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

PYMNTS

JANUARY 19, 2021

But reaching a broader range of consumers, accommodating their payment preferences, and satisfying regulatory and tax issues in unfamiliar territory introduces a host of new operational challenges for these companies. Retailers are entering new markets at a time when regulations are becoming more complex and costly, not less.

Branding 322

Branding Taxes Fraud Regulation 322

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. That issue was resolved.

Fraud 195

Fraud Lending Taxes Regulation 195

PYMNTS

SEPTEMBER 28, 2020

Corporate buyers must gather data to ensure that potential suppliers can meet their procurement needs, but their research does not stop there. They also need to collect and verify vendors’ details to comply with anti-crime regulations, adhere to tax reporting requirements and deliver convenient digital payments to these suppliers.

Data 166

Data Management Taxes Meeting 166

PYMNTS

NOVEMBER 4, 2019

have resulted in a delay for legislation that is now in draft form, which would include a provision to tax larger tech firms that derive sales from the region. The bill has proposed a 2 percent tax on revenues for firms as diverse as Facebook and Amazon. The moratorium would be aimed at reducing fraud , Reuters reported.

Taxes 101

Taxes Fraud Data Regional 101

PYMNTS

AUGUST 2, 2019

Data storage firm Seagate revealed that it has moved its anti-fraud blockchain project with IBM into the pilot stage. The technology could also be used to verify that any returned drives have undergone a “certified erase” process to remove any user data.

blockchain 148

blockchain Fraud Data Report 148

PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. The latest AMC/KYC Tracker examines current efforts to stop money laundering, fight fraud and improve customer identity authentication in the financial services space.

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

PYMNTS

OCTOBER 22, 2018

Fraudsters have found a new favored method for the holidays, the Sears’ bankruptcy filing finally came in and the major card networks found themselves on the wrong side of India’s emerging data privacy efforts. As of September 2018, losses from gift-card fraud have hit $53 million. Gift Cards’ New Unfavorable Fans.

Data 134

Data Fraud Cards Regulation 134

PYMNTS

JANUARY 25, 2021

The data leaked included names, email addresses, phone numbers, bank account details and tax ID numbers, the report stated. They could become a “safe-haven asset” and used for asset diversification in investor portfolios if they can overcome volatility, regulation, trust and reputation challenges, according to the report.

Bitcoin 261

Bitcoin cryptocurrency Data National 261

PYMNTS

AUGUST 13, 2019

Included in the exposed data are bank account numbers, statements, tax and mortgage records, receipts for wire transfers, personal social security numbers and pictures of drivers’ licenses. The regulatory agency asked him to provide anything he had that was tied to the data exposure. KrebsOnSecurity reported the breach in May.

Data 116

Data Seattle Security Regulation 116

PYMNTS

AUGUST 13, 2019

Included in the exposed data are bank account numbers, statements, tax and mortgage records, receipts for wire transfers, personal social security numbers and pictures of drivers’ licenses. The regulatory agency asked him to provide anything he had that was tied to the data exposure. KrebsOnSecurity reported the breach in May.

Data 109

Data Seattle Security Regulation 109

FICO

FEBRUARY 25, 2022

Since May 2019, major UK banks have participated in a voluntary code - the Contingent Reimbursement Model (CRM), designed to provide funds back to the victims of authorised push payment fraud or APP fraud. So, what can banks do to prevent APP fraud? Look Out for APP Fraud Signals – Develop the Rules.

Fraud 52

Fraud Payments Taxes Analytics 52

PYMNTS

SEPTEMBER 14, 2018

British Airways Hack : More than 380,000 individuals’ data was compromised in the British Airways hack in recent weeks, and it turns out the hackers were the same bad actors who targeted Ticketmaster. Cryptos : Cryptocurrencies take it on the chin yet again, as multi-month lows tested amid the long arm the law — or at least regulators.

Fraud 139

Fraud cryptocurrency Bitcoin America 139

PYMNTS

MARCH 26, 2018

Complex tax law has been linked to the rise in eInvoicing in B2B commerce, according to Julie Park, managing director of VAT and customs duty at The VAT Consultancy. She pointed to Latin America , which enacted some of the world’s first eInvoicing mandates for the purposes of tax rule enforcement. billion every year.

