PYMNTS

SEPTEMBER 23, 2019

Financial crimes risk management software company Quantifind and Oracle Financial Services have teamed up to improve anti-money laundering (AML) compliance and to add intelligence and automation properties directly into the compliance workflows, according to a release.

Compliance 164

Compliance Software Risk Management Management 164

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.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

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. Compliance Week reported that U.S. This is an opportunity to conduct pretty robust cyber-espionage, if not cyber-hostage taking.

Company 130

Company US Compliance Study 130

FICO

NOVEMBER 16, 2022

Enterprise Fraud Solution Buyers Want More Agility, More Data. Our recent global survey reveals the investment priorities and functionality requirements for enterprise-level fraud solution buyers. We asked about priorities, plans and requirements for enterprise fraud prevention and detection solutions , and the results are fascinating.

Fraud 52

Fraud Data Survey Regional 52

Abrigo

NOVEMBER 21, 2019

Key Takeaways Now is a good time to plan 2020 BSA/AML training and efforts to educate clients and colleagues about BSA and fraud red flags. As BSA officers, we have continuous expectations placed on us to be knowledgeable in all aspects pertaining to Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance.

Compliance 195

Compliance Training Fraud US 195

PYMNTS

OCTOBER 12, 2016

11) the launch of its Centrix Dispute Tracking System (CentrixDTS) Fraud Alerts module, an add-on to the case management and Regulation E compliance platform financial institutions use for both fraud and non-fraud transaction disputes. billion-asset Gesa Credit Union, in the same press release. ”

Fraud 100

Fraud Tools Cards Management 100

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. expand_less Back To Top.

Fraud 52

Fraud Management Data Compliance 52

Perficient

FEBRUARY 22, 2023

One of the key topics I expect to be discussed at the Summit is the heightened use of artificial intelligence (AI). AI is increasingly being used to automate a variety of tasks in financial services institutions, including customer service, fraud detection, and loan applications. Interested in learning more?

Trends 474

Trends North Carolina Customer Experience Charlotte 474

FICO

SEPTEMBER 12, 2019

A new independent survey by research firm Ovum has found that banks in multiple regions plan to integrate their fraud and financial crime compliance systems and activities in response to new criminal threats and punishing fines — but not all at the same speed. said TJ Horan, vice president of fraud solutions at FICO. by FICO.

Fraud 49

Fraud Management eBook Compliance 49

Insights on Business

FEBRUARY 11, 2019

According to recent information from Juniper Research , online payment fraud losses from e-commerce, airline ticketing, and money transfer and banking services are expected to reach $48 billion by 2023, more than double the $22 billion in losses estimated for 2018. Synthetic identities and new account fraud.

Fraud 111

Fraud Payments Data Study 111

FICO

AUGUST 3, 2022

Fraud Ideas from FICO World 2022 – and Excitement for 2023! FICO World 2022 was an excellent event with a stellar fraud protection and compliance track - here's some of what we learned. Synthetic Identities and Application Fraud. Innovative Customer Communications for Fraud. Tue, 07/02/2019 - 02:45. by TJ Horan.

Fraud 52

Fraud Analytics Trends Innovation 52

Perficient

AUGUST 16, 2023

Heartland Tri-State began operations in 1985 under the name First National Bank of Elkhart. Mr. Herndon named the Federal Deposit Insurance Corporation (“FDIC”) as receiver, allowing the FDIC to take control of the Heartland Tri-State’s operations.

United States 221

United States Kansas FDIC Risk Management 221

FICO

NOVEMBER 27, 2019

Behind the headlines on financial crime compliance are big challenges. Many institutions expanded the size of their compliance headcount by over 500% in the past few years. billion a year on ensuring AML compliance. Financial crime compliance has become a real cost burden for most banks in times of shrinking profits.

Compliance 52

Compliance Fraud Regulation Trends 52

PYMNTS

MARCH 4, 2020

The Financial Crimes Enforcement Network (FinCEN) has fined Michael LaFontaine, former chief operational risk officer at U.S. The bank also inadequately staffed the BSA compliance function. . “Mr. Some operators responded by moving to countries with more relaxed rules, or simply shuttering.

