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

Perficient

DECEMBER 27, 2023

Navigating AML and OFAC Compliance Risks Regarding anti-money laundering (AML) and Office of Foreign Assets Control (OFAC) compliance risks, bank executives must navigate operational and compliance challenges tied to fintech relationships. Other, traditional financial crime risks, especially fraud, continue to demand banks’ vigilance.

Compliance 221

Compliance FDIC Regulation Fraud 221

PYMNTS

NOVEMBER 4, 2020

Ant Group has been stopped in its tracks, but the regulatory scrutiny the firm is facing may have ripple effects throughout the FinTech realm, and well beyond whether they will (or can) list on public exchanges. 5), and a meeting with company executives and company Co-Founder Jack Ma discussed changes in the FinTech regulatory environment.

Fintech 175

Fintech Regulation Survey Report 175

Abrigo

JUNE 12, 2023

The money transmitter industry is growing, spiked by advances in fintech and the consumer demand for immediate payment mechanisms. Streamlined compliance : Compliance with varying state regulations significantly burdens money transmitters. alone, handling $6 trillion in payments. alone, handling $6 trillion in payments.

Compliance 195

Compliance Fraud Regulation Guidelines 195

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

AUGUST 20, 2020

A multitude of SMB investors are looking to help, but lending to digitally focused SMBs comes with its own hurdles, including fraud risks and inefficient lending procedures driven by stiff regulatory measures. One of the most pressing issues plaguing SMB lenders is the risk of fraud. Fraud targeting SMB lenders has increased by 7.3

Fintech 177

Fintech Fraud Lending Regulation 177

PYMNTS

JANUARY 23, 2020

5AMLD’s impacts include strengthening anti-money laundering (AML) and counter-terrorist financing (CTF) regulations in the cryptocurrency space — something that has not pleased all the affected crypto companies. Worldpay On Modernizing Security To Foil eCommerce Fraud. Around The AML/KYC World. Get the full story in the Tracker.

Fraud 157

Fraud Security Regulation cryptocurrency 157

PYMNTS

JULY 15, 2020

Judges dismissed a civil suit that alleged Wirecard of fraud weeks after the company filed for insolvency in a Munich court. The judge also found that the involvement of the Mauritius’ Emerging Markets Investment Fund (EMIF) was not a reason to suspect fraud. “As Still, this is not the end of troubles for Wirecard.

Fraud 160

Fraud Taxes Groups Compliance 160

PYMNTS

OCTOBER 6, 2020

Singapore-based FinTech platform Nium is expanding into the Middle East, the company announced on Monday (Oct. FinTech across the Middle East is also set to grow at a compounded annual growth rate of 30 percent, and expected to raise over $2 billion in venture capital funding by 2020.".

Fintech 174

Fintech Regional Fraud Meeting 174

CFPB Monitor

SEPTEMBER 8, 2022

Since the beginning of Michael Hsu’s tenure as Acting Comptroller of the Currency, bank/fintech partnerships have been a focus of OCC concern. Mr. Hsu also raised concerns about unknown risks or “nasty surprises” arising out of bank-fintech arrangements.

Fintech 146

Fintech Risk Management Conference Lending 146

Independent Banker

JANUARY 31, 2022

With consumer expectations seeming to evolve faster every year, community banks could consider partnering with a fintech to keep up with technological innovation. of bankers are either strongly interested in or already working with fintechs in digital account opening. The benefits of fintechs. By Elizabeth Judd. Quick Stat.

Community Bank 159

Community Bank Community Fintech Risk Management 159

PYMNTS

MAY 22, 2019

Faced with a growing number of transactions to process in real time, payment service providers (PSPs), financial institutions (FIs) and FinTech firms also need to make sure the security of these smarter payment systems is up to par. Regulators in regions such as Europe are changing the ways they look at cross-border transactions.

