Abrigo

AUGUST 31, 2023

Teaching staff these KYC tips to make clients feel more comfortable In 2023, KYC procedures must both support CDD compliance and make sure your institution is a welcoming place for all customers. Relationship building has long been part of the financial services industry, so knowing your customer may seem straightforward.

Compliance 195

Compliance Community Training System 195

Perficient

DECEMBER 27, 2023

YOU MAY ENJOY: Regulatory Reporting in Financial Services Modernizing CRA Regulations Managing compliance risk frameworks in alignment with existing risk profiles is crucial as customer needs evolve. Contact us today to discuss in depth how we can help tackle your business challenges.

Compliance 221

Compliance FDIC Regulation Fraud 221

PYMNTS

APRIL 8, 2019

Australian financial regulators are feeling pressure to ensure financial institutions treat customers properly and have turned to artificial intelligence (AI) in an attempt to improve compliance, according to a report by the Financial Times. The trend is starting to appear nationally.

Compliance 108

Compliance Regulation Industry National 108

Perficient

DECEMBER 22, 2023

This blog was co-authored by: Ashley Simmons In conversations with financial services executives, Perficient consultants consistently delve into the application and usage of artificial intelligence (AI) within the industry. A pivotal aspect of this conversation revolves around the regulatory perspective toward AI.

Risk Management 221

Risk Management Compliance Fraud Regulation 221

CFPB Monitor

MAY 24, 2021

We are pleased to announce that Ballard Spahr’s Consumer Financial Services Group has once again received the highest national ranking from Chambers USA: America’s Leading Lawyers for Business. We are proud to report that the Group also received the highest national ranking in this new third category.

National 148

National Groups Regulation Compliance 148

PYMNTS

OCTOBER 16, 2019

Between $800 billion and $2 trillion USD is laundered each year, according to the United Nations Office on Drugs and Crime. The Cost of Compliance. Scandal and fraud tarnishing banks’ reputations aside, the impact that AML compliance controls have had on these banks’ bottom lines can’t be underestimated.

Compliance 123

Compliance Fraud Study Digital Banking 123

Perficient

APRIL 2, 2021

The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the. Office of the Comptroller of the Currency (OCC).

Regulation 309

Regulation Industry Risk Management Analysis 309

CFPB Monitor

SEPTEMBER 22, 2020

We are delighted to share the news that Ballard Spahr has been named a finalist for the 2020 LendIt Fintech Top Law Firm Industry Award. Also this year, our Consumer Financial Services Group once again received the highest national ranking from Chambers USA : America’s Leading Lawyers for Business.

Fintech 78

Fintech Industry National Groups 78

Abrigo

JUNE 12, 2023

You might also like this webinar, " AML Compliance and Sanctions Requirements for Non-Bank Financial Institutions. The money transmitter industry is growing, spiked by advances in fintech and the consumer demand for immediate payment mechanisms. One set of requirements will reduce the regulatory burden and compliance costs.

Compliance 195

Compliance Fraud Regulation Guidelines 195

Abrigo

JANUARY 30, 2024

Get your ticket now for ThinkBIG, an industry-leading learning and networking event. REGISTER Takeaway 1 Banking and compliance professionals rely on ThinkBIG to elevate their understanding of industry shifts and regulatory pressures. Still on the fence about attending the ThinkBIG 2024 conference?

Conference 195

Conference Arizona Phoenix Fraud 195

PYMNTS

DECEMBER 5, 2019

The measures will back the industry via technological application, social investment, talent cultivation, and other areas. It is said to be one of the quickest-growing blockchain clusters in the nation. The area is based in an internet industrial park called the Hainan Resort Software Community (RSC).

blockchain 132

blockchain Industry Bitcoin Community 132

CFPB Monitor

APRIL 25, 2022

As we will discuss, the timing of the Consent Order indicates that even when regulators permit crypto activities by financial institutions, they remain cautious, particularly as to BSA/AML compliance. In January 2021, the OCC granted Anchorage conditional approval for a national trust bank charter.

Compliance 78

Compliance Digital Banking Training South Dakota 78

Abrigo

JANUARY 17, 2024

FinCEN data shows that human trafficking in the United States takes place in a wide variety of industries—hospitality, agriculture, janitorial services, construction, restaurants, domestic work, and so on. The United Nations estimates there are currently 40 million people enslaved around the world, and that one-quarter of them are children.

