Perficient

AUGUST 23, 2021

Data fuels the engine of the digital economy. Connected experiences, in the context of the customer relationship, are driven by a robust data set that confidently presents integrated, diverse data to enable actionable insights that can be automated across the customer’s journey. by the middle of the 2020s.

Data 508

Data Analytics Trends Fraud 508

Abrigo

SEPTEMBER 20, 2023

Understanding tax ID fraud FinCrime professionals looking to prevent tax ID fraud, first need to understand the fundamentals of what is happening and their best recourse for prevention. Takeaway 3 If you suspect this type of fraud, file a SAR with the term "tax refund fraud" in the narrative.

Taxes 195

Taxes Fraud Trends Exercises 195

Abrigo

SEPTEMBER 7, 2023

Court case: Credit union held liable for ACH fraud losses A construction company argued the financial institution "failed to establish a reasonable routine" for monitoring suspicious activity alerts tied to ACH. Takeaway 3 Remember that ACH fraud risk also occurs in the placement stage of a fraudulent or money laundering scheme.

Fraud 221

Fraud Training System Trends 221

Abrigo

JULY 10, 2023

Stay up-to-date on AI fraud trends to protect your clientele Emerging AI fraud schemes reveal holes in financial institution's defenses. Takeaway 2 Improving security questions is a good step to take to avoid text-to-speech AI fraud schemes. Here are several suggestions for tightening security.

Fraud 150

Fraud How To social media Security 150

Abrigo

JUNE 28, 2023

Share these reports on AML activities to inform directors Reporting to the board on AML and fraud compliance is an essential obligation. Takeaway 3 Recommended reports on AML and fraud metrics for the board include those on high-risk customers and trends on types of fraud and suspicious activity seen.

Compliance 195

Compliance Fraud Report Trends 195

PYMNTS

APRIL 16, 2019

However, as IoT continues to proliferate in more industries and use cases, concerns about data privacy have quickly followed, with consumers and lawmakers ra ising concerns about attacks from bad actors. Another recently introduced piece of legislation aims to protect individuals by regulating facial-recognition cameras.

Regulation 204

Regulation Data Nevada blockchain 204

Perficient

MAY 15, 2023

of Americans are considered “fully banked,” many opportunities exist for financial services institutions to take advantage of the vast amount of customer data they possess. Here are three ways financial services institutions can reap the benefits of a data-driven mindset. market trend data, economic data, etc.)

Data 275

Data Conference New York City New York 275

PYMNTS

SEPTEMBER 22, 2020

China's top regulator, the State Administration for Market Regulation, has fined coffee chain Luckin Coffee and other firms that helped it inflate its sales and expenses last year, The Wall Street Journal reported. The regulator said on Tuesday (Sept. That prompted the regulator to start the investigation.

Regulation 143

Regulation Company Fraud Policies 143

Abrigo

NOVEMBER 1, 2021

Combating Cyber-Enabled Fraud Requires Communication Increases in cybercrime or cyber-enabled fraud deserve attention from financial institutions, as Abrigo expert Terri Luttrell explains in this video. . You might also like this whitepaper, "The 2021 BSA/AML and Fraud Staff Survey: Top Issues for FinCrime Fighters".

Fraud 195

Fraud Video Training Compliance 195

Abrigo

DECEMBER 27, 2022

Fraud trends for financial institutions to watch for in 2023 Financial institutions should not expect a slowdown of any of 2022’s fraud trends. Takeaway 2 A worsening economy increases pressure to commit fraud, provides opportunities to commit fraud, and can be used as an excuse by criminals to rationalize their actions.

Fraud 195

Fraud Trends cryptocurrency Software 195

Abrigo

NOVEMBER 3, 2021

FinCEN provides guidance on Cyber Fraud What can financial institutions do to prevent and detect cyber fraud? You might also like this blog on FinCEN's AML/CTF priorities on cyber fraud. Takeaway 3 The FinCEN releases also focus on money mule schemes and imposter fraud, both increasing due to the pandemic. . Fraudsters.

Fraud 195

Fraud Video Training Bitcoin 195

Perficient

APRIL 2, 2021

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. fraud detection and financial crime monitoring). It involves using software to analyze both structured and unstructured data (i.e., Personalization of Customer Services. Credit Decisions.

