FICO

JULY 15, 2021

The challenge for financial institutions of fighting fraud and tackling financial crime has never been greater. Fraud experts need to be armed with the most up-to-date information about the latest industry trends and developments. The new community is driven by some of the finest minds in fraud detection. by TJ Horan.

Community 52

Community Fraud Online Trends 52

PYMNTS

APRIL 22, 2019

The company recently announced a new online solution for onboarding fund houses. Meanwhile, Spanish banking group BBVA is tapping photo- and video-based document and biometric verification measures to secure its digital onboarding. How DraftKings Keeps Fraud Out of Fantasy S ports. customers now onboard digitally.

Fraud 143

Fraud Security Online Video 143

PYMNTS

SEPTEMBER 21, 2018

To that end, the the Internet Crime Complaint Center (IC3), a hub to bring complaints to the Federal Bureau of Investigation (FBI), is eyeing payroll fraud. The methods those bad actors use — and which have been documented in this space — include phishing attempts to gain access to individuals’ credentials. The deposits?

Fraud 141

Fraud Cards Report Mobile 141

Abrigo

MARCH 24, 2023

READ Takeaway 1 Documentation is one of the most critical aspects of performing a risk assessment. Step one Document the BSA/AML risk assessment Documentation is one of the more critical aspects of performing a risk assessment. The credit union’s risk analysis can only be adequately supported with supporting documents.

Fraud 195

Fraud Compliance Examples Analysis 195

PYMNTS

MARCH 27, 2019

As online gamblers all but feast on the odds and brackets of the ongoing NCAA Division I Men’s Basketball Tournament in the U.S. – In that spirit, most consumers understand the need for a relatively involved onboarding process when first signing up for an online gambling site or service. the first March Madness since the U.S.

Online 115

Online Regulation Compliance Security 115

PYMNTS

MARCH 11, 2020

The Reserve Bank of India recently released guidelines outlining an approved method that private companies could use for conducting KYC checks online by using videos. FIs in the United Arab Emirates are also looking to get ahead of fraud with improved digital KYC practices. Download the Tracker to read the Feature Story.

Fraud 150

Fraud Payments Guidelines Regulation 150

Abrigo

DECEMBER 7, 2021

Takeaway 1 Documentation is one of the most critical aspects of performing a risk assessment. Document the BSA/AML risk assessment. Documentation is one of the more critical aspects of performing a risk assessment. Without supporting documents, the analysis of the institution's risk cannot be adequately supported.

How To 195

How To Fraud Analysis Compliance 195

Abrigo

AUGUST 18, 2020

Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. Be aware of emerging fraud schemes. Any time there is a large-scale , global issue, you can expect to see a rise in fraud, and COVID-19 is no different.

Fraud 195

Fraud Lending Trends Compliance 195

Abrigo

AUGUST 18, 2020

Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. Be aware of emerging fraud schemes. Any time there is a large-scale , global issue, you can expect to see a rise in fraud, and COVID-19 is no different.

Fraud 195

Fraud Trends Compliance Technology 195

Abrigo

MAY 10, 2021

An online loan application that allows the borrower to complete it at their convenience, either at home, the office, or even in the branch with financial institution staff assistance. This eliminates one of the most time-consuming aspects of a manual lending process and allows the financial institution to better track loan documents.

System 195

System Lending Analysis Software 195

PYMNTS

NOVEMBER 11, 2019

Governments are tightening know your customer (KYC) and anti-money laundering (AML) requirements on various industries out of increasing concern over fraud threats. The Bank of Thailand is exploring new KYC approaches, announcing plans to pilot online biometric KYC checks on customers seeking to open savings accounts.

Video 161

Video Fraud Compliance Security 161

Independent Banker

AUGUST 31, 2022

And as banking processes increasingly moved online, community bankers needed to fortify their online defenses against fraud and cybercrime. CBU also provides access to individual and bundled courses and webinars, including HAS/IRA basics, workplace compliance, the fintech landscape and more, many for CPE credits.

Community 91

Community Security Community Bank Fraud 91

Abrigo

DECEMBER 8, 2021

Should BSA/AML board training be in person or online? Remember, it is a regulatory requirement that each member is trained annually, so be sure to document and retain your attendee list. Set board expectations The board plays an integral role in creating a culture of compliance. Fraud Prevention. Fraud Trends.

