PYMNTS

SEPTEMBER 6, 2018

Compliance and risk? Automating that compliance is now a “need to have.”. Compliance and risk officers have the unenviable task of finding out, sometimes after the fact, that not all the boxes are checked — if they even knew the boxes were there for checking in the first place.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

PYMNTS

MARCH 24, 2017

Compliance is also becoming an enterprise-wide endeavor, and compliance officers must adopt a global mindset. When asked as to what the three things that are most urgently in need of attention when it comes to compliance and fraud, Gurz said that “one is balancing efficiencies versus risk.

Compliance 157

Compliance Fraud Regional Examples 157

PYMNTS

JUNE 4, 2020

Ensuring such payments are secure from bad actors is a priority for the banks that process them. These transactions are not without security risks, they added, meaning banks must be on the lookout for fraudsters seeking to intercept B2B payments. API security. Benefits Of APIs .

Security 151

Security Fraud Payments Compliance 151

PYMNTS

SEPTEMBER 17, 2019

Data residency, on the other hand, refers to where the data resides geographically. In terms of prompt disclosure of data breaches, Lee noted that the company has hired a chief information security officer (CISO). Companies may have a customer within the European Union and data might have to be reserved in servers in the Euro Zone.

Fintech 200

Fintech Compliance Data Regulation 200

Perficient

FEBRUARY 22, 2023

The next offering for adoption within automation is more human-like Advance AI, which is being referred to as Autonomous Enterprise. In the banking industry, RPA is being used to automate a wide range of processes, from loan origination and account opening to back-office processes, such as compliance and accounting.

Trends 474

Trends North Carolina Customer Experience Charlotte 474

CFPB Monitor

JUNE 30, 2022

Of special note, the OCC also believes compliance risk is “heightened” for Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) compliance because of world events and compliance staffing concerns. BSA/AML Compliance Risks. Cybersecurity Risks.

Compliance 78

Compliance Fraud Technology Operations 78

CFPB Monitor

MAY 11, 2020

On May 6, 2020, the CFPB issued an ECOA/Regulation B “Compliance Aid” containing three FAQs that clarify certain issues related to notification of action taken on Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”) loan applications. The Compliance Aid is available here.

Compliance 78

Compliance Regulation Data Security 78

Perficient

MARCH 7, 2021

With adoption rates of Power Platform skyrocketing, so do the critical questions of groups (Security, Compliance, IT, Legal) within the organization : “How do we limit our exposure to data leaks?”. The third is to begin establishing the organizational policies, procedures and compliance needs to fit your needs.

Resources 322

Resources Compliance Innovation Analytics 322

PYMNTS

OCTOBER 13, 2016

Regulation and compliance can be a tough space for many to wrap their heads around. As technology advances, the threat to digital security and identity protection becomes greater, forcing regulations to quickly adapt. Compliance Decoded. Why Compliance Is Going Social.

Compliance 100

Compliance blockchain Regulation Data 100

ForwardBanker

JULY 25, 2019

In June 2017, the Alternative Reference Rates Committee (ARRC) selected the Secured Overnight Financing Rate (SOFR) as the replacement for USD LIBOR. SOFR is based on the overnight interest rate received for lending cash against Treasury securities. The post Reference rates and the LIBOR sunset: Cause for concern?

Lending 28

Lending Security US New York 28

Abrigo

JULY 13, 2023

Avoid fraud losses from pig butchering scams FinCrime professionals looking to prevent pig butchering scams in the age of cryptocurrency can follow these steps to tighten security. Would you like other articles like this in your inbox? Takeaway 1 Investment fraud schemes known as pig butchering scams contributed to $3.3

Fraud 195

Fraud cryptocurrency Training social media 195

PYMNTS

OCTOBER 7, 2019

While the rule has already applied to Greece since 2018, the recent parliament decision refers to the particulars of its application within the country. In GDPR news, the Greek Parliament has passed the rule into law in its country to enable data protection for the online and personal data of its citizens.

Regulation 134

Regulation Trends Compliance National 134

PYMNTS

APRIL 23, 2019

At the same time, these providers cannot afford to implement security procedures that slow onboarding processes, as that could risk losing customers to competitors that offer the speed and ease they seek. . This means fantasy sports platforms must enact robust anti-money laundering (AML), KYC checks and other fraud monitoring services.

