PYMNTS

OCTOBER 29, 2018

While these initiatives are spurring more focused financial services innovations, they also come with challenges. These initiatives could also lead to an increase in security risks, since sharing data among a range of financial service providers creates new opportunities for it to fall into the wrong hands. Protecting APIs.

Security 192

Security Fraud Tools Data 192

Perficient

FEBRUARY 29, 2024

Explore and integrate alternative data sources and innovative scoring models to offer fairer assessments of creditworthiness. To address this, institutions are increasingly turning to technology-driven solutions aimed at enhancing service reliability, compliance, and security.

Trends 221

Trends Industry Analytics Compliance 221

PYMNTS

OCTOBER 16, 2020

Numerous quick-service restaurants (QSRs) have deployed these technologies to support their operations, tailor their customer service approaches and even boost sales, but many players, including several big names, have been reluctant to invest in such innovations. How AI Can Aid In Fraud Detection, Sales.

Analytics 273

Analytics Data Fraud Tools 273

PYMNTS

MAY 9, 2019

A popular photo app called Ever, which was ostensibly used for cloud storage of photos, has been using customer pictures to train facial recognition AI software, according to a report by CNBC. Some users were not aware their photos were being used to train an artificial intelligence program.

Training 116

Training Software California Video 116

Insights on Business

OCTOBER 3, 2018

IBM RegTech Innovations. These technologies bring capabilities that speed risk modeling, automate fraud detection, ensure regulatory compliance, enable distributed trust, and protect sensitive financial information. We have developed a new approach to detecting financial crimes and fraud using graph analytics and machine learning.

Industry 155

Industry Innovation blockchain Compliance 155

PYMNTS

AUGUST 23, 2019

Security and compliance are also vital components in ensuring that payments are delivered safely and without delay. In her view, financial institutions are indeed coming together to share common compliance concerns, and in doing so, are working openly to create innovative solutions and put the pieces together.

Compliance 192

Compliance Security Payments Community 192

Abrigo

JANUARY 4, 2023

Guidance for banks on the lookout for crypto scams and fraud The turbulent cryptocurrency scene should put bankers on high alert. Takeaway 1 Cryptocurrencies are the newest and most popular field in potential financial gains through fraud. But with increased popularity comes more opportunity for fraud. DOWNLOAD WHITEPAPER.

social media 195

social media Fraud cryptocurrency Trends 195

PYMNTS

APRIL 15, 2019

Not every innovation is a good innovation. Security solved. As it turns out, security researchers at Kaspersky Lab have found a darknet marketplace in which hackers are selling digital fingerprints. The fraud is fairly easy to pull off because it bypasses many existing controls for capturing it.

Fraud 129

Fraud Data Security Ohio 129

Abrigo

FEBRUARY 8, 2022

Takeaway 1 NBFIs are agile and innovative and are competing head-to-head with traditional financial institutions. NBFIs are agile and innovative and are competing head-to-head with traditional financial institutions. Periodic BSA training must be given to all employees of the NBFI. BSA Training. BSA Training.

Compliance 195

Compliance Training Regulation Fraud 195

PYMNTS

JUNE 17, 2020

Robert Farkas, the 33-year-old co-founder of crypto project Centra Tech , has pleaded guilty in court to conspiring to commit securities and wire fraud, Coindesk reported. The bank’s Islamic Research and Training Institute ( IRTI ) will be working with Samsung-backed blockchain provider BLOCKO.

blockchain 132

blockchain Fraud Indiana Bitcoin 132

Abrigo

APRIL 2, 2020

Key Takeaways Elderly persons are more susceptible to fraud during crises like the coronavirus pandemic. Train your frontline staff to recognize the red flags of potential elder financial abuse. What can you do to deter COVID-19 fraud? Front line staff, as well as BSA professionals, should be trained on EFE red flags.

Fraud 335

Fraud Resources Software Training 335

PYMNTS

OCTOBER 9, 2020

told PYMNTS that the FBI has found email fraud already costs businesses and individuals $3.5 And “IT departments” asking for passwords to help improve security while everyone works remotely is another, Reichel said. Leigh Reichel , new chief financial officer of cybersecurity firm INKY Technology Corp. Business Email Compromise.

