PYMNTS

AUGUST 11, 2020

Idaho-based Kount has released a new product aimed at preventing insurance fraud as the industry increasingly turns to digital, and even mobile, setups. Kount’s products help “insurance companies identify visitors, manage leads, and determine who is shopping for a quote.”. In a Tuesday (Aug.

Fraud 234

Fraud Industry Idaho Customer Experience 234

Abrigo

JUNE 13, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation and fraud continue to rise as the baby boomer generation ages. Takeaway 3 Education and reporting are key to preventing this type of fraud, so know your state's policies. .

Fraud 195

Fraud Training United States Survey 195

Abrigo

FEBRUARY 15, 2023

When considering each of the eight AML/CFT priorities FinCEN identified in 2021, banks and credit unions must evaluate the risks and incorporate them into their policies and procedures to meet regulatory expectations. Fraud - Fraud is believed to be the largest generator of proceeds for criminals in the U.S. or internationally.

Fraud 195

Fraud United States Training Policies 195

PYMNTS

DECEMBER 16, 2020

The topic was front and center in an On the Agenda discussion with PYMNTS CEO Karen Webster, Ethoca CEO Andre Edelbrock , Cabela’s and Bass Pro Shops Senior Manager of Fraud and Investigations Keith Thompson and First National Bank of Omaha Director of Fraud Management Steve Furlong. The Scope Of The Problem.

Retail 228

Retail Management Fraud Omaha 228

PYMNTS

OCTOBER 8, 2020

Risk management platform Feedzai announced a 44 percent increase in growth for the first half of the fiscal year for 2020, which a press release says was one of the company’s most successful so far. In addition, the company has strengthened its hiring, with several veterans of finance, policy and regulatory affairs joining the team.

Report 247

Report Fraud Risk Management America 247

PYMNTS

OCTOBER 21, 2019

Corporate fraud comes in many colors, but for many businesses, the most unexpected threat is the one looming from within company walls. This week, IBM announced a collaboration with Raw Seafoods to develop a blockchain solution to address supply chain fraud in the seafood industry, including cases of incomplete documentation and mislabeling.

Fraud 111

Fraud blockchain Ohio Survey 111

PYMNTS

MARCH 17, 2017

A new report from the Anti-Fraud Collaboration identifies where corporates should begin when looking to safeguard their data and deploy a cybersecurity strategy. Announcing the report Thursday (March 16), the Anti-Fraud Collaboration said a focus on complex accounting areas is critical to an effective cybersecurity strategy.

Fraud 100

Fraud Report Policies Leadership 100

PYMNTS

MARCH 3, 2020

In today’s top news, Apple manufacturer and supplier Foxconn has returned to production, the Department of Justice charged two Chinese nationals with laundering over $100 million in cryptocurrency, and TurboTax’s deal to buy Credit Karma has sparked antitrust concerns. Two Chinese Nationals Charged With Laundering $100M In Crypto.

Apple 132

Apple National cryptocurrency Payments 132

Abrigo

MARCH 31, 2023

You might also like this webinar: "CECL implementation FAQs: Progress as 2023 approaches" listen Takeaway 1 The National Credit Union Administration emphasized interest rate, liquidity, and credit risk as main concerns. Takeaway 2 Credit unions may still have questions about regulatory expectations for CECL after adopting the new standard.

Risk Management 195

Risk Management Policies Capital Maine 195

Abrigo

JUNE 4, 2023

Financial institutions must establish and maintain an anti-money laundering (AML) compliance program that provides guidance and policies to comply with these regulations. The policies must also be tailored to the institution’s risk appetite and not open for interpretation. When the U.S.

Compliance 195

Compliance Training Resources Regulation 195

PYMNTS

MARCH 9, 2020

authorities — and those in other places — also noted the presence of fraud in which people are led to purchase medical supplies that don’t exist or give financial information to criminals who purport to be health workers. All of the nation’s schools were previously shuttered until mid-March.

Policies 141

Policies New York San Francisco Seattle 141

PYMNTS

MAY 22, 2017

companies are turning to their insurance policies that cover things like ransom and extortion to get back losses from the WannaCry ransomware attack that caused headaches around the globe a little over a week ago. These are within expectations and entirely manageable.”

