Fraud, Lending, New York and Security - Community Banking Brief

Banking Computer-Security Incident Notification Requirements Take Effect

Abrigo

APRIL 6, 2022

New Rule Outlines Computer-Security Incident Notification Obligations for Banks Financial institutions and their service providers should prepare to meet new computer-security notice requirements by May 1, 2022. . Computer-security incident notifications required. Expand and Clarify.

Security

Security Regulation District of Columbia United States

Prosecutors Target Loosely-Regulated Business Lending Sector

PYMNTS

AUGUST 11, 2020

Federal and state authorities are targeting companies that allegedly lend money to small businesses at extreme rates and seek to collect payments with heavy-handed tactics, NBC News reported Tuesday (Aug.

Lending

Lending Regulation Philadelphia New York

Strategies for fighting remote authentication fraud

Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. These types of scams fall under the broad term of remote authentication fraud, and they’re increasingly common—and inventive. Examples of remote authentication fraud. Online U.S.

Fraud

Fraud Strategy Community Bank New York City

Webinars

Live Demo: How to Achieve Reconciliation Zen

MORE WEBINARS

Bitcoin Daily: Lender Vauld Nets $2 Million To Expand To Full Crypto Bank; SEC Freezes Assets Of Virgil Capital In Alleged Fraud In Crypto Trading Fund; Japan's SBI Holdings Claims Ripple's XRP Is Crypto, Not A Security

PYMNTS

DECEMBER 28, 2020

Cryptocurrency lending platform Vauld raised $2 million to expand into full banking services, including issuing credit and debit cards and providing fiat and crypto order books, CoinDesk reported. In other news, the U.S. The SEC filed its complaint against Qin and Virgil Capital in the Southern District of New York on Dec.

Capital

Capital Security cryptocurrency Fraud

FTC Alleges New York Small-Business Lenders Deceived SMBs And Nonprofits

PYMNTS

JUNE 10, 2020

The Federal Trade Commission sued two New York small-business lenders Wednesday (June 10) for allegedly using deceptive terms in loans to companies, nonprofits, religious groups and medical offices, and threatening violence and personal-asset seizures to collect funds. A 14-page complaint filed in the U.S.

New York

New York Capital Groups Examples

COVID-19 Scams Target The Business Community

PYMNTS

JANUARY 18, 2021

With a second Paycheck Protection Program (PPP) on the way, small businesses have yet another chance to secure much-needed financial relief. But new concerns are mounting over the U.S. government's inability to curb the risk of fraud that emerged during the first round of PPP funding. Homeland Security investigators.

Community

Community Fraud Taxes Massachusetts

Helping Investors Avoid The Lending Club Trap

PYMNTS

APRIL 26, 2017

Online lending as a business model has taken some lumps over the last several months, with Lending Club (and investors) only the most visible casualty of alleged fraud. As for questions surrounding the viability of these online lending platforms, as posited by Webster, Moore said the model exists as one that is here to stay.

Lending

Lending New York City Online Fraud

Today In Payments: $50B In Crypto Moved Out Of China; Uber Health To Deliver Meds

PYMNTS

AUGUST 21, 2020

Publishers’ Letter Spotlights ‘Apple Tax’ – and Digital News Delivery. Several publishers – including The New York Times and CNBC – petitioned Apple’s CEO Tim Cook to offer a commission structure similar to the one given to Amazon. New Report: How Behavioral Analytics Help FIs Block Fraud at the ITM.

cryptocurrency

cryptocurrency Maine Boston Analytics

10 Reports every bank and credit union should run NOW

Abrigo

JUNE 5, 2023

Data-driven decisions for managing financial institution risk while driving growth and increasing efficiency are especially important given the recent failures of Silicon Valley Bank, First Republic Bank, and Signature Bank of New York. Visualizing the institution’s lending footprint can lead to improved targeting of growth areas.

Report

Report Risk Management Capital Data

BEC Attacks Surge As Fraudsters Eye Pandemic Opportunity

PYMNTS

JULY 6, 2020

Wirecard continues to dominate the headlines in the realm of corporate fraud thanks to $2 billion missing from the company’s books, but it’s not the only company at the center of questionable activity. 34 percent of furloughed employees were asked to commit furlough fraud , according to a survey from U.K.-based

Fraud

Fraud Missouri California Report

Swift Prepaid, Bitty Pair Up For Virtual Merchant Cash Advances

PYMNTS

JANUARY 23, 2019

In a press release issued Tuesday, Swift Prepaid said it will integrate its prepaid services to enable Bitty small business customers immediate access to virtual funds after they secure a merchant cash advance. The funds can then be uploaded to a mobile wallet, including Apple Pay, Samsung Pay and Google Pay.

