Cisco

OCTOBER 4, 2022

In June 2021, following large cyber attacks on the United States and the resulting Executive order on Cyber security, the FFIEC released the largest update in guidance in over a decade to help financial auditors assess financial institutions. Sweeping in scope, the AIO guide is very detailed on guidance for different technologies.

Operations 118

Operations Software Risk Management Management 118

Abrigo

APRIL 6, 2022

Takeaway 2 The change includes an obligation to inform regulators of a “notification incident” ASAP and no later than 36 hours after a reportable event occurs. In this guest column by Jeffrey Taft and Matthew Bisanz of Mayer Brown 's Financial Services Regulatory & Enforcement practice, learn more about how to be ready for compliance.

Security 195

Security Regulation District of Columbia United States 195

Gonzobanker

JUNE 14, 2023

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act. Don’t get complacent.

Compliance 109

Compliance FDIC Strategy Fintech 109

PYMNTS

OCTOBER 13, 2020

Across the globe, terrorists and criminals are leveraging cryptos in what is gearing up to be a significant national security threat to the United States. That’s according to the U.S. In the report from the U.S. The terrorist threat, in particular, represents what the report termed “the first raindrops of an oncoming storm.”

cryptocurrency 206

cryptocurrency United States social media Regulation 206

PYMNTS

OCTOBER 19, 2020

Regulation. Keijzer serves as the state secretary for economic affairs and climate policy for the Netherlands, while O is the secretary of digital transition and electronic communications for France. The new regulations would also reshape the manner in which these companies collect and harness information. and Microsoft Corp.

Taxes 143

Taxes Compliance Regulation Google 143

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. Business owners and compliance professionals need to remain vigilant about potential risks and report suspicious activity to OFAC and pertinent agencies.

United States 195

United States Compliance Strategy National 195

Abrigo

JULY 13, 2023

Pig butchering scams originated in Southeast Asia and have escalated significantly in the United States. Crafty scammers exploit weaknesses in fraud and anti-money laundering (AML) compliance programs such as outdated technology, human error, or inadequate monitoring systems.

Fraud 195

Fraud cryptocurrency Training social media 195

PYMNTS

NOVEMBER 16, 2020

Regulation. Tencent Holdings President Martin Lau said further regulations are needed in China to mirror a “new reality.”. As technology companies become bigger and more important to the economy, I would say more regulations to reflect the new reality are needed," Lau said, according to the report.

Maryland 151

Maryland Taxes Online Groups 151

Abrigo

DECEMBER 5, 2019

Banking regulators, state regulators, and FinCEN release joint statement. The 2018 Farm Bill removed hemp as a Schedule I narcotic under the Controlled Substances Act and directs the United States Department of Agriculture (USDA) to regulate legal hemp cultivation and production. BSA Rules and Regulation.

Regulation 195

Regulation United States Training Compliance 195

PYMNTS

JUNE 29, 2020

Small- to medium-sized businesses (SMBs) have been especially hard hit, as many have pivoted quickly to enable online transactions and adhere to the regulations that often accompany them. The health crisis has brought about changes to this rule, however, and these may have long-term implications for payment standards and regulations.

How To 239

How To Payments Management social media 239

PYMNTS

JANUARY 28, 2019

And Starbucks has grown its loyalty rewards program enrollment, while big-name merchants in the United States are adopting Apple Pay. Data: $3,500: The average operational cost for a bank to originate an SMB loan. companies that believe non-compliance with GDPR would affect their reputations. All this, Today In Data.

Data 180

Data United States Apple Payments 180

PYMNTS

SEPTEMBER 2, 2019

3 hearing advises that system-wide governance should be established to regulate virtual asset service providers (VASPs), CoinTelegraph reported Monday (Sept. Although regulation could make it hard for some crypto firms to continue operations, Murray said it’s not the BSA’s job to accommodate everyone. financial system.

Groups 124

Groups cryptocurrency Regulation United States 124

Abrigo

NOVEMBER 17, 2023

Additionally, the human capital investment—in terms of both hiring fraud prevention experts and training existing staff—represents a significant operational expense. As overseers tighten the leash with stringent regulations aimed at protecting consumers, the cost of compliance grows. financial s ystem.