Policies 100

Policies Company National Report 100

PYMNTS

JUNE 21, 2019

Fraud knows no boundaries. new reports from The New Yorker this week dove into how the current CFO of the National Rival Association (NRA) allegedly embezzled funds from his last company, employee benefits consulting firm the Wyatt Company. ” Similar predicaments of public image arise when a government falls victim to fraud. .

Fraud 108

Fraud Baltimore cryptocurrency Maryland 108

Abrigo

NOVEMBER 2, 2021

On January 1, 2021, the Senate voted into law the National Defense Authorization Act (NDAA). One of AMLA's primary objectives is for financial institutions to spend time doing what is truly necessary for detecting criminal activity and not spin their wheels with policies and procedures on tasks that bring no benefit to law enforcement.

Compliance 195

Compliance Regulation Resources Policies 195

PYMNTS

NOVEMBER 28, 2017

While most corporations are hesitant to admit it, fraud initiated by a company’s own employees is quite common — and incredibly expensive. Research earlier this year found corporate fraud to be at record-high levels. Though difficult to detect, internal fraud has a massive impact on the bottom line. Fear of Retaliation.

Fraud 101

Fraud Report Survey Leadership 101

PYMNTS

NOVEMBER 19, 2019

The United States Federal Emergency Management Agency (FEMA) has revealed that it might look into using blockchain technology to streamline disaster insurance payouts, as well as speed up its response to disasters.

blockchain 217

blockchain Puerto Rico Virgin Islands United States 217

Insights on Business

AUGUST 28, 2019

In our webinar yesterday, the first in the series AI Fraud Detection — Beyond the Textbooks , we ran out of time and weren’t able to address some great questions we had from the audience. What rules or models can you recommend to detect push-payment fraud”? Here’s why: All fraud models are predictors. Great question!

Fraud 93

Fraud Training Cards Data 93

Abrigo

SEPTEMBER 13, 2022

If your financial institution does not have a supportive culture of compliance at the executive and senior management levels, it may be time to share these assessments and consent orders and encourage a change. Get more BSA training on the latest fraud trends with this webinar. Fraud Prevention. Fraud Trends. Learn More.

Software 195

Software Resources Training Compliance 195

Abrigo

JANUARY 31, 2023

Takeaway 2 Banks should be proactive in understanding fraud trends and FinCEN priorities to prepare for future rulemaking. Increased fraud According to the Federal Trade Commission , consumers lost more than $5.8 billion to fraud in 2021, a 70% increase over the prior year. That represents nearly 2.8 This checklist can help.

Fraud 195

Fraud Training Regulation Trends 195

Abrigo

DECEMBER 17, 2021

Adequate staffing is crucial for areas with high regulatory scrutiny , such as the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) and fraud functions. There are other non-routine aspects of AML and fraud requirements to consider when performing your 2022 staffing assessment. Be Prepared. Understanding importance.

Compliance 195

Compliance Training Fraud Resources 195

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

Abrigo

NOVEMBER 22, 2021

Consumer lending compliance — like other aspects of enterprise risk management at financial institutions — saw a huge impact from the COVID-19 pandemic. Examiners, therefore, will routinely consider whether consumer lending underwriting and pricing guidelines, policies, and procedures comply with these requirements. Pandemic Issues.

Compliance 195

Compliance Lending Risk Management Regulation 195

CFPB Monitor

OCTOBER 11, 2018

At the Online Lending Policy Institute’s (OLPI) annual summit in Washington, D.C. earlier this week, the OCC’s recent decision to accept applications from non-depository financial technology firms for a special purpose national bank (SPNB) charter was the focus of considerable discussion. Questions directed at Ms.

Policies 60

Policies Lending Data Online 60

Insights on Business

AUGUST 28, 2019

In our webinar yesterday, the first in the series AI Fraud Detection — Beyond the Textbooks , we ran out of time and weren’t able to address some great questions we had from the audience. What rules or models can you recommend to detect push-payment fraud”? Here’s why: All fraud models are predictors. Great question!

Fraud 70

Fraud Training Cards Data 70

PYMNTS

DECEMBER 2, 2019

China has implemented a new policy requiring citizens who want new phone service to scan their faces to verify identities instead of simply presenting ID cards, according to a report in The Wall Street Journal. 1), and it was ostensibly put into place to tamp down on fraud and stop the illegal sales of mobile phone cards.

