FICO

DECEMBER 17, 2020

Cryptocurrency exchange rates have skyrocketed in the past month. According to a recent report , the total of cryptocurrency related frauds and thefts stands at a staggering $7.69b. At the same time, all top US banks now have customers transacting in cryptocurrency through virtual asset service providers (VASP’s).

cryptocurrency 52

cryptocurrency How To blockchain Analysis 52

CFPB Monitor

JULY 27, 2020

cryptocurrency custody services on behalf of customers, including by holding the unique cryptographic keys associated with cryptocurrency.” Through intermediated exchanges of payments, banks facilitate the flow of funds within our economy and serve important financial risk management and other financial needs of bank customers.

National 113

National cryptocurrency Risk Management Regulation 113

Abrigo

FEBRUARY 25, 2022

Takeaway 3 Keep an eye on updates to changing markets, including cannabis and antiquit ies trading . 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 What to Watch.

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Regulation Policies Compliance Washington 195

PYMNTS

MARCH 12, 2018

As cryptocurrencies fuel discussions on forums and news websites, a new version of a Thomson Reuters Corp tool will capture online chatter around bitcoin. According to Google’s data, searches for the term have plummeted by 80 percent since the cryptocurrency’s high in Dec. The recent declines also came as the U.S.

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CFPB Monitor

AUGUST 1, 2022

On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space.

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Financial Technology Technology Fintech Compliance 78

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.

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Fraud Compliance cryptocurrency Security 270

PYMNTS

NOVEMBER 26, 2019

As a licensed exchange, BitBay has to follow the market standards. Compliance with market standards and regulations allows us to provide our clients with legal security and convenience of using the exchange, with the participation of a friendly banking system and the availability of payment operators,” BitBay said.

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Bitcoin ATM Risk Management Compliance 141

CFPB Monitor

NOVEMBER 29, 2021

Federal banking regulators have been busy in this space. President’s Working Group on Financial Markets, which delineated perceived risks associated with the increased use of stablecoins and highlighted three concerns: risks to rules governing anti-money laundering (“AML”) compliance, risks to market integrity, and general prudential risks.

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Compliance cryptocurrency Regulation FDIC 78

PYMNTS

NOVEMBER 25, 2019

The business services must also reach at least 200,000 accounts in the Czech market. To that end, in France a number of media enterprises — ranging from the APIG press alliance, which represents dozens of national and regional papers, to AFP and the union of magazine editors — have filed complaints with EU regulators over copyright laws.

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Taxes Google Data Regulation 130

Insights on Business

DECEMBER 19, 2018

FINRA and other regulators have informed firms of their expectation to adopt practices of “heightened supervision” to isolate high-risk brokers and activities, including those who have previously committed financial crimes. Heightened supervision expands the aperture. Getting a better perspective with holistic surveillance.

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Regulation Innovation Compliance Risk Management 111

PYMNTS

JUNE 20, 2019

The last thing that anyone wants to hear in almost any financial organization is that the people tasked with risk management is feeling less than fully confident about their ability to actually do that job — because they aren’t sure if their data is good. Big ships take a while to turn.

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Data cryptocurrency Regulation Compliance 166

PYMNTS

JUNE 27, 2016

“Over the past few years, the rise of new financial marketplaces, globalized eCommerce, cross-border payments, international remittances, and cryptocurrencies have become significant opportunities for banks,” Caldera wrote in a recent report. 3. Multi-level marketing: $32 billion. 1. Payday loans: $46 billion.

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Regulation Guidelines Risk Management Operations 101

CFPB Monitor

AUGUST 23, 2022

1828(a)(4), and its implementing regulation, 12 C.F.R The FDIC also alleges that FTX is identified as an “FDIC-Insured” cryptocurrency exchange on other websites, including Cryptosec.info, which also received a cease and desist letter. According to the FDIC’s press release , “[b]ased upon evidence collected., Part 328, Subpart B.

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FDIC social media cryptocurrency US 78

CB Insights

FEBRUARY 20, 2020

Recently, Lakala Payment has been trading at a market cap of roughly $4.5B, well above its pre-IPO valuation of $1.6B (as of February 2020). According to CB Insights market sizing data , the global market for IT for banking, financial services, and insurance (BFSI) industry is projected to reach nearly $150B by 2022.

