PYMNTS

JUNE 11, 2020

Social distancing restrictions implemented to curb the virus’s spread are preventing compliance professionals from obtaining physical identification documents and holding in-person meetings that typically enforced anti-money laundering/know your customer (AML/KYC) compliance. Compliance Enforcement Goes Remote With Biometrics.

Compliance 186

Compliance Guidelines Meeting Tools 186

Abrigo

NOVEMBER 2, 2021

Culture of compliance is crucial to BSA/AML programs Culture of compliance within the BSA/AML framework is not new and was first introduced by FinCEN in 2014. Takeaway 2 Poor culture of compliance will result in shortcomings in a financial institution's BSA/AML program. A strong culture of compliance is crucial.

Compliance 195

Compliance Regulation Resources Policies 195

PYMNTS

OCTOBER 6, 2020

Keeping customers' digital payment data safe and secure is a critical part of doing business in the digital economy, and following Payment Card Industry (PCI) compliance guidelines is an effective way for firms to accomplish this. Getting Up to Speed on Compliance. Sharing the Compliance Burden.

Compliance 178

Compliance Meeting Payments Cards 178

PYMNTS

SEPTEMBER 24, 2020

Reducing fees for remittances might push price points low enough that more consumers could resume sending money home, though, and some researchers believe that money transfer service providers could make such price adjustments if they are able to reduce their own expenses through more robust and cost-effective regulatory compliance measures. .

Compliance 223

Compliance Tools Fraud Regulation 223

Perficient

MARCH 30, 2023

Security Traditionally, information was said to be most secure when separated and segmented. However, the cloud’s structure makes data segmentation more complex and potentially more vulnerable if the correct security measures are not followed. For many, this means starting their journey using microservices.

Training 492

Training Security Data Regional 492

Perficient

MARCH 17, 2021

However, companies within certain industries may be more hesitant to incorporate a nearshore delivery model into their software development projects due to federal regulations around information and data security. Compliance Considerations. Security is the highest priority when searching for a nearshore partner.

Software 508

Software Regulation Industry United States 508

Abrigo

APRIL 6, 2022

New Rule Outlines Computer-Security Incident Notification Obligations for Banks Financial institutions and their service providers should prepare to meet new computer-security notice requirements by May 1, 2022. . Computer-security incident notifications required. Expand and Clarify.

Security 195

Security Regulation District of Columbia United States 195

PYMNTS

DECEMBER 16, 2019

Courtneidge discussed those challenges in a recent interview with PYMNTS, noting that as FinTech innovation continues to solve the biggest B2B payments friction points, service providers are tasked with simultaneously prioritizing compliance — two goals that don’t always go hand in hand. Mixing Innovation With Compliance.

User Experience 204

User Experience Compliance Payments Fraud 204

PYMNTS

NOVEMBER 27, 2020

Compliance with financial regulations market-to-market around the globe is increasingly automated yet relies on the same human emotion that undergirds all forms of exchange: trust. One recent survey, for example, showed that 32 percent of consumers in the U.K. Here again, trust is the heart of the matter.

Compliance 198

Compliance Regulation Payments Study 198

PYMNTS

SEPTEMBER 10, 2019

The September AML/KYC Tracker examines the latest fraud challenges and efforts to ensure tight security and compliance. . Collaborations can help ease the challenges of compliance for companies seeking to keep their conduct above board. How Mobile Financial Startups Can Bridge the Security Gap.

Security 185

Security Fintech Fraud Compliance 185

PYMNTS

JULY 1, 2020

The Office of the Comptroller of the Currency (OCC) said in a report this week that it will examine how the coronavirus is impacting compliance by financial institutions (FIs). Additional steps may be necessary to properly segment and secure bank networks if employees use personal devices to connect to bank systems,” the OCC wrote.

Compliance 166

Compliance National Fraud Operations 166

PYMNTS

SEPTEMBER 24, 2020

Staying abreast of these various compliance shifts can be costly and challenging for banks, but doing so is necessary to ensure that financial institutions’ (FIs) operations can run smoothly and ward off cyberattacks. Compliance, Cybercrime And The Cloud . Failing to secure such information could open up FIs to fraud.

Compliance 151

Compliance Fraud Regulation Security 151

Perficient

JUNE 1, 2022

All broker-dealers who are FINRA member firms have an obligation to report transactions in TRACE-eligible securities under an SEC-approved set of rules. TRACE time reporting requirements have numerous intricacies based on the security, the issuance status of the security, and the time of day reporting occurs.

Report 294

Report Security Regulation System 294

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 222

Training Compliance Fraud Policies 222

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech in banking and finance. What is regtech?

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech for banks to enhance their processes. What is regtech?

Technology 195

Technology Fraud Compliance Regulation 195

PYMNTS

SEPTEMBER 6, 2018

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. Plugging In To Plugins.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

PYMNTS

MARCH 24, 2017

An example is that cross-border wires were among those payment conduits most closely examined due to higher risk. This leads, for example, to the processing of payments across one hub and catching activity in one database and applying uniform business rules. CGI looks to their sandbox capabilities for these real-time validations.

Compliance 157

Compliance Fraud Regional Examples 157

PYMNTS

JUNE 5, 2020

Partnering with FinTechs that have lax security creates very real issues: Criminals could abuse open banking-powered payment apps to launder money, for example, or take over accounts and steal victims’ funds. The federal entity is charged with monitoring the U.S. Even if your products are not covered per FinCEN in the U.S.,

Security 174

Security Fintech Data Fraud 174

Perficient

JANUARY 13, 2021

Exterro is a leading software platform focusing on an area known as Legal GRC (Legal Governance, Risk, and Compliance). Exterro’s software is developed “by lawyers, for lawyers” and is a fully SaaS & a secure cloud native product that helps clients using older e-discovery tools to easily adopt cloud native software.

