Abrigo

DECEMBER 5, 2023

AML Compliance Ten qualities of a successful BSA officer Hiring a Bank Secrecy Act (BSA) Officer for a financial institution involves looking for a unique experience level and skillset that ensures compliance with the BSA and related regulations. This includes training staff on BSA/AML policies and fostering a culture of compliance.

Training 221

Training Compliance Regulation Software 221

Abrigo

NOVEMBER 22, 2021

Consumer Lending Laws & Compliance Financial institutions offering consumer loans need to know about these major consumer lending laws and recent compliance issues. You might also like this webinar, "Consumer Lending 101.". Consumer lending compliance spotlight. Major consumer loan compliance regulations.

Compliance 195

Compliance Lending Risk Management Regulation 195

Abrigo

MAY 8, 2024

You might also like this webinar, "The check's in the mail: Understanding and preventing check fraud." Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. Another example of using predictive AI is small business lending software that incorporates AI-driven lending intelligence.

Examples 195

Examples Fraud Resources Risk Management 195

Abrigo

JANUARY 14, 2021

How Institutions Can Avoid Fraud Surprises in the Next Round of the PPP BSA and fraud professionals saw a spike in PPP fraud during the first two rounds of funding. How can they be better prepared to prevent fraud in this next round? Stopping PPP Fraud in New Round of Funding. PPP Fraud Spikes.

Fraud 195

Fraud Compliance Community Trends 195

Abrigo

JUNE 28, 2023

Share these reports on AML activities to inform directors Reporting to the board on AML and fraud compliance is an essential obligation. Takeaway 3 Recommended reports on AML and fraud metrics for the board include those on high-risk customers and trends on types of fraud and suspicious activity seen.

Compliance 195

Compliance Fraud Report Trends 195

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

Abrigo

OCTOBER 31, 2022

Real estate lending BSA training should include GTO guidance , specifically on how to identify red flags at loan origination. While title insurance companies are required to collect and report data on covered transactions, regulators expect financial institutions to have procedures in place to detect these transactions.

New York City 195

New York City Las Vegas District of Columbia San Antonio 195

Abrigo

JANUARY 17, 2024

The issue is more prevalent than most of us realize, despite it making headlines this year.  Banks can help identify and combat financial crimes by recognizing financial warning signs and training front-line staff on human trafficking red flags.

Training 259

Training Community Software Texas 259

Abrigo

JUNE 12, 2023

A regulatory baseline Benefits to adopting the model money transmitter act framework Money transmitters are regulated at the state level, and the absence of a standardized licensing and regulatory framework across states can lead to consistency and challenges for money transmitters. alone, handling $6 trillion in payments.

Compliance 195

Compliance Fraud Regulation Guidelines 195

Abrigo

JANUARY 30, 2024

This year’s conference will feature industry experts, financial institution peers, BSA/AML professionals, CPAs, law enforcement, auditors, and regulators selected especially for their expertise and timely knowledge. The Fighting Financial Crime track will focus on BSA compliance, anti-money-laundering (AML), and fraud detection topics.

Conference 195

Conference Arizona Phoenix Fraud 195

Abrigo

SEPTEMBER 18, 2020

Key Takeaways FinCEN has released three COVID-19-related advisories that remind financial institutions to stay alert to increasing fraud trends. Adjust your scenario thresholds and ensure your front line staff is aware of these fraud red flags to help detect and deter COVID-19-related fraud.

Fraud 195

Fraud Trends social media Regulation 195

Abrigo

JUNE 18, 2020

Key Takeaways The Paycheck Protection Program (PPP) has been a critical foothold for community financial institutions seeking to obtain and diversify business lending relationships. PPP opens the door for new business lending relationships. Reimagining branches post-pandemic to support business lending. learn more.

Lending 195

Lending Strategy Resources Community 195

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

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. Facilitation of embedded lending while ensuring compliance: Embedded finance initiatives must adhere to regulatory requirements.

