FICO

NOVEMBER 15, 2021

This week is International Fraud Awareness Week — but every week is Fraud Awareness Week for FICO, as we focus on helping banks and other financial institutions worldwide detect and manage fraud. Fraud is a big burden for such organizations but there are of course other victims – people just like you and me.

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PYMNTS

MARCH 17, 2020

As more firms worldwide push for workers to hunker down from home in order to fend off the spread of the coronavirus , people are advised to be vigilant of online fraudsters, according to Compliance Week. study by epidemiologists forecasts that the coronavirus will cripple the availability of intensive care hospital beds.

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PYMNTS

JULY 3, 2018

As startups such as DadeSystems , FitPay and Jewel Paymentech expand across devices and functions, Tipalti , AvidXchange and Emailage announce new growth for their local, national and global footprints. Ahead of its global expansion, Tipalti conducted a study to find out. Here’s all the latest news from startup-land this month.

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CFPB Monitor

JULY 6, 2021

The Priorities have been much-anticipated because, under the AML Act, regulators will review and examine financial institutions in part according to how their AML/CFT compliance programs incorporate and further the Priorities, “as appropriate.”. A prime example of this problem is the inclusion of “fraud” as a Priority.

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PYMNTS

DECEMBER 14, 2018

News came earlier in the month that several federal agencies have come out — together — in support of banks embracing innovation in their compliance efforts. Banks will not be penalized if they do not embrace new ways of battling fraud with new tech — meaning they can still adhere to the status quo.

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PYMNTS

DECEMBER 11, 2020

As the new Digital Identity Tracker® states, “about 40 million bank customers in Thailand are expected to register for digital identity authentication under the country’s National Digital ID (NDID) program, which was recently expanded to more financial service providers.

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FICO

MARCH 17, 2021

In this two-part series, I will explore some recent studies on TBML, the challenges faced in countering the problem and some industry trends. Two recent studies have provided a more in-depth analysis of the problem. This study, together with the U.S. Efforts to Combat Trade-Based Money Laundering”. As the U.S.

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Abrigo

MARCH 24, 2021

Opening the year with a bang, on January 1, 2021, the Anti-Money Laundering Act of 2020 (AMLA) became law as part of the National Defense Authorization Act. These include conducting studies, writing regulations, and publishing guidance. BSA Compliance Training – Guide for Successful BSA/AML Programs. Learn More. Whitepaper.

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Banking 2020

AUGUST 27, 2015

The US has been identified as the leading country for card fraud, after a new study revealed almost half of global losses to the crime last year occurred in the nation. In the US, fraud losses equated to 12.75c for every $100 spent in 2014. This is according to The Nilson Report, which found 48.2 A total of $16.31

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Abrigo

AUGUST 22, 2019

Ongoing training is at the very heart of a satisfactory Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program in financial institutions. These are usually less expensive, shorter, and involve less extensive travel than the larger national conferences. Fraud Prevention. between September and January. Learn More.

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PYMNTS

FEBRUARY 28, 2019

The digital platform provides hiring, training, compliance management and payroll solutions to its clients, and is geared toward the facilities management, private security and logistics industries, to name a few. To read the Case Study, download the Playbook. Further east, Airbnb is taking off in South Korea, with a reported 2.9

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PYMNTS

OCTOBER 19, 2020

Banks are typically required to establish direct links with financial institutions (FIs) in other nations to make or receive cross-border payments. The following Deep Dive explores cross-border payments’ challenges, including time-consuming government inspections, lack of transparency and the potential for fraud.

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PYMNTS

SEPTEMBER 30, 2020

MENA nations’ original rules involved data privacy, but they were focused on developing the open banking ecosystem and allowing information to move freely. Cybersecurity and data privacy have always been critical facets of open banking regulations as fraud tends to increase alongside growing online transaction volumes.

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FICO

JULY 23, 2020

Europe and the USA are the two regions of the world hardest hit by financial crime compliance costs. With the projected total cost of financial crime compliance across the global finance sector estimated to be $180.9

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Independent Banker

SEPTEMBER 21, 2015

ICBA’s in-depth certification programs vault compliance officers to the highest standards. imberly Anderson, senior vice president and chief administrative officer of Cañon National Bank in southern Colorado, became her community bank’s loan compliance officer in 2003. By Ed Avis.

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Abrigo

JUNE 4, 2023

The consequences of noncompliance While pulling back on AML compliance spending is tempting, it is especially important today that financial institutions have a robust AML program. Takeaway 2 Recent cases have shown that now is not the time to let up the gas on AML compliance. BSA enforcement actions are on the rise. When the U.S.

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Independent Banker

OCTOBER 1, 2022

But as the prevalence of security breaches grows, so do the opportunities for community banks to position themselves as guardians of their customers’ personal data through compliance, technology and relationship building. Monitor credit reports and bank account activity to timely identify and prevent fraud and identity theft.