US 130

US Regulation cryptocurrency Resources 130

FICO

SEPTEMBER 20, 2022

Fighting Fraud with Responsible AI: My Talk with Dr. Scott Zoldi. FICO fraud expert TJ Horan talks fraud management and responsible AI with FICO's Chief Analytics Officer, Dr. Scott Zoldi. As for me, I’m a software guy and payments professional doing my best to roll with the changes in an ever-shifting fraud landscape.

Fraud 52

Fraud Analytics Strategy System 52

FICO

AUGUST 12, 2021

Financial Institutions’ compliance officers and teams should be concerned that Open Banking may render their existing AML/CTF and KYC compliance programs inadequate. In markets like the US, Open Banking is neither mandated nor regulated, but is advancing, nonetheless. Customer data screen-scraping widespread.

Compliance 52

Compliance Regulation cryptocurrency Marketing 52

PYMNTS

MAY 23, 2017

According to TMF, just 12 percent of survey respondents cited decreasing operational costs and boosting cost efficiency as their top motivation behind exploring international markets. Expanding existing operations, boosting R&D and finding new talent were also high on the list. is getting very hot on compliance,” he said.

US 100

US Compliance Taxes Trends 100

FICO

JULY 1, 2022

Global Fraud Trends: What’s Happening and What’s Next? Here are the highlights from the fraud trends breakout session at FICO World 2022 with a panel of fraud professionals from Brazil, Turkey and North America. Ulisses Okamoto , Fraud Risk Management Superintendent at Itaú Unibanco (Brazil). Tue, 07/02/2019 - 02:45.

Fraud 52

Fraud Trends South Carolina Risk Management 52

Insights on Business

DECEMBER 6, 2018

In the emerging world of person-to-person (P2P) payments, establishing a frictionless (and “ fraud-less” ) experience is even more critical, since a bad experience early in the transaction will lead consumers to the many competitive alternatives in the market. Fraud prevention: The first line of defense.

Fraud 79

Fraud Payments Security Technology 79

FICO

NOVEMBER 24, 2020

As many of us who have long been in the industry know, fraud remains a top challenge for debit cards. billion in gross (attempted) debit card fraud and ultimately incurred losses of over $1 billion on debit and ATM transactions; the need for an effective solution to this problem has never been greater. In 2019 issuers faced $4.2

Fraud 52

Fraud Cards ATM Case Study 52

FICO

FEBRUARY 9, 2022

This shift has created significant opportunities for local banks, however with this growth comes the inevitable threat of increased fraud, exacerbated by the Covid pandemic and the explosion in ecommerce and card-not-present fraud. Expansion Brings Fraud Challenges.

Fraud 52

Fraud Cards Analytics System 52

PYMNTS

JANUARY 26, 2021

So what our customers are asking from us today as we reopen is, ‘Hold on a second. We're allowing them to ask specific questions for their compliance audit needs,” he said, noting iLobby has relationships with one-fifth of the Fortune 500. The question they're asking us today is, ‘What else can you automate for us?’”.

Management 291

Management Company US Compliance 291

FICO

JANUARY 10, 2023

Top 5 Fraud Posts for 2022: Scams, Contactless and Money Mules. In a year that saw the word "scamdemic" coined, scams such as authorised push payment fraud were top of mind, along with various other fraud schemes. Few things change faster in the financial services space than fraud trends. FICO Admin.

Fraud 52

Fraud Cards Analytics Oakland 52

Independent Banker

APRIL 30, 2022

But with so much emphasis placed on customer-facing products and technologies, innovating back-office operations can fall to the bottom of the priority list. We believe operations is the “engine” that drives every aspect of banking and, ultimately, the bottom line. Unbundle your end-to-end operations and conduct a SWOT analysis.