Samsung

Samsung New York Branding Apple

Investors Haven’t Forgotten About Alternative SMB Finance

PYMNTS

DECEMBER 15, 2017

By now, the alternative lending market is hardly new, and investor appetite for startups in the space seems to have waned. Sure, it shows that investors aren’t ready to give up on alternative lending just yet. million in new funding this week, $11.8 Enterprise Security. SMB Finance. Germany’s Finiata announced $21.2

Fraud

Fraud Capital New York City Lending

Wirecard Seeks Forensic Investigation Into Its Collapse

PYMNTS

JULY 21, 2020

Once worth $28 billion before it collapsed last month, Wirecard has contracted with Alix Partners, the New York-based forensic accounting firm, to explore the two missing deposits in Philippines banks totaling more than $2 billion uncovered by its auditor Ernst & Young and nearly $4 billion it owes creditors.

Pennsylvania

Pennsylvania New York Fraud Operations

Bitcoin Daily: NY Regulator Announces New Crypto Unit; Online Crypto Lender Leaked Customers’ Credit Info

PYMNTS

JULY 24, 2019

New York’s Department of Financial Services (DFS) has launched a new Research and Innovation Division that will be responsible for licensing and supervising virtual currencies. Security researchers Noam Rotem and Ran Locar discovered the database and reported their findings to TechCrunch.

Regulation

Regulation Bitcoin New York Online

Ascension Leak Exposes 24M+ Loan, Mortgage Details

PYMNTS

JANUARY 24, 2019

The database, which is believed to have been exposed for two weeks, was discovered by independent security researcher Bob Diachenko. Reporters were able to find out that the vendor mentioned is New York-based OpticsML. Unfortunately, the server wasn’t password protected, giving anyone access to the documents.

Taxes

Taxes New York Security Data

Why Digital Marketplaces Must Anticipate Shoppers’ Needs

PYMNTS

MAY 28, 2019

The company recently filed paperwork with the Securities & Exchange Commission (SEC) to go public on the New York Stock Exchange. billion – of funds were lost to card fraud in 2018, up from $1.4 And some marketplaces in Asia are growing their services through tie-ups. Just under $3 billion – or $2.7 billion in 2017.

Apple

Apple Mobile Fraud Branding

Funding Lands T&E Firm TripActions $4B Valuation

PYMNTS

JUNE 28, 2019

Corporate travel and expense (T&E) management solutions provider TripActions led this week’s B2B venture capital roundup with its announcement of new funding that propelled its valuation to $4 billion. Small business lending startup Lulalend is driving alternative finance growth in South Africa, and just announced $6.5

Capital

Capital Analytics San Francisco Lending

Report: Data Key To Credit Union Member Retention

PYMNTS

AUGUST 27, 2019

percent, it was only the seventh-most important priority among CUs, which are instead focusing on open banking options that offer anti-money laundering (AML), data security and instant payments technology. ABA’s request stems from concerns about rising fraud levels at CUs, as well as New York City’s recent taxi medallion scandal.

Data

Data Report Los Angeles California

Trust And Speed Light A New Path To Omnichannel Retail

PYMNTS

JANUARY 22, 2020

Titled “Why the Future of Merchant Payments Requires a Digital-First Approach,” the webinar generally revolved around questions related to the development and ongoing rise of omnichannel commerce — already a major topic in the payments and commerce world in these first weeks of the new year. Trust Issues.

Retail

Retail Millennials New York City social media

Europe Says Goodbye To €500 Bill

PYMNTS

MAY 5, 2016

The New York Times reported that the €500 note was big enough and moved freely enough across locales to be a favorite of terrorists and money launders in order to help disguise activity. Fewer bills in circulation may mean that banks go to lend money and thus stimulate the economy, according to NYT.

New York

New York Lending Report Fraud

Why Do Fellow Bankers Give Wells Fargo a Free Pass?

Gonzobanker

OCTOBER 24, 2018

That cost Wells an initial $185 million in fines and another $142 million in a class action suit, followed in May 2018 with another $480 million in settlements for related securities fraud. Wells hit the Trifecta on this one: Stealing money and cars? from customers? who are deployed in the military? Significant harm to customers.