Taxes 102

Taxes Fraud Compliance Regulation 102

PYMNTS

JANUARY 16, 2020

17, that would relieve medallion owners from tax liability for debt forgiveness. New Data: 75 Pct. How AI Helps Marketplaces Fight Off-Platform Fraud. Fraud threats in industries such as advertising and the sharing economy are growing, and victims often blame the marketplaces and publishing sites for not better protecting them.

Apple 130

Apple New York City New York Google 130

PYMNTS

NOVEMBER 22, 2019

The probe would concentrate on tech firms that provide financial institutions (FIs) with data storage. Privacy Advocates Fear Google Will Mine Fitbit’s Health Data. billion Fitbit deal is sparking privacy concerns that the search company will mine the health data of the 27 million people who tap into the fitness tracking device.

South Dakota 101

South Dakota Apple Taxes Cards 101

PYMNTS

JANUARY 24, 2020

Government disbursements can range from child support payments and annual tax returns to pension and retirement fund payouts. The IRS has accepted digitally filed tax documents and issued digital refunds for years, and it received approximately 29 million electronic returns via direct deposit between February 2018 and February 2019.

Payments 130

Payments US Fraud Innovation 130

FICO

MAY 25, 2017

million digital records exposed the dark deeds of dirty money and tax evasion and burst the bubble of pretense that the world is effective at dealing with corruption. One in five banks in Asia Pacific say that they expect tax evasion to increase 100 to 500 percent over last year’s levels according to a recent poll by FICO.

Taxes 40

Taxes Survey Compliance Regional 40

PYMNTS

JUNE 14, 2018

Identity theft is an unfortunately reality for more consumers as data breaches continue to rock the market. “Small business identity theft – stealing a business’ identity to commit fraud – is big business for identity thieves,” warned NCSS CEO Mary Ellen Seale in a statement. million, in 2016 alone.

Fraud 109

Fraud Taxes Resources National 109

PYMNTS

JANUARY 24, 2019

Data and analytics company Ascension has suffered a data leak that exposed more than 24 million loan and mortgage documents from some of the country’s biggest banks. He added the company will notify all affected customers, as well as report the incident to state regulators. “On

Taxes 155

Taxes New York Security Data 155

PYMNTS

AUGUST 7, 2017

Europe is one market catching up to the leaders, though, as regulators look to eInvoicing to combat fraud and promote tax compliance. There is an effort to look at tax fraud,” he added, “and to look at how payments move across and inside each country. It’s hierarchical.

Taxes 108

Taxes Regulation Compliance Industry 108

PYMNTS

SEPTEMBER 16, 2019

On the Continent — and Taxes in Sight. Google’s own regulatory and tax issues extend well beyond domestic markets. In other news this past week, Google agreed to pay a $548 million fine in France to settle a fiscal fraud probe that stretches back four years. In France, the project has some clear opposition.

social media 122

social media Google Taxes Arkansas 122

PYMNTS

APRIL 3, 2020

There is a lot to consider, said Manish Vrishaketu, chief operating officer at supplier payments automation firm Tipalti , from vendor onboarding processes to tax compliance across borders. This is where AP automation can push the envelope and introduce additional value to an enterprise.

Taxes 131

Taxes Compliance Payments Data 131

PYMNTS

JULY 5, 2018

Reports are surfacing that, since the European Union’s General Data Protection Regulation took effect on May 25, customers exercising their rights under the law are contacting companies with questions about how their online data is being handled, and to request copies of that data. Breathing Room. Brazil Law?

Regulation 102

Regulation Data Exercises Online 102

PYMNTS

DECEMBER 28, 2018

It has been a busy year for the world of bank regulations, particularly Know Your Customer (KYC). Financial services regulations are notorious for their complexity and ever-changing demands for financial institutions and corporates, but another fuel for development in the KYC space was the FinTech community.

