CFPB Monitor

APRIL 7, 2022

The FDIC has issued the March 2022 edition of Consumer Compliance Supervisory Highlights which includes a description of some of the most significant consumer compliance issues identified by FDIC examiners during consumer compliance examinations conducted in 2021. Re-presentment of unpaid transactions.

FDIC 78

FDIC Compliance Lending Regulation 78

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

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

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. Multiple re-presentment fees. The FDIC issued guidance about the consumer compliance risks associated with assessing NSF arising from the re-presentment of the same unpaid transaction. Quick Stat.

Compliance 100

Compliance FDIC Community Bank Community 100

PYMNTS

JUNE 22, 2020

It’s the battle against fraud that can be lost right at the beginning. There’s increased urgency on the part of financial institutions (FIs) to spend more time and money on battling fraud at the point of onboarding, especially as card-not-present transactions surge in the lingering wake of the coronavirus. alone topped $10.2

Fraud 193

Fraud Cards Risk Management Customer Experience 193

PYMNTS

MAY 2, 2017

Credit card fraud is a fact that will likely continue to plague retailers for the foreseeable future. It’s on the rise in the eCommerce arena, according to data released from omnichannel commerce technology and operations company Radial’s eCommerce Fraud Technology Lab. What happened was exactly what was expected.

Fraud 150

Fraud Data Cards Retail 150

PYMNTS

DECEMBER 2, 2020

At a time when COVID-19 has seen global eCommerce and digital traffic grow by nearly 70 percent, security experts have braced for a commensurate surge in online fraud as the holiday shopping season continues. Compliance Amid COVID-19. Fraudsters now have more avenues for attack available to them,” Rusi said.

Fraud 215

Fraud Online Security Compliance 215

CFPB Monitor

OCTOBER 5, 2022

The final RULE is substantially similar to the proposed rule issued in 2021 and requires online (card not present) debit card transactions to be enabled for processing on at least two unaffiliated payment card networks. The final rule will be effective July 1. Given this continued uncertainty, I do not support the final rule.”.

Regulation 78

Regulation Cards Community Bank Community 78

Abrigo

JANUARY 30, 2024

REGISTER Takeaway 1 Banking and compliance professionals rely on ThinkBIG to elevate their understanding of industry shifts and regulatory pressures. Banking and compliance professionals rely on the annual conference to elevate their understanding of industry shifts and regulatory pressures that hammer them daily.

Conference 195

Conference Arizona Phoenix Fraud 195

PYMNTS

JANUARY 30, 2019

Wirecard Chief Executive Officer Markus Braun saw his fortune take a hit as shares of his company declined due to a report that alleges fraud at the payments enterprise. The presentation outlined potential violations of laws in Singapore including falsifying accounts and money laundering.

Fraud 148

Fraud Regional Compliance Report 148

PYMNTS

DECEMBER 7, 2018

7), Canadian prosecutors officially accused Huawei Chief Financial Officer Meng Wanzhou of sanctions fraud. financial institutions and delivered a PowerPoint presentation in Chinese. The presentation appeared to claim that Huawei operated in Iran in compliance with the sanctions. Meng’s presentation was an act of fraud.

Fraud 116

Fraud United States New York Compliance 116

South State Correspondent

OCTOBER 26, 2023

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. The discussions were healthier, more compliance-focused, and with little expectations that banks were going to offer crypto to their customers any time soon.

Conference 221

Conference Las Vegas Fraud Case Study 221

Payments Source

AUGUST 15, 2019

The Gulf region poses significant and unique challenges in AML, KYC and other compliance checks, according to Accuity's Nirhjar Daripa.

Compliance 82

Compliance Regional Payments Fraud 82

PYMNTS

SEPTEMBER 26, 2019

And while the headline use cases have been in the world of fraud and compliance protections, the reality, he said, is that the application of AI tools is expanding. “As Take, for example, anti-money laundering (AML) and know your customer (KYC) fraud — or just good old-fashioned cybercrime. The Growing Playing Field.

Fraud 158

Fraud System Tools Data 158

PYMNTS

SEPTEMBER 21, 2018

To that end, the the Internet Crime Complaint Center (IC3), a hub to bring complaints to the Federal Bureau of Investigation (FBI), is eyeing payroll fraud. Beyond the confines of one methodology (payroll fraud, as detailed above), Europol has issued a cybercrime report that has taken note of certain attack methods. The deposits?

Fraud 141

Fraud Cards Report Mobile 141

PYMNTS

APRIL 18, 2017

Banks and financial institutions spend billions of dollars to ensure they are meeting compliance requirements and properly managing risks. For this reason, ComplyAdvantage is out to disrupt the market by delivering on solutions that does more than just check the compliance box. Filling The Compliance Gap.

Compliance 111

Compliance Data Austin Management 111

PYMNTS

JUNE 13, 2019

If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day. According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2 According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2

Fraud 110

Fraud Security Retail Tools 110

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. They also must keep their honest merchant customers protected from fraud. Download the Tracker to read the Feature Story. About The Tracker.