Fraud 195

Fraud Training Trends Compliance 195

Abrigo

JULY 7, 2021

Key points in this article include: Risks exist in states where canabis is illegal > LEARN MORE Ensuring compliance when not servicing CRBs > LEARN MORE Determine your tier of acceptance > LEARN MORE Banking hemp vs. marijuana vs. CBD > LEARN MORE The gray area of banking CBD > LEARN MORE.

Compliance 195

Compliance Operations Regulation United States 195

PYMNTS

FEBRUARY 6, 2018

Reuters reported news on Tuesday that banking regulators from seven states across the United States are working to, as the newswire reported, “streamline” the FinTech reporting process, with an eye on those tech firms having an easier road toward offering their products and services across the nation.

Fintech 118

Fintech US Tennessee Washington 118

Abrigo

JANUARY 14, 2021

The first round of PPP helped more than five million small businesses in the United States in the amount of $525 billion of funding, but not without a dark side to the program. Additional Compliance Checks Required. Small business owners aren’t the only ones eager to get their hands on additional PPP funds.

Fraud 195

Fraud Compliance Community Trends 195

PYMNTS

AUGUST 14, 2019

His worry, he said, are the areas where they have expected to see more data reporting and haven’t; as well as indications that casinos have been taking their foot off the gas pedal of late when it comes to their compliance activities. “It The Team Oriented Nature Of Compliance .

Compliance 163

Compliance Las Vegas Mobile Data 163

PYMNTS

JULY 5, 2018

As one can easily imagine, that ruling, and the revenue it promises, presents money-making opportunities for such firms — not only for age authentication, but also in the compliance and risk management services that can keep online gambling providers from losing money, reputation and brand value. Market Size. Build for that,” Cohen said.

United States 103

United States Compliance Risk Management Online 103

PYMNTS

MAY 27, 2020

CU branches across the United States have temporarily closed to help slow the spread of contagion, forcing CUs to find new ways to engage with their members via connected technologies, from mobile devices to laptops and especially ATMs. About The Tracker.

ATM 243

ATM Innovation Meeting United States 243

PYMNTS

MAY 29, 2018

Companies based in the United States that contend the directive would be costly, were they to comply — costly to the tune of millions of dollars. The newswire stated the mandate in India may have a ripple effect and may push the needle toward a similar walling in of data. On the other side of the equation? That trio of U.S.

Data 101

Data United States Compliance Cards 101

Perficient

NOVEMBER 22, 2022

It also applies when the lessee has orders to deploy with a military unit or as an individual in support of a military operation for no less than 90 days. Termination of automobile leases. Does your financial institution finance automobile leases? Life insurance coverage protection.

National 275

National United States America Lending 275

PYMNTS

SEPTEMBER 29, 2017

Through the EU’s passporting system, the new license enables PingPong to operate throughout the continent, thus better facilitating eCommerce transactions between China and Europe through PingPong’s cross-border eCommerce payments services. PingPong has shown it can operate in the sound regulatory environment in the EU.

Security 129

Security Payments Fintech United States 129

PYMNTS

MARCH 15, 2019

According to the Antiquities Coalition, ‘the United States is the largest destination for archaeological and ethnological objects from around the world,’” explained Waters. “We We know, too, that terror groups like ISIS have looted and sold these treasures to fund their operations.”. This must stop.

US 128

US CA United States Industry 128

CFPB Monitor

JULY 21, 2022

If ultimately enacted as law, even a scaled-back version of this amendment could significantly alter the Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) regulatory framework in the United States. financial system adopt anti-money laundering procedures that can help detect and prevent the laundering of corrupt funds.”.

United States 78

United States Taxes Regulation Compliance 78

FICO

MAY 20, 2021

In my Financial Crimes Predictions 2021: More AI & Ransomware post , I talked about how banks will move to operationalize their Anti-Money Laundering (AML) compliance programs to achieve greater efficiencies and how robotic process automation (RPA) adoption will drive the paradigm shift. Source: FICO customer case study.

