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 221

Training Compliance Fraud Policies 221

Abrigo

FEBRUARY 5, 2021

You might also like this webinar: "Detecting PPP Fraud: Optimizing Your AML Solution". Takeaway 1 To prevent the kind of fraud that plagued the Paycheck Protection Program in 2020, the SBA has put new measures in place that have created challenges. PPP fraud-prevention challenges arise. New Guidance Out.

Fraud 195

Fraud Lending Taxes Regulation 195

PYMNTS

APRIL 8, 2020

And even as financial institutions began to smooth out the process, the initiative hit another snag Monday when reports emerged that the SBA’s computer systems had crashed. With a focus on compliance, Wolters Kluwer revealed its new solution to enable financial institutions issue PPP loans to small businesses. Funding Circle.

Lending 245

Lending Fintech America Technology 245

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

Abrigo

NOVEMBER 15, 2019

Key Takeaways Effective credit risk review promotes lending agility. Many of the objectives of a credit risk review system support business goals. Regulators consider an effective loan review system vital for financial institutions’ efforts to meet safety and soundness standards. Identify problem loans early. learn more.

System 150

System Lending Compliance Risk Management 150

Abrigo

AUGUST 22, 2022

Emerging Check Fraud Trends to be Aware of It seems check fraud will never go away, it just changes its approach every opportunity. You might also like this webinar, "Balancing compliance risk & reward with high-risk businesses." Check Fraud. Still the number one type of fraud in banking.

Fraud 195

Fraud Trends Survey Technology 195

Abrigo

MAY 19, 2023

Introduction A few good men and women In previous articles, we have explored the objectives of a loan review and credit risk review system in general. Let’s move on to another element of credit review systems—loan reviewer training. But what if the minimum expectations are set so high that it discourages wannabe loan reviewers?

Training 195

Training Lending Risk Management Guidelines 195

Abrigo

AUGUST 27, 2020

Additionally, FinCEN has released three recent COVID-19 related fraud advisories and red flags, and a regulatory joint statement regarding customer due diligence on Politically Exposed Persons (PEPs). Lending & Credit Risk. Loan Origination System. Member Business Lending. SBA Lending. Fraud Prevention.

Regulation 195

Regulation Fraud Compliance Lending 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

CFPB Monitor

JUNE 30, 2022

Of special note, the OCC also believes compliance risk is “heightened” for Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) compliance because of world events and compliance staffing concerns. BSA/AML Compliance Risks. Cybersecurity Risks.

Compliance 78

Compliance Fraud Technology Operations 78

Gonzobanker

AUGUST 17, 2022

Lending Tech With Almost Steady Grades (Even With Rough Semesters). Mortgage services provider ICE acquired mortgage services provider Black Knight bringing together the two largest providers in the space.

Fintech 195

Fintech Lending Software Compliance 195

Abrigo

DECEMBER 2, 2021

In a competitive lending environment, many banks and credit unions are concerned about losing good-quality loans if they over-price them. During the pandemic, fraud activity has increased, and fraudsters have found new ways to scam bank customers and credit union members. Fraud Prevention. Lending & Credit Risk.

Conference 195

Conference San Antonio Lending Fraud 195

Abrigo

MAY 24, 2023

Without full access to the banking and payments system, legal cannabis businesses are forced to operate in the shadows,” said Sen. “There is nothing like a cash economy to facilitate money laundering,” Senator Jeff Merkley testified before a committee hearing on the SAFE Banking Act. Sherrod Brown, D-Ohio, in the same hearing.

Lending 195

Lending Fraud Operations Ohio 195

PYMNTS

NOVEMBER 5, 2019

Instant Payment Challenges In Online Lending. Borrowers face two key stages in the lending process: getting approval for their loans and receiving the funds. The collaboration leverages the latter’s infrastructure to authenticate applicants within 10 minutes, eliminating many common lending process frustrations.

Lending 102

Lending Payments Security Fintech 102

FICO

DECEMBER 1, 2020

I’m delighted to announce that FICO has been named as the Category Leader for Financial Crime - Enterprise Fraud in the recently published 2021 Chartis RiskTech 100. It discusses the need to deploy effective enterprise-wide solutions for fraud and financial crime management that can adapt to changing customer behaviour.

Fraud 59

Fraud Risk Management Analytics Management 59

Abrigo

OCTOBER 19, 2020

The Bank Secrecy Act (BSA) was passed by Congress in 1970 in an effort to better protect the United States financial system from money laundering and financing of criminal activities. For the past 50 years, BSA and AML professionals have been working tirelessly to protect our financial system around the clock. Fraud Prevention.

National 195

National United States Fraud Resources 195

Abrigo

DECEMBER 30, 2019

Institutions must create a strong culture of compliance. Creating a Culture of Compliance. One of the more important takeaways from 2019 is that all institutions, regardless of size or risk profile, must have a strong culture of compliance, as directed by FinCEN’s advisory in 2014. Looking back to strengthen your BSA program.

Training 195

Training Compliance Leadership Fraud 195

Abrigo

JUNE 5, 2023

This report requires (and therefore improves) communication between the credit and lending area of the bank or credit union and those responsible for liquidity management. Visualizing the institution’s lending footprint can lead to improved targeting of growth areas.

Report 195

Report Risk Management Capital Data 195

PYMNTS

JUNE 27, 2017

In this week’s Commander in Chief series, PYMNTS talks with mobile capture and identity verification company Mitek Systems ’ CEO James DeBello about what moves the ball for the mobile industry. The fast-growing rates of fraud is another topic that sometimes keeps me up. He also offers advice for how to innovate in the field.

Innovation 145

Innovation System Mobile Trends 145

Abrigo

APRIL 6, 2022

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. The new requirements become effective on April 1, 2022, but compliance is not required until May 1, 2022. Fraud Prevention. Fraud Prevention.

Security 195

Security Regulation District of Columbia United States 195

Independent Banker

SEPTEMBER 25, 2014

This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. As David Barr, spokesperson for the FDIC, points out, “a vast majority of community banks remain well-rated and exhibit satisfactory corporate governance programs and compliance management systems.”.

Compliance 101

Compliance Regulation Community Bank Community 101

Abrigo

JULY 14, 2023

For example, your top goal for next year might be to expand your lending geographic footprint. Obviously, these two goals are interrelated – without excess liquidity, the institution will need to provide additional funding to meet the target to expand the lending footprint. Learn more about Abrigo Connect.

Strategy 195

Strategy Data Analytics Analysis 195

Abrigo

APRIL 7, 2022

Not only are there in-house factors to consider, such as staffing proficiency, gaps in expertise, and niche markets to learn about, but if the institutions have dissimilar outlooks on security and compliance culture or widely different loan policies , due diligence requires you to assess potential concerns. Proactive Planning. Get organized.

Compliance 195

Compliance Policies Fraud Analysis 195

Abrigo

OCTOBER 26, 2020

We want BSA/AML professionals to know how much we appreciate the work they do to fight financial crime and stop illicit funds from entering our financial system. From all of us at Abrigo, thank you for everything you do to protect our financial system. Fraud Prevention. Fraud Trends. SBA Lending. learn more.

Fraud 195

Fraud System US Compliance 195

PYMNTS

NOVEMBER 2, 2018

As legal cannabis spreads, the industry is a big opportunity for FinTech, as industry players struggle to manage intense compliance requirements and limited access to traditional financial services. based B2B software-as-a-service and data solutions provider focusing on supporting corporates’ compliance and anti-fraud efforts.

Fintech 188

Fintech Capital Security Fraud 188

Abrigo

OCTOBER 14, 2022

Financial institutions should have an LOS system in place or other means to cover this new reporting task before the compliance date arrives. Lending & Credit Risk. Fraud Prevention. Lending & Credit Risk. Construction Lending. CRE Lending. Lending & Credit Risk. Watch Webinar.