Policies 130

Policies Mobile Maine Fraud 130

Abrigo

JUNE 2, 2021

The following six areas are critical when developing your exam planning: BSA/OFAC Policy integration. Are procedures in line with BSA Policy requirements? Does it include or have a separate OFAC Policy? Efforts to manage and mitigate BSA/AML deficiencies and risks must not be compromised by revenue interests.

How To 195

How To Training Compliance Policies 195

Abrigo

MARCH 24, 2023

Step two Identify inherent risk vs. residual risk Inherent risk is any activity or factor posed to the credit union, notwithstanding applying any management or risk mitigation tools. After adjusting the inherent risk for the credit union’s risk management controls, residual risk represents the bank or credit union’s current risk.

Fraud 195

Fraud Compliance Examples Analysis 195

PYMNTS

FEBRUARY 24, 2016

23), the National Retail Federation (NRF) reviewed various research efforts that mete out how serious the threat against companies’ digital data from their own internal employees is — as well as, perhaps even more seriously, the fact that many retailers might not be considering that threat. In a story posted yesterday (Feb.

Retail 100

Retail Fraud Survey Branding 100

Abrigo

FEBRUARY 8, 2022

However, this is rapidly changing as FinCEN envelops more businesses, such as antiquities dealers and those related to cryptocurrencies, under the umbrella of financial-related companies subject to BSA requirements, Consent orders among NBFI for non-compliance of BSA are becoming more common and should be understood by all NBFI management.

Compliance 195

Compliance Training Regulation Fraud 195

Abrigo

MARCH 23, 2020

On March 16, the Financial Crimes Enforcement Network (FinCEN) released a response to President Donald Trump declaring a national emergency related to the coronavirus. Institutions have already reported increases in scams, charity fraud, benefits fraud, and cyber-related fraud relating to COVID-19. learn more.

Security 195

Security Software Fraud Policies 195

Abrigo

FEBRUARY 6, 2020

foreign policy and national security goals to secure the global financial system and protect the United States from the threats of terrorism, human and drug trafficking, and economic damages. Join other BSA/AML and fraud professionals at the leading industry conference April 19-22! What does a “maximum pressure strategy” entail?

United States 195

United States Compliance Strategy National 195

PYMNTS

NOVEMBER 29, 2019

The company’s platform offers insurance for general liability, management liability, cybercrime and a range of other coverage. As a result, Hodges noted, insurance policies can be mispriced or might be less than ideally tailored for these firms. The total raised to date comes in at $70 million.

Policies 191

Policies California United States Management 191

Abrigo

JULY 16, 2021

Takeaway 1 FinCEN published its first list of priorities for AML/CFT policy, as required by the Anti-Money Laundering Act of 2020 (AMLA). Regulators will expect that each Priority has been incorporated into the institution’s policies and procedures. financial system and national security. financial system. financial system.

Community 195

Community Regulation Training Policies 195

Abrigo

MAY 5, 2022

Podcasts for Bank & Credit Union Execs & Staff Are Plentiful; Here Are 10 Good Ones These banking podcasts discuss current events, strategic and policy issues, competition, digitalization advice, and more. Fraud Prevention. And all release a new episode at least monthly. Would you like other articles like this in your inbox?

Community 195

Community Lending Maine Resources 195

FICO

JULY 31, 2019

As TPRM or third-party risk management grows in importance, so does cybersecurity risk assessment as part of it. The latest Assessment of Business Cyber Risk (ABC) report from the US Chamber of Commerce and FICO discusses four steps for improving third-party cybersecurity risk management. Let’s take a look at these four steps.

Cyber Security 70

Cyber Security Management Security Risk Management 70

Independent Banker

DECEMBER 31, 2022

From new fee practices to peer-to-peer fraud, keep an eye on what regulatory changes could be developing in the new year. In 2022, the House Energy and Commerce Committee passed a national data privacy bill, but the bill did not receive a vote on the House floor. Interest at the state and national level is expected to continue in 2023.

Compliance 100

Compliance FDIC Community Bank Community 100

FICO

MARCH 14, 2023

Many health plans around the world have automated their management of health insurance claims to a large degree. And while many may not be in the unenviable position of this national health plan, every health plan typically has a “wish list” of things that they would like to — or need to — do better in claims management.

Software 98

Software Management Analytics Operations 98