PYMNTS

NOVEMBER 27, 2020

Compliance with financial regulations market-to-market around the globe is increasingly automated yet relies on the same human emotion that undergirds all forms of exchange: trust. In other words, banks and financial institutions (FIs) have an obligation to make sure you are who you claim to be.

Compliance 198

Compliance Regulation Payments Study 198

Abrigo

FEBRUARY 8, 2022

What NBFIs Should Know About Their AML Programs NBFI AML compliance requirements are top of mind in today's regulatory environment. Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. NBFIs’ AML compliance requirements. DOWNLOAD . Competing with Banks.

Compliance 195

Compliance Training Regulation Fraud 195

Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence Perficient’s Risk and Regulatory Center of Excellence (CoE) remains at the forefront of evolving financial rules and regulations, ensuring readiness to tackle emerging challenges and safeguard financial institutions and its customers.

Compliance 221

Compliance New York Regulation Analysis 221

Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector.

New York 221

New York Compliance Regulation Analysis 221

Abrigo

MAY 19, 2023

Takeaway 2 Examining the following objectives and evaluating your loan review system based on them can ensure regulatory compliance. Introduction How regulators define successful loan reviews Mark Twain observed, “A thing long expected takes the form of the unexpected when at last it comes.”

System 195

System Regulation How To Lending 195

Perficient

MAY 27, 2022

For those wanting to start their own cryptocurrency fund, it’s important to be well informed about cryptocurrency regulations. Regulatory cryptocurrency regulations are most fluid at the state level. State Regulations. SEC Regulation. Central Bank Digital Currency (CBDC) ).

cryptocurrency 332

cryptocurrency Regulation Management Bitcoin 332

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. Informing clients that KYC practices are in place for their protection can help alleviate the tension.

Compliance 195

Compliance Community Training System 195

Perficient

NOVEMBER 27, 2023

In the dynamic environment of highly regulated industries like healthcare and financial services, leaders often balance competing goals to delight customers while cutting costs. This comparison enables your teams to assess process effectiveness and identify deviations that require attention due to inefficiencies and/or non-compliance.

Industry 221

Industry Regulation Compliance Data 221

Perficient

JUNE 5, 2020

Secure software practices are at the heart of all system development; doubly so for highly regulated industries such as health-care providers. As a best-practice it is recommended to adopt automation of certain security audits, integration of compliance oversight into key development process areas (e.g. Data Stewardship.

Compliance 332

Compliance Security Software System 332

Abrigo

FEBRUARY 10, 2022

Takeaway 3 Proposed changes will further define beneficial ownership and outline procedures for disclosing information. The proposed rule makes new distinctions regarding who must file a BOI report, what information must be reported, and when a report is due. Keep Me Informed. BSA Rules and Regulation. Need to Know.

Training 195

Training Regulation Report Compliance 195

Abrigo

NOVEMBER 2, 2021

Culture of compliance is crucial to BSA/AML programs Culture of compliance within the BSA/AML framework is not new and was first introduced by FinCEN in 2014. Takeaway 2 Poor culture of compliance will result in shortcomings in a financial institution's BSA/AML program. A strong culture of compliance is crucial.

Compliance 195

Compliance Regulation Resources Policies 195

Perficient

SEPTEMBER 6, 2023

The regulators feel that this proposed LTD rule would: Improve the resolvability of these banking organizations in case of failure, Potentially reduce costs to the Deposit Insurance Fund, and Mitigate financial stability and contagion risks by reducing the risk of loss to uninsured depositors. E-mail: regs.comments@occ.treas.gov.

Regulation 221

Regulation DC Capital Washington 221

PYMNTS

NOVEMBER 12, 2020

European tech firm SIA is forming a technological partnership with German software innovator INFORM to launch a digital service to speed up the authentication process for online payments across Europe. Boni added that the solution was integrated in SIA's infrastructures and will launch quickly to “ensure PSD2 compliance.” .

Payments 165

Payments Compliance Fraud User Experience 165

Abrigo

DECEMBER 13, 2019

The FDIC released a manual on Formal and Informal Enforcement Actions. The FDIC released its manual on Formal and Informal Enforcement Actions. For the first time, the FDIC released its manual on Formal and Informal Enforcement Actions to provide greater transparency to those processes.

FDIC 195

FDIC Regulation Capital Lending 195

Abrigo

JULY 21, 2022

Teaching branch staff these KYC tips can aid CDD compliance BSA Officers can help tellers and other branch staff learn how to ask questions that both foster relationships and support CDD compliance. . But they can also help your BSA team by supporting Know Your Customer (KYC) and Customer Due Diligence (CDD) compliance. .

Compliance 195

Compliance Training Fraud Examples 195

Abrigo

DECEMBER 5, 2023

AML Compliance Ten qualities of a successful BSA officer Hiring a Bank Secrecy Act (BSA) Officer for a financial institution involves looking for a unique experience level and skillset that ensures compliance with the BSA and related regulations.

Training 221

Training Compliance Regulation Software 221

American Banker

JANUARY 19, 2024

Bank regulators Friday said the existing laws governing safety and soundness and fair lending are adequate to address risks posed by artificial intelligence, noting that while AI may be used to inform lending decisions, banks are ultimately responsible for compliance.

Regulation 88

Regulation Tools Compliance Lending 88

PYMNTS

NOVEMBER 12, 2020

European tech firm SIA is forming a technological partnership with German software innovator INFORM to launch a digital service to speed up the authentication process for online payments across Europe. Boni added that the solution was integrated in SIA's infrastructures and will launch quickly to “ensure PSD2 compliance.” .