Compliance 52

Compliance United States Study Case Study 52

PYMNTS

NOVEMBER 21, 2018

AI’s less sophisticated (but much more well-known) cousin machine learning needs supervision to learn, though the technology is certainly capable of high-level fraud prevention and business operational tasks — which is why financial institutions have adopted ML, as the report has shown. Data Mining. Large Versus Small Banks.

Data 192

Data System Technology Fraud 192

PYMNTS

AUGUST 1, 2018

Supreme Court struck down state bans on sports betting, MGM Resorts International has signed deals with the NBA and other operations that could mark the first chapter of the country’s new sports and gambling culture. which owns and operates two dozen gambling properties in seven states, including Nevada and Louisiana.

United States 101

United States Online New York Louisiana 101

PYMNTS

SEPTEMBER 20, 2017

To that end, and with an eye on regulation, Flywire said last month that it is working with a series of schools in Ireland – ranging from vocational schools to language centers – to help with compliance, namely money flowing into the country from abroad. focused operations on the other side of the pond.

Payments 112

Payments Study Regional United States 112

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. each month.

Taxes 212

Taxes National Regulation Google 212

Gonzobanker

JANUARY 17, 2020

Banks are most afraid of big tech, just when these players face regulation. However, between anti-trust regulations, algorithm investigations and states focused on privacy (e.g., New regional banks will struggle with operational maturity and customer experience.

Customer Experience 127

Customer Experience Fintech Regional Cards 127

Celent Banking

JULY 24, 2015

In the United States, corporates got the option of earning interest in money market accounts with the repeal of Req Q by Dodd Frank. Banks must hold enough high quality, liquid assets (HQLA) to fund their operations during a 30-day stress period. The earnings allowance is then used to offset the cost of cash management services.

United States 100

United States Operations Management Capital 100

PYMNTS

OCTOBER 18, 2019

In the United States, according to some sources such as Javelin , more than one million children were victimized by identity theft — and the fraud costs their families more than $540 million. Those victims are kids — in some cases, even infants. Clearing and Settling Digital IDs.

Fraud 106

Fraud Security social media Tools 106

Jeff For Banks

SEPTEMBER 17, 2017

Form the CBPB, that is within the Federal Alcohol Administration, yet is not accountable to the FAA or the President of the United States. The added compliance costs may put the small beverage distributor out of business in favor of their larger brethren, limit beer drinker choices, and raise prices. Here is what I propose.

United States 68

United States US Industry Compliance 68

PYMNTS

OCTOBER 10, 2016

The CFPB dropped its latest set of regulations for prepaid payments cards , to some cheers (for offering clarity on fees) and some jeers (for thinking that prepaid cards are credit products and require underwriting for $25, 24-hour overdrafts). Much of this situation is additionally muddied by the fact that regulators in the U.S.

Samsung 100

Samsung Google blockchain Bitcoin 100

Abrigo

DECEMBER 22, 2023

Abrigo's most popular financial crime blogs over the last 12 months cover topics that continue to catch the attention of professionals and regulators. Those read most often in the past year include several that offer practical advice for operating AML and fraud programs. Here are Abrigo’s 10 top AML and fraud blogs in 2023.

Fraud 221

Fraud Training Compliance Trends 221

PYMNTS

JANUARY 10, 2019

Top markets include Japan, the United States and Korea. Platform operators and merchants must conduct due diligence related to everything from intellectual property and tariffs to tax laws and FX rates. Chinese companies have to work with banks and regulators, increasingly on a daily basis, as they pursue outbound eCommerce.

United States 158

United States Regulation Compliance Strategy 158

PYMNTS

SEPTEMBER 17, 2018

New York state is suing the United States. Or to put it a bit more specifically, the Conference of State Bank Supervisors sued the Office of the Comptroller of the Currency. The banking sector, argues the suit, is more efficiently regulated at the state level. The GDPR’s Compliance Laggards.

Fintech 180

Fintech National Compliance Google 180