Software 309

Software Compliance Tools Examples 309

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 195

Training Compliance Fraud Policies 195

Perficient

FEBRUARY 22, 2023

An example is the know your customer (KYC) process in which intelligence agents can sense an event using natural language processing (NLP), machine learning (ML), robotic process automation (RPA)/digital process automation (DPA), query data, proactively make a decision, and act without approval while continuing to learn and improve.

Trends 474

Trends North Carolina Customer Experience Charlotte 474

Perficient

SEPTEMBER 16, 2022

Legal status – There is some question regarding the legal status of many crypto-assets – is it a security, is it fungible, is it a derivative – as well as the very limited legal precedent regarding how crypto-assets would be treated in varying contexts, including, for example, in bankruptcy court. The Home Owners’ Loan Act. Legal risk.

Compliance 275

Compliance Risk Management System Regulation 275

PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. One recent example of a response to the proliferation was the inclusion of a long-fought anti-money laundering (AML) provision within the recently passed defense spending bill in the U.S. “So Complex Compliance.

Fraud 270

Fraud Compliance cryptocurrency Security 270

PYMNTS

JUNE 4, 2020

The share of B2B transactions conducted via check has fallen 50 percent since 2004 and hit an all-time low of 42 percent last September, for example. Ensuring such payments are secure from bad actors is a priority for the banks that process them. API security. Benefits Of APIs .

Security 151

Security Fraud Payments Compliance 151

PYMNTS

OCTOBER 5, 2020

Retailers must protect customers’ card data from hackers who try to snatch payment details, and following best practices to ensure security requires adhering to the regulations established by the PCI SSC, a global payments industry forum. Compliance Complexities. Orchestrating A Solution.

Cards 207

Cards Data Compliance Payments 207

BankInovation

DECEMBER 13, 2022

To fight the threat and help maintain compliance, several banks have turned to bots and robotic process automation (RPA). Ally Financial, for example, has partnered with […]. Financial fraud is big business for cybercriminals, with the Federal Trade Commission (FTC) estimating that $5.8

Compliance 52

Compliance Fraud Examples Security 52

Perficient

JUNE 16, 2020

With the number of tech-savvy patients increasing, it is becoming a requirement to provide easy accessibility while maintaining top security. Google technologies allow you to focus on patient care by seamlessly and securely guiding patients through the process of relevant information gathering and connecting virtually.

Google 322

Google Colorado Data Compliance 322

PYMNTS

SEPTEMBER 11, 2019

Nicolas Dinh , chief operating officer of year-old Canadian financial startup STACK , recently spoke with PYMNTS about the key forms of fraud that nascent mobile financial services firms face and how companies can leverage security technologies and partnerships to gain customers’ trust. Partnering With Established Players.

Security 113

Security Fraud Mobile Cards 113

Perficient

JUNE 27, 2022

Committee on Uniform Securities Identification Procedures (CUSIP) number , or if a CUSIP number is unavailable at the time of execution, a similar numeric identifier. Examples include a mortgage pool number or a FINRA symbol. If the security is traded TBA, the report should include the original face value of such security.

Report 275

Report Security Compliance System 275

PYMNTS

APRIL 7, 2017

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. She noted that WePay exists “behind the scenes.…

Compliance 100

Compliance social media User Experience Fraud 100

Perficient

MARCH 8, 2021

The other day a question came up on what extra due diligence do we need to do as we adhere to HIPAA compliance requirements. Let me discuss three examples of how you can create a better consumer experience while still taking HIPAA into account: Register for a patient portal. Struggling to Meld HIPAA Compliance and Great Experiences?

Compliance 410

Compliance Course Examples Online 410

PYMNTS

NOVEMBER 8, 2019

The rule officially took effect in September, and EU countries have begun helping merchants and consumers work toward compliance. PSPs must, therefore, strike the right balance between authentication and seamlessness, while keeping up with how different European countries are tackling SCA compliance. Ireland and the U.K.

Compliance 101

Compliance Online Fraud Regulation 101

PYMNTS

APRIL 18, 2017

Banks and financial institutions spend billions of dollars to ensure they are meeting compliance requirements and properly managing risks. For this reason, ComplyAdvantage is out to disrupt the market by delivering on solutions that does more than just check the compliance box. Filling The Compliance Gap.

Compliance 111

Compliance Data Austin Management 111

PYMNTS

OCTOBER 13, 2016

Regulation and compliance can be a tough space for many to wrap their heads around. As technology advances, the threat to digital security and identity protection becomes greater, forcing regulations to quickly adapt. Compliance Decoded. Why Compliance Is Going Social.

Compliance 100

Compliance blockchain Regulation Data 100

Insights on Business

NOVEMBER 12, 2018

Today, governance, risk and compliance (GRC) is being transformed by not only rapidly-evolving regulatory standards and growing costs of non-compliance, but also by the clear and present need for greater GRC adoption/engagement – by the first line of defense – while delivering added value by empowering business users.

Compliance 107

Compliance Technology User Experience Analytics 107

Insights on Business

FEBRUARY 27, 2018

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. “Meaning, [regtech] is a teammate.

Compliance 98

Compliance Risk Management Management Regulation 98