San Francisco

San Francisco Industry America Compliance

Targeting Corporate Clients’ Bottom Lines — In One Way Or Another

PYMNTS

MAY 27, 2016

Some focus on specific verticals, like restaurants; Some take unique routes to enterprise security, from password management to email protection. SME Lending. Enterprise Security. The funding will help strengthen Agari’s Email Trust Platform, which focuses on securing corporate email accounts. Konfio is one of them.

Capital

Capital Management Taxes Security

FinDEVr APIntelligence

Fintech Labs Insights

APRIL 5, 2017

We saw some great stuff at FinDEVr New York last month; stay tuned for videos of the live presentations! FinDEVr in the Springtime: Wrapping Up New York & Kicking Off London. FinDEVr in the Springtime: Wrapping Up New York & Kicking Off London. FinDEVr New York 2017 in Photos.

New York

New York Video Regional Lending

Artificial Intelligence: Find it Right in Your Own Backyard

FICO

OCTOBER 26, 2016

Fighting fraud. The FICO® Falcon Fraud Management solution is the industry leader, protecting two thirds of the world’s payment card transactions against fraud. The FICO® Score is used by 90 of the top 100 largest US lending institutions for their risk assessment needs. Here are a few examples. Making credit decisions.

Analytics

Analytics Fraud New York City social media

Artificial Intelligence: Find it Right in Your Own Backyard

FICO

OCTOBER 26, 2016

Fighting fraud. The FICO® Falcon Fraud Management solution is the industry leader, protecting two thirds of the world’s payment card transactions against fraud. The FICO® Score is used by 90 of the top 100 largest US lending institutions for their risk assessment needs. Here are a few examples. Making credit decisions.

Analytics

Analytics Fraud New York City social media

Fintech Fundings: 24 Companies Raise $560 Million Week Ending Sep 18

Fintech Labs Insights

SEPTEMBER 21, 2015

The total included one new alum, Praesidio , which will be presenting its security and fraud control integrations at next month’s FinDEVr. HQ: New York City. HQ: New York City. HQ: New York City. HQ: New York City. Cloud-based security for financial institutions.

New York City

New York City San Francisco Company Fintech

Stripe Teardown: How The $35B Payments Company Plans To Supercharge Online Retail

CB Insights

FEBRUARY 13, 2020

These APIs handle everything from acceptance and processing to settlement and reconciliation, while ensuring compliance and security. Fraud prevention tools. Business lending and corporate cards. Atlas reduces barriers to new business creation. How Stripe’s product suite feeds into its ultimate goals. Source: Finix.

Online

Online Company Retail Payments

17 Of The Biggest Startup Frauds Of All Time

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. Mozido’s fintech fraud fiasco. Virgin Hyperloop One’s utopian vision derailed by fraud. Some companies just push their luck a little too far. Total Funding: $1.1B.

Fraud

Fraud Las Vegas Company Video

Fintech Fundings: 26 Companies Raise $270 Million Second Week of August

Fintech Labs Insights

SEPTEMBER 19, 2016

million went to Finovate alum Pindrop to further its phone-based fraud solutions. $5 5 million to CUneXus to expand its consumer lending platform. Pindrop Security. Phone-based fraud solutions. Consumer lending platform. HQ: New York City. SMB lending marketplace. HQ: New York City.

San Francisco

San Francisco New York City Fintech Company

Happy Birthday To PYMNTS

PYMNTS

OCTOBER 20, 2018

If we had a nickel for every mobile wallet that had come and gone in that time period, we would at this point be larger than The New York Times. It took us 18 months to launch the product in a legal and compliant and secure way. If this person can’t afford this, we won’t lend. Nine years is a long time, after all.

Innovation

Innovation Payments Cards Retail

Fintech Fundings: Companies Raise $ Million Week Ending Feb 26

Fintech Labs Insights

MARCH 1, 2016

Three Finovate and FinDEVr alums raised new cash and one exited: PayActiv raised $9.2 Snoopwall landed a cool million for its security solutions. Seven weeks into the new year, fintech companies have raised $4.7 HQ: New York City. Data security for financial institutions. Fraud protection for e-commerce.

New York City

New York City Company Fintech San Francisco

Fintech Fundings: 17 Companies Raise $4.8 Billion Week Ending April 22

Fintech Labs Insights

MAY 2, 2016

P2P lending platform. Ecommerce payments fraud technology. HQ: New York City. HQ: New York City. Tags: SMB, small business, lending, credit, underwriting. Source: Crunchbase. SocietyOne. Latest round: $125 million, $25 million Series C and $100 million Debt. Total raised: $158.5 HQ: Sydney, Australia.