Training 195

Training Resources Video Compliance 195

Insights on Business

OCTOBER 18, 2017

We helped banks go online, becoming always-on for their commercial and retail customers. Trades, payments, transfers, claim-filing could happen all over the world, at any time, online and on any device. We’ve seen two areas where Cognitive capabilities have proven critical: fraud detection and regulatory compliance.

Compliance 101

Compliance Fraud Regulation Technology 101

FICO

MARCH 1, 2022

Fiserv, a leading global provider of payments and financial services technology solutions, has developed a new fraud mitigation service that has reduced fraud losses, which were already low by industry standards, by 10 to 15% for its small to midsize credit union and bank clients. Keeping Up With The Fraudsters.

Fraud 52

Fraud Analytics Cards Tools 52

FICO

MARCH 3, 2021

Here are our observations on changing fraud patterns. A consequence of the economic downturn is the blurring of lines between fraud and risk. A review of how you define first-party fraud, treat suspicious behavior, and engage with customers is essential. Fraud detection strategies need to adapt, too. by Daniel Melo.

Fraud 52

Fraud Customer Experience Cards Trends 52

PYMNTS

JANUARY 29, 2020

Paper-heavy expense and payroll systems can obscure important compliance data, for example, or might otherwise complicate tracking if SMBs or their employees qualify for exemptions. Paper expense reports also leave SMBs vulnerable to fraud — intended or otherwise — from their employees, something they may not realize in time.

Taxes 141

Taxes Fraud Tools System 141

Gonzobanker

AUGUST 17, 2022

Plaid acquired ID verification and KYC/AML compliance platform Cognito Mitratech Holdings acquired compliance risk and vendor management solution Continuity Mitek acquired KYC onboarding and analysis solution HooYu Equifax acquired post-transaction fraud solution Midigator. Reg & Risk: Still Showing Up For Surprise Quizzes.

Fintech 182

Fintech Lending Software Compliance 182

PYMNTS

SEPTEMBER 6, 2019

Unscrupulous practices can tarnish a brand that acts as an online marketplace facilitator. Verifying Digital Identity In The Sharing Economy , PYMNTS examines how consumers use sharing economy platforms in their everyday lives and how those platforms are taking measures to defend against digital fraud and identity theft.

Security 125

Security Data Online Regulation 125

PYMNTS

DECEMBER 10, 2020

Banks and other FIs must be certain that their clients are who they claim to be and adhere to AML compliance — or be held accountable. . This method allows banks and merchants to verify customers through video interviews and biometric authentication, which are checked against physical documents. Reducing FI Onboarding Time, Costs .

Video 201

Video Digital Banking User Experience Tools 201

PYMNTS

SEPTEMBER 11, 2019

Fraudsters have been increasingly focused on mobile services, with one-third of all fraud attacks worldwide reportedly targeting mobile during the first half of 2018 — a 24 percent year-over-year increase. Fighting Fraud Visibly and Invisibly. So, how can consumers be persuaded to take a chance on these new companies?

Security 113

Security Fraud Mobile Cards 113

PYMNTS

JULY 1, 2019

This fraud protection method gives FIs greater agility when searching for fraudsters and boosts flexibility for consumers. Biometrics could potentially alleviate the need for physical identification documents in the face of more complex transactions like mortgages or loan applications, as well. Biometrics and the Future of Fraud.

Customer Experience 187

Customer Experience Tools Fraud Security 187

PYMNTS

SEPTEMBER 16, 2019

Congress — with an eye on documents that show the inner workings of Big Tech. In other news this past week, Google agreed to pay a $548 million fine in France to settle a fiscal fraud probe that stretches back four years. GDPR Compliance Lacking. Now the letters fly from the U.S. It is an investigation to determine the facts.

social media 122

social media Google Taxes Arkansas 122

PYMNTS

NOVEMBER 14, 2019

The onboarding process can pose major headaches for small businesses in an ecosystem where online and mobile banking are in demand, yet not always available at the caliber banking customers have come to expect. That’s despite the majority – 70 percent – that say they would prefer to open a deposit account online. ”

Digital Banking 147

Digital Banking Video Strategy Tools 147

PYMNTS

MARCH 29, 2019

She doesn’t know how to do this on her own, so she posts a job offer online. What looks like a simple process actually requires powerful tools to keep all parties safe from the online interactions and transactions that could go wrong. . You want to authenticate your users so you know who they are, and you want to stop fraud,” he said.

