PYMNTS

OCTOBER 11, 2019

But along the way, global digital sales also carry a host of regulatory hurdles when it comes to satisfying various tax regimes. As he told PYMNTS, challenges confront eCommerce firms that seek to understand the broad range of compliance and taxation frameworks that can differ greatly among the countries into which they sell.

Taxes 123

Taxes Course Company Training 123

PYMNTS

AUGUST 24, 2020

Here’s the latest news from Facebook, Amazon and others, which are coming under increasing scrutiny from regulators, trade groups and politicians the world over. Regulations. The services are not currently registered as distinct entities, although they are provided to users in the nation. Facebook Supports Data-Portability Law.

social media 152

social media Data Apple Compliance 152

PYMNTS

OCTOBER 5, 2020

Regulation. By providing a national servicing platform, the charter would enable those kinds of companies to bypass the process by which they have to collect money transmitter licenses from states. Data Activist: Big Tech Not Following Transatlantic Data Transfer Regulations. antitrust regulation. Last week, a U.S.

Data 229

Data Google Compliance Apple 229

PYMNTS

SEPTEMBER 20, 2020

If the European Union (EU) gets its way, the 27-nation bloc will have the power to split or force the sale of giant technology companies that threaten smaller rivals and their customers. Breton said regulators in Brussels are preparing a list of activities that tech companies would be required to eliminate.

Compliance 175

Compliance Regulation Taxes System 175

Abrigo

JUNE 27, 2023

Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases. 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. In 2017, over 5.51

El Paso 195

El Paso Miami United States New York City 195

PYMNTS

OCTOBER 14, 2020

The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. This in the wake of the OCC’s Sept. This in the wake of the OCC’s Sept. The Pandemic Pop.

cryptocurrency 323

cryptocurrency Regulation Trends Bitcoin 323

PYMNTS

OCTOBER 25, 2019

tax laws, and some businesses and public sector stakeholders are now pushing back. The case ushered in a wave of state- and municipality-issued economic nexus laws that tax remote sellers based on economic activity rather than physical presence. The 2018 South Dakota v. Wayfair ruling paved the way for broadened U.S.

Taxes 100

Taxes South Dakota Policies Compliance 100

PYMNTS

JANUARY 2, 2020

The finance ministry in India passed a new regulation saying that companies with sales of more than ?50 The new regulation went into effect on Jan. RuPay is a payment network offered by National Payments Corp. The fine for non-compliance is going to be ?5,000

Cards 130

Cards blockchain Cyber Security Retail 130

PYMNTS

OCTOBER 23, 2020

Eynat Guez , co-founder and CEO of cross-border payroll technology company Papaya Global , told PYMNTS about the biggest hurdles in international payroll as working from home persists and employment regulations grow more complex. Payroll is a complex workflow that combines both the movement of money with regulatory compliance needs.

Compliance 143

Compliance Strategy Regulation Taxes 143

CFPB Monitor

OCTOBER 20, 2021

A group of 96 organizations and individuals, who describe themselves as consisting of “consumer, labor, civil rights, legal services, faith, community and financial organizations and academics,” have sent a letter to the CFPB urging the Bureau to regulate fee-based earned wage access (EWA) products as credit subject to the Truth in Lending Act.

Regulation 78

Regulation Groups Analysis Lending 78

Abrigo

SEPTEMBER 20, 2023

Join Abrigo for a webinar discussing risk assessments' role in compliance. Recognizing the gravity of the situation, the Financial Crimes Enforcement Network (FinCEN) identified fraud as a national priority. Regulators will be expecting this as they examine institutions for FinCEN priority preparedness.

Fraud 195

Fraud Trends Cards Software 195

FICO

JANUARY 18, 2019

Despite advances in customer due diligence, including the addition of advanced analytics to compliance officers’ toolkits, the scandals of 2018 confirmed that many banks are struggling to bring their operations up to regulators’ standards, to say nothing of best practices. Know Your Customer. Detection and Alert Handling.

Compliance 40

Compliance Regulation Taxes Analytics 40

Abrigo

FEBRUARY 10, 2022

The AMLA set the stage for establishing a national reporting system for beneficial ownership and for potentially changing current CDD/BO requirements in an effort to improve financial transparency and prevent criminals and terrorists from misusing companies to disguise illicit activity. BSA Rules and Regulation. Need to Know.