Trends 221

Trends Industry Analytics Compliance 221

Abrigo

OCTOBER 17, 2023

Why change management is vital for banks and credit unions Regulators promote change management to manage risk, but banks and credit unions can also achieve important benefits when they manage change. This article describes recent comments by financial regulators about managing change.

Management 195

Management Lending Risk Management Strategy 195

Abrigo

MARCH 3, 2021

While the typologies of EIP fraud are not new, FinCEN has provided examples of trending types of EIP-related criminal activities. . Takeaway 1 FinCEN has provided examples of the trending types of EIP fraud. . Takeaway 3 FinCEN has requested specific SAR filing instructions for EIP fraud. . Red flags for EIP fraud.

Fraud 195

Fraud Payments ATM Trends 195

PYMNTS

AUGUST 6, 2018

China has ordered a lockdown of Beijing’s financial district Monday (August 6) to prevent individuals from protesting a crisis in the peer-to-peer (P2P) lending marketplace. Leading up to the police action, investors have been withdrawing funds from P2P lending platforms amid a wave of defaults across the industry in China.

Lending 116

Lending Fraud Training Security 116

Abrigo

JULY 1, 2022

Department of Homeland Security defines human trafficking as modern-day slavery involving the use of force, fraud, or coercion to obtain labor or commercial sex act. Refugees can easily fall victim to someone lending a helping hand, their exhaustion contributing to their eagerness to trust those who might help. BSA Training.

Training 195

Training Fraud National Exercises 195

Abrigo

FEBRUARY 8, 2022

Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. Consumers are looking for speed without the hassle of mounds of paperwork and lengthy approval processes, whether with deposit or lending accounts. Periodic BSA training must be given to all employees of the NBFI.

Compliance 195

Compliance Training Regulation Fraud 195

Abrigo

SEPTEMBER 7, 2023

Adapt to a dynamic banking environment with real-time lending & credit data Lender dashboards and reports showing the lending pipeline, pricing trends, emerging risks, workflow bottlenecks, etc. Ironically, data for making lending and credit decisions for the financial institution can also be one of the toughest assets to harness.

Report 195

Report Lending Trends Data 195

Abrigo

JUNE 15, 2023

has lagged in passing laws and regulations preventing criminal proceeds from flowing into real estate. The comment period for the proposed rule, Anti-Money Laundering Regulations for Real Estate Transactions , ended in February 2022, but a final rule has yet to be issued. However, the U.S.

Training 195

Training Regulation Compliance System 195

Abrigo

OCTOBER 14, 2022

Takeaway 1 Loan modifications training, automating processes, and updating policies and procedures can help prepare organizations for change. Takeaway 3 Utilize regulatory guidance to understand regulators' expectations, which are likely to include consistent stress testing. Get to know regulator expectations and priorities.

Risk Management 195

Risk Management Management Policies Lending 195

Abrigo

DECEMBER 14, 2023

In a banking landscape that is constantly changing with new regulations, increasing competition, and other new challenges, it is critical to maximize your strategic plan's effectiveness. This can also improve onboarding and training if your plan involves new staff or technology. Every stakeholder should be on board.

Lending 221

Lending Risk Management Meeting Survey 221

Abrigo

APRIL 12, 2021

What an LOS Is, and How It Benefits CFIs A loan origination system automates and manages the lending process to address common challenges. Takeaway 1 The lending landscape is increasingly competitive and the process is frustrating. You might also like this report on commercial loan automation systems DOWNLOAD. Definition of LOS.

System 338

System Lending Software Analysis 338

Abrigo

JULY 22, 2022

Cryptocurrency regulation is on the horizon The ups and downs of the cryptocurrency scene have illuminated a need for guidance for traditional financial institutions. Today’s cryptocurrency platforms also offer crypto-backed loans, allowing users to leverage their portfolios as loan collateral in a system similar to securities-based lending.

cryptocurrency 195

cryptocurrency FDIC Regulation Fraud 195

Abrigo

JULY 16, 2021

Takeaway 2 Regulations haven't been written, but there are steps community financial institutions can take now to prepare. While these are general today, the AMLA requires that regulations be written around each Priority, as appropriate. Until regulations have been released and go into effect, regulatory expectations remain unclear.