Regulation 309

Regulation Industry Risk Management Analysis 309

Abrigo

JULY 14, 2023

Practical advice for using data to develop and support institution goals Answering three questions ahead of strategic development discussions can ensure data drives your financial institution's efforts. Second, efficiently generating those insights from your data is a requirement for a sustainable process.

Strategy 195

Strategy Data Analytics Analysis 195

PYMNTS

DECEMBER 29, 2020

With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. Accurate and reliable data is a critical piece of modernizing the AML regimen,” he said. consumers were increasingly likely to share their location with banks in order to protect them from fraud.

Fraud 270

Fraud Compliance cryptocurrency Security 270

Abrigo

JUNE 13, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation and fraud continue to rise as the baby boomer generation ages. Takeaway 3 Education and reporting are key to preventing this type of fraud, so know your state's policies. .

Fraud 195

Fraud Training United States Survey 195

PYMNTS

DECEMBER 16, 2020

Mobile ordering apps are largely responsible for keeping the industry above water, but fraud still plagues the sector. And while promising news regarding COVID-19 vaccines may have put the end of the pandemic in sight, the restaurant industry’s growing fraud concerns will not cease as abruptly.

Fraud 310

Fraud social media Mobile Trends 310

Abrigo

MARCH 4, 2022

Synthetic ID fraud is growing quickly and hurts FIs and customers Knowing the schemes associated with synthetic identity fraud and how criminals avoid detection can help minimize losses. Takeaway 1 Synthetic identity fraud is a growing form of identity theft in which an individual is impersonated by using stolen information.

Fraud 195

Fraud Cards Software Trends 195

PYMNTS

FEBRUARY 27, 2020

Fraud continues to increase in many areas, despite extensive attempts to bring it to heel. Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 billion , and phishing attacks now comprise 30 percent of all fraud attempts. billion to $7.2 million USD).

Fraud 150

Fraud Examples Online Data 150

PYMNTS

DECEMBER 17, 2020

Fraud protection specialist Kount and Philadelphia-based payments platform FreedomPay are teaming up to offer “an integrated, complete solution to enable international expansion with fraud-free payments and frictionless customer” experiences.

Fraud 174

Fraud Payments Philadelphia social media 174

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Of course, banks and credit unions are highly regulated industries, and this is increasing. They must not only comply with regulations aimed at protecting the safety of the FI but also those protecting the customers/members.

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? Of course, banks and credit unions are highly regulated industries, and this is increasing. They must not only comply with regulations aimed at protecting the safety of the FI but also those protecting the customers/members.

Technology 195

Technology Fraud Compliance Regulation 195

Perficient

NOVEMBER 30, 2022

Our Payments Practice recently had the opportunity to represent Perficient at the 2022 Real-time Payments & Fraud Management Summit held in New York City. . The conference was attended by several Financial Institutions, Service Providers, Fintechs, and Industry Regulators.

Fraud 275

Fraud Management Payments New York City 275

PYMNTS

JANUARY 13, 2020

It’s a new year, and in Europe, an expansion of scrutiny and laws governing data sharing. The dawn of 2020 brought a spate of new rules governing data collection and use. Sites are also required to offer free services that inform users when data is being collected and how it may be used. Penalties in the New Year.

Data 131

Data social media Regulation California 131

TheGuardian

OCTOBER 31, 2023

Regulator figures show huge differences in banks’ treatment of fraud victims, from 94% of claims refunded by TSB to 6% at Monzo The shocking disparity in the way the banks refund fraud victims has been laid bare in figures that show TSB refunded 94% of customer fraud claims in full last year, while for Monzo the figure was just 6%.

Fraud 73

Fraud Regulation System Data 73

PYMNTS

SEPTEMBER 30, 2020

Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. The pandemic is dramatically altering how merchants can transact, which data they can store and where they can store it, however.