Security 101

Security Video Fraud Tools 101

PYMNTS

APRIL 30, 2018

The deadlines for compliance with new European data regulations are right around the corner, and the impact of these changes won’t be limited to the European Union. Multifactor authentication does introduce new frictions that could make purchasing goods online less desirable. SCA pulls in factors such as ownership (i.e.,

Fraud 138

Fraud Regulation Data Compliance 138

PYMNTS

MAY 15, 2018

Beyond the static password, there are a few methods that organizations have been implementing in recent years to try to stay ahead of the fraud problem. That leaves online identity verification: a marriage of biometrics, machine learning and human intelligence to verify the true physical identity of the person who is trying to transact.

Fraud 129

Fraud Training Security Compliance 129

PYMNTS

OCTOBER 21, 2019

Ensuring SCA compliance should be part of a larger effort to determine that a payments strategy is secure, cost-effective and satisfies user expectations for convenience and trust. The goal is for merchants to think about how they will manage the SCA transition, and to develop a fraud and exemption strategy. Friction So Far.

Strategy 100

Strategy Compliance Fraud Payments 100

BankBazaar

APRIL 27, 2020

Opening a bank account is nothing short of an ordeal-from running around gathering documents that date to your school to ensuring that they meet the individual bank’s guidelines in terms of the order, signatures etc.–it Additional Reading: How To Protect Your Money From Digital Banking Frauds. Find out more.

Guidelines 127

Guidelines Regulation Management Data 127

Abrigo

NOVEMBER 9, 2022

The Q1 2023 compliance date is near for smaller SEC-reporting financial institutions and private or not-for-profit banks and credit unions, and progress is decidedly mixed, according to the Abrigo 2022 CECL Survey. It can also reduce the time spent on documenting decisions and report writing. Fraud Prevention. keep me informed.

Survey 195

Survey Software Resources Meeting 195

PYMNTS

JANUARY 14, 2021

What's unique about the diamond space, however, is that there is an opportunity to drive value through the digitization of B2B commerce that goes beyond the electronification of documents or the streamlining of processes. For example, this industry is particularly susceptible to fraud and other supply chain risks.

Industry 204

Industry Strategy Retail Trends 204

PYMNTS

APRIL 23, 2019

Many betting operations are tempting targets for fraudsters and other bad actors, however – especially online operations that do not require face-to-face customer interaction. This means fantasy sports platforms must enact robust anti-money laundering (AML), KYC checks and other fraud monitoring services. A Data-First Approach .

Security 108

Security Puerto Rico Data Operations 108

Abrigo

MARCH 11, 2022

Thanks to an increase in mobile payments precipitated by the pandemic and rising security concerns due to the Russian conflict in Ukraine, the world of financial fraud prevention is more dynamic than ever. NBFIs that use artificial intelligence (AI) for online payment will need to show regulators that they are using best practices.

Regulation 195

Regulation cryptocurrency Policies Management 195

South State Correspondent

MAY 9, 2022

We all say the customer comes first, but our actions around innovation often put cost, compliance, or our present way of doing business first. At the micro-level, the SOS problem impacts small technology components such as how you handle document storage, e-signature, ID verification, authentication, encryption, or the movement of money.

Technology 195

Technology Customer Experience Data Training 195

PYMNTS

JULY 16, 2019

Platforms facilitating these transactions must foster trust between property owners and renters if they want to be successful, but creating that confidence requires protecting both parties against fraud and bad actors. Marketplace Abuse.

social media 145

social media Security Fraud Strategy 145

PYMNTS

MARCH 14, 2017

As banks and payments companies endeavor to meet anti-money laundering (AML) regulations to avoid hefty fines for non-compliance, easily identifying customers in the digital channel becomes paramount to their success. Some “old school” methods that worked in the past aren’t working anymore. Which is why, Clark said, it’s time for a change.

Meeting 111

Meeting Fraud Knowledge Base User Experience 111

FICO

MAY 7, 2020

Before COVID-19, a FICO survey of more than 5,000 consumers found that 89% of consumers would open some kind of financial account online, and 74% would open a mobile phone account online. This means that, at the online point of sale, you need to find out: Does the identity exist? passport or driver’s license).

Customer Experience 52

Customer Experience Guidelines Regulation Online 52