Branding 292

Branding Fraud Software Security 292

Abrigo

MARCH 7, 2022

The world of FinCrime is more dynamic than ever, with fraud escalating thanks to an increase in mobile payments precipitated by the pandemic and security concerns rising over the Russian conflict in Ukraine. 2022 Regulatory Focus. Anticipating change in the anti-money laundering industry.

cryptocurrency 195

cryptocurrency Regulation Fraud Policies 195

Abrigo

JANUARY 8, 2020

Key Takeaways The most popular BSA/AML and fraud blog posts in 2019 related to staying on top of regulatory changes. Some BSA professionals are excited for the promise of added security around transaction monitoring and fraud, while others are worried about the lack of security it provides their jobs. Fraud Prevention.

Software 195

Software System Fraud Examples 195

PYMNTS

JUNE 13, 2019

But there’s a big problem in this realm — a shortage of cybersecurity experts, the people with the training and expertise to defend retail and payments from increasingly sophisticated online criminals. According to Kaplan, some 3.5 million cybersecurity jobs will need to be filled by 2021. Not only that, but just 4.2

Training 215

Training Online Maine Security 215

PYMNTS

OCTOBER 14, 2019

As the digital economy grows, you can bet that crowdsourcing will become an even bigger part of innovation and disruption, along with hiring and investment — all of which will serve to help build only new companies but vital digital infrastructure. One big recent example in favor of such points comes from Goldman Sachs. Paid To Go Home.

Training 187

Training United States Innovation California 187

PYMNTS

OCTOBER 24, 2017

Another day, another security breach. But, despite the disastrous news, there is reason for optimism in the fight against fraud. Over the past month, several providers debuted solutions to combat cyberattacks by employing new innovations and technology. Giving voice recognition a security boost.

Trends 115

Trends Security Fraud Michigan 115

PYMNTS

FEBRUARY 28, 2019

They must also excel at securely handling payments and personal data, while recommending services at the right moment to enhance transactions along the way. A job marketplace platform in India is looking to connect trained trade workers with employers. Airbnb on Payments, User Friction and Security Challenges in a Global Market.

Payments 183

Payments User Experience Training Case Study 183

Abrigo

JULY 16, 2021

Training: Ensure that front line and BSA staff understand the Priorities and typologies and red flags of each. financial system and national security. Historically, BSA has been criticized for being stagnant while criminals find new and innovative ways of moving illicit funds. BSA Training. BSA Training.

Community 195

Community Regulation Training Policies 195

Tech and Finance

MAY 18, 2018

SAS has created a new global Fraud and Security Intelligence Division to help organizations better detect and combat threats from fraudsters and hackers. The division will further focus and sharpen the SAS efforts to combat fraud and cybersecurity. Computers are better than people at analyzing fraud.

Fraud 28

Fraud Security Analytics Compliance 28

Abrigo

SEPTEMBER 11, 2023

While leaders must learn and stay informed about innovations, it’s helpful to remember in the process that they often result in life-changing improvements for our businesses and our consumers. Take the financial services industry as an example. The utilization of generative AI has sparked legitimate concerns about data security.

Risk Management 195

Risk Management Data Technology Fintech 195

Abrigo

NOVEMBER 2, 2021

This topic has continued to be emphasized by FinCEN throughout the years, as demonstrated by former FinCEN Deputy Director Jamal El-Hindi in a 2019 speech centered around national security concerns within our U.S. Evaluate BSA/AML processes for innovative technology needed for streamlining. BSA Training. Fraud Prevention.

Compliance 195

Compliance Regulation Resources Policies 195

PYMNTS

JANUARY 23, 2020

Local and state government agencies tend to approach innovation slowly and methodically, but careful vetting and execution have drawbacks for disbursement developments. The biggest challenge to faster digital payouts is fraud and identity theft,” Maxey said. We promote ACH payment processes to the payees. Agencies look to next steps .

Oregon 131

Oregon Tennessee Texas US 131

PYMNTS

AUGUST 8, 2019

Loyalty can be even trickier when consumer demand is well ahead of FI innovation — as is the case for credit unions, as documented by the Credit Union Innovation Playbook from PYMNTS. percent of CUs actively invested in loyalty and rewards innovations during the past three years. Fraud Concerns. Yet, only 29.4

Fraud 124

Fraud Innovation Customer Experience Branding 124

Abrigo

MARCH 11, 2022

Thanks to an increase in mobile payments precipitated by the pandemic and rising security concerns due to the Russian conflict in Ukraine, the world of financial fraud prevention is more dynamic than ever. Recently, the Secure and Fair Enforcement Banking Act of 2021 (SAFE Act) passed the house for the third time.

