance, and cryptocurrency troubles are bound to be trends for anti-money laundering/countering the financing of terrorism (AML/CFT) and fraud professionals to track in the coming months. Others explain common and emerging fraud trends that compliance staff are working to prevent.

Fraud 195

Fraud Training Compliance Regulation 195

Abrigo

MARCH 7, 2022

Experts weigh in on regulatory hot topics for 2022 Review these 10 insights into what regulators are looking for in 2022 to help your financial institution pass exams with flying colors. Takeaway 1 Regulators have increased their focus on BSA in the first quarter of 2022, and the crisis in Ukraine will put OFAC in the spotlight.

cryptocurrency 195

cryptocurrency Regulation Fraud Policies 195

PYMNTS

DECEMBER 8, 2020

France could propose stricter regulations on cryptocurrency firms, according to The Block. Bruno Le Maire, France’s Minister of the Economy and Finance, previously said proposals were needed "to strengthen the control of financial funds" because "cryptocurrencies pose a real problem of terrorist financing," according to The Block.

Bitcoin 176

Bitcoin Report cryptocurrency US 176

PYMNTS

JULY 15, 2020

with an app and debit card, is expanding its range of services into the realm of cryptocurrency trading with a big assist from Paxos. According to New York-based Paxos, the API-based solution is designed to enable companies to “integrate cryptocurrency buying, selling, holding and sending capabilities into their own applications.”.

US 233

US cryptocurrency FDIC Compliance 233

Banking Exchange

DECEMBER 20, 2021

Pressure to regulate the crypto market continues Compliance Feature3 Feature Duties Compliance Management Compliance/Regulatory Blockchain Bitcoin Cryptocurrency.

Compliance 78

Compliance Bitcoin cryptocurrency blockchain 78

PYMNTS

JANUARY 1, 2021

Indian FinTech Cashaa and the country's United Multistate Credit Cooperative Society teamed up to launch what they say is the world's first cryptocurrency bank branch through a joint-venture bank called Unicas, according to a release. The operation also will provide traditional banking services, according to the backers.

Miami 201

Miami Bitcoin cryptocurrency Florida 201

PYMNTS

OCTOBER 13, 2020

Department of Justice, which said in a report that rogue nations and other risks loom as exchanges are lightly (or not at all) regulated – making it difficult to, as the maxim goes, follow the money. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year. In the report from the U.S.

cryptocurrency 206

cryptocurrency United States social media Regulation 206

Abrigo

AUGUST 4, 2021

Takeaway 1 Managing false positives and keeping up-to-date on regulatory changes continue to be a challenge for financial institutions. Takeaway 2 Banking cannabis-related businesses and cryptocurrency are two hot topics in the BSA/AML and fraud space. What problems are compliance professionals facing today? BSA/AML Challenges.

Fraud 195

Fraud cryptocurrency Survey Trends 195

Perficient

DECEMBER 3, 2021

The Office of the Comptroller of the Currency (“OCC”) issued a letter (1179) that national banks and federal savings associations must demonstrate that they have adequate controls in place before they can engage in cryptocurrency, distributed ledger, and stablecoin activities. The letters may be accessed directly here: 1170.

National 294

National cryptocurrency Regulation Strategy 294

CFPB Monitor

APRIL 25, 2022

Anchorage is not any regular entity overseen by the OCC: it is a cryptocurrency custodian. As we will discuss, the timing of the Consent Order indicates that even when regulators permit crypto activities by financial institutions, they remain cautious, particularly as to BSA/AML compliance.

Compliance 78

Compliance Digital Banking Training South Dakota 78

Banking Exchange

FEBRUARY 8, 2021

‘Knowledgeable and forward-thinking’ regulators praised for work on digital assets banking Compliance Compliance Management Compliance/Regulatory Feature3 Feature Blockchain Cryptocurrency.

Compliance 78

Compliance cryptocurrency blockchain Regulation 78

FICO

APRIL 19, 2021

Last month, too, JPMorgan Chase launched a structure note offering to give clients a way to gain exposure to Bitcoin and other cryptocurrencies. In an interesting choice of words, Forbes refers to the offering as a potential “gateway drug,” presumably to direct cryptocurrency investing. And with that comes regulation.

cryptocurrency 52

cryptocurrency Bitcoin Compliance Resources 52

FICO

AUGUST 12, 2021

Financial Institutions’ compliance officers and teams should be concerned that Open Banking may render their existing AML/CTF and KYC compliance programs inadequate. They provide added services to customers ranging from personal budgeting and spending alerts to personal funds transfers and cryptocurrency wallets.

Compliance 52

Compliance Regulation cryptocurrency Marketing 52

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. That represents nearly 2.8

Fraud 195

Fraud Training Regulation Trends 195

PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. Certainly, the use and availability of cryptocurrencies is another emerging area that is contending with its own unique set of compliance issues, but it is also one Wingert said appears to be closing gaps in regulation.

