PYMNTS

DECEMBER 13, 2019

Platforms are doubling down on security in the wake of embarrassing data breaches and steady consumer fraud complaints, but it’s a fluid situation. Outdoorsy is a P2P marketplace that views regulators as partners rather than pests. The homesharing pioneer has since dealt with the problem by tightening up scam detection.

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PYMNTS

JULY 26, 2020

The Securities Commission Malaysia (SC) is planning to expand regulations to encompass digital asset wallet providers, adding to its frameworks that currently address Digital Asset Exchanges (DAX) and Initial Exchange Offering (IEO), the SC announced Thursday (July 23). “The Bitcoin is these things,” Chief Judge Beryl A.

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PYMNTS

APRIL 25, 2019

This is especially true in areas like the European Union, where the General Data Protection Regulation ( GDPR ) is changing how customers and corporates approach data sharing. Security and the Homesharing Platform. The company also works with several security providers to ensure users’ payments remain safe.

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PYMNTS

JUNE 2, 2020

The world of payments processing will be a very different place by the end of 2020 than it was at the beginning — one where securing transactions will take on a new priority for merchants and consumers alike. Barclays Transact aims to help merchants make online transactions simpler, safer and compliant with the upcoming SCA regulations.

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PYMNTS

MAY 10, 2016

But Tungsten Head of Compliance Lucy Ashdown offered her take on the company’s research to discuss why FinServ firms might be seeing more invoice fraud than other industries. officials to combat fraud, Ashdown also discussed who carries the torch of responsibility when it comes to fighting this kind of security lapse in the enterprise.

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PYMNTS

MAY 15, 2018

The Central Bureau of Investigation (CBI), India’s main investigative agency in the country, has filed charges in the Punjab National Bank fraud case against Nirav Modi, the jewelry retail owner, and his uncle Mehul Choksi, as well as senior executives at the state-run lender.

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FICO

NOVEMBER 30, 2017

In my previous post on application fraud, we explored the drivers behind the rapid acceleration of identity-based fraud , which includes identity theft / third-party fraud, synthetic identity fraud, and first-party fraud. Managing fraud is a balancing act that starts with knowing your fraud risk appetite.

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Abrigo

FEBRUARY 8, 2022

Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. Stay up to date on regulations affecting NBFIs and other BSA trends. Below are 10 things NBFIs should do to ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators.

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PYMNTS

JUNE 29, 2016

While security development continues to get more sophisticated, fraudsters keep getting smarter. As a result, fraud prevention and security must be — and is — a top concern for digital companies. According to recently released research from PYMNTS , fraud attacks are on the rise, up 215 percent year over year.

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PYMNTS

JANUARY 29, 2020

The government’s policy and its regulations should be well known before enforcement happens, the policy said. said that national policy might not be enough in terms of crypto regulation. . “We Public statements, whether through the press or formal speeches, are helpful but are not official statements of application by the agency.

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PYMNTS

JUNE 8, 2016

regulators issued a stern warning to banks to be on the lookout for cyberthreats in the aftermath of the Bangladesh cyberheist , where $81 million was taken without a trace from the central bank’s account at the NY Fed. On Tuesday (June 7), U.S. He has knowledge of the case but has not been directly involved.

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CFPB Monitor

JULY 6, 2021

The Priorities have been much-anticipated because, under the AML Act, regulators will review and examine financial institutions in part according to how their AML/CFT compliance programs incorporate and further the Priorities, “as appropriate.”. A prime example of this problem is the inclusion of “fraud” as a Priority.

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United States Fraud Regulation Compliance 78

FICO

DECEMBER 15, 2020

It is true that the pandemic has accelerated the majority of digital trends and challenges this past year; I believe the “COVID effect” will persist strongly into 2021, which brings me to three broad predictions: Consumer spending patterns will remain in flux, requiring financial institutions to keep their guard up as fraud patterns change quickly.

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PYMNTS

OCTOBER 24, 2018

Fraud is a huge consideration for us,” Bonkowski said. Many countries have their own know-your-customer (KYC) and anti-money laundering (AML) regulations, and there was no consistent formula for regulatory and commercial success. The Future of Fraud Protection. It’s really one of the biggest hurdles we need to jump over.”.

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FICO

JANUARY 25, 2021

Customer identity management is a term that is subject to a number of definitions. I will define it here for financial services and regulated companies as the business strategy and processes by which an organization establishes who a customer is and ensures that activity on their accounts is carried out by them. Fraud prevention.

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PYMNTS

APRIL 20, 2018

To add complication to complexity, changes that many see as regional, such as the second payment services directive (PSD2) in Europe, will have ripple effects across the global regulatory landscape, impacting business, cross-border commerce and fraud mitigation the world over. The Bottom Line. Unintended Consequences.

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Independent Banker

OCTOBER 1, 2022

But as the prevalence of security breaches grows, so do the opportunities for community banks to position themselves as guardians of their customers’ personal data through compliance, technology and relationship building. Data privacy and security is a hot topic and is only getting hotter. By Katie Kuehner-Hebert. Bob Hickok.

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PYMNTS

APRIL 30, 2018

The deadlines for compliance with new European data regulations are right around the corner, and the impact of these changes won’t be limited to the European Union. The General Data Protection Regulation (GDPR) goes into effect on May 25 of this year. According to Ethoca, neither should preparations for the shift.

