PYMNTS

DECEMBER 16, 2020

More than 100,000 eateries — or about one in six restaurants nationwide — have closed due to the pandemic, according to National Restaurant Association estimates. Mobile ordering apps are largely responsible for keeping the industry above water, but fraud still plagues the sector. ChowNow's Fraud-Fighting Lessons Amid The Pandemic.

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Fraud social media Mobile Trends 310

PYMNTS

DECEMBER 2, 2019

Looking back at 2019, and at cryptocurrencies, we may well make the declaration that fraudsters got a lot more brazen … which may mean 2020 is the year lawmakers and regulators clamp down through a global, concerted effort to root out financial crime. billion in fraud and theft seen last year. billion number is a huge jump from the $1.7

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Fraud Report cryptocurrency National 130

Abrigo

MARCH 4, 2022

Synthetic ID fraud is growing quickly and hurts FIs and customers Knowing the schemes associated with synthetic identity fraud and how criminals avoid detection can help minimize losses. Takeaway 1 Synthetic identity fraud is a growing form of identity theft in which an individual is impersonated by using stolen information.

Fraud 195

Fraud Cards Software Trends 195

Perficient

APRIL 2, 2021

The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the. fraud detection and financial crime monitoring). Office of the Comptroller of the Currency (OCC). Cybersecurity.

Regulation 309

Regulation Industry Risk Management Analysis 309

PYMNTS

SEPTEMBER 23, 2020

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. There were 223,163 cases of identity theft that year across all generations, with 42 percent of them consisting of bank and credit card fraud.

Technology 208

Technology Report Fraud Study 208

PYMNTS

MAY 15, 2018

The Central Bureau of Investigation (CBI), India’s main investigative agency in the country, has filed charges in the Punjab National Bank fraud case against Nirav Modi, the jewelry retail owner, and his uncle Mehul Choksi, as well as senior executives at the state-run lender. Twenty other officials were also suspended.

Fraud 100

Fraud National Maine System 100

Abrigo

DECEMBER 10, 2019

Key Takeaways Elder financial abuse/exploitation (EFE) is under-reported although it remains on the rise. ABA study shows banks are reporting more cases of EFE. The Senior Safe Act provides a safe harbor for financial institutions reporting suspected EFE. . The under-reported and growing crime. billion annually.

Fraud 284

Fraud Study United States Training 284

Perficient

DECEMBER 27, 2023

Other, traditional financial crime risks, especially fraud, continue to demand banks’ vigilance. Significant increases in Suspicious Activity Reports (SAR) filings related to fraud highlight the importance of effective processes to prevent, identify, and file SARs within a timely manner.

Compliance 221

Compliance FDIC Regulation Fraud 221

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

Perficient

AUGUST 16, 2023

A rather small bank, as of the end of its first quarter, the bank reported $139 million in total assets and $130 million in total deposits in its FDIC Call Report. Heartland Tri-State began operations in 1985 under the name First National Bank of Elkhart. bank to fail this year.

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United States Kansas FDIC Risk Management 221

PYMNTS

SEPTEMBER 21, 2020

A shocking new report reveals an underworld of corruption in the world’s banks and how governments allow it to thrive, BuzzFeed News reported. The report found the illegal profits from the drug trade, cash stolen from developing countries and Ponzi schemes flow through financial institutions despite warnings from bank employees.

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Report North Carolina United States New York 279

Abrigo

FEBRUARY 9, 2024

If approved as written, professionals involved in real estate closings and settlements will have to report information to FinCEN about non-financed residential real estate transfers to legal entities or trusts. residential real estate sector but safeguarding our economic and national security.” Know the red flags for money laundering.

Training 195

Training Fraud Trends Report 195

Abrigo

JANUARY 17, 2024

The United Nations estimates there are currently 40 million people enslaved around the world, and that one-quarter of them are children. Prevention and detection AML red flags for human trafficking For financial crime professionals, it can be challenging to track, detect, and report human trafficking based on financial transactions.

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Training Community Software Texas 259

Abrigo

JULY 10, 2020

Community banks and credit unions partnered with their communities to help families and businesses through these unprecedented times , causing spikes in consumer fraud that must be faced head on. According to the new advisory , t wo fraud typologies are trending: imposter scams and money mule schemes. Loan Origination System.

Fraud 195

Fraud Lending Software Analytics 195

PYMNTS

APRIL 9, 2020

million ransom to get their systems back online, The Wall Street Journal reported. A Travelex spokesman told the WSJ that the firm got advice from security experts on how to proceed, and have kept its investors and regulators up to date on the recovery.

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Report Groups Data Cards 279

Perficient

DECEMBER 22, 2023

Looking Forward The OCC maintains a technology-neutral stance and supports continuing efforts by national banks and federal savings associations to explore safe and sound uses of new and emerging financial technology such as AI.

