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

FICO

JUNE 11, 2019

Tax agencies have a limited amount of resources to pursue tax compliance activities (collections and audit). Tax Compliance - Why Use Analytical Models at Tax Agencies? The IRS, among other tax agencies are investing in predictive analytics. Tax Compliance - Predictive Analytical Models.

Taxes 58

Taxes Analytics Compliance Resources 58

PYMNTS

MAY 15, 2018

Validating tax information to comply with the IRS: sounds like a no-brainer, something every business and finance organization would simply take for granted and have to do. Israch said he was surprised to find so many organizations were not validating tax info in a compliant manner, considering the current compliance regime.

Compliance 101

Compliance Taxes Study Strategy 101

FICO

MARCH 8, 2021

This year the Internal Revenue Service (IRS) will start accepting 2020 tax returns on February 12 , about two weeks later than usual. That’s positive news—because you definitely want to file your tax return as soon as possible, particularly if you’re claiming a refund. How do fraudsters commit tax refund fraud?

Taxes 52

Taxes Fraud Security Cards 52

PYMNTS

FEBRUARY 18, 2020

This creates new security challenges as firms must learn to centrally manage their fraud protection methods while also gauging threats across many different channels. Fraud orchestration can help solve this issue as it allows banks to build holistic fraud prevention defense systems and gain 360-degree views of their customers.

Fraud 131

Fraud Customer Experience Compliance Survey 131

Abrigo

AUGUST 19, 2020

Key Takeaways COVID-19-related fraud are not new typologies; they just have a new spin. Adjusting your velocity scenarios can help detect money mule scams and check fraud. . COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

Fraud 195

Fraud System Trends Software 195

Abrigo

AUGUST 19, 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. COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

Fraud 195

Fraud System Trends Software 195

FICO

SEPTEMBER 19, 2018

A new special report from Raconteur , published in today's edition of The Times in London, calls out the growing trend of convergence of fraud and compliance. A typical enterprise has both fraud and compliance departments. Download the full report. FICO's Matt Cox discusses why this trend is pressing.

Compliance 40

Compliance Fraud Report Trends 40

FICO

SEPTEMBER 6, 2018

A new special report from Raconteur , published in today's edition of The Times in London, calls out the growing trend of convergence of fraud and compliance. A typical enterprise has both fraud and compliance departments. Download the full report. FICO's Matt Cox discusses why this trend is pressing.

Compliance 40

Compliance Fraud Report Trends 40

PYMNTS

MARCH 23, 2020

“This is a moment that a lot of hackers across the world have been preparing for,” said Brian Finch, partner at Pillsbury law firm and co-leader of the company’s coronavirus response team, in are recent Compliance Week report. Below, PYMNTS looks at some of the latest data points around the fraud threat. The report surveyed U.K.

Philadelphia 178

Philadelphia Fraud Taxes Survey 178

PYMNTS

MAY 2, 2016

The Internal Revenue Service has estimated that the business of tax evasion is a costly one for the government. Tax cheats cost the government as much as $458 billion annually, according to data tabulated between 2008 and 2010. As noted by Fortune , public awareness over tax evasion has been heightened.

Taxes 100

Taxes US United States Fraud 100

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. Existing obligations require financial institutions to monitor, identify, and report terrorist financing activity. from the U.S. or internationally.

Fraud 195

Fraud United States Training Policies 195

PYMNTS

MARCH 14, 2019

The two published their newest “ Treasury Perspectives ” survey this week, a report that polled corporate treasurers and finance executives about their plans and economic outlook. Unfortunately, the report found, recent tax reform in the U.S. has only had a minimal impact on the corporate community.

Fraud 115

Fraud Survey Taxes Regulation 115

PYMNTS

JANUARY 15, 2021

It also said the bank’s Check Cashing Group admitted that it failed to file thousands of suspicious activity reports (SARs) as well as thousands of Currency Transaction Reports (CTRs) from 2008 to 2014. financial system.”.

Capital 268

Capital New Jersey Groups New York 268

PYMNTS

APRIL 27, 2017

million fine by the Central Bank of Ireland due to compliance failures with anti-money laundering and terrorist financing rules. According to a report in Bloomberg News , in addition to the fine, the central bank reprimanded Allied Irish Banks (AIB) for six breaches of the law, with AIB admitting to the breaches.

Compliance 100

Compliance Taxes Regulation Policies 100

Abrigo

JUNE 27, 2023

Key Takeaways Real estate markets are vulnerable to money laundering and fraud because of their transaction size and appreciation over time. Reporting Since the real estate industry was exempted from AML requirements in 2002, the onus has been on financial institutions to identify and report suspicious or fraudulent activity.

El Paso 195

El Paso Miami United States New York City 195

PYMNTS

FEBRUARY 18, 2020

India’s HDFC Bank has teamed up with Mastercard and SAP Concur to manage corporate travel and expense management, according to a report by The Economic Times. It will help to capture and consolidate accurate financial reporting to enable deep analysis for greater cost savings,” Singh said.

Compliance 150

Compliance Cards Management Taxes 150

FICO

FEBRUARY 25, 2022

Since May 2019, major UK banks have participated in a voluntary code - the Contingent Reimbursement Model (CRM), designed to provide funds back to the victims of authorised push payment fraud or APP fraud. So, what can banks do to prevent APP fraud? Look Out for APP Fraud Signals – Develop the Rules.

Fraud 52

Fraud Payments Taxes Analytics 52

PYMNTS

AUGUST 30, 2019

Today in the payments news roundup, travel technology firm Amadeus is teaming with Visa’s CyberSource to bolster anti-fraud measures for the industry. Trending: Merchants Struggle With The (Un)Certainty Of eCommerce Sales Taxes. Amadeus Taps Visa’s CyberSource For SCA Compliance. Also, Netflix turned 22 on Thursday (Aug.

social media 101

social media Payments Fraud Taxes 101

Insights on Business

MARCH 18, 2019

Not just a limited scheme, between 2006 and 2013 it facilitated fake trade deals, reinsurance fraud, tax evasion, hidden investments, a fuel pricing fraud scheme at Sheremetyevo Airport—and much more. The Organized Crime and Corruption Reporting Project and other news organizations are publishing the details.

Taxes 156

Taxes Compliance Fraud Maine 156

PYMNTS

SEPTEMBER 28, 2020

They also need to collect and verify vendors’ details to comply with anti-crime regulations, adhere to tax reporting requirements and deliver convenient digital payments to these suppliers. Preventing crime also includes thwarting tax fraud, and companies must obtain certain details to fulfill their tax reporting responsibilities.

Data 166

Data Management Taxes Meeting 166

PYMNTS

SEPTEMBER 12, 2019

This week , it was reported that the Financial Action Task Force (FATF), the global anti-money laundering organization, is monitoring the planned Libra cryptocurrency, a signal of the growing scrutiny on cryptocurrency’s potential for money laundering and terrorism financing. The Cost of Compliance. A report found that the U.S.

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

Abrigo

MARCH 24, 2023

Do you offer services to those without a Tax ID Number (TIN)? Does the credit union file many suspicious activity reports (SARs) annually compared to the other credit unions in the same geographical area? In that case, this could indicate a need for a strong culture of compliance, which will ultimately lead to further increased risk.

Fraud 195

Fraud Compliance Examples Analysis 195

FICO

MAY 25, 2017

million digital records exposed the dark deeds of dirty money and tax evasion and burst the bubble of pretense that the world is effective at dealing with corruption. One in five banks in Asia Pacific say that they expect tax evasion to increase 100 to 500 percent over last year’s levels according to a recent poll by FICO.

Taxes 40

Taxes Survey Compliance Regional 40

Abrigo

DECEMBER 7, 2021

Do you offer services to those without a Tax ID Number (TIN)? Does the institution file many suspicious activity reports (SARs) annually compared to the other institutions in the same geographical area? In that case, this could indicate a lack of a strong culture of compliance, which will ultimately lead to further increased risk.

How To 195

How To Fraud Analysis Compliance 195

PYMNTS

MARCH 26, 2018

Complex tax law has been linked to the rise in eInvoicing in B2B commerce, according to Julie Park, managing director of VAT and customs duty at The VAT Consultancy. She pointed to Latin America , which enacted some of the world’s first eInvoicing mandates for the purposes of tax rule enforcement. billion every year.

Taxes 102

Taxes Fraud Compliance Regulation 102

PYMNTS

JULY 23, 2020

The goal is to provide a better user experience for invoicing and a reduced risk of fraud. By using the new solution, companies will be able to scale operations to offer automated invoicing and reconciliation, global tax and regulatory compliance and better fraud controls, the release stated.

User Experience 140

User Experience Fraud Taxes Resources 140

PYMNTS

OCTOBER 4, 2017

In a press release, Trulioo said the tool can help verify if a business is real in order to enable companies to detect cybercrime, fraud and other criminal activity, like tax evasion or money laundering.

Tools 116

Tools Company Fraud Compliance 116

Abrigo

JUNE 10, 2020

LaFontaine failed to take sufficient action when presented with significant AML program deficiencies in the Bank’s SAR-monitoring system and the number of staff to fulfill the AML compliance role by his AMLO [AML Officer],” the document said. If you don’t have compliance from the top down, document it, and look for another job,” she says.

Resources 195

Resources Regulation Compliance Policies 195

PYMNTS

JANUARY 9, 2019

Facebook is facing accusations from Vietnam that the social media giant did not remove content that it said was “slanderous,” reported Financial Times. In response, Facebook said it removed content in compliance with the laws in Vietnam. Citing a briefing in Hanoi, Vietnam on Tuesday (Jan.

social media 108

social media Taxes Compliance Google 108

PYMNTS

JUNE 15, 2018

This comes as the newswire reports that retailers take as long as five to seven months to pay suppliers, as estimated by the ministry of trade. In the Middle East , RAK Bank has said it will offer Sage accounting software to business banking customers, in an agreement that helps those firms manage value-added tax (VAT) compliance mandates.

Fintech 115

Fintech Compliance Software Taxes 115

PYMNTS

SEPTEMBER 16, 2019

The requests come on top of a busy week in antitrust investigations where, as has been widely reported, a group of 50 attorneys general stood on steps of the United States Supreme Court on Monday and announced an investigation into Google’s advertising practices. On the Continent — and Taxes in Sight. GDPR Compliance Lacking.

social media 122

social media Google Taxes Arkansas 122

PYMNTS

FEBRUARY 19, 2020

The IRS has invited cryptocurrency groups to meet for a regulatory summit March 3 to discuss how the two can work together going forward, published reports said Tuesday (Feb. The IRS has been trying to combat cryptocurrency tax evasion, and the agency has been working on establishing more concrete guidelines for digital currencies.

Meeting 168

Meeting Groups cryptocurrency Bitcoin 168

PYMNTS

NOVEMBER 22, 2019

Solomon said, according to reports. Richard Ashton, deputy general counsel for litigation, enforcement and system matters, said at a conference that the Federal Reserve is mulling an audit of the governance structures and compliance policies of tech firms. Moving Issuers — And Auth Rates — Past Fraud Prevention To Revenue Protection.

South Dakota 101

South Dakota Apple Taxes Cards 101

Abrigo

SEPTEMBER 1, 2021

Takeaway 1 Identifying and reporting drug trafficking organizations (DTOs) are a staple of the Bank Secrecy Act. Takeaway 3 There are several red flags to help identify and report potential trade-based money laundering schemes. . Would you like others articles like this in your inbox? FinCEN has listed DTOs as one of its priorities.

Training 195

Training Regulation Community Austin 195

PYMNTS

AUGUST 6, 2019

With government agencies working to combat tax evasion and fraud, eInvoice mandates mean a reduced risk of invoice fraud and greater visibility into trade and transactions. on the benefits of an eInvoicing mandate, noting that it would address the nation’s current tax challenges. Additionally, reports on Monday (Aug.

Regional 108

Regional Taxes System Guidelines 108

PYMNTS

JUNE 13, 2019

As reported earlier in the week, Visa launched B2B Connect , a network focused on enabling financial institutions (FIs) to help their clients make B2B payments across borders. As reported, the launch covers 30 markets globally. Visa also said last week that it linked with Currencycloud to focus on cross-border and travel payments.

Charlotte 189

Charlotte Payments Taxes Compliance 189