San Francisco

San Francisco New York City Company Fintech

Fintech Fundings: 28 Companies Raise $220 Million Week Ending March 25

Fintech Labs Insights

MARCH 28, 2016

Three Finovate alums brought in new cash: Kreditech raised $11 million for its banking and lending services for the underbanked. Here are the fintech deals by size from 19 March to 25 March 2016: Open Lending. Automated lending solutions for financial institutions. Automated lending solutions for financial institutions.

Company

Company Fintech San Francisco New York City

Fintech Fundings: 36 Companies Raise $480 Million Week Ending March 18

Fintech Labs Insights

MARCH 22, 2016

It was another busy week for Finovate alums with six raising new funds: StreetShares raised $4.5 million for its P2P lending platform for small businesses. Emailage raised an undisclosed sum for its fraud prevention technology keyed off email address. Alt-lender focused on lending against existing automobile titles.

Company

Company New York City Fintech Colorado

Fintech Fundings: 28 Companies Raise $400 Million Week Ending May 20

Fintech Labs Insights

JUNE 16, 2016

Along with the usual payment and lending startups, two insurtech companies raised substantial rounds: Embroker ($12.2 SigFig brought in $40 million from a blue-chip lineup of financial institutions including Comerica, Santandar, and New York Life. EZBob landed a $25 million debt commitmen t to increase its SMB lending.

San Francisco

San Francisco Company South Carolina New York City

Fintech Fundings: 13 Companies Raise $900 Million Week Ending Nov 12

Fintech Labs Insights

NOVEMBER 12, 2015

HQ: New York City. Lending marketplace targeting Hispanic-owned small businesses. HQ: Buffalo, New York. HQ: New York City. Tags: Enterprise, fraud, security, online banking, payments, API, developers, big data. Source: Crunchbase. Bread Finance. Latest round: $14.3 million Series A.

New York City

New York City Company Fintech San Francisco

Fintech Fundings: 30 Companies Raise $390 Million Week Ending May 13

Fintech Labs Insights

JUNE 6, 2016

HQ: New York City. HQ: New York City. Tags: SMB, accounting, bookkeeping, expense reporting, compliance, fraud protection. Latest round: $188 million Debt (for AvantCredit UK). Total raised: $1.92 billion ($654 million Equity, $1.26 billion Debt). HQ: Chicago, Illinois. Source: Crunchbase. Bridge2Solutions.

Company

Company Fintech San Francisco New York City

Bitcoin, currency and competition

Tomorrow's Transactions

OCTOBER 8, 2014

By coincidence, the week before Innotribe, we had had our annual Unconference at Google in New York, where Jeffrey Robinson had given a talk about his new book. Although Jeffrey Robinson, an author and journalist, described the digital currency as a fraud, he said the underlying technology was “brilliant.”

Bitcoin

Bitcoin cryptocurrency blockchain social media

Fintech Fundings: 15 Companies Raise $150 Million Week Ending August 31

Fintech Labs Insights

AUGUST 28, 2015

Able Lending. HQ: New York City. Mobile transaction security. Tags: P2P, lending, mortgage, loans, peer-to-peer. Source: Crunchbase. Nok Nok Labs. Authentication solutions. HQ: Palo Alto, California. Latest round: $16.3 Total raised: $47.8 Source: FT Partners. Mobile point of sale system. HQ: London, England, UK.

Company

Company Fintech California San Francisco

Fintech Fundings: 30 Companies Raise $100 Million Week Ending Dec 11

Fintech Labs Insights

DECEMBER 14, 2015

million to further card-fraud methods. BankersLab received an undisclosed investment towards its commercial lending training & compliance tools. HQ: New York City. Real estate lending marketplace. HQ: New Delhi, India. HQ: New York City. Rippleshot was given another $1.2 Source: Crunchbase.

San Francisco

San Francisco Company Fintech New York City

Fintech Fundings: 23 Companies Raise $120 Million Week Ending Oct 30

Fintech Labs Insights

NOVEMBER 2, 2015

HQ: New York City. HQ: New York City. HQ: New York City. Tags: Security, privacy, cryptocurrency, data. Source: Crunchbase. Electronic trading marketplace for corporate bonds. Latest round: $25 million. Total raised: $25 million. Source: Crunchbase. Digital insurance manager. Latest round: $15.7

Los Angeles

Los Angeles New York City San Francisco Company

Fintech Fundings: 23 Companies Raise $530 Million Week Ending July 8

Fintech Labs Insights

AUGUST 5, 2016

Lending Works. P2P lending platform. HQ: New York City. HQ: New York City. Credit card & mobile payments fraud protection. Tags: Consumers, mobile payments, credit/debit cards, security, fraud protection. Total raised: $12.6 HQ: Munich, Germany. Source: Crunchbase. Latest round: $3.9