Risk Management 221

Risk Management Compliance Fraud Regulation 221

PYMNTS

JULY 23, 2019

China’s banking regulator is introducing stricter requirements on banks and insurance institutions that provide supply chain financial solutions in an effort to curb fraud, according to China Daily reports last week. Regulators Step In. JD.com, Suning.com Spark Concerns.

Fraud 128

Fraud Regulation Report Management 128

Abrigo

OCTOBER 19, 2023

Launched to provide resources Cybersecurity Awareness Month was launched in 2004 by the National Cybersecurity Alliance (NCA) and the U.S. The idea was to create a national campaign to educate people about cybersecurity basics, such as using strong passwords, updating software, and avoiding phishing emails.

Online 221

Online Security Resources Training 221

PYMNTS

MARCH 18, 2019

Authenticating.com is working to combat identity fraud by combining different solutions to securely automate and outsource identity verification and fraud prevention as a service. According to a 2017 report from the FBI’s Internet Crime Complaint Center (IC3), there have been $1.4

Fraud 108

Fraud Knowledge Base Regulation Data 108

PYMNTS

JUNE 26, 2020

Brussels is seeking an investigation into the Federal Financial Supervisory Authority ( BaFin ), Germany’s financial regulatory authority, for its failure to supervise Wirecard, the Financial Times reported. He has said allegations about Wirecard’s accounting practices are false and misleading, the newspaper reported.

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Regulation Capital Policies Course 152

PYMNTS

SEPTEMBER 18, 2020

We have deep dives on digital onboarding at universities, subscriptions and quick-service restaurant (QSR) friendly fraud. The firm, in addition to KPMG, EY and PwC, had been cautioned by regulators that their companies had to break off their consulting divisions from their audit arms. Trackers and Reports. Top News .

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Fraud Apple California Innovation 141

PYMNTS

DECEMBER 7, 2018

regulators earlier this year has collapsed after a judge dismissed the case due to lack of evidence, reports in the BBC said Thursday (Dec. Serious Fraud Office (SFO) unsuccessfully attempted to have Judge Sir John Royce’s decision overturned. The case against two former Tesco directors initiated by U.K.

Fraud 108

Fraud Regulation Report National 108

PYMNTS

NOVEMBER 28, 2018

Facebook could face coordinated regulation by nine countries after chief executive Mark Zuckerberg refused to be questioned by an international committee on fake news. According to a report in the Financial Times , members of parliament from Argentina, Brazil, Canada, Ireland, Latvia, Singapore, France, Belgium and the U.K.

Regulation 145

Regulation Policies US System 145

PYMNTS

JANUARY 31, 2019

The growth of Same-Day ACH seems to also suggest that previous concerns about the risk of more fraud as a result of accelerated transactions has not held the industry back from adopting the functionality. Accelerated payments are taking off in several markets around the world, and NACHA’s latest figures demonstrate U.S. a decade ago.

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Fraud Payments Compliance Regulation 182

PYMNTS

DECEMBER 26, 2018

A 2017 Annual Cybersecurity Report (ACR) from Cisco found companies that suffer a data breach could have customer, opportunity and revenue losses exceeding 20 percent. Ackerman added that a number of states will adopt some version of Europe’s strict General Data Protection Regulation ( GDPR ). According to Robert Ackerman, Jr.,

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National Washington Data Security 192

PYMNTS

AUGUST 2, 2019

Regulators’ influence over non-banks is limited, and banks are left to vet their own vendors. Bank regulations hadn’t “sufficiently modernized to accommodate cloud and other innovative technologies,” according to a U.S. Treasury report last year, the WSJ said. Efforts from lawmakers in the U.S.

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Regulation Virginia Google Capital 144

PYMNTS

JUNE 24, 2019

The FATF has also said crypto companies and exchanges will be registered and will be required to report suspicious transactions, and to perform checks on customers. And, as reported by Reuters, at least one cryptocurrency, Monero, has been able to hide all details of a transaction.

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Regulation social media cryptocurrency United States 129

PYMNTS

JULY 21, 2017

If a data breach is a sprint — where a fraudster grabs as much data as he or she can, as quickly as possible, in an effort to maximize ill-gotten gains — the fight against fraud is a marathon. Fraud varies country to country, region to region. Europe may offer a tell on the fraud to come. A marathon that never ends.

Fraud 116

Fraud United States Regional Cards 116

Abrigo

JUNE 27, 2023

Key Takeaways Real estate markets are vulnerable to money laundering and fraud because of their transaction size and appreciation over time. Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases. In 2017, over 5.51

El Paso 195

El Paso Miami United States New York City 195

PYMNTS

JANUARY 29, 2020

The National Institute for Smart Governance (NISG) in India has published a report recommