Abrigo

MAY 20, 2022

Fraud on Alert for 2022 A review of SAR data , government agenc y releases, a nd fraud findings found these f raud c oncerns and trends to wat ch in 2022. Takeaway 1 An Abrigo review of SAR data, government agency releases, and fraud findings revealed fraud trends to watch for. Fraud Concerns. Starting Point.

Trends 195

Trends Fraud Training Survey 195

Abrigo

JULY 10, 2023

Stay up-to-date on AI fraud trends to protect your clientele Emerging AI fraud schemes reveal holes in financial institution's defenses. Takeaway 2 Improving security questions is a good step to take to avoid text-to-speech AI fraud schemes. Here are several suggestions for tightening security.

Fraud 150

Fraud How To social media Security 150

Abrigo

MAY 20, 2022

Meet Model Risk Management Expectations Updates to the FDIC Risk Management Manual should steer institutions toward a model that manages risk and drives growth. Takeaway 1 Aside from meeting examiner expectations, proper model risk management can protect your institution from unnecessary risk. . FDIC Update.

Risk Management 195

Risk Management Management FDIC Meeting 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 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

JANUARY 24, 2019

With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes. Automated risk management solutions can be helpful in theory.

Compliance 191

Compliance Risk Management Training Analysis 191

Abrigo

DECEMBER 5, 2023

AML Compliance Ten qualities of a successful BSA officer Hiring a Bank Secrecy Act (BSA) Officer for a financial institution involves looking for a unique experience level and skillset that ensures compliance with the BSA and related regulations. This includes training staff on BSA/AML policies and fostering a culture of compliance.

Training 221

Training Compliance Regulation Software 221

Abrigo

AUGUST 31, 2023

Teaching staff these KYC tips to make clients feel more comfortable In 2023, KYC procedures must both support CDD compliance and make sure your institution is a welcoming place for all customers. When customers have no legally issued ID, alternative know-your-customer policies are indispensable. However, 16% of Americans do not drive.

Compliance 195

Compliance Community Training System 195

Abrigo

OCTOBER 14, 2022

Fortify your credit risk management framework How to prepare your organization for scrutiny of its credit risk management practices during your next exam or review. . You might also like this whitepaper, "Stress Testing: Managing Capital Levels and Credit Risk." So how can banks help customers keep up in uncertain markets?

Risk Management 195

Risk Management Management Policies Lending 195

Abrigo

AUGUST 7, 2023

Assessing and preparing for staffing needs AML and fraud compliance is an essential obligation for financial institutions. Safeguarding the integrity and effectiveness of a financial institution’s anti-money laundering (AML) program is paramount to ensuring regulatory compliance and detecting illicit activity.

Training 195

Training Fraud Leadership Resources 195

Abrigo

JUNE 13, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation and fraud continue to rise as the baby boomer generation ages. Takeaway 3 Education and reporting are key to preventing this type of fraud, so know your state's policies. .

Fraud 195

Fraud Training United States Survey 195

Abrigo

MARCH 21, 2023

You might also like this video on managing interest rate risk. Takeaway 3 Diving deeper into depositor pricing and evaluating loan pricing to ensure compensation for the risk are among strategies to manage interest rate risk. Stay up to date with Abrigo advisors' ideas for managing interest rate risk.

Risk Management 195

Risk Management Management Strategy Lending 195

FICO

JUNE 23, 2022

The Role of Data in Managing Fraud and Financial Crime Today. Here are the highlights from the fraud management data discussion I had at FICO World 2022 with Julie Conroy, Head of Risk Insights and Advisory at Aite-Novarica Group. How Did the Pandemic Change Fraud? Tue, 07/02/2019 - 02:45. by TJ Horan.

Fraud 52

Fraud Management Data Compliance 52

FICO

JANUARY 25, 2021

Customer identity management is a term that is subject to a number of definitions. The goal of CIM is to meet regulatory rules and legislation, prevent fraud and financial crime, and manage risk—all while making it simple for customers to transact. Customer identity management operates today in an unpredictable environment.

Management 98

Management Fraud Customer Experience Compliance 98

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

FEBRUARY 8, 2018

Being a program manager isn’t easy. If it’s not holding money or providing a payment network, the program manager does it: AML (anti-money laundering) compliance, KYC (Know Your Customer), fraud mitigation, marketing, privacy, document review, OFAC compliance, reporting and more. Again: It isn’t easy.

Management 167

Management Compliance Maine Policies 167

Independent Banker

DECEMBER 31, 2022

From new fee practices to peer-to-peer fraud, keep an eye on what regulatory changes could be developing in the new year. The FDIC issued guidance about the consumer compliance risks associated with assessing NSF arising from the re-presentment of the same unpaid transaction. Peer-to-peer fraud. By Mary Thorson Wright.

Compliance 100

Compliance FDIC Community Bank Community 100

Abrigo

MAY 9, 2022

Best Practices for Third-Party BSA/AML Assistance Collaborating with a third-party BSA/AML vendor can save time and money when it comes to sanctions compliance. The COVID-19 pandemic has substantially increased the need for fraud detection across the country, with hard dollar losses keeping financial organizations on their toes.

Compliance 195

Compliance Fraud Regulation Resources 195

PYMNTS

JANUARY 10, 2018

Oversight Systems has updated its Insights On Demand software-as-a-service (SaaS) solutions to provide managers with quicker ways to identify expense report fraud. businesses lose $1 billion every year due to employee expense fraud. In an announcement on Tuesday (Jan. Oversight cited data from JPMorgan, which estimated U.S.

Fraud 100

Fraud Tools Policies Risk Management 100

Abrigo

APRIL 7, 2022

Takeaway 3 Short-term benefits are alluring, but a merger or acquisition is a long-term investment that requires careful management. In a perfect merger, both banks are compliant, risk-based, and consistent with each other’s policies and procedures. Consolidation Trends. Mergers & acquisitions are on the rise. A Good Match?

Compliance 195

Compliance Policies Fraud Analysis 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

Insights on Business

MAY 6, 2019

Payment fraud detection has always had a bit more latitude than its counterparts in anti-money laundering, customer due diligence and even trade surveillance compliance. It is obviously in the best interest of an institution, and its customers, to catch as much fraud as possible. Why does model governance matter for fraud?

Fraud 102

Fraud Regulation Compliance Analytics 102

Abrigo

DECEMBER 17, 2021

Takeaway 1 Strengthen your financial institution's culture of compliance through a staffing assessment. Adequate staffing is crucial for areas with high regulatory scrutiny , such as the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) and fraud functions. Would you like other articles like this in your inbox? Be Prepared.

Compliance 195

Compliance Training Fraud Resources 195

Insights on Business

AUGUST 22, 2018

Whether the change is additional regulations or a rollback of existing regulations (which we are seeing in the US), the impact on financial institutions and their legal and compliance professionals is significant. Given these issues, it is critical that governance, risk and compliance (GRC) systems are leveraged to enhance this process.

Compliance 79

Compliance Innovation Technology Policies 79

Abrigo

JUNE 2, 2021

The following six areas are critical when developing your exam planning: BSA/OFAC Policy integration. Are procedures in line with BSA Policy requirements? Does it include or have a separate OFAC Policy? Does it address a “culture of compliance”? Culture of compliance. Clearly defined procedures. Calibration.

How To 195

How To Training Compliance Policies 195

PYMNTS

NOVEMBER 10, 2017

For any organization with an attitude of, “It can’t happen to me,” here’s a wakeup call: Corporate fraud is common and on the rise. One of the easiest areas for internal fraud to occur is in employee expensing. One of the easiest areas for internal fraud to occur is in employee expensing.

Fraud 112

Fraud Compliance Policies Technology 112

FICO

MAY 19, 2020

History tells us that things like natural disasters, times of economic instability, and fears of recession or unemployment provide the perfect environment for increased fraud and financial crime. So, I thought I would outline my top 5 fraud manager considerations during COVID-19.

Fraud 52

Fraud Management Handbook Cards 52

PYMNTS

SEPTEMBER 28, 2020

This requires buyers to abide by various know your customer (KYC), anti-money laundering (AML) and other anti-financial crime policies to ensure vendors are not involved in illicit activities or on sanctions lists — all of which entails collecting and verifying vendor details. Digital Fixes. One survey that polled 1,040 U.S.

Data 166

Data Management Taxes Meeting 166

Abrigo

AUGUST 4, 2021

Survey: Top Challenges and Trends for BSA/AML Professionals Abrigo's 2021 FinCrime survey benchmarks obstacles and trends for BSA/AML and fraud professionals. Takeaway 1 Managing false positives and keeping up-to-date on regulatory changes continue to be a challenge for financial institutions. Register for the webinar: Register Now.

Fraud 195

Fraud cryptocurrency Survey Trends 195

Abrigo

MAY 19, 2023

The scope and depth of loan review Loan review requires a "renaissance banker" Loan review policies are typically reviewed and approved at least annually by the board of directors. Policy guidelines usually include a written description of the overall credit grading process and establish responsibilities for the various loan review functions.

Training 195

Training Lending Risk Management Guidelines 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

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. This is a must-have risk management concept.

Training 195

Training Compliance Leadership Fraud 195

Abrigo

MARCH 7, 2022

Takeaway 2 Planning ahead and informing management of expected changes will help financial institutions adapt to anticipated rules and guidance. Office of Foreign Assets Control (OFAC) compliance should be a high focus as sanctions become more complex and require constant diligence. 2022 Regulatory Focus. 2022 Regulatory Focus.

cryptocurrency 195

cryptocurrency Regulation Fraud Policies 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

PYMNTS

AUGUST 24, 2016

Exaggerated claims on expense reports are challenging businesses’ ability to manage employee spend — and their own. The data also highlights how both employees and their managers are to blame for inaccuracies and fraud. The data also found their managers are in on the issue. Enterprise Chris Baker in a statement.

Management 100

Management Report Fraud Analysis 100

PYMNTS

FEBRUARY 27, 2018

That certainly presents problems for spend management, according to research from the Global Business Travel Association (GBTA) Foundation, which found last year that non-corporate payment methods like cash and personal cards are limiting businesses’ access to transparency travel spend. Business spend on travel reached $1.15

Fraud 104

Fraud Marketing Payments Analysis 104

Abrigo

MARCH 24, 2023

Step two Identify inherent risk vs. residual risk Inherent risk is any activity or factor posed to the credit union, notwithstanding applying any management or risk mitigation tools. After adjusting the inherent risk for the credit union’s risk management controls, residual risk represents the bank or credit union’s current risk.

Fraud 195

Fraud Compliance Examples Analysis 195