Fraud 150

Fraud Payments Guidelines Regulation 150

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

BankInovation

OCTOBER 19, 2023

Discover Financial Services continues to invest in technology and advanced analytics within customer service, originations, risk and compliance, fraud detection and application processes. Information processing was up […]

Analytics 62

Analytics Compliance Fraud Technology 62

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

PYMNTS

JUNE 22, 2017

There’s another way, though, in which the fear of fraud bears down on the enterprise. A new report from Vesta Corporation finds fraud positions itself in the way of innovation and growth, even compliance. to understand how payments fraud is limiting corporates’ path to success. cents per every $100 transacted.

Fraud 108

Fraud Innovation Survey eBook 108

Banking Exchange

JANUARY 27, 2021

Data indicates that global crises like COVID-19 present a ripe environment for spikes in financial crime Compliance Risk Management Compliance Management Compliance/Regulatory AML & Fraud BSA/AML Security Feature3 Feature Covid19.

Risk Management 78

Risk Management Compliance Fraud Security 78

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

PYMNTS

AUGUST 13, 2020

PAAY has rolled out a partner platform to let merchants and payment providers implement and track EMV 3DS, a standard that aims to help prevent unauthorized card-not-present (CNP) transactions, throughout different merchant accounts. It is essential right now that businesses take measures to protect themselves against fraud.

Technology 248

Technology User Experience Fraud Comparison 248

FICO

OCTOBER 19, 2020

Last week I shared FICO’s insights into fraud patterns related to spending on medical devices , including personal protective equipment (PPE) and medical devices such as nebulizers. This post examines whether increased food deliveries are causing a similar rise in food delivery fraud. Key Takeaways on Food Delivery Fraud.

Fraud 98

Fraud Groups Cards Technology 98

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

FICO

FEBRUARY 13, 2020

The fight against fraud is constantly evolving because of the new approaches taken by fraudsters. 2019 was a year full of innovative methods to fight fraud, and we covered these on the FICO Blog. Check out the top 5 fraud blog posts which garnered the most views in 2019. The New White Walkers: Zombie Synthetic Identity Fraud.

Fraud 52

Fraud Compliance Survey Mobile 52

FICO

APRIL 8, 2022

Data Orchestration for Fraud Prevention. There has been an awful lot of unsettling news about scams and fraud lately. As it happens, orchestration (of both data and process) is one of the most potent weapons in fighting scams and fraud. In recent weeks scams and fraud have been splashed across headlines everywhere.

Fraud 52

Fraud Data Management Examples 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

FICO

AUGUST 24, 2021

As a fraud professional, you may feel as though your organization walks a tightrope, balancing minimal customer friction with maximum risk mitigation. Through the lens of the customer journey, we may need to combine a fraud decision and an authentication decision, or identity proofing and KYC compliance decisions.

Fraud 52

Fraud Tools Compliance ATM 52

FICO

MARCH 9, 2022

The last few years have thrown up many challenges for banks and card providers as everything has shifted online, one of the primary challenges being fraud scams. But the online shift has also created opportunities for financial institutions to demonstrate their strong fraud controls in the digital space.

Customer Experience 59

Customer Experience Survey Fraud Cards 59

PYMNTS

SEPTEMBER 8, 2020

The result is a slew of unstructured data coming in from a variety of sources; financial service providers must try to make sense of it in order to maintain regulatory compliance and mitigate the risk of fraud. It's surprising to me that something like corporate standing is not part of compliance.". On Tuesday (Sept.

Fintech 198

Fintech Compliance Fraud social media 198

PYMNTS

JANUARY 22, 2020

“We are extremely proud of our track record with Netcetera, and we look forward to collaborating on many more implementations, enabling financial services providers to meet consumer demand and their own compliance objectives quickly and painlessly.”. It is said that the 3-D Secure solution can be implemented in a short amount of time.

Security 214

Security Payments Cards Fraud 214

FICO

MARCH 1, 2022

Fiserv, a leading global provider of payments and financial services technology solutions, has developed a new fraud mitigation service that has reduced fraud losses, which were already low by industry standards, by 10 to 15% for its small to midsize credit union and bank clients. Keeping Up With The Fraudsters.

Fraud 52

Fraud Analytics Cards Tools 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. AML compliance has not traditionally focused on monitoring this type of network. Open banking is evolving around an ecosystem of third-party providers (TPPs).

Compliance 52

Compliance Regulation cryptocurrency Marketing 52

FICO

DECEMBER 16, 2019

The Communications Fraud Control Association (CFCA) recently released the findings from its Global Telecom Fraud Survey. Fraud teams operate with lean structures. The majority are still using primarily rules-based fraud management systems, with just 6% using AI and machine learning. of respondents.

Survey 52

Survey Fraud Cyber Security Compliance 52