Fraud 180

Fraud Payments Regulation Security 180

PYMNTS

MARCH 12, 2019

Among the latest headlines swirling in FinTech: Digital bank Revolut, based in the United Kingdom, has taken on an adviser, along with filling new positions, to bolster compliance teams at the firm. The data can help these companies make informed decisions about money laundering and potential fraud risk. In the U.K.,

Regulation 148

Regulation Fraud Examples Data 148

South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. Unfortunately, most banks don’t gather fraud data across payment channels or track “pre-crime events.”

Conference 195

Conference Payments Fraud Data 195

PYMNTS

OCTOBER 3, 2019

Though fraud technology has evolved to combat the monster of payments fraud, there is a growth threat for banks that innovators are also paying attention to as financial institutions (FIs) increase their appetite for such tools. percent of overall revenue to lending fraud, compared to as much as 5.8 percent for smaller banks.

Fraud 158

Fraud Lending Technology Survey 158

PYMNTS

SEPTEMBER 19, 2019

This has become a larger problem for FIs as they must not only deal with protecting customers from fraud, but also guard against bad actors armed with 4.1 Account opening fraud is a favorite tactic among such cybercriminals, many of whom rely on these credentials to pose as legitimate customers. billion stolen credentials.

Fraud 144

Fraud Data Mobile Tools 144

Bank Innovation

SEPTEMBER 27, 2017

Fintechs are partnering with banks, banks are using blockchain technology, artificial intelligence, and cryptocurrency and financial regulation is still undergoing massive changes. 2017 has been a […].

Innovation 360

Innovation cryptocurrency blockchain Fraud 360

PYMNTS

JUNE 5, 2020

Financial Institutions (FIs) that adopt open banking allow third parties like FinTechs to integrate with their application programming interfaces (APIs) to provide personalized financial management and payment apps that draw on bank customers’ data. We need to manage risk appropriately, but open banking is a good thing,” Davies said.

Security 174

Security Fintech Data Fraud 174

PYMNTS

JUNE 24, 2020

Against a backdrop where CNP transactions are up 80 percent, a success rate of only a few percentage points can yield a lucrative fraud scheme. CNP fraud, Nolte said, has become a numbers game. It’s scalable and can be done from anywhere — and you can buy things from anywhere on the planet,” he said.

Fraud 262

Fraud Security Cards Course 262

PYMNTS

JUNE 24, 2019

While banks continue to open their application programming interfaces (APIs) to third-party providers and FinTech firms, many are still in the dark when it comes to SCA. Meanwhile, banks across the EU are confronting other changes to banking and data, including the ways they tackle fraud. Around the PSD2 and GDPR Worlds.

Fintech 161

Fintech Regulation Compliance Data 161

American Banker

MARCH 5, 2024

False transaction disputes and other individual-level financial fraud cost the industry billions. It's time to join forces and even the odds.

Fraud 45

Fraud Data Fintech Industry 45

South State Correspondent

OCTOBER 26, 2023

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. Fraud & Identity: By far, the largest number of vendors and conversations were over fraud and identity.

Conference 221

Conference Las Vegas Fraud Case Study 221

PYMNTS

JULY 25, 2019

Customers have varying banking needs, but the global fraud phenomenon tends to have equal impacts. Challengers see fraud protection as especially important, particularly as they attempt to ween customers away from legacy FIs and their own nimbler FinTech competitors. Bringing a global fraud approach to a new local market.

Fraud 164

Fraud Marketing US Resources 164

PYMNTS

JUNE 6, 2019

Business consultancy CGI has announced a collaboration with invoice payments FinTech Ordo to develop a service that combats fraud for both payers and payees. A key focus of the collaboration is fraud and data security, the firms noted. ’s open banking regulations have presented for securing data.

Fraud 122

Fraud Payments Security Data 122

Abrigo

MARCH 7, 2022

Experts weigh in on regulatory hot topics for 2022 Review these 10 insights into what regulators are looking for in 2022 to help your financial institution pass exams with flying colors. Takeaway 1 Regulators have increased their focus on BSA in the first quarter of 2022, and the crisis in Ukraine will put OFAC in the spotlight.

cryptocurrency 195

cryptocurrency Regulation Fraud Policies 195

PYMNTS

JULY 31, 2018

Loosening federal regulations, enacting national data breach protections and drafting “model laws” at the state level to reduce overlapping red tape, could help promote FinTech in the United States, according to report released Tuesday (July 31) by the U.S. FinTech Growth. Treasury Department. financial technology efforts.