Community 195

Community Regulation Training Policies 195

Abrigo

MAY 20, 2020

When filing a COVID-19 related SAR, FinCEN requests that SAR field 34(z) (Fraud Other) be selected and the key term “COVID19 FIN-2020-A002 be referenced in SAR field 2 (filing Institution Note to FinCEN) as well as in the body of the narrative. . Lending & Credit Risk. Member Business Lending. SBA Lending.

Lending 195

Lending Fraud Training Report 195

Abrigo

DECEMBER 2, 2021

In a competitive lending environment, many banks and credit unions are concerned about losing good-quality loans if they over-price them. During the pandemic, fraud activity has increased, and fraudsters have found new ways to scam bank customers and credit union members. Spend budget surplus on next year’s training. Learn More.

Conference 195

Conference San Antonio Lending Fraud 195

Abrigo

NOVEMBER 21, 2019

Key Takeaways Now is a good time to plan 2020 BSA/AML training and efforts to educate clients and colleagues about BSA and fraud red flags. In fact, continuing education or training is one of the pillars for any BSA/AML compliance program. It's also a good time to enhance your institution's BSA/AML risk assessment.

Compliance 195

Compliance Training Fraud US 195

PYMNTS

SEPTEMBER 7, 2020

Bigatton, who is based in New South Wales, performed in his job for BitConnect between August 2017 and January 2018, when he also served as the representative for the investment scheme BitConnect Lending Platform. Personal information is private as well.

Bitcoin 132

Bitcoin Fraud Payments cryptocurrency 132

Abrigo

DECEMBER 30, 2019

Their commitment should be visible within the organization, and if it is not, regulators will take notice. Enforcement actions can lead to cease and desist of any mergers or acquisitions, new branches, and in some cases no lending or other growth avenues. Are you proactively monitoring the Dark Web to better protect against fraud?

Training 195

Training Compliance Leadership Fraud 195

Abrigo

AUGUST 18, 2020

Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. Be aware of emerging fraud schemes. Any time there is a large-scale , global issue, you can expect to see a rise in fraud, and COVID-19 is no different.

Fraud 195

Fraud Trends Compliance Technology 195

Gonzobanker

MAY 4, 2022

Think digital currencies, embedded finance, BaaS, buy now pay later, gen 3 core systems, artificial intelligence and machine learning… How many of these would have been on any FI’s training curriculum even two years ago? The only thing worse than training your employees and having them leave, is not training them and having them stay.

Training 154

Training Survey System Data 154

FICO

FEBRUARY 28, 2018

But how can it best be used to fight application fraud? It was not much before Deep Blue, in 1992, that FICO pioneered the use of artificial intelligence and machine learning to fight credit card fraud. Fraud losses on US credit cards were reduced by over 70% since the introduction of FICO’s real-time anti-fraud analytics.

Fraud 69

Fraud Analytics Regulation Examples 69

Gonzobanker

JULY 13, 2023

Supervised machine learning is when a model is trained to predict outcomes from a dataset. With their focus on consumer lending, credit unions are especially interested in this technology. Machine Learning AI Machine learning is the type of artificial intelligence that uses a model to predict an outcome.

Technology 78

Technology Software social media Fraud 78

Abrigo

NOVEMBER 15, 2019

Key Takeaways Effective credit risk review promotes lending agility. Regulators consider an effective loan review system vital for financial institutions’ efforts to meet safety and soundness standards. Regulators consider an effective loan review system vital for financial institutions’ efforts to meet safety and soundness standards.

System 150

System Lending Compliance Risk Management 150

Abrigo

NOVEMBER 6, 2019

BSA Rules and Regulation. BSA Training. Fraud Prevention. Fraud Prevention. Fraud Prevention. Lending & Credit Risk. FinCEN guidance gives a strong reminder of USA PATRIOT ACT Section 312 obligations. Customer Due Diligence. Learn More. E-Commerce Merchants: A Hot Commodity in the Dark Web. Learn More.

Regulation 150

Regulation Training Compliance Fraud 150