Perficient

DECEMBER 14, 2023

One of the examples is managing the 12-b1 fees, which are marketing and distribution costs in mutual funds. These fees are often unclear and fluctuating, creating significant administrative burdens for firms managing multiple funds. Identification of invoice exceptions to prevent fraud.

Training 221

Training Strategy Exercises Data 221

Perficient

DECEMBER 14, 2023

One of the examples is managing the 12-b1 fees, which are marketing and distribution costs in mutual funds. These fees are often unclear and fluctuating, creating significant administrative burdens for firms managing multiple funds. Identification of invoice exceptions to prevent fraud.

Training 221

Training Strategy Exercises Data 221

PYMNTS

SEPTEMBER 29, 2020

An EY whistleblower has alleged the global accounting firm was warned as far back as 2016 that senior managers at Wirecard may have committed fraud and one had tried to bribe an auditor, the Financial Times (FT) reported.

Fraud 189

Fraud Report Management Company 189

PYMNTS

JULY 23, 2019

China’s banking regulator is introducing stricter requirements on banks and insurance institutions that provide supply chain financial solutions in an effort to curb fraud, according to China Daily reports last week. Noah, however, claims that it had verified all documentation with JD.com. JD.com, Suning.com Spark Concerns.

Fraud 128

Fraud Regulation Report Management 128

PYMNTS

DECEMBER 21, 2020

with money laundering, fraudulent banking and computer fraud, Reuters reported. “It This allows you to speed up the process of obtaining guarantees by the beneficiary and reduce the paper document flow. Italian police charged the former head of cryptocurrency exchange BitGrail, identified by the initials of “F.F.,”

blockchain 206

blockchain Bitcoin Fraud Report 206

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. The emergence of modern alternatives to traditional credit scoring signifies a broader movement toward financial inclusion.

Trends 221

Trends Industry Analytics Compliance 221

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. mail, Craig said.

Fraud 195

Fraud Lending Taxes Regulation 195

Abrigo

AUGUST 7, 2023

Assessing and preparing for staffing needs AML and fraud compliance is an essential obligation for financial institutions. By performing a thorough staffing assessment of your AML and fraud teams, you understand the resource needs to meet all quality and regulatory expectations. Begin with an outline of each member of your AML team.

Training 195

Training Fraud Leadership Resources 195

PYMNTS

SEPTEMBER 28, 2020

Smooth B2B operations depend on robust data gathering, but many companies rely on manual methods to collect information and complete supplier enrollment. Preventing crime also includes thwarting tax fraud, and companies must obtain certain details to fulfill their tax reporting responsibilities. Keeping Up With Data Demands.

Data 166

Data Management Taxes Meeting 166

FICO

JANUARY 25, 2021

Customer identity management is a term that is subject to a number of definitions. The goal of CIM is to meet regulatory rules and legislation, prevent fraud and financial crime, and manage risk—all while making it simple for customers to transact. Customer identity management operates today in an unpredictable environment.

Management 98

Management Fraud Customer Experience Compliance 98

Gonzobanker

MARCH 6, 2020

Addressing common loan and deposit operations process inefficiencies can help financial institutions deliver optimized value to customers and stockholders. In recent years, many financial institutions have been focused on improving their digital delivery capabilities, often at the expense of their operational groups.

Operations 91

Operations System Groups Technology 91

Abrigo

OCTOBER 15, 2020

Key Takeaways Economic relief payments are often subject to fraud – PPP is no exception. BSA Officers should be aware of PPP red flags to identify potential fraud. Economic relief payments are often subject to fraud, and the Paycheck Protection Program (PPP) is no exception. Other PPP Fraud Indicators.

Fraud 150

Fraud Lending Los Angeles Taxes 150

PYMNTS

JUNE 17, 2020

The military’s need for tracking its multi-part, expensive operations has only increased with the introduction of 3D printing, according to Coindesk. The goal of using blockchain is to hopefully cultivate a reliable source of information, documenting every data point necessary to keep track of the supply chain.

blockchain 132

blockchain Fraud Indiana Bitcoin 132

PYMNTS

MARCH 4, 2020

The paperwork and delays that employee expenses generate can strain any business’s operations. The firm is also deploying data analytics as well as fuel cards to improve its fleet management efforts. Such hazards may be especially consequential for companies that consumers rely on during and after crises.

