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

PYMNTS

DECEMBER 29, 2020

With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. Complex Compliance. In fact, a recent GeoGuard survey found that U.S.

Fraud 270

Fraud Compliance cryptocurrency Security 270

Perficient

FEBRUARY 29, 2024

Banking institutions are responding by integrating advanced technologies, particularly artificial intelligence and data analytics, into their lending operations to enhance efficiency and adaptability. Facilitation of embedded lending while ensuring compliance: Embedded finance initiatives must adhere to regulatory requirements.

Trends 221

Trends Industry Analytics Compliance 221

Perficient

DECEMBER 27, 2023

Other, traditional financial crime risks, especially fraud, continue to demand banks’ vigilance. Significant increases in Suspicious Activity Reports (SAR) filings related to fraud highlight the importance of effective processes to prevent, identify, and file SARs within a timely manner.

Compliance 221

Compliance FDIC Regulation Fraud 221

PYMNTS

OCTOBER 30, 2020

It cannot be overstated how integral non-cash payments are to the global economy, with the United States processing more than 174.2 billion of these payments in 2018 alone for a total of $97.04 Cash payments are quickly falling to the wayside, with only 26 percent of all U.S. Digital payments are fraught with obstacles, however.

Operations 228

Operations Payments Compliance System 228

PYMNTS

AUGUST 21, 2020

As Wirecard AG’s global operations close following its bankruptcy filing, the German payment company has agreed to sell what’s left, the Financial Times reported. In addition, he noted that the sale of some of the company’s operations in Britain and North America could be announced soon. billion euros ($2.1

Operations 222

Operations America Cards Compliance 222

PYMNTS

SEPTEMBER 24, 2020

These types of payment flows made up 5 percent or more of the gross domestic product (GDP) for 66 countries in 2019, reaching as high as 20 percent of GDP in nations like Haiti and Nepal. . Maintaining compliance with these important regulations can be challenging, but FIs cannot afford to slip up. The Cost of Compliance .

Compliance 223

Compliance Tools Fraud Regulation 223

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

AUGUST 23, 2019

When it comes to payments, speed isn’t the only factor to consider in the deployment of real-time payments (RTP) systems. Security and compliance are also vital components in ensuring that payments are delivered safely and without delay. In the domestic payments space, the U.S. Rapid Growth.

Compliance 192

Compliance Security Payments Community 192

PYMNTS

DECEMBER 23, 2019

Payments messaging technology provider SWIFT recently opened up its Know Your Customer (KYC) platform, the KYC Registry , directly to corporates. SWIFT’s decision to open up the registry also reflects the growing threat of fraud in corporate payments. About $2 million in fraudulent invoices were reportedly sent to the U.S.

Fraud 131

Fraud Maryland Payments New York 131

PYMNTS

JANUARY 31, 2019

Accelerated payments are taking off in several markets around the world, and NACHA’s latest figures demonstrate U.S. demand for faster payment capabilities, too. the Federal Reserve’s Faster Payments Task Force published a report last April urging the nation to review the current regulatory landscape.

Fraud 182

Fraud Payments Compliance Regulation 182

PYMNTS

JANUARY 22, 2020

Previously serving as its executive vice president of operations, Schroeder steps in for Judith McGuire, who is now serving in an executive role with PULSE’s parent company, Discover Financial Services. Jim Lerdal will take over the position of executive vice president of operations.

Operations 131

Operations Management ATM Fraud 131

PYMNTS

JUNE 19, 2020

Merchants looking to expand their operations at home and abroad must be able to support their customers’ preferred payment methods, but doing so is no easy feat. Around The Payments Orchestration Ecosystem. For more information on these stories and other payments orchestration headlines, download the Playbook.

Payments 188

Payments Compliance Resources Fraud 188

PYMNTS

SEPTEMBER 23, 2020

Banks in the EU have been racing to comply with the General Data Protection Regulation ( GDPR ) and the revised Payment Services Directive ( PSD2 ) since both measures were enacted in 2018. He explained that the cloud can help FIs swiftly respond to compliance and security challenges during the pandemic.

Compliance 225

Compliance Regulation Guidelines Security 225

PYMNTS

JULY 15, 2020

Mari Anne Bayliss , senior director of solution management at CyberSource , told Karen Webster that simply relying on machine learning as a weapon against fraud is not enough — not in an age where managing fraud risk during the great digital shift (and unprecedented transaction volumes) is so challenging. .

Fraud 250

Fraud Course Online Data 250

PYMNTS

MARCH 11, 2020

FIs in the United Arab Emirates are also looking to get ahead of fraud with improved digital KYC practices. Taking A Local Approach To Fighting Money Laundering, Fraud Worldwide. Payment processing providers need to ensure they do not accidentally onboard malicious merchants that would abuse their services for laundering money.

Fraud 150

Fraud Payments Guidelines Regulation 150

PYMNTS

JANUARY 22, 2020

Previously serving as its executive vice president of operations, Schroeder steps in for Judith McGuire, who is now serving in an executive role with PULSE’s parent company, Discover Financial Services. Jim Lerdal will take over the position of executive vice president of operations.

ATM 130

ATM Operations Management Fraud 130

Perficient

DECEMBER 14, 2023

Automated invoice processing provides a solution by leveraging advanced data extraction and processing capabilities, to identify and classify the fees, ensuring compliance and transparency. This includes everything from receipt to approval and payment of invoices. Duplication detection to avoid repetitive payments.