Regulation 195

Regulation cryptocurrency Policies Management 195

Abrigo

MAY 4, 2020

While many are minor application enhancements, some are bug fixes or critical cyber security enhancements that should be updated immediately. When your AML software is hosted with a secure vendor, they will handle all upgrades and service packs with seamless updates to your AML systems. Let your vendor do the work for you. Learn More.

Software 195

Software Cyber Security Security Community 195

PYMNTS

JUNE 6, 2019

Last month, the Small Business Administration (SBA) and the National Credit Union Administration (NCUA) announced a collaboration that aims to promote credit unions’ participation in the SBA small business lending program, via webinars and training events aimed at broadening the credit union sector’s small business lending efforts.

Lending 129

Lending Analytics Data Security 129

FICO

JANUARY 23, 2019

FICO recently hosted 60 banking fraud professionals from 33 organizations and 8 countries at its Asia Pacific Fraud Forum. Attendees were keenly interested in how artificial intelligence and machine learning continues to be a key technology in the fight against fraud and financial crime. Banking Fraud - The Need for Speed.

Fraud 40

Fraud Analytics Compliance Data 40

Abrigo

AUGUST 6, 2019

Financial criminals are working hard, using technology and innovation to their advantage, to stay one step ahead of FinCEN and financial institutions. Blanco discussed the organization’s active approach toward addressing the top financial threats to our financial system, our national security, and our communities and families.

System 264

System Las Vegas San Antonio San Diego 264

Abrigo

MAY 5, 2022

Using Data to Acquire, Engage, and Retain Banking Customers,” and “Customer Identity: Balancing Security and Seamless Banking Experiences.” Weekly episodes highlight innovators and industry players driving innovation in the financial services industry. BSA Training. Fraud Prevention. keep me informed. Learn More.

Community 195

Community Lending Maine Resources 195

PYMNTS

MARCH 22, 2016

Alexander, at PYMNTS’ Innovation Project 2016 last week at Harvard, gave a sobering reality check about the cybersecurity threats that could become an even scarier reality in the click of a button. “We are way behind,” Alexander told the crowd of innovators. And we can thank innovators and new technologies for that.

Fraud 100

Fraud Security Innovation Course 100

Abrigo

JANUARY 22, 2024

6 Steps t o mitigate fraud risk tied to new products Your AML and fraud teams' input is key when it comes to offering new bank products. You might also like this infographic, "Beyond immediate fraud losses: How the costs and impacts of fraud snowball." download NOW Takeaway 1 Fraud losses totaled $485.6

Fraud 222

Fraud Training Risk Management Software 222

Insights on Business

OCTOBER 10, 2017

Here is a preview of our focus at this year’s Sibos: Enterprise blockchain – IBM is leading the advancement of blockchain with many projects under way in financial services including foreign exchange payments netting , private equity administration , securities lending and trade finance.

blockchain 87

blockchain Customer Experience Compliance Fraud 87

Abrigo

JULY 12, 2021

This new guidance will assist countries and the private sector in understanding and documenting these risks and prepare accordingly for this serious threat to international peace and security. The review concluded that the revised FATF standards have fostered growth and innovation, while better protecting the international financial system.

Training 195

Training Policies United States Report 195

Abrigo

NOVEMBER 11, 2021

Monitoring this type of activity is where the keen eye of AML and fraud investigations professionals is crucial and where AML software can provide significant support. . This is a classic layering method using innovative technology. Fraud Prevention. Fraud Trends. FinCEN Guidance on Cyber Fraud – Video.

Fraud 195

Fraud cryptocurrency System Trends 195

Abrigo

NOVEMBER 11, 2021

Monitoring this type of activity is where the keen eye of AML and fraud investigations professionals is crucial and where AML software can provide significant support. . This is a classic layering method using innovative technology. Fraud Prevention. Fraud Trends. FinCEN Guidance on Cyber Fraud – Video.

Fraud 195

Fraud cryptocurrency System Trends 195

PYMNTS

JUNE 18, 2018

So are mobile and fraud alerts. That is another “small incremental thing” that, when combined with transaction alerts and the ability to monitor account changes in real time, gives customers a strong sense of confidence that they are protected against fraud. Data collection is vital.

Fraud 110

Fraud Cards Mobile ATM 110