San Francisco

San Francisco Company New York City Fintech

Fintech Fundings: 21 Companies Raise $440 Million Week Ending July 23

Fintech Labs Insights

JULY 23, 2015

HQ: Troy, New York. CircleBack Lending. Consumer lending P2P marketplace. HQ: New York City. Tags: Lending, credit, SMB. Platform-as-a-service provider. Latest round: $24 million. Total raised: $55 million. Source: Finovate. HQ: Boca Raton, Florida. Latest round: $17.5 million Series A. Self Lender.

Company

Company Connecticut Fintech Austin

AI Can’t Be Bottled Up — But Will The US Give It A Try?

PYMNTS

JANUARY 2, 2019

Tech companies are weighing in, according to The New York Times , and are encouraging regulators to take a light hand with AI export rules ahead. What’s more, China has ambitions for using AI to predict crimes, lend money, track people in the country, help with traffic snarls and censor the internet, among other things.

US

US United States Regulation Technology

Banking Computer-Security Incident Notification Requirements Take Effect

Prosecutors Target Loosely-Regulated Business Lending Sector

Webinars

Trending Sources

Strategies for fighting remote authentication fraud

Webinars

Bitcoin Daily: Lender Vauld Nets $2 Million To Expand To Full Crypto Bank; SEC Freezes Assets Of Virgil Capital In Alleged Fraud In Crypto Trading Fund; Japan's SBI Holdings Claims Ripple's XRP Is Crypto, Not A Security

FTC Alleges New York Small-Business Lenders Deceived SMBs And Nonprofits

COVID-19 Scams Target The Business Community

Helping Investors Avoid The Lending Club Trap

Today In Payments: $50B In Crypto Moved Out Of China; Uber Health To Deliver Meds

10 Reports every bank and credit union should run NOW

BEC Attacks Surge As Fraudsters Eye Pandemic Opportunity

Swift Prepaid, Bitty Pair Up For Virtual Merchant Cash Advances

Investors Haven’t Forgotten About Alternative SMB Finance

Wirecard Seeks Forensic Investigation Into Its Collapse

Bitcoin Daily: NY Regulator Announces New Crypto Unit; Online Crypto Lender Leaked Customers’ Credit Info

Ascension Leak Exposes 24M+ Loan, Mortgage Details

Why Digital Marketplaces Must Anticipate Shoppers’ Needs

Funding Lands T&E Firm TripActions $4B Valuation

Report: Data Key To Credit Union Member Retention

Trust And Speed Light A New Path To Omnichannel Retail

Europe Says Goodbye To €500 Bill

Why Do Fellow Bankers Give Wells Fargo a Free Pass?

Targeting Corporate Clients’ Bottom Lines — In One Way Or Another

FinDEVr APIntelligence

Artificial Intelligence: Find it Right in Your Own Backyard

Artificial Intelligence: Find it Right in Your Own Backyard

Fintech Fundings: 24 Companies Raise $560 Million Week Ending Sep 18

Stripe Teardown: How The $35B Payments Company Plans To Supercharge Online Retail

17 Of The Biggest Startup Frauds Of All Time

Fintech Fundings: 26 Companies Raise $270 Million Second Week of August

Happy Birthday To PYMNTS

Fintech Fundings: Companies Raise $ Million Week Ending Feb 26

Fintech Fundings: 17 Companies Raise $4.8 Billion Week Ending April 22

Fintech Fundings: 28 Companies Raise $220 Million Week Ending March 25

Fintech Fundings: 36 Companies Raise $480 Million Week Ending March 18

Fintech Fundings: 28 Companies Raise $400 Million Week Ending May 20

Fintech Fundings: 13 Companies Raise $900 Million Week Ending Nov 12

Fintech Fundings: 30 Companies Raise $390 Million Week Ending May 13

Bitcoin, currency and competition

Fintech Fundings: 15 Companies Raise $150 Million Week Ending August 31

Fintech Fundings: 30 Companies Raise $100 Million Week Ending Dec 11

Fintech Fundings: 23 Companies Raise $120 Million Week Ending Oct 30

Fintech Fundings: 23 Companies Raise $530 Million Week Ending July 8

Fintech Fundings: 21 Companies Raise $440 Million Week Ending July 23

AI Can’t Be Bottled Up — But Will The US Give It A Try?

Stay Connected