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.

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New York Compliance Regulation Analysis 221

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

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

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

APRIL 6, 2022

New Rule Outlines Computer-Security Incident Notification Obligations for Banks Financial institutions and their service providers should prepare to meet new computer-security notice requirements by May 1, 2022. . Computer-security incident notifications required. Expand and Clarify.

Security 195

Security Regulation District of Columbia United States 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

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

Perficient

APRIL 26, 2022

FINRA member participation in TRACE is mandatory and obligates members to submit transaction reports in TRACE-eligible securities to conform with the Rule 6700 Series. Once FINRA receives and executes the TRACE Participant Application Agreement, a TRACE participant may input the trade information in TRACE-eligible securities.

Report 294

Report Compliance Security Regulation 294

Perficient

MARCH 30, 2023

However, due to their sensitive and regulated natures, some industries – especially the financial services industry – have had more complicated cloud transformation journeys than others. Security Traditionally, information was said to be most secure when separated and segmented.

Training 492

Training Security Data Regional 492

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 . Most banks are familiar with how quickly regulatory requirements can change.

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Compliance Fraud Regulation Security 151

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. Banks are continuing their ongoing movement to the cloud even as data and security questions continue to grow. Around The Cloud Banking World.

Compliance 191

Compliance Digital Banking Security Online 191

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

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. Reports from the Business Information Industry Association (BIIA) on Tuesday (Aug.

Compliance 184

Compliance Regulation Data Survey 184

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

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

FEBRUARY 21, 2019

Security and technology consulting company Accutive is rolling out a new solution designed to give enterprises an alternative to data encryption to protect sensitive information. Data Discovery enables businesses to identify sensitive data that will require specific regulatory compliance measures.

Compliance 128

Compliance Data Security Training 128

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

Cisco

NOVEMBER 1, 2022

In 2017, New York Department of Financial Services (NYDFS) passed cybersecurity regulation 23 NYCRR 500, requiring all financial services companies to implement multi-factor authentication (MFA). Since its creation, the Cybersecurity Framework has continued to offer updates and guidance on best security practices. The solution?

Regulation 124

Regulation Security System New York 124

PYMNTS

DECEMBER 18, 2018

Now comes a comic book contribution to one of the most vexing and vital issues of modern payments and commerce — fraud prevention and ID compliance. 18) that is has released a free comic and coloring book entitled “ The Adventures of ID Man and Compliance Kid.”. Compliance, too, could become a juicer in the near future.

Compliance 152

Compliance Fraud Security Course 152

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

PYMNTS

SEPTEMBER 30, 2020

Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. The pandemic has refocused scrutiny on the open banking ecosystem’s privacy and security. The Data Privacy Twist .

Regulation 175

Regulation Data Regional Examples 175

Perficient

FEBRUARY 29, 2024

Utilize advanced algorithms and data analytics to enhance risk assessment methodologies, allowing banks to identify and mitigate default risks more effectively, thereby making more informed lending decisions. Facilitation of embedded lending while ensuring compliance: Embedded finance initiatives must adhere to regulatory requirements.

Trends 221

Trends Industry Analytics Compliance 221

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech in banking and finance. What is regtech?

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech for banks to enhance their processes. What is regtech?

Technology 195

Technology Fraud Compliance Regulation 195

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 174

Regulation blockchain Marketing Strategy 174

PYMNTS

MARCH 27, 2019

While regulators had transparency and financial security in mind when introducing more stringent requirements for banks following the global financial crisis, financial institutions faced a sudden surge in the burden compliance. The Key To Compliance Is Data.

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Compliance Data Regulation Analytics 116

PYMNTS

AUGUST 23, 2018

The European Union (EU) General Data Protection Regulation (GDPR) came into effect in May, but most businesses in the region still aren’t compliant with the rules. As organizations are still not entirely compliant with GDPR requirements, supply chains are particularly vulnerable to security issues as a result, analysts have said.

Compliance 119

Compliance Data social media Security 119

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 195

Training Compliance Fraud Policies 195

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

PYMNTS

SEPTEMBER 17, 2019

FinTech firms are keeping a pulse on the latest regulations and helping their clients comply with them. The European Union’s General Data Protection Regulation (GDPR), for instance, went into effect last May, and penalties are just starting to be enforced. To help clients, the FinTech uses Kubernetes, so it is cloud agonistic.

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Fintech Compliance Data Regulation 200

Independent Banker

AUGUST 31, 2022

ICBA’s Bank Security Institute offers critical incident response strategies to keep your physical branch location safe. However, it’s important not to let your community bank’s physical security protocols lapse. In August, ICBA hosted the Bank Security Institute. Look out for the next Bank Security Institute, coming soon.

Community 91

Community Security Community Bank Fraud 91

Perficient

JANUARY 3, 2024

However, as remote work has become the new norm, the Securities Exchange Commission (SEC) has provided its approval to revise Rule 3110, easing the requirements for brokers choosing to work from home. Additionally, these branches underwent annual on-site inspections to ensure compliance with regulations. Contact us today!

Compliance 221

Compliance Risk Management Regulation Industry 221

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

Perficient

JUNE 1, 2023

Generated output takes into account everything from brand voice and word and character length to fact verification, and includes up-to-date information. We also enable clients to use Writer’s snippets to follow strict compliance regulations and efficiently include disclosures in their Sales and Marketing.

Compliance 251

Compliance Industry Regulation Data 251

PYMNTS

OCTOBER 16, 2019

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. banks have to analyze AML regulations before even beginning to innovate, and the rules in question change often. Challenges and Solutions.

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Compliance Fraud Study Digital Banking 123

Payments Source

SEPTEMBER 16, 2018

Organizations that lack security controls and have experienced a breach can expect auditors, regulators and standards bodies to knock on their doors demanding information, writes Fouad Khalil, head of compliance and SecurityScorecard.

Compliance 114

Compliance Regulation Security Data 114

PYMNTS

NOVEMBER 11, 2020

The European Data Protection Board (EDPB) adopted recommendations to assist data exporters with evaluating countries to ensure that they are adhering to the bloc’s level of protection under the EU General Data Protection Regulation ( GDPR ) and finding further measures as needed.

Data 202

Data Compliance Exercises Tools 202