Payments 130

Payments Compliance Fraud User Experience 130

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

American Banker

AUGUST 11, 2023

Through the power of digital technology and artificial intelligence, regulators around the world could revolutionize the way banks' call reports are filed, providing them with real-time information.

Regulation 69

Regulation Technology Report Compliance 69

Perficient

APRIL 2, 2021

The agencies collectively announced a request for information (RFI) to gain input from stakeholders including financial institutions, trade associations, and consumer groups. Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. Credit Decisions.

Regulation 309

Regulation Industry Risk Management Analysis 309

Abrigo

MAY 22, 2019

Department of the Treasury recently published A Framework for OFAC Compliance Commitments to provide financial institutions and other organizations with OFAC’s perspective on the essential components of a sanctions program. This newly published document mirrors what we know about the requirements of a sound BSA/AML program.

Compliance 150

Compliance Regulation Regional United States 150

CFPB Monitor

AUGUST 12, 2022

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) released Draft Amendments to its Cyber Security Regulations. The Amendments, if adopted, would further regulatory trends and impose important new requirements on covered entities. The Amendments contain three significant changes relating to ransomware.

Regulation 147

Regulation Cyber Security New York Trends 147

PYMNTS

AUGUST 23, 2018

Compliance of General Data Protection Regulation (GDPR) rules remain low across the globe, according to the latest research from Dimensional Research. Reports from the Business Information Industry Association (BIIA) on Tuesday (Aug. However, the cost of GDPR compliance is significant. Twenty-one percent of U.K.

Compliance 184

Compliance Regulation Data Survey 184

PYMNTS

FEBRUARY 12, 2020

The DPC — which acts as the regulator for all of Europe — searched the social media giant’s offices in Dublin. Privacy regulators raised concerns that the new feature wasn’t compliant with the new General Data Protection Regulation (GDPR). The DPC said it was first told about the proposed dating feature on Feb.

Regulation 140

Regulation Compliance social media Data 140

PYMNTS

OCTOBER 6, 2020

Keeping customers' digital payment data safe and secure is a critical part of doing business in the digital economy, and following Payment Card Industry (PCI) compliance guidelines is an effective way for firms to accomplish this. Getting Up to Speed on Compliance. This can be particularly burdensome for smaller firms.

Compliance 178

Compliance Meeting Payments Cards 178

Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Early communication with your regulator is key to understanding the struggles and successes of managing a BSA/AML program during a global pandemic. 5 Things Regulators Will Look For In Your Next Exam. Learn more.

Regulation 195

Regulation Fraud Compliance Trends 195

PYMNTS

APRIL 1, 2020

Consumer data privacy laws were making compliance difficult before a pandemic brought the world to a halt. In the latest Merchants Guide To Navigating Global Payments Regulations we find that dastardly data deeds aren’t stopping despite COVID-19. Are we living in those conditions now? No one is totally sure. Sixty-three percent of U.S.

Compliance 153

Compliance Data Google Regulation 153

Perficient

DECEMBER 6, 2023

Often when the CFPB issues press releases, the agency has already issued non-public information requests or consent orders in the space. The objective is clear: encouraging compliance with consumer protection regulations they deem important before punitive measures are implemented broadly.

Industry 221

Industry Compliance Exercises Regulation 221

Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Early communication with your regulator is key to understanding the struggles and successes of managing a BSA/AML program during a global pandemic. 5 Things Regulators Will Look For In Your Next Exam. Learn more.

Regulation 195

Regulation Fraud Compliance Lending 195

PYMNTS

SEPTEMBER 22, 2020

Consumers pivoting to online banking are also more concerned over the privacy and security of their data, especially as fraud volumes creep up —and financial regulators are taking notice. How The Pandemic Is Shifting Banks’ Understanding Of Clo ud Compliance. Around The Cloud Banking World. About The Tracker.

Compliance 191

Compliance Digital Banking Security Online 191

PYMNTS

SEPTEMBER 24, 2020

Staying abreast of these various compliance shifts can be costly and challenging for banks, but doing so is necessary to ensure that financial institutions’ (FIs) operations can run smoothly and ward off cyberattacks. Compliance, Cybercrime And The Cloud . Failing to secure such information could open up FIs to fraud.

Compliance 151

Compliance Fraud Regulation Security 151

Perficient

APRIL 26, 2022

Once FINRA receives and executes the TRACE Participant Application Agreement, a TRACE participant may input the trade information in TRACE-eligible securities. Participants must also self-report non-compliance with, or changes to, any of the participation requirements to FINRA. Interested in learning more? You can download it here.

Report 294

Report Compliance Security Regulation 294

Gonzobanker

NOVEMBER 22, 2022

Well, Gonzobankers, the smart, idealist and self-declared revolutionary crypto kids just bought themselves a future of regulation — intricate, overbearing, and frustrating regulation, and regulation that the market will now demand. Welcome to adulthood, y’all. But please, don’t get cocky.

Regulation 178

Regulation blockchain Marketing Strategy 178

CFPB Monitor

MAY 3, 2022

Ultimately, regulated entities must have “policies, processes, and procedures to assess counterparty exposure for virtual currency funds transfers[.]”. T]hese wallet addresses are typically pseudonymous, with nothing on the face of the transfer tying back to the originator, beneficiary, or underlying beneficial owners.”.

Analytics 147

Analytics Compliance blockchain Policies 147

Abrigo

JANUARY 3, 2024

New BOI requirements and how financial institutions can comply Here's what FinCEN's recent final rule for beneficial ownership information (BOI) reporting says and how anti-money laundering (AML) programs will access BOI information. It also creates safeguards to ensure that the information is protected. Effective Jan.

Fraud 221

Fraud Regulation Report Compliance 221

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 221

Training Compliance Fraud Policies 221