Regulation 175

Regulation Data Regional Examples 175

PYMNTS

MARCH 20, 2020

Open banking’s impact on small- to medium-sized businesses (SMBs) continues to proliferate as traditional financial institutions (FIs) embrace the opportunity to unlock data for third-party platforms. “Regulation around open banking has certainly been of great benefit to businesses in the U.K., In the U.K., ” The U.S.’s

Lending 233

Lending Data User Experience Fraud 233

PYMNTS

SEPTEMBER 12, 2019

billion — 91 percent — of those penalties, while European regulators demanded $1.7 FinTechs could face these same financial pains as regulators increasingly demand that they follow the compliance rules to which FIs must adhere. A team of analysts can only handle so many potential fraud cases at a time, after all. . million. .

Fraud 189

Fraud Fintech Compliance Regulation 189

Perficient

FEBRUARY 29, 2024

Banking institutions are responding by integrating advanced technologies, particularly artificial intelligence and data analytics, into their lending operations to enhance efficiency and adaptability. Explore and integrate alternative data sources and innovative scoring models to offer fairer assessments of creditworthiness.

Trends 221

Trends Industry Analytics Compliance 221

PYMNTS

SEPTEMBER 19, 2019

The threat of a data breach is now an ever-present part of life for customers and the banks that serve them. A reported 3,813 data breaches across a number of industries — collectively exposing 4.1 Fraud tends to go where users are, and there was a 117 percent increase in overall mobile fraud in 2018.

Fraud 144

Fraud Data Mobile Tools 144

PYMNTS

NOVEMBER 17, 2020

The number of real-time payments has risen dramatically in recent years, and APP fraud has grown alongside it. Bad actors typically perpetrate APP fraud in several ways. APP Fraud Ramps Up. Instances of APP fraud around the globe have continued to rise as real-time payment rails extend their reach.

Fraud 223

Fraud Payments Survey Security 223

PYMNTS

MAY 12, 2020

The process was chaotic for the lenders, too, creating greater potential for fraud amid an unprecedented SMB stimulus effort. As regulators issue warnings to the lending community about the potential for such fraud, banks and FinTechs are on high alert. Only days ago, the first case confirmed these expectations.

Fraud 154

Fraud Regulation Lending Capital 154

PYMNTS

DECEMBER 2, 2020

At a time when COVID-19 has seen global eCommerce and digital traffic grow by nearly 70 percent, security experts have braced for a commensurate surge in online fraud as the holiday shopping season continues. At the center of all these regulations is the consumer,” he said. The key to this is user experience,” he said.

Fraud 215

Fraud Online Security Compliance 215

PYMNTS

DECEMBER 12, 2019

The China Securities Regulatory Commission , China’s security watchdog, is setting up a technology regulation bureau and will announce Yao Qian as its new department chief, the Chinese business publication Caijing said on Wednesday (Dec. 11), as reported by Coindesk. Yao was the head of China’s central bank digital currency initiative. .

Bitcoin 131

Bitcoin Fraud Regulation social media 131

PYMNTS

SEPTEMBER 11, 2019

A network to better coordinate financial innovation among federal and state regulators is being launched by the Consumer Financial Protection Bureau (CFPB) in partnership with several states, the agency said in a press release. State regulators in every state were invited to join. .

Regulation 171

Regulation Innovation South Carolina Indiana 171

Abrigo

FEBRUARY 5, 2021

You might also like this webinar: "Detecting PPP Fraud: Optimizing Your AML Solution". Takeaway 1 To prevent the kind of fraud that plagued the Paycheck Protection Program in 2020, the SBA has put new measures in place that have created challenges. PPP fraud-prevention challenges arise. New Guidance Out. Ongoing changes help.

Fraud 195

Fraud Lending Taxes Regulation 195

Abrigo

DECEMBER 5, 2023

AML Compliance Ten qualities of a successful BSA officer Hiring a Bank Secrecy Act (BSA) Officer for a financial institution involves looking for a unique experience level and skillset that ensures compliance with the BSA and related regulations. But what makes an exceptional BSA Officer?

Training 221

Training Compliance Regulation Software 221

PYMNTS

DECEMBER 9, 2020

And new regulations are taking root or are on the horizon to help protect consumers, their data and how that data might be used. His comments come at a time when California is arguably taking the lead in consumer data privacy protections. Data security is such an important topic,” he said. It’s paramount.

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Regulation Security Data Course 234