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Fraud Regulation Data Compliance 138

PYMNTS

DECEMBER 5, 2018

The company was made aware of the attack in September, after an alert from an internal security tool. There are definite consequences for the company. The breach affected Starwood Hotels and Resorts, which Marriott bought in 2016 for $13.6 Hackers went after credit card and passport numbers and loyalty account information. “Any

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PYMNTS

MAY 15, 2018

The Pros and Cons of Standard Security Choices. Beyond the static password, there are a few methods that organizations have been implementing in recent years to try to stay ahead of the fraud problem. Plus, data breaches have left a lot of those security responses exposed. A Portrait of IDV Nirvana.

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NCR

DECEMBER 2, 2016

This is clearly an area with huge potential for growth and innovation, but as more and more financial institutions (FIs) jump on the biometrics bandwagon, one of the big concerns for law enforcement agencies and regulators will be the evolving threat of fraud. This is a significant milestone in the evolution of payments.

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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.

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PYMNTS

JANUARY 3, 2020

Take a core business function – payments, for example – and then make it lightning-fast, less expensive and secure. It’s been definitively shown that businesses and individuals will pay reasonable fees or percentages to receive their funds instantly. Making Money Fast. Want to make a CFO smile? But that’s just the beginning.

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PYMNTS

OCTOBER 7, 2019

Identity security is key when it comes to protecting financial information, and it can be devastating if sensitive documents from credit checks fall into the wrong hands, making authentication critical. government has strict standards regarding credit check regulations, and Nav’s investor and partner Experian sets its own expectations.

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PYMNTS

MAY 13, 2019

Fraudsters intercept the one-time PINs and passwords that pass for security in today’s world. “If If you look at all the security problems out there (everything involving the internet, breaches, malware on your operating system), the internet and the operating system are inherently insecure. You should not rely solely on biometrics.

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ATM Mobile Security Online 134

PYMNTS

OCTOBER 3, 2016

Securities and Exchange Commission to investigate the disclosure action taken by Yahoo’s executives. In 2011, publicly traded companies were instructed by the SEC to report attacks that could have a “material adverse effect on the business;” however, there was no strict definition of such events. Yahoo claimed on Sept. This week, Sen.

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FICO

SEPTEMBER 4, 2017

Worried about increasing levels of fraud, particularly in remote payments, the regulators have made fraud prevention a cornerstone of PSD2. The regulated use of Strong Customer Authentication (SCA) by payment service providers (PSPs) to secure payments is laid out in the Regulatory Technical Standards for PSD2.

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PYMNTS

MARCH 25, 2019

Cohen described the numbers tied to ill-gotten gains as “eye-opening and [likely to] raise flags for the regulators. One microcosm of fraud and regulatory scrutiny is cryptocurrencies. The Crypto Factor. A Tech and Mindset Shift. Perhaps easier said than done.

cryptocurrency 196

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Abrigo

MAY 12, 2022

Protect your financial institution from cybercrime With cybercrime constantly evolving, what can businesses and financial institutions do to prevent fraud? Cybercrime is a threat to businesses and institutions of all sizes and is at the forefront of the minds of those in the fraud prevention field. These measures can help.

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PYMNTS

MARCH 24, 2017

In short, the definition ties in with “some type of crime relating to trust.”. Efforts to combat fraud must therefore involve to an enterprise-wide discussion, not solely limited to payments professionals and panels. The roster of players here can extend across the organization from both insiders and external culprits, she continued.

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FICO

DECEMBER 10, 2020

By definition, analytic microservices offer succinct functionality, with well-defined application programming interfaces (APIs) for easy integration into enterprise applications, an execution engine and, of course: A strongly enforced API. Prediction #4: “Security by Design” Will Help Fend Off AI Attacks.

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PYMNTS

MARCH 13, 2017

News Friday (March 10) that the Securities and Exchange Commission (SEC) nixed a proposed rule change that could have given rise, sooner rather than later, to a bitcoin exchange-traded fund (ETF) took the wind out of the proverbial sales (pun intended) or the proverbial luster off the virtual currency for a spell. . Is a bitcoin ETF DOA?

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PYMNTS

DECEMBER 1, 2017

At the time, Uber – at the directive of its chief security officer – hid the breach and paid hackers about $100,000 to destroy the data. The ride-sharing company said that no Social Security numbers, credit card information, trip location details or other data were taken. Privacy regulators for the European Union said Wednesday (Nov.

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New York Data Regulation Washington 144

BankBazaar

APRIL 27, 2020

The CKYC is managed by CERSAI (Central Registry of Securitization Asset Reconstruction and Security Interest of India). Additional Reading: How To Protect Your Money From Digital Banking Frauds. Enter the security code displayed. What is the difference between KYC, eKYC and CKYC? Enter your PAN. Explore BankBazaar.

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PYMNTS

JANUARY 28, 2019

Criminals are executing carding fraud and getting money in and out of the Fortnite system with relative impunity,” said Benjamin Preminger, a senior intelligence analyst at Sixgill. According to a reports, the antitrust-regulating European Commission has been working for some time to stamp out fees that U.S. percent, down from 2.89

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PYMNTS

APRIL 3, 2020

AP professionals face a lot of inefficiencies and challenges when attempting to manually track tax regulations, collect the appropriate tax forms or even ensure that the financial institutions through which they make payments are not on any sanctions lists. A Payments Balancing Act. High-Growth, High Complexity.

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PYMNTS

JULY 11, 2016

“They definitely see the writing on the wall that the world is moving in this direction.” Protecting the funds and the data behind transactions completed via distributed ledger technology will surely be front and center with regulators at some point. “Everyone has concerns about technology in general,” he noted.

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