Security 108

Security Puerto Rico Data Operations 108

PYMNTS

AUGUST 14, 2019

The second was the rise of cryptocurrency (though during his remarks he tended to refer to it as Convertible Virtual Currency or CVC). It concerns me when I hear about some compliance budgets being cut by casinos looking to trim costs and retain gamblers,” he noted. The Team Oriented Nature Of Compliance .

Compliance 163

Compliance Las Vegas Mobile Data 163

Perficient

APRIL 2, 2021

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. AI can assist internal audit and independent risk management to increase sample size (such as for testing), evaluate risk, and refer higher-risk issues to human analysts. Textual analysis.

Regulation 309

Regulation Industry Risk Management Analysis 309

CFPB Monitor

JULY 25, 2022

The Federal Reserve Board issued a proposa l last week that would establish default rules for benchmark replacements in certain contracts that use as a reference rate the London Interbank Offered Rate (LIBOR), which will be discontinued in 2023. The proposal implements the Adjustable Interest Rate (LIBOR) Act, which was enacted in March 2022.

Regulation 78

Regulation Cards Compliance Examples 78

PYMNTS

JANUARY 8, 2020

8), the Securities and Exchange Commission ’s (SEC’s) Office of Compliance and Examinations (OCIE) offered up a list of its priorities for the year that has just dawned. Call it, perhaps, a New Year’s Resolution list — for regulators. In documents released Tuesday (Jan.

blockchain 138

blockchain Phoenix Compliance cryptocurrency 138

PYMNTS

DECEMBER 17, 2018

It’s been six months since the General Data Protection became law of the land, at least in the European Union, and yet the majority of companies that must be in compliance with that mandate are woefully unprepared. May 25 should have been the wakeup call, but it’s not too late to begin your compliance journey. The time is now.”.

Report 167

Report Fraud Compliance Apple 167

PYMNTS

JANUARY 29, 2020

The company’s articles of incorporation reference “the digital nature of the shares (tokens) and the use of the blockchain as the technology to keep the shareholders registry.”. The prospectus said that the company is offering 8,399,000 “common equity share security tokens” on the ethereum blockchain. 29) by Coindesk.

blockchain 133

blockchain Groups cryptocurrency Bitcoin 133

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

Abrigo

MAY 10, 2021

Takeaway 3 Aite Group assessed client references to evaluate vendors of loan origination systems and important features. The commercial loan origination solution also allows customers or members to upload documents securely online without the risks of email or the inconvenience of having to drop them off at a branch.

System 195

System Lending Analysis Software 195

Perficient

FEBRUARY 13, 2021

As a final note, this new policy attribute relates to the Microsoft Teams recording solution for 1:1 calls, this won’t affect 1:1 Compliance Recording, which will continue to be controlled via the Compliance Recording policy. Security Improvements to Teams Connector Apps Webhook URL.

Meeting 520

Meeting Policies Groups Training 520

PYMNTS

JANUARY 25, 2019

This inquiry will examine a discreet issue relating to Twitter’s compliance with Article 33 of the GDPR.”. That particular article says a personal breach has to be referred to the commissioner within 72 hours, and it explains the amount and type of info that should come with the notification. “We

Data 190

Data social media Compliance Survey 190

PYMNTS

FEBRUARY 18, 2019

Indeed, what will drive crypto adoption, Chell told PYMNTS, is in the technology’s ability to reduce payments friction, and integrate compliance and security. However, the company first rolled onto the scene as a partner of GunBroker , allowing the firearms retailer to offer its own digital coin as a more secure form of payment.

cryptocurrency 175

cryptocurrency Payments blockchain Compliance 175

PYMNTS

DECEMBER 16, 2019

Bart Claeys, Head of KYC and Reference Data at SWIFT, said its global KYC registry offers “huge benefits to the 5,000 banks and financial institutions which are currently using it.” . KYC compliance is a pain point for banks and corporates, with more than 90 percent of treasurers agreeing that it’s harder today than it was five years ago.