Fintech 194

Fintech Security US United States 194

Payments Source

JULY 19, 2020

Securities laws, in spite of their shortcomings, exist for very good reasons: To regulate the fair exchange of units of ownership, to protect individuals from fraud or exploitation, and to identify bad actors and hold them accountable.

Regulation 90

Regulation Security Fraud cryptocurrency 90

PYMNTS

JULY 21, 2020

s FinTech sector. Independent Panel To Review UK’s FinTech Sector. s FinTech sector is planning a review of the industry to identify opportunities for growth. Radius Bank: Becoming Partners In Crime Prevention Can Help FIs Beat Fraud Rings. In today’s top news, Adevinta agrees to buy eBay’s classifieds division for $9.2

Fintech 140

Fintech Groups Payments Mobile 140

PYMNTS

SEPTEMBER 6, 2018

For FinTech firms, doing the chasing all on their own is a losing proposition. SaaS, the distribution model where providers offer a central location for their customers, can offer FinTech firms a way out of inefficient processes, say some supporters. FinTech firms can browse and research what they need and pick it up on the fly.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

PYMNTS

JANUARY 29, 2021

The company started by processing payments for gambling and pornography before becoming a fast-growing FinTech. Wirecard’s downward spiral brought attention to BaFin’s inability to detect the fraud despite many warnings. Suggestions that Hufeld should step down came to a head on Thursday (Jan.

Regulation 141

Regulation Leadership Risk Management Fraud 141

PYMNTS

JANUARY 10, 2018

Oversight Systems has updated its Insights On Demand software-as-a-service (SaaS) solutions to provide managers with quicker ways to identify expense report fraud. businesses lose $1 billion every year due to employee expense fraud. The solutions help companies remain compliant with regulations like the U.S.

Fraud 100

Fraud Tools Policies Risk Management 100

FICO

OCTOBER 7, 2022

Buy Now, Pay Later: BNPL Fraud and Regulatory Update. Buy now, pay later or BNPL financing is experiencing tremendous growth, but that growth can bring potential growing pains like fraud and regulatory scrutiny. As payments professionals well know, change creates opportunities for fraud. So is regulation. by TJ Horan.

Fraud 52

Fraud South Carolina San Francisco Regulation 52

PYMNTS

JULY 27, 2018

watchdog in charge of investor oversight proposed tough new regulations regarding peer-to-peer (P2P) lending platforms, in a bid to help consumers wade through the new landscape, according to a report by Reuters. has also sought clarity on regulations as a means to better compete against established banks.

Lending 102

Lending Regulation Fintech Study 102

Abrigo

MARCH 11, 2022

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. Takeaway 3 NBFIs should review common deficiencies in AML programs that regulators are citing and fix issues before their next audit or exam.

Regulation 195

Regulation cryptocurrency Policies Management 195

PYMNTS

SEPTEMBER 23, 2020

Financial crime is a pervasive threat to banks, credit unions, FinTechs and other financial institutions (FIs) the world over. A recent study from PwC found that 47 percent of companies had experienced fraud at least once in the past two years, with a grand total of $42 billion in funds stolen over this period of time.

Technology 208

Technology Report Fraud Study 208

PYMNTS

DECEMBER 29, 2016

FinTech Continues Its Disruption. Traditional banks have continued their sloth-like pace in FinTech adoption, added Galarza, which has led corporates to seek innovative services from non-bank players. “In Fraud Prevention Remains Paramount. So, what can corporates expect from their banks in 2017? But Banks Continue To Thrive.

Security 181

Security Fintech Boston Fraud 181

PYMNTS

OCTOBER 16, 2019

Germany-based Wirecard is once again facing allegations of accounting fraud by the Financial Times (FT). Earlier this year, the Financial Times published separate reports accusing Wirecard of accounting fraud, which the payments company also vehemently denied. Previous Allegations.

Fraud 111

Fraud Payments Report Operations 111