Management 141

Management Technology Analytics Resources 141

Perficient

APRIL 2, 2021

fraud detection and financial crime monitoring). email, text, audio data), with the aim of identifying fraud or anomalous transactions. AI technologies, such as voice recognition and natural language processing (NLP), are being used to improve customer experience and to gain operational efficiencies. Risk Management.

Regulation 309

Regulation Industry Risk Management Analysis 309

PYMNTS

JANUARY 27, 2020

Growing attack-related expenses force businesses to remain vigilant against emerging threats, including phishing and other types of fraud that their own employees may willingly or unwillingly perpetuate. Other fraud attempts targeting workplaces are no less dangerous. Fighting the Phishers. Ensuring Secure Workplace Practices.

Fraud 249

Fraud Policies Security Resources 249

PYMNTS

JULY 19, 2020

Wirecard AG’s accounting firm said an independent report failed to account for half of the German payment company’s revenue and all its operating profit, the Financial Times (FT) reported. . According to our view, the topic of third-party acquiring needs to be put in an overall context,” they wrote, according to a document seen by FT. .

Report 154

Report Fraud Operations Payments 154

FICO

MARCH 1, 2022

Fiserv, a leading global provider of payments and financial services technology solutions, has developed a new fraud mitigation service that has reduced fraud losses, which were already low by industry standards, by 10 to 15% for its small to midsize credit union and bank clients. Keeping Up With The Fraudsters.

Fraud 52

Fraud Analytics Cards Tools 52

PYMNTS

OCTOBER 4, 2020

Nonprofit Nacha , which enables Automated Clearing House ( ACH ) payments, has adopted eight new amendments to the Nacha Operating Rules that a press release said will help to modernize the payment style. Last year, it managed 24.7 In addition, the new rules make explicit which scenarios are not appropriate for reversing ACH payments.

Payments 283

Payments Resources Technology Fraud 283

PYMNTS

SEPTEMBER 8, 2020

949 gigabytes of confidential data have been accessed by ransomware attackers targeting IT distributor Ma Labs , reports in CRN said, an attack that has stalled the company's operations and left its customers in limbo. 1 million was stolen from the City of Industry via invoice fraud, claims officials in the California city.

Company 174

Company Los Angeles Fraud Data 174

Abrigo

MAY 15, 2020

Key Takeaways Like other federal relief programs, the PPP has become subject to fraud. The first federal charges of PPP loan fraud have been made – and they're unlikely to be the last. From 9/11 to Hurricane Sandy, and now, during COVID-19, federal relief funds aimed to help people rebuild after a disaster becomes subject to fraud.

Lending 195

Lending Rhode Island Fraud Los Angeles 195

PYMNTS

JUNE 8, 2020

The scheme by the “Modern Money Team,” as Putnam referred to the entire operation, was reportedly to offer investors “cryptocurrency trading packages” they had purchased, which could have ostensibly been used for “arbitrage” opportunities at Bitfinex. The group managed to get $12 million from 2,000 investors, Coindesk reports.

blockchain 131

blockchain Analytics Utah cryptocurrency 131

PYMNTS

SEPTEMBER 6, 2018

6), the Justice Department has opened an investigation into possible fraud committed at the company’s wholesale banking unit. The alleged document mishandling occurred late last year and into early 2018, said WSJ. As The Wall Street Journal reported on Thursday (Sept.

Fraud 102

Fraud Operations Security Groups 102

Abrigo

JUNE 10, 2020

The former Chief Operational Risk Officer was fined for insufficient action on AML program deficiencies and staffing issues. Adequately staffed and risk-focused AML resources with good documentation are critical. Ensure good documentation. The recent $450,000 fine of U.S. Focus BSA/AML resources on risk. In the U.S.

Resources 195

Resources Regulation Compliance Policies 195

PYMNTS

JANUARY 27, 2020

New analysis from Bank Info Security , for instance, revealed that BEC scammers have begun to target corporates’ financial documents from accounts receivable departments to identify unpaid invoices, as well as information regarding Days Sales Outstanding and clients.