Compliance 186

Compliance Regulation blockchain Taxes 186

PYMNTS

JANUARY 1, 2021

This year, the PYMNTS data and analytics team published 252 reports that tracked the data, innovations and disruptive thinking that are reshaping the payments and commerce business. The Trackers use a number of creative methodologies and frameworks that measure and benchmark an ever-changing landscape. Credit Union. Digital Identity.

Trends 259

Trends Video Retail Payments 259

PYMNTS

MAY 12, 2016

To securely meet international demand, Gameday Merchandising relies on cross-border solutions to process global transactions while still adhering to rules surrounding fraud, risk, tax and legal compliance. . eCommerce shoppers will not have to pay duty and tax premiums for international purchases totaling under $800. In the U.S.,

Oakland 100

Oakland Taxes Regulation Data 100

PYMNTS

JULY 9, 2018

It’s been just a few weeks since the General Data Protection Regulation (GDPR) took effect — and speed bumps remain. As noted this past week, research from the EU Institute shows that some of the larger tech firms, international in scope, have yet to comply with that law’s mandates, which stipulates how individuals’ data can be shared.

cryptocurrency 101

cryptocurrency Regulation blockchain Data 101

PYMNTS

JANUARY 10, 2019

Platform operators and merchants must conduct due diligence related to everything from intellectual property and tariffs to tax laws and FX rates. There’s a relatively new wrinkle, too, as Europe has mandated new data privacy processes in the wake of the General Data Protection Regulation (GDPR). Working with Regulators.

United States 158

United States Regulation Compliance Strategy 158

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

PYMNTS

MAY 16, 2018

The rest, says Pappano, are going to be scrambling to catch up so they can start to enjoy the potential new tax revenues that legalized gambling can create. Tax revenue is a powerful motivator. Fraud Isn’t A Problem. How often does one get to read that sentence in this modern era of data breaches and hacks?

Online 100

Online Fraud Industry New Jersey 100

PYMNTS

DECEMBER 8, 2016

businesses are attracted to digital invoicing for a slew of financial benefits: faster, more efficient accounts payable and reconciliation processes, a reduction in the threat of errors due to manual data entry and ability to capture early payment discounts thanks to an accelerated invoice management process. In the U.S., Still, U.S.

Compliance 100

Compliance Regulation Taxes Fraud 100

PYMNTS

FEBRUARY 21, 2018

Perhaps it isn’t surprising that analysts are now musing about how to avoid a repeat of the Punjab National Bank fraud scandal, and some are looking towards blockchain to do so. As regulators begin to consider blockchain regulations, many have signaled a desire not to hamper innovation while doing so.

blockchain 130

blockchain Los Angeles Regulation Oregon 130

Abrigo

APRIL 20, 2017

According to the AICPA, analytical procedures consist of reviewing financial information by studying plausible relationships between data and evaluating it for consistency. Analytical procedures typically start with a bottom-up approach: • What does the data suggest? Does the data suggest errors were made?

Analytics 150

Analytics Referral Marketing eBook Data 150

PYMNTS

OCTOBER 7, 2020

This means individual transactions are unlikely to pop up on regulators’ or tax officials’ radar, thus keeping the operations under wraps. Data analytics is another critical tool that eCommerce payment providers can leverage in their anti-money laundering (AML) efforts. How Payment Providers Stop Money Laundering.

Payments 171

Payments Analytics Online Retail 171

CB Insights

MAY 23, 2019

Below, we take a look at some of these frauds and the lessons they can teach entrepreneurs hoping to launch their own products, companies, and funds. Zenefits skirts compliance regulations. Mozido’s fintech fraud fiasco. Virgin Hyperloop One’s utopian vision derailed by fraud. And others disappear forever.

Fraud 78

Fraud Las Vegas Company Video 78

PYMNTS

MARCH 6, 2019

” Accounting strategies can not only boost transparency for regulators and visibility for a firm’s own leadership, but regulators say they can also promote security. Last October, the U.S. ” Meanwhile, previous research from Audit Analytics has also revealed that the number of accounting errors among the U.S.’s

Report 139

Report Leadership Regulation California 139