Innovation 91

Innovation Community Bank New York City Community 91

FICO

OCTOBER 7, 2020

I recently had the honor of participating in a session on Fraud and Financial Crimes Convergence at the Aite Financial Crime Forum. I’m excited to share, the industry is rallying around convergence of fraud and financial crime management, and the opinions shared by my colleagues on the panel confirm it.

Fraud 52

Fraud Data Industry Technology 52

Abrigo

FEBRUARY 6, 2020

The Office of Foreign Assets Control ( OFAC ) hosts an annual symposium to provide updates on compliance requirements, sanctions activity, and enforcement efforts. Join other BSA/AML and fraud professionals at the leading industry conference April 19-22! OFAC restated its crucial role in furthering U.S. register today.

United States 195

United States Compliance Strategy National 195

FICO

JANUARY 5, 2021

It’s no surprise that COVID-19 would be one of the subjects that drew readers to the FICO Blog last year, but for the Fraud Protection and Compliance category it wasn’t the only top draw. What else made for the hottest reads in 2020 for fraud and financial crime? 2: Fighting Fraud: How Biometrics Enhance Identity Authentication.

Fraud 52

Fraud Compliance Survey Google 52

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

APRIL 29, 2019

In a press release , Citi said it teamed up with EY and SAS to create the scoring engine, which aims to streamline the time it takes to review high volumes of trade transactions while also ensuring regulatory compliance. It will expand its offering by using AI to automate more manual processes.

Analytics 123

Analytics Compliance Innovation Operations 123

FICO

JANUARY 22, 2021

Last year I blogged a lot about how payments and fraud patterns have changed. But despite the COVID pandemic having effected massive changes in the ways consumers transact, credit card fraud is still a “thing,” and a big, ever-changing thing at that. Fraud Numbers Vary Widely. Credit Card Fraud Tactics and COVID-19.

Fraud 52

Fraud Cards Trends Report 52

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. Expand and Clarify. Be Prepared.

Security 195

Security Regulation District of Columbia United States 195

FICO

OCTOBER 17, 2019

Those who work in fraud management provide a shining example of how AI can be a force for good, and have been doing so for over quarter of a century. Conroy pointed out that fraud and money laundering are financing some of the worst crimes society faces, including human trafficking, terrorism and the operations of drug cartels.

Fraud 40

Fraud Compliance Conference Operations 40

FICO

OCTOBER 28, 2018

The recent fascination with artificial intelligence and machine learning has made some of us ( naturally intelligent) humans confused about the role that these technologies play in the broader field of fraud analytics. In this blog post, I explain their usage and particularly how they will operate in the open banking revolution. .

Analytics 52

Analytics Fraud Big Data Data 52

FICO

APRIL 12, 2017

It’s especially cool to see how FICO customers can realize associated benefits by using our behavioral analytic technology. IDC predicts that in 2017, behavioral analytics across compliance, fraud, and cyber detection and prevention will be in place at 15% of banks, helping them to avoid losses, regulatory fines and sanctions.

Analytics 49

Analytics Fraud Compliance Comparison 49

PYMNTS

MAY 24, 2019

Companies that are already in their operational phases will be given advance consideration. FinCEN expects to hold events in the Washington, D.C. metro area, as well as some regional events that focus on financial services-related innovation.”. FinCEN explained the importance of the program in an information page about the initiative.

Innovation 124

Innovation US Metro Washington 124

FICO

JANUARY 23, 2019

FICO recently hosted 60 banking fraud professionals from 33 organizations and 8 countries at its Asia Pacific Fraud Forum. Attendees were keenly interested in how artificial intelligence and machine learning continues to be a key technology in the fight against fraud and financial crime. Banking Fraud - The Need for Speed.

Fraud 40

Fraud Analytics Compliance Data 40

FICO

FEBRUARY 28, 2018

But how can it best be used to fight application fraud? It was not much before Deep Blue, in 1992, that FICO pioneered the use of artificial intelligence and machine learning to fight credit card fraud. This is perhaps one of the earliest use cases of using AI moving past academia to solve a real-world business problem.

Fraud 69

Fraud Analytics Regulation Examples 69