Training 259

Training Community Software Texas 259

CFPB Monitor

JULY 27, 2020

The OCC issued a letter last week stating that “a national bank [and a federal savings association] may provide. A national bank should consult with OCC supervisors as appropriate prior to engaging in cryptocurrency custody activities. The OCC will review these activities as part of its ordinary supervisory processes.

National 113

National cryptocurrency Risk Management Regulation 113

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. For example, with respect to economic sanctions against Iran, OFAC is keeping a close watch on the petrochemicals and metals industries. register today.

United States 195

United States Compliance Strategy National 195

PYMNTS

OCTOBER 5, 2020

Here’s the latest news from Google and the technology industry, which is coming under increasing scrutiny from regulatory watchdogs, trade organizations and politicians globally. The banking industry, however, is against the idea. “We Regulation. EU Aims To Have Big Tech Share Data With Smaller Competitors. Last week, a U.S.

Data 229

Data Google Compliance Apple 229

PYMNTS

FEBRUARY 21, 2020

As Deputy Director, Mr. Mosier oversees FinCEN’s wide-ranging work to protect the financial integrity and national security of the United States,” the release states. Mosier returns to FinCEN from Chainalysis, the digital currency analytics, investigations and compliance company, where he served as chief technical counsel.

Innovation 250

Innovation National United States Leadership 250

PYMNTS

NOVEMBER 9, 2020

Here’s the latest news from the technology industry, which is coming under increasing global scrutiny from governments and consumers. A ballot measure ratified by a strong majority of California voters to increase protections for digital privacy could blaze a trail for similar measures throughout the nation. Regulation.

Regulation 211

Regulation social media Compliance California 211

Abrigo

MAY 8, 2024

They can more easily consider how to harness genAI's power to enhance their operations, compliance, risk management, and member or customer experience. A common example of a generative AI-driven tool that many in the financial services industry are familiar with is ChatGPT, which can produce coherent and diverse texts on various topics.

Examples 221

Examples Fraud Resources Risk Management 221

PYMNTS

AUGUST 24, 2020

The services are not currently registered as distinct entities, although they are provided to users in the nation. The Retail Industry Leaders Association (RILA) has teamed with other trade organizations to create The Buy Safe America Coalition to tackle counterfeit merchandise on eCommerce sites like Amazon, Reuters reported.

social media 152

social media Data Apple Compliance 152

PYMNTS

OCTOBER 5, 2020

Money laundering is a pervasive threat, with the United Nations estimating that up to $2 trillion is laundered each year, equivalent to 5 percent of the global gross domestic product (GDP).

Online 141

Online Compliance Report Study 141

Abrigo

DECEMBER 17, 2021

Takeaway 1 Strengthen your financial institution's culture of compliance through a staffing assessment. Employee turnover is significantly impacting the financial industry. There is no doubt that the last few years have been a challenge for all , and the financial services industry is no exception. Current Trends. Be Prepared.

Compliance 195

Compliance Training Fraud Resources 195

PYMNTS

OCTOBER 18, 2018

However, Swiss officials recently took steps to get ahead of the regulatory uncertainty surrounding the world of blockchain, focusing on a particularly large hurdle for companies in the industry. The SBA said it hopes the guidelines will encourage FIs to service these industry players and keep blockchain innovation within Switzerland.

Guidelines 213

Guidelines cryptocurrency blockchain National 213

CFPB Monitor

MAY 31, 2022

On May 19, 2022, the Associate Director of the Enforcement and Compliance Division of the Financial Crimes Enforcement Network (“FinCEN”), Alessio Evangelista, spoke at the Chainalysis Links Conference in New York City on the topic of “The Intersection of Cryptocurrencies and National Security.”

cryptocurrency 146

cryptocurrency Innovation DC National 146

CFPB Monitor

NOVEMBER 22, 2021

At an industry fair lending conference last week, officials from the U.S. along racial, ethnic and national origin lines. Director Ficklin noted that the Bureau has entered into a substantial number of consent orders and will closely monitor compliance with them. Department of Justice (“DOJ”), the CFPB, and the U.S.

Conference 78

Conference Lending Industry Regulation 78

PYMNTS

JANUARY 25, 2021

Here’s the latest news from the technology industry, which is coming under increasing global scrutiny from governments and consumers. . A representative for the eCommerce retailer told Reuters that the company calls for an international approach in lieu of taxes levied by different nations. 21, according to the report. .

Taxes 141

Taxes Google Compliance Apple 141

Independent Banker

SEPTEMBER 25, 2014

This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. Regulators and industry consultants agree that community banks are generally doing a great job handling their regulatory oversight and requirements. percent, which outpaced industry loan growth of 3.6

Compliance 101

Compliance Regulation Community Bank Community 101

PYMNTS

OCTOBER 19, 2020

Here’s the latest news from Amazon and the technology industry, which is coming under increasing scrutiny from regulatory watchdogs, trade organizations and politicians globally. The government of France halted the payment of its national tax on digital revenues as the United States consented to abstain from retaliatory taxes.

Taxes 143

Taxes Compliance Regulation Google 143

Abrigo

JUNE 8, 2021

Real consequences from OFAC sanctions violations OFAC compliance has increased in complexity and clarity with guidance released within the past few years and institutions need to take notice to avoid penalties. Importance of Compliance. A Framework for OFAC Compliance Commitments. OFAC sanctions can have real world impact.

Compliance 195

Compliance Software Case Study Payments 195

Abrigo

JUNE 27, 2023

Financial criminals have used the industry to clean their illicit funds for years. The limited regulation around the real estate industry has made it especially easy for these bad actors to cycle their dirty money into the financial system using this avenue. Few changes have been made in the regulatory environment in almost 20 years. 

El Paso 195

El Paso Miami United States New York City 195

PYMNTS

NOVEMBER 13, 2020

As government regulators in China increase tech industry oversight, Tencent said it will comply with new laws intended to curb antitrust activities and tighten FinTech acceleration, according to a Bloomberg report on Friday (Nov. On a Thursday (Nov. billion, fueled by the pandemic.

Regulation 227

Regulation social media Video Groups 227

CFPB Monitor

APRIL 12, 2021

The CFPB was busy last week, issuing a series of measures that impact the mortgage servicing industry. On April 5 th , the CFPB issued a Mortgage Servicing COVID-19 Proposed Rule (the “Proposed Rule”), which could have a dramatic impact on mortgage servicers and the housing industry as a whole.

Compliance 78

Compliance Policies Industry Strategy 78

PYMNTS

JANUARY 31, 2019

The growth of Same-Day ACH seems to also suggest that previous concerns about the risk of more fraud as a result of accelerated transactions has not held the industry back from adopting the functionality. Accelerated payments are taking off in several markets around the world, and NACHA’s latest figures demonstrate U.S. a decade ago.

Fraud 182

Fraud Payments Compliance Regulation 182

PYMNTS

DECEMBER 7, 2020

Here’s the latest news from the technology industry, which is coming under increasing scrutiny from governments around the world. government, the digital industry contributed almost 150 billion pounds (roughly $201 billion) to the country’s economy in 2018. UK Regulations to Create New Digital Markets Unit. According to the U.K.

Apple 143

Apple Regulation Taxes Marketing 143

PYMNTS

OCTOBER 7, 2020

Some of the firm’s key functions benefiting agent organizations include seamless integration with agent websites, centralized student data, access to favorable exchange rates, higher visibility for agents, payers and education institutions, strong anti-fraud functions and complete compliance with new Brazilian General Data Protection laws.

Groups 200

Groups Study Fraud Leadership 200

CFPB Monitor

JULY 8, 2021

FinCEN issued this Assessment on the same day that it issued the first government-wide list of national priorities for anti-money laundering (“AML”) and countering the financing of terrorism (“CFT”), as we have blogged. Industry finally may get its wish, although any actual “no action” letter process may be slow and cumbersome.

Industry 78

Industry Regulation Exercises Resources 78

PYMNTS

MARCH 18, 2019

Approximately 2 percent to 5 percent of the world’s gross domestic product (GDP) – $800 billion to $2 trillion – is laundered each year, according to a report from the United Nations Office on Drugs and Crime (UNODC). banks increasing their AML compliance staffing tenfold between 2012 and 2017, according to one report.

Compliance 181

Compliance Regulation Chicago Tools 181