Groups 130

Groups Data Compliance US 130

PYMNTS

MARCH 18, 2019

Authenticating.com is working to combat identity fraud by combining different solutions to securely automate and outsource identity verification and fraud prevention as a service. Personally identifiable consumer information is encrypted end-to-end, then anonymized, de-personalized and bifurcated to ensure that the data is secure.

Fraud 108

Fraud Knowledge Base Regulation Data 108

CFPB Monitor

OCTOBER 21, 2020

The QM often is referred to as the “GSE Patch.” The CFPB addressed this issue in the final rule by providing that the GSE Patch is available for applications received by a creditor before the mandatory compliance date for the final rule implementing the new general QM.

Compliance 97

Compliance Regulation System Analysis 97

CB Insights

OCTOBER 29, 2020

Capital markets infrastructure powers the trade of stocks, bonds, and other securities, handling $3000T+ in transactions each year. Currently, complex processes are needed to ensure regulatory compliance and enable secure, trustworthy trades. Some players in this space also look to facilitate fundraising via tokenized assets.

Capital 101

Capital blockchain Marketing Company 101

PYMNTS

NOVEMBER 4, 2020

The ledger, tied to blockchain, allows banks to exchange data about payments, resolve compliance inquiries and validate accounts. Might the advance of blockchain, of better and secure data flows tied to cross-border payments, finally kill the check? Liink, J.P. Morgan said last month, was folded into Onyx. Ready To Kill The Check?

blockchain 328

blockchain Payments cryptocurrency System 328

PYMNTS

JUNE 15, 2018

In reference to the partnership’s advantages, the firms said, is the elimination of manual data entry and accounting. In the Middle East , RAK Bank has said it will offer Sage accounting software to business banking customers, in an agreement that helps those firms manage value-added tax (VAT) compliance mandates.

Fintech 115

Fintech Compliance Software Taxes 115

Perficient

JUNE 12, 2020

If your brand is taking the steps to mature, it might be that a centralized model starts with a small team with a plan to secure additional resources over time. Honeywell has focused on creating a centralized model that they refer to as their Center of Excellence. First and Next Steps.

Resources 309

Resources Case Study Strategy Groups 309

PYMNTS

JULY 30, 2018

The fact remains, too, that the firm will be boosting investment in security initiatives – enough so that profitability is impacted. That scramble comes amid fines that can be levied for non-compliance, which can be as much as 4 percent of a company’s annual global revenue. The unanticipated part comes on a larger stage, perhaps.

Regulation 100

Regulation Comparison Compliance Conference 100

PYMNTS

JUNE 24, 2020

In reference to data and security concerns, he said that the platform is strictly opt in, and that users share their preferences across a range of topics, such as sports, restaurants and cars as they are onboarded. The company does not provide data access to third parties. Boroff also said the firm is GDPR compliant in Europe.

Mobile 201

Mobile Online Payments Video 201

PYMNTS

FEBRUARY 15, 2019

Krebs on Security noted that the emails sent to officials at the United States credit unions looked like they were being sent by other BSA officials. In reference to the ongoing Wirecard saga over allegations of fraud, Reuters reported this week that, in Singapore, police have raided the German firm’s operations there.

Compliance 122

Compliance Fraud United States FDIC 122

PYMNTS

SEPTEMBER 16, 2019

The first refers to KBA methods like passwords or PINs, but the latter two categories are where merchants and payment providers will need to get creative. Possession can refer to the chip inside of a physical debit card, for example, while inherence refers to things that are even more personal — such as fingerprints.

Technology 116

Technology Customer Experience Cards Regulation 116

PYMNTS

MARCH 23, 2020

Refer back to the first sentence to see why this starts to get painfully complicated, and quickly too. There are also legal matters of compliance, and customer experience is increasingly seen as an important part of the overall offering. But it all hinges on reliable data.

Fraud 130

Fraud Customer Experience Resources Compliance 130

Abrigo

SEPTEMBER 10, 2021

Before the September 11 attacks, the BSA did not refer to terrorist financing as part of the illicit activity that law enforcement was concerned with preventing. The role of BSA staff was typical compliance and very task-oriented. Regulatory scrutiny became ever-present, knowing that the security of their homeland was at stake.

Training 195

Training Risk Management Pennsylvania Resources 195