Fintech 80

Fintech US Lending Cards 80

FICO

APRIL 19, 2021

million coins in circulation, the overall market value of Bitcoin is about $1.1 Last month, too, JPMorgan Chase launched a structure note offering to give clients a way to gain exposure to Bitcoin and other cryptocurrencies. And with that comes regulation. With an estimated 18.7 trillion—too big for banks to ignore.

cryptocurrency 52

cryptocurrency Bitcoin Compliance Resources 52

Abrigo

AUGUST 19, 2022

Joint s tatement emphasizes understanding a customer’s risk profile for BSA/AML An individualized, risk-based CDD approach is best when it comes to creating your BSA program protocols. You might also like this webinar, "Balancing compliance risk & reward with high-risk businesses." Record-keeping.

ATM 195

ATM Regulation Fraud Policies 195

Lex Sokolin

DECEMBER 25, 2019

you get paid some market-clearing interest rate to loan out assets like Bitcoin, which someone is borrowing for a trading or hedging purpose. Having interest rates native to the crypto economy is very helpful, but we are still shy of lending based on actual underwriting and off-chain risk.

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blockchain Bitcoin Software Lending 52

Lex Sokolin

JULY 1, 2019

Goldman Sachs entered and dominated personal digital lending, runs a neobank and roboadvisor, bought a large digital wealth footprint in United Capital, launched a credit card in partnership with Apple, and is now looking into cryptocurrency stablecoins ?—?something But when you look at market cap and activity, Tether remains top dog.

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Bitcoin System Software blockchain 40

Fintech Labs Insights

JUNE 18, 2015

Social cryptocurrency . Compliance & risk-management technology. Compliance & risk-management technology. Mobile personal finance manager . Tags: Risk management, security, regulation, compliance. Source: FT Partners. HQ: San Francisco, California. Latest round: $ 1.5

San Francisco 12

San Francisco Company Fintech Albuquerque 12

PYMNTS

DECEMBER 9, 2020

Gangs in Latin America are increasingly turning to cryptocurrency to operate illegal trades of drugs, guns, sex and people, Reuters reported. Additionally, institutional customers of crypto lending platform BlockFi can now use bitcoin as collateral in risk-managed loan agreements executed on Fidelity Digital Assets, the release stated.

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Bitcoin Report cryptocurrency Analytics 168

PYMNTS

MARCH 6, 2019

Blockchain is increasingly garnering headlines and attention for its use cases beyond cryptocurrencies. One area where elimination of such processes can be of benefit is treasury management — specifically, reconciliation of transactions and liquidity management. PYMNTS raised the question about regulatory concerns.

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blockchain Management Data User Experience 189

Fintech Labs Insights

SEPTEMBER 25, 2015

Risk management. Financial markets analysis. Financial markets analysis. Tags: Investing, information, trading, analytics, investors, wealth management. Source: FT Partners. Distributed financial platform . HQ: San Jose, California. Latest round: $6 million. Total raised: $19 million. Source: WhoGotFunded.

San Francisco 12

San Francisco Company Fintech San Jose 12

FICO

MARCH 6, 2020

At FICO, I am responsible for planning and implementing growth strategies to develop new markets, and the expansion of our compliance business globally. I also manage the partner channels and programs for our financial crime compliance solutions. What do you do? How long have you been in the industry? In the U.S.

Compliance 81

Compliance Technology Fraud Analytics 81

Gonzobanker

DECEMBER 14, 2023

Merger of Equals Deal of the Year (Credit Union) – Spire Credit Union and Hiway Credit Union put 2+2 together to make a $4 billion institution in the Minnesota market. While Huntington is down like most bank stocks, the pain hasn’t been as severe, and Huntington doubled down on local markets in 2023 by consolidating business units.

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Fintech Community Regional Technology 194

PYMNTS

NOVEMBER 19, 2019

Cryptocurrency risk management platform TRM Labs announced that it has raised $4.2 Founded in 2018, TRM helps financial institutions across the US, Latin America, Asia and Europe to measure, monitor and mitigate their cryptocurrency risk exposure, enabling them to simplify customer due diligence and meet regulatory requirements.

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cryptocurrency Risk Management blockchain Capital 103