Training 221

Training Strategy Exercises Data 221

Perficient

DECEMBER 14, 2023

Automated invoice processing provides a solution by leveraging advanced data extraction and processing capabilities, to identify and classify the fees, ensuring compliance and transparency. This includes everything from receipt to approval and payment of invoices. Duplication detection to avoid repetitive payments.

Training 221

Training Strategy Exercises Data 221

PYMNTS

SEPTEMBER 23, 2019

Falcon X is intended to help pinpoint and probe potential fraud and other financial crimes. ” TJ Horan, FICO’s vice president of fraud and compliance products, said the product is something regulators across the globe have been seeking. Designed for the cloud, the solution is available on Amazon Web Services (AWS).

Fraud 131

Fraud Analytics Compliance Regulation 131

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. ” Organizations must do more with less, and they must do it quickly, he continued.

Compliance 191

Compliance Risk Management Training Analysis 191

PYMNTS

JULY 15, 2020

After weeks of relentless headlines on the collapse of Wirecard , the High Court of Justice in London handed the German payments company a victory on Wednesday (July 15), the Financial Times (FT) reported. Judges dismissed a civil suit that alleged Wirecard of fraud weeks after the company filed for insolvency in a Munich court.

Fraud 160

Fraud Taxes Groups Compliance 160

Banking Exchange

MARCH 23, 2021

Payment disputes related to friendly fraud are expected to soar this holiday season due to the pandemic-fueled surge in e-commerce Risk Management Cyberfraud/ID Theft Consumer Compliance Operational Risk Security Online Payments Feature Feature3.

Fraud 78

Fraud Risk Management Compliance Security 78

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. mail, Craig said.

Fraud 195

Fraud Lending Taxes Regulation 195

Perficient

SEPTEMBER 16, 2022

Consumer protection – Concern for the consumer was emphasized throughout the letter as the FRB highlighted risks to the public due to price volatility, misinformation, fraud, as well as the outright loss or even theft of assets. The letter highlighted mandatory compliance with the following federal regulations: The Bank Holding Company Act.

Compliance 275

Compliance Risk Management System Regulation 275

Banking Exchange

FEBRUARY 26, 2020

Online payment fraud could cost companies more than $200 billion over four years, finds Juniper Research Risk Management Technology AML & Fraud Cyberfraud/ID Theft Compliance/Regulatory Operational Risk Big Data Security Online Cards BSA/AML Feature3 Feature Financial Research Payments.

Fraud 97

Fraud Big Data Risk Management Compliance 97

Payments Source

NOVEMBER 2, 2020

In a major break from the Payment Card Industry security standards playbook, merchants and service providers using newer technologies would have the opportunity to rewrite network operation and testing procedures when achieving compliance.

Compliance 115

Compliance Security Cards Operations 115

PYMNTS

SEPTEMBER 15, 2020

Although they are vastly different beasts, shifts in the consumer payments ecosystem have significantly impacted the flow of B2B payments. This is a great risk because if you don’t have the proper banking tools to get your funds to maintain your business operations, it can be very dangerous for business.”.

Payments 299

Payments Risk Management Management Compliance 299

PYMNTS

OCTOBER 28, 2020

Digital payments are growing ever more widespread, with the global digital payments market increasing by more than 50 percent in the past three years to hit $4.7 This growth is not expected to slow down anytime soon, with eCommerce and its associated digital payments expected to hit $4.5 trillion in 2020.

Payments 219

Payments Compliance Fintech Innovation 219

PYMNTS

NOVEMBER 9, 2018

MoneyGram shares sank as much as 25 percent during intraday trading on Friday (November 9), as the company reported results that reflected the impact of new compliance rules to stop fraudulent transactions, which has hurt top line momentum — and which will continue. Bill payment revenues were $17.4 Compliance Efforts, Continued.

Compliance 160

Compliance Fraud Operations Management 160

PYMNTS

SEPTEMBER 6, 2018

Compliance and risk? Automating that compliance is now a “need to have.”. The age of technology is, of course, well upon us, with Software-as-a-Service (SaaS) a key conduit to making sure that at least some business operations — once the province of spreadsheets and reams of paper — can be streamlined. Plugging In To Plugins.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

PYMNTS

DECEMBER 28, 2020

In addition, cybercriminals, including ransomware operators, will continue to exploit the COVID-19 pandemic alongside legitimate efforts to develop, distribute, and administer vaccines,” according to the agency. FinCEN said similar attacks could be launched to disrupt the vaccine supply chain and delivery operations.

Fraud 317

Fraud Compliance Operations Report 317

PYMNTS

DECEMBER 23, 2020

To that end, Luke Evans , director of account management and Peter Mollins , vice president of marketing at Spreedly , said "payments orchestration" can mean the difference between a merchant’s getting those digital goods to end users and allowing them to pay instantly, or losing the sale entirely.

Company 274

Company Payments Fraud Online 274

PYMNTS

SEPTEMBER 18, 2020

It may have taken some time, but faster and real-time payments demand continues to grow in the corporate and B2B payments context. This week's look at payment rail innovation is all about speed, both for legacy rails and new ones. EVO Payments Wields Visa Rails for Merchants. SWIFT to Launch New Real-Time Rails.

Innovation 291

Innovation Payments cryptocurrency Cards 291

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. B2B Payments a Major Pain Point.

Fraud 104

Fraud Marketing Payments Analysis 104

PYMNTS

JUNE 18, 2019

Payments are the backbone of many digital platforms. Unfortunately, platforms that are designed to be seamless are also often attractive targets for fraud. It’s the users who often become the victims in stringent security measures when fraud detection is too broad. percent) and compliance and monitoring (66.7

Fraud 128

Fraud System Strategy Payments 128