PYMNTS

SEPTEMBER 10, 2019

Businesses that fail to comply with anti-money laundering (AML) and know your customer (KYC) regulations risk major regulator fines and irreparable damage to customer relationships when something goes wrong. The September AML/KYC Tracker examines the latest fraud challenges and efforts to ensure tight security and compliance. .

Security 185

Security Fintech Fraud Compliance 185

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. Sharing the Compliance Burden.

Compliance 178

Compliance Meeting Payments Cards 178

PYMNTS

OCTOBER 7, 2019

Merchants in the European Union (EU) are still wondering exactly what changes the regulation will bring when it comes to their relationships with customers. Regulators in many EU countries have their own thoughts on SCA and how long it will take merchants to prepare. Around the PSD2 and GDPR world. About the Tracker.

Regulation 134

Regulation Trends Compliance National 134

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

Perficient

FEBRUARY 29, 2024

As new regulations come into play, embedded lending is becoming increasingly prevalent, highlighting the need for banks to leverage data analytics and automation effectively while ensuring compliance with regulatory standards. Empowers banks with actionable insights, enabling faster and more informed decision-making processes.

Trends 221

Trends Industry Analytics Compliance 221

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.

Compliance 116

Compliance Data Regulation Analytics 116

PYMNTS

JULY 1, 2020

The Office of the Comptroller of the Currency (OCC) said in a report this week that it will examine how the coronavirus is impacting compliance by financial institutions (FIs). Additional steps may be necessary to properly segment and secure bank networks if employees use personal devices to connect to bank systems,” the OCC wrote.

Compliance 166

Compliance National Fraud Operations 166

CFPB Monitor

MAY 28, 2020

The CFPB recently issued an updated version of the HMDA Small Entity Compliance Guide to reflect the changes in the thresholds. The CFPB recently issued an updated version of the HMDA Small Entity Compliance Guide to reflect the changes in the thresholds. The final rule was published in the May 12, 2020 Federal Register.

Compliance 78

Compliance Resources Regulation Report 78

CFPB Monitor

MAY 28, 2020

The CFPB recently issued an updated version of the HMDA Small Entity Compliance Guide to reflect the changes in the thresholds. The CFPB recently issued an updated version of the HMDA Small Entity Compliance Guide to reflect the changes in the thresholds. The final rule was published in the May 12, 2020 Federal Register.

Compliance 78

Compliance Resources Regulation Report 78

PYMNTS

OCTOBER 29, 2018

As a result of the passage and adoption of open banking regulations, like PSD2 in Europe, banks and other financial firms are sharing data more freely than ever before. Adapting To Open Banking . New open banking tools mean new types of financial transactions, which could make fighting digital fraud even more difficult for banks.

Security 192

Security Fraud Tools Data 192

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.

Fintech 200

Fintech Compliance Data Regulation 200

Abrigo

FEBRUARY 14, 2023

Data collection requirements The CFPB 1071 rule is a top compliance concern According to a recent survey , financial institution executives’ top regulatory compliance concern is the final rule from the Consumer Financial Protection Bureau (CFPB) on data collection for small business loan applications. What data must be collected?

Data 195

Data Lending Compliance Resources 195

PYMNTS

MAY 29, 2019

Reports in Reuters on Tuesday (May 28) said UBS expects its regulatory costs to remain high in the years ahead after a decade of more stringent regulations leading to heavier, more costly burdens on banks. “That has tied up enormous resources.” “Why is this so significant? .”

Regulation 108

Regulation Compliance Capital Resources 108

PYMNTS

DECEMBER 19, 2018

securities regulator is having trouble with rating agencies because it doesn’t have the tools or specific knowledge it needs to analyze huge amounts of rating data, according to a report from Reuters. Those entities and their elevated ratings of mortgage-backed securities, analysts say, were gasoline for the U.S.

Regulation 128

Regulation Data Analysis Compliance 128

PYMNTS

SEPTEMBER 12, 2019

Financial services providers that slack on regulatory compliance and fail to safeguard their operations against money laundering, terrorist financing and other criminal activities may face damaged reputations and significant fines. billion — 91 percent — of those penalties, while European regulators demanded $1.7 resources.

Fraud 189

Fraud Fintech Compliance Regulation 189

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. Takeaway 3 Consider providing resources teaching your customers red flags to watch for to avoid pig butchering scams. billion in fraud losses in 2022.

Fraud 195

Fraud cryptocurrency Training social media 195

Perficient

JUNE 16, 2020

With the number of tech-savvy patients increasing, it is becoming a requirement to provide easy accessibility while maintaining top security. Google technologies allow you to focus on patient care by seamlessly and securely guiding patients through the process of relevant information gathering and connecting virtually.

Google 322

Google Colorado Data Compliance 322

Abrigo

MAY 30, 2023

But compliance deadlines are tiered. June 28, 2023, based on the Code of Federal Regulations and the March 30 publication). However, compliance deadlines for affected financial institutions are tiered so that small business lenders originating the most transactions begin reporting data earlier than less active small business lenders.

Compliance 195

Compliance Lending Data Regulation 195

Celent Banking

NOVEMBER 11, 2015

New York State Department of Financial Services (NYDSF) is one step closer to releasing cyber security regulations aided by the largest security hacking breach in history, against JP Morgan Chase. The timing will undoubtedly put pressure on regulators to push through strong regulation. Information security.