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FICO

MAY 19, 2021

What Is First-Party Fraud? From banks to telcos to debt collection agencies, what looks like unrecoverable bad debt may in fact be first-party fraud. For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. by Matt Cox.

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NCR

AUGUST 18, 2017

A study by Business Insider Intelligence found that the most common reasons that financial services firms in the EMEA region are investing in blockchain is to create new business models or launch startups. Forecasts about medium-term cost savings of key operations are promising. The hurdles to be overcome.

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PYMNTS

DECEMBER 8, 2020

A study found that more than 56 percent of cryptocurrency exchanges have weak or nonexistent KYC systems which are not effective at preventing money laundering. Some exchanges even deliberately avoid having KYC systems by obfuscating their country of origin to make it harder for regulators to impose national compliance guidelines.

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FICO

MAY 19, 2021

For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. Perhaps surprisingly, consumers sometimes use their own personal information to commit fraud. Both of these crimes are first-party fraud.

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FICO

OCTOBER 7, 2022

Buy Now, Pay Later: BNPL Fraud and Regulatory Update. Buy now, pay later or BNPL financing is experiencing tremendous growth, but that growth can bring potential growing pains like fraud and regulatory scrutiny. As payments professionals well know, change creates opportunities for fraud. Meanwhile … BNPL Fraud Is on the Rise.

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FICO

JUNE 21, 2021

In a year that presented fraudsters with new opportunities to exploit consumers, UK financial institutions continued to lead the charge to reduce European card fraud. However, other nations did not fare as well. Source: FICO European Fraud Map. . UK Led European Fraud Reduction. UK Led European Fraud Reduction.

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FICO

MAY 8, 2020

In most nations, people were likely to digitally open bank accounts (such as UK current accounts, US checking accounts, or national equivalents) or credit card accounts. This study shows that most people are pre-disposed to embrace it. Taking out personal loans digitally was also popular. Conclusion.

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Abrigo

JULY 17, 2019

Cybercrime is on the rise within financial institutions and other businesses and continues to be at the forefront of the minds of those in the fraud prevention field. Although not all of the following types of fraud are fully internet-based, the IC3 statistics represent the cybercrime side of these crimes.

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South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. Unfortunately, most banks don’t gather fraud data across payment channels or track “pre-crime events.”

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FluentBanking

APRIL 18, 2020

Keeping in view the professional nature of the examinations, all matters falling within the realm of the subject concerned will have to be studied by a candidate as questions may be asked on all the relevant matters under the subject. The examinees will also be asked to answer case study based/practice oriented questions.

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Abrigo

JUNE 15, 2023

Credit: Brian Koppel, Reel to Real Filming Locations blog According to a Global Financial Integrity (GFI) study , an estimated $2.3 national security and the integrity of the U.S. You might also like this Russian sanctions compliance checklist. billion was laundered between 2015 and 2020 through the U.S. financial system.”

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FICO

FEBRUARY 1, 2021

Identity verification, required to prevent fraud and meet eKYC regulatory requirements, can also be the one that introduces friction and causes customers to abandon applications. Completed in 2020, this study provides valuable insight on how the early days of COVID-19 impacted banks’ digital transformation priorities.

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Abrigo

FEBRUARY 15, 2023

Develop your risk assessment with the AML/CFT priorities in mind Evaluating each FinCEN priority and addressing them in your financial institution's risk assessment is key to compliance. Fraud - Fraud is believed to be the largest generator of proceeds for criminals in the U.S. or internationally.

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CB Insights

JULY 23, 2020

However, in the US, 2 out of 3 workers still feel uncomfortable returning to the workplace, according to a Qualtrics study. Companies will have to look to guidelines from local and national authorities for each office location. It can also be used to track worker compliance. Challenges: unproven studies and inconvenience .

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Gonzobanker

DECEMBER 22, 2015

To those community bankers claiming their growing Compliance departments say no to everything. How about fighting harder with better examples and holding compliance officers as accountable as everybody else. Seriously, given what we see in origination process reviews, we almost understand this. Somebody-Call-the-Whaambulance Award.

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Abrigo

JULY 22, 2022

But lawmakers and regulators are concerned about the lack of stability and consumer protections that the traditional financial services industry provides. The growth prompted President Biden to sign an executive order directing relevant government agencies to study its risks and benefits. Fraud Prevention. Fraud Prevention.

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PYMNTS

SEPTEMBER 13, 2020

It’s not too far afield to think Apple and Google would do so with potential data- and national-security issues on the line in an election year. And both companies’ recent tussles with Fortnite parent Epic Games show that Apple and Google aren’t afraid to ban apps for non-compliance. operations. operations.

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PYMNTS

DECEMBER 4, 2018

3) that urged banks to study and implement “where appropriate” methods that would bring innovate approaches to anti-money laundering efforts and Bank Secrecy Act compliance. “Likewise, pilot programs that expose gaps in a BSA/AML compliance program will not necessarily result in supervisory action with respect to that program.”.

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