Training 195

Training Regulation Report Compliance 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

PYMNTS

NOVEMBER 2, 2020

Regulation. The Digital Services Act will be one of the regulations, which Vestager said will revise the eCommerce Directive and will make digital services take additional responsibility for contending with “illegal content and dangerous products.”. The Digital Markets Act is a second set of regulations. and Facebook Inc.

Taxes 212

Taxes National Regulation Google 212

Jeff For Banks

NOVEMBER 24, 2019

September 1st, 1999, regulators from the Federal Deposit Insurance Corp, at the behest of the Office of the Comptroller of the Currency, descended on a small coal mining town in Keystone, West Virginia. Clearly, blue-suit regulators stood out. The bank, First National Bank of Keystone, was $1.1 You can't make this stuff up.

National 78

National West Virginia Virginia Pennsylvania 78

Abrigo

MARCH 24, 2023

Do you offer services to those without a Tax ID Number (TIN)? In that case, this could indicate a need for a strong culture of compliance, which will ultimately lead to further increased risk. A designated officer should be appointed and approved by the board of directors as responsible for AML/CFT and OFAC compliance.

Fraud 195

Fraud Compliance Examples Analysis 195

PYMNTS

MARCH 5, 2019

tax authority, HM Revenue & Customs (HMRC), conducted a week-long investigation into 50 estate agents suspected of trading without being registered. estate agent Countrywide has been fined £215,000 (more than $283,000 USD) for failing to comply with the country’s money laundering prevention rules. million over 2017 to 2018.

Compliance 134

Compliance Training Taxes National 134

CFPB Monitor

JULY 6, 2021

The Priorities have been much-anticipated because, under the AML Act, regulators will review and examine financial institutions in part according to how their AML/CFT compliance programs incorporate and further the Priorities, “as appropriate.”. A prime example of this problem is the inclusion of “fraud” as a Priority.

United States 78

United States Fraud Regulation Compliance 78

PYMNTS

SEPTEMBER 20, 2017

Regulators, especially at the state level, are forcing companies to change their payroll software and strategies. Research from The Workforce Institute at Kronos released last month found that companies spend as much as $100,000 every time payroll and labor regulation changes across federal, state and local level authorities.

Taxes 100

Taxes Survey Compliance Regulation 100

Abrigo

SEPTEMBER 10, 2021

BSA was intended to detect illicit activity through cash and monetary instruments to catch tax evaders using secret foreign bank accounts. The role of BSA staff was typical compliance and very task-oriented. October 26 is now nationally recognized as BSA/AML Day.) BSA Rules and Regulation. BSA Rules and Regulation.

Training 195

Training Risk Management Pennsylvania Resources 195

CFPB Monitor

JULY 21, 2022

On July 13, 2022, the House of Representatives (the “House”) adopted an amendment to the 2023 National Defense Authorization Act (“NDAA”) offered by Maxine Waters (D. As we will discuss, it applies the BSA to persons providing corporate formation, trust, third-party payment, or similar legal or accounting services. Requirements.

United States 78

United States Taxes Regulation Compliance 78

Abrigo

JULY 17, 2017

“The challenge with the piecemeal approach right now is that every project becomes a new and different project,” says Donny Shimamoto, CPA.CITP, CGMA, founder of advisory-focused CPA firm IntrapriseTechKnowlogies LLC in Honolulu and a nationally recognized accounting technology thought leader. “If

Honolulu 150

Honolulu Taxes eBook Leadership 150

PYMNTS

DECEMBER 2, 2016

The nation saw four startups take home investment out of a total of seven investment rounds. According to its cofounder, Aditya Tulsian, incoming tax regulation changes, along with India’s recent demonetization, mean SMEs are going digital and will need to keep better track of funds. with an $18 million investment.

Fintech 100

Fintech Capital Lending Taxes 100

CFPB Monitor

DECEMBER 23, 2020

On December 21, 2020, the CFPB issued its third consent order involving violations of Subpart B of Regulation E, 12 C.F.R. §§ 1005.30 g) requires remittance transfer providers to develop and maintain written policies and procedures designed to ensure compliance with the Remittance Rule’s error resolution requirements. Section 1005.33(g)

Policies 78

Policies Compliance Taxes Report 78

PYMNTS

JUNE 8, 2016

Those bodies can then issue mandates for corporations to submit and exchange invoices electronically, for tax purposes. It’s a national-scale effort, Billentis argued, that also makes sense on the company-scale. Government policy can demand invoice electronification.