Risk Management 195

Risk Management Management Policies Lending 195

PYMNTS

APRIL 3, 2019

Cybersecurity is more important than ever for credit unions (CUs), but keeping up with compliance and the latest best practices can be a challenge. Meanwhile, the customer-is-always-right philosophies can make staff too accommodating — to the extent of possibly overlooking signs of fraud. Rollick Inc. ,

Wisconsin 116

Wisconsin Lending Georgia Resources 116

Abrigo

APRIL 12, 2021

What an LOS Is, and How It Benefits CFIs A loan origination system automates and manages the lending process to address common challenges. You might also like this report on commercial loan automation systems DOWNLOAD. Takeaway 1 The lending landscape is increasingly competitive and the process is frustrating.

System 338

System Lending Software Analysis 338

Jeff For Banks

APRIL 4, 2024

Such as direct lending funds, and insurance companies. Shadow bank lending is similar to bank lending but is not subject to the same regulations, and compensating deposit balace requirements. And, according to some EDP students that are lenders, are turning to the shadow banking market that do not have deposit demands.

Banking Trends 115

Banking Trends Trends Millennials Oregon 115

FICO

JUNE 20, 2019

Fraud is a serious concern for the communications industry, with proceeds and services used by organised crime and terrorist networks. Of this, over $7 billion is attributed to subscription fraud and account takeover. Defining Subscription Fraud. A ‘convergence’ of fraud. First-Party Subscription Fraud.

Fraud 40

Fraud Resources Industry Mobile 40

FICO

JUNE 20, 2019

Fraud is a serious concern for the communications industry, with proceeds and services used by organised crime and terrorist networks. Of this, over $7 billion is attributed to subscription fraud and account takeover. Defining Subscription Fraud. A ‘convergence’ of fraud. First-Party Subscription Fraud.

Fraud 40

Fraud Resources Industry Mobile 40

FICO

MARCH 27, 2017

Four years ago, we at FICO started saying it’s time for banks to upgrade fraud protection in their retail banking departments. Increasing the rate, pace and volume of these payment types, which exit the customer’s checking account directly, will quickly strain banks’ compliance organizations and processes. ACH is a different animal.

Fraud 40

Fraud Compliance Cards Payments 40

Insights on Business

OCTOBER 10, 2017

Here is a preview of our focus at this year’s Sibos: Enterprise blockchain – IBM is leading the advancement of blockchain with many projects under way in financial services including foreign exchange payments netting , private equity administration , securities lending and trade finance.

blockchain 87

blockchain Customer Experience Compliance Fraud 87

PYMNTS

SEPTEMBER 15, 2017

Of course, banks have to be run with safety and soundness to protect those deposits, but they also have myriad public mandates, like fair lending, anti-money laundering and customer privacy. A Broken System. That means the system [is] not … relevant to a growing part of our country.

Fintech 198

Fintech System Lending Cards 198

Abrigo

NOVEMBER 22, 2021

Consumer Lending Laws & Compliance Financial institutions offering consumer loans need to know about these major consumer lending laws and recent compliance issues. You might also like this webinar, "Consumer Lending 101.". Consumer lending compliance spotlight. Pandemic Issues.

Compliance 195

Compliance Lending Risk Management Regulation 195

Independent Banker

JULY 29, 2016

ICBA Mortgage® program provides community banks with access to various mortgage lending products and services, including secondary-market service companies. which provides compliance management software, is one of 30 companies to serve community banks as Preferred Service Providers. Farmer Mac — agricultural lending.

Community Bank 70

Community Bank Community Compliance Lending 70

Abrigo

JULY 16, 2021

financial system. financial system. Community financial institutions have more frequently become targets of these illicit transactions, as larger banks commonly have more sophisticated monitoring systems for detecting and reporting suspicious activity. financial system.

Community 195

Community Regulation Training Policies 195