Cyber Security 100

Cyber Security Regulation Security New York 100

PYMNTS

FEBRUARY 4, 2020

Open Banking’s European success has kicked off interest in similar regulations worldwide, most notably in China, India and Singapore, where digital banking’s popularity among general consumers is rapidly rising. Numerous regions then announced internal deadlines for compliance that often diverged from their neighbors’ deadlines.

Fraud 144

Fraud Regulation Compliance Innovation 144

Abrigo

JULY 10, 2023

Here are several suggestions for tightening security. Takeaway 2 Improving security questions is a good step to take to avoid text-to-speech AI fraud schemes. However, you should be able to trust the answers to specific security questions. Just as important are the security questions set up for your clients.

Fraud 150

Fraud How To social media Security 150

PYMNTS

NOVEMBER 3, 2017

wants to help small and medium-sized businesses (SMBs) adhere to the new European Union’s General Data Protection Regulation (GDPR). The regulation comes into effect next May, and the country is deploying a helpline service as part of its effort. million small organizations in the U.K.

Data 108

Data Compliance Security Regulation 108

PYMNTS

MAY 22, 2019

Faced with a growing number of transactions to process in real time, payment service providers (PSPs), financial institutions (FIs) and FinTech firms also need to make sure the security of these smarter payment systems is up to par. Regulators in regions such as Europe are changing the ways they look at cross-border transactions.

Fraud 180

Fraud Payments Regulation Security 180

PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. Certainly, the use and availability of cryptocurrencies is another emerging area that is contending with its own unique set of compliance issues, but it is also one Wingert said appears to be closing gaps in regulation.

Fraud 270

Fraud Compliance cryptocurrency Security 270

Abrigo

NOVEMBER 17, 2023

The second pillar concerns the cost of technical and human resources dedicated to fraud prevention, detection, and remediation. As overseers tighten the leash with stringent regulations aimed at protecting consumers, the cost of compliance grows.

Fraud 195

Fraud Training Trends Compliance 195

Abrigo

NOVEMBER 1, 2021

Takeaway 1 BSA and fraud functions have historically been siloed, and IT has been external to compliance. Bank Secrecy Act (BSA) and fraud functions have historically been siloed within financial institutions' structures in the compliance world. Watch this webinar for resources and info on pros/cons. DOWNLOAD. . Watch Webinar.

Fraud 195

Fraud Video Training Compliance 195

Abrigo

FEBRUARY 25, 2022

Codified risk-based approach The AMLA codified the risk-based approach for the first time, and a thorough risk assessment is necessary to justify businesses to your regulators. ?As As regulators get up to speed with new FFIEC Exam Manual updates, you may need to remind them that not all groups of customers present the same risk.

Regulation 195

Regulation Policies Compliance Washington 195

Abrigo

MARCH 11, 2022

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. Takeaway 3 NBFIs should review common deficiencies in AML programs that regulators are citing and fix issues before their next audit or exam.

Regulation 195

Regulation cryptocurrency Policies Management 195

PYMNTS

MARCH 15, 2020

The Securities and Exchange Commission (SEC) voted last week to ease audit requirements for some small, publicly traded companies, the agency said in a statement Friday (March 13). CEO of the Securities Industry and Financial Markets Association (SIFMA), has been in charge of the industry response to the outbreak. Kenneth Bentsen Jr.,

Indiana 159

Indiana Compliance Security Analysis 159

CFPB Monitor

APRIL 25, 2022

As we will discuss, the timing of the Consent Order indicates that even when regulators permit crypto activities by financial institutions, they remain cautious, particularly as to BSA/AML compliance. The preliminary approval had requirements, including that Anchorage enter into an Operating Agreement with the OCC. The Consent Order.

Compliance 78

Compliance Digital Banking Training South Dakota 78

PYMNTS

DECEMBER 19, 2019

The revised Payment Services Directive ( PSD2 ) Strong Customer Authentication ( SCA ) regulation rollout in the EU has been a little bit on the bumpy side so far. 14 of this year, and while PSD2 did, the SCA part of the regulation has been put on hold. What will that compliance look like in the in the EEA and around the world?

Compliance 102

Compliance Regulation Strategy Training 102

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

Abrigo

JANUARY 24, 2024

These failures were primarily brought on by liquidity concerns around bank stability from severely decreased values of bank security portfolios and inadequate equity to absorb the hit. Find out what auditors and regulators will be looking for as it relates to CECL.

FDIC 195

FDIC Regulation Strategy Data 195

Abrigo

JUNE 19, 2022

And while regulators said some institutions would find the ELE tool useful for CECL, they acknowledged it did not represent a preferred method of regulators or a “safe harbor” method for GAAP compliance. They said it would not change examiner reviews of CECL allowance components. keep me informed. What the ELE tool for CECL is.

Tools 195

Tools Regulation Data Resources 195

PYMNTS

JANUARY 31, 2020

Financial institutions (FIs) and merchants in the European Union (EU) have had some time to get used to both the General Data Protection Regulation (GDPR) and the revised Payment Services Directive (PSD2). Around The Data Protection And Security World. For more on this and other stories, visit the Tracker’s News & Trends section.

Digital Banking 136

Digital Banking Guidelines Regulation Data 136

PYMNTS

APRIL 18, 2019

EU banks and merchants also face the changes to data security, transparency and privacy that the PSD2 and GDPR regulations have marshaled across the region. As European countries and consumers move forward with data transparency, other lawmakers and regulators are seeking to do the same. Around the PSD2, GDPR World.

Regulation 187

Regulation Regional Compliance Data 187