Fraud 178

Fraud Analysis Cards Texas 178

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.

Fraud 100

Fraud Compliance Security Industry 100

South State Correspondent

MARCH 21, 2023

To solve this problem, our CPA and processing firms established a database of government mandates and supply chain disruptions to document COVID’s impact. The Risks of Processing ERC There are three material risks associated with this operation – headline, reputational, and operational. The largest risk is headline risk.

Taxes 195

Taxes Community Bank Community Operations 195

PYMNTS

NOVEMBER 11, 2019

Governments are tightening know your customer (KYC) and anti-money laundering (AML) requirements on various industries out of increasing concern over fraud threats. System integration provider NEC XON is also looking into biometric KYC for mobile network operators and financial institutions (FIs). How Zillow Co mbats Real Estate Fraud.

Video 161

Video Fraud Compliance Security 161

Abrigo

MAY 19, 2023

There is a well-documented shortage of junior reviewers, which means loan review units need to recruit people short on education, training, and experience. Loan review management needs to scale back its expectations of pre-existing skills for new recruits and to take on more responsibility for training its own.

Training 195

Training Lending Risk Management Guidelines 195

PYMNTS

AUGUST 10, 2020

Identity fraud is nothing to play around with, but you wouldn’t know that given its prevalence in the online gaming sector. Biometric identity verification is proving perhaps the best weapon we have to defend against the synthetic frauds and deep fakes that are starting to dominate cybercrime. “By billion in revenues and engage 2.7

Fraud 142

Fraud Online Security System 142

PYMNTS

JANUARY 29, 2020

Manual payroll processes require employees to submit paper receipts and fill out paper expense reports, generating an annual pile that SMBs must manage before April 15. Paper expense reports also leave SMBs vulnerable to fraud — intended or otherwise — from their employees, something they may not realize in time.

Taxes 141

Taxes Fraud Tools System 141

PYMNTS

OCTOBER 24, 2018

Fraud is a huge consideration for us,” Bonkowski said. For Tern Commerce, clearing those hurdles previously meant manually reviewing identity documents and other credentials, which is both expensive and time-consuming. From an operational standpoint, a big part of it was about trying to drill down on the cost.”.

Fraud 166

Fraud Cards Online Data 166

PYMNTS

SEPTEMBER 7, 2016

” Cash management, of course, is vital for any industry. But in such a high-value industry as oil and gas, which also operates with complex supply chains, spend visibility can be tricky. The data from these digital documents, Weiss said, is key in this initiative, and what to do with that data is top-of-mind for industry players.

Management 100

Management Industry Course Operations 100

Abrigo

DECEMBER 1, 2020

Lenders also have five business days to respond to the notice received in the inbox by uploading the standard loan review documentation requested in the notification, according to the instructions. Fraud Prevention. Fraud Prevention. Leading a Successful Software Implementation: Best Practices for Optimizing Change Management.

Lending 195

Lending Resources Groups Analysis 195

PYMNTS

JULY 15, 2019

billion is estimated to have been lost to cryptocurrency scams, thefts and fraud in the first quarter of 2019, and cybercriminals and scammers are not the only ones putting digital asset users at risk. Thwarting fraud and making usage as secure as possible are key concerns for Canadian trading platform Bitbuy. Facing Fraud.

cryptocurrency 193

cryptocurrency Fraud Security Bitcoin 193

PYMNTS

JANUARY 23, 2020

Every day is now a delivery day at FedEx,” Raj Subramaniam, president and chief operating officer at FedEx, said in a statement, announcing expanded home delivery to include Sundays. Worldpay On Modernizing Security Defenses To Foil eCommerce Fraud. FedEx Officially Launches Sunday Delivery. DocuSign Wages War On Phishing.

Fraud 131

Fraud Community Bank Analytics Study 131

PYMNTS

FEBRUARY 25, 2020

Businesses want fast, convenient and cost-effective financial management systems, so many opt for cloud-based solutions rather than those that exist on-premises. According to research, approximately half of businesses will use cloud-based financial management systems by 2022. Using Data to Optimize Operations.

System 153

System Operations Management Data 153