Fraud 270

Fraud Compliance cryptocurrency Security 270

FICO

MARCH 6, 2020

Visma Connect recently interviewed Jürgen Krieg, FICO's head of global compliance sales. In this excerpt from that article, Jürgen elaborates on the importance of compliance. . At FICO, I am responsible for planning and implementing growth strategies to develop new markets, and the expansion of our compliance business globally.

Compliance 81

Compliance Technology Fraud Analytics 81

PYMNTS

DECEMBER 16, 2020

American Express Ventures has invested in cryptocurrency exchange platform FalconX , according to a press release. FalconX offers its institutional clients an integrated platform that services cryptocurrency trading, clearing and credit. users to avoid running into potential compliance issues.

blockchain 151

blockchain Bitcoin cryptocurrency United States 151

PYMNTS

AUGUST 27, 2018

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. are in compliance. How low are the rates? A bit of optimism: Progress is, well, progressing.

Compliance 102

Compliance social media Study Data 102

FICO

DECEMBER 17, 2020

Cryptocurrency exchange rates have skyrocketed in the past month. According to a recent report , the total of cryptocurrency related frauds and thefts stands at a staggering $7.69b. At the same time, all top US banks now have customers transacting in cryptocurrency through virtual asset service providers (VASP’s).

cryptocurrency 52

cryptocurrency How To blockchain Analysis 52

PYMNTS

AUGUST 23, 2019

Traki customers will be able to use various cryptocurrencies as payment options for the retailer’s products. Traki has been one of the early adopters of cryptocurrencies in Venezuela, which highlights its commitment to improve the traditional financial system,” Zac Cheah, co-founder and CEO of Pundi X, said in a press release. “At

blockchain 124

blockchain Analysis cryptocurrency Bitcoin 124

Abrigo

FEBRUARY 25, 2022

Codified risk-based approach The AMLA codified the risk-based approach for the first time, and a thorough risk assessment is necessary to justify businesses to your regulators. ?As As regulators get up to speed with new FFIEC Exam Manual updates, you may need to remind them that not all groups of customers present the same risk.

Regulation 195

Regulation Policies Compliance Washington 195

PYMNTS

SEPTEMBER 29, 2020

29) announced a deal for the AML platform of Beam Solutions , a San Francisco-based startup that focuses on transaction monitoring and helping financial companies comply with KYC regulations. Another key component of the platform is helping companies manage various KYC and AML regulations in different jurisdictions across the world.

San Francisco 153

San Francisco Compliance Regulation cryptocurrency 153

Abrigo

AUGUST 19, 2022

You might also like this webinar, "Balancing compliance risk & reward with high-risk businesses." Takeaway 1 Regulators recently reminded financial institutions to have risk-based customer due diligence ( CDD ). No customer type presents a sing ular , uniform level of risk.

ATM 195

ATM Regulation Fraud Policies 195

CFPB Monitor

JULY 27, 2020

cryptocurrency custody services on behalf of customers, including by holding the unique cryptographic keys associated with cryptocurrency.” Through intermediated exchanges of payments, banks facilitate the flow of funds within our economy and serve important financial risk management and other financial needs of bank customers.

National 113

National cryptocurrency Risk Management Regulation 113

PYMNTS

NOVEMBER 19, 2019

Cryptocurrency risk management platform TRM Labs announced that it has raised $4.2 Founded in 2018, TRM helps financial institutions across the US, Latin America, Asia and Europe to measure, monitor and mitigate their cryptocurrency risk exposure, enabling them to simplify customer due diligence and meet regulatory requirements.

cryptocurrency 103

cryptocurrency Risk Management blockchain Capital 103

PYMNTS

OCTOBER 18, 2018

The global regulatory framework of cryptocurrencies and blockchain remains either fragmented, vague or simply nonexistent. Part of the initiative includes the SBA’s guidelines to the nation’s traditional financial services market on how to service these industry players while maintaining compliance.

Guidelines 213

Guidelines cryptocurrency blockchain National 213

PYMNTS

JULY 15, 2019

billion is estimated to have been lost to cryptocurrency scams, thefts and fraud in the first quarter of 2019, and cybercriminals and scammers are not the only ones putting digital asset users at risk. More than $1.2 Thwarting fraud and making usage as secure as possible are key concerns for Canadian trading platform Bitbuy. Facing Fraud.

cryptocurrency 193

cryptocurrency Fraud Security Bitcoin 193

PYMNTS

DECEMBER 14, 2017

It’s been a newsworthy week for bitcoin, with agencies around the world concerned with a potential bubble involved in cryptocurrency. report, in conjunction with the Austrian Association for Supply Chain Management, Procurement and Logistics. Here are the numbers: 1.6

Bitcoin 122

Bitcoin Data Compliance Survey 122