America 100

America Taxes Tools National 100

Abrigo

JANUARY 28, 2015

Much like tax forms were once frequently completed with just a calculator, pencil and paper, the same is true of a business valuation. Compliance. Each option has its own merits, and the decision maker has a few items to consider when building or buying. Human error. Microsoft Office’s Excel is a clear winner for usability.

Taxes 150

Taxes Compliance Course Software 150

Abrigo

DECEMBER 20, 2021

Millions of dollars in suspicious activity were not reported to FinCEN in a timely or accurate manner, including those connected to tax evasion, illegal gambling, money laundering, and other financial crimes. . If your CDD program is not intact, now is the time to tighten things up and watch for new regulations.

Resources 195

Resources Texas Analysis System 195

PYMNTS

MARCH 12, 2018

And yet: How and why to regulate? And where – and just who should do the regulating? federal agencies that are trying to figure out if something is under their purview and should they [even] be regulating this.”. Obviously, there are tax issues and you’ve got the IRS involved,” said Patel. Asked by PYMNTS where U.S.

Regulation 117

Regulation Security Course blockchain 117

PYMNTS

NOVEMBER 26, 2019

Businesses depend on the public services tax revenues pay for: roads that facilitate deliveries, courts where firms resolve legal disputes and regulators that help protect businesses from fraud. Even businesses eager to pay their share, however, may feel that complying with tax laws is complicated. .

Taxes 141

Taxes South Dakota District of Columbia Compliance 141

ZootBlog

JUNE 8, 2016

In July 2015, the Department of Defense (DoD) passed major changes to the Military Lending Act (MLA) with target compliance dates of October 3, 2015 and October 3, 2017. However, the original act only applied to payday loans, tax refund anticipation loans, and vehicle title loans. The 2017 date applies only to credit cards.

Lending 60

Lending Regulation Taxes Security 60

Independent Banker

SEPTEMBER 22, 2015

Both of these laws pointedly changed the National Flood Insurance Program requirements over which of the banking agencies have jurisdiction. At first blush, this new general rule might provide for considerable fear among compliance and lending personnel. taxes and insurance. taxes and insurance. Escrow obligations.

Regulation 70

Regulation Policies Community Bank Taxes 70

FICO

OCTOBER 26, 2017

This article is from Michael Blicker , a senior consultant in FICO's compliance solutions group. You would think one system would be enough to manage foreign tax compliance. In 2010 the IRS (Internal Revenue Service) started to define the details of FATCA (Foreign Account Tax Compliance Act).

Taxes 53

Taxes Compliance Report eBook 53

PYMNTS

NOVEMBER 29, 2019

And in the wake of all those sales lies a pressing issue for merchants plying their trades online: figuring out the tax liabilities. At the same time, navigating tax policies is proving to be a complex business. tax policy at Avalara , noted that this holiday season is the second one post-Wayfair. The hard part?

Taxes 134

Taxes South Dakota New York Nebraska 134

PYMNTS

AUGUST 29, 2019

The Australian Taxation Office (ATO) says killing off the paper invoice is critical to promoting corporate compliance and business growth as the nation readies to end its use of physical invoices. billion gap in tax payments, with cash-only businesses leading the tax-dodging behavior.

Compliance 109

Compliance Taxes National Regulation 109

Independent Banker

DECEMBER 31, 2021

Regulators haven’t yet broached the subject with them. For example, we don’t do mortgage lending right now, because we don’t have the compliance expertise and staff knowledge,” Silveria says. Planning for increased compliance costs. Addressing ESG is one thing,” she says. Badger Bank in Fort Atkinson, Wis., Click to enlarge.

Community Bank 144

Community Bank Community Lending Louisiana 144

PYMNTS

SEPTEMBER 21, 2020

Regulations . EU Regulators Plan New Rules For Big Tech . European Union watchdogs intend to gear new regulations aimed at fighting election-related disinformation toward Big Tech firms such as Apple and Facebook as opposed to smaller tech players. India Telecom Watchdog Decides To Not Regulate OTTs .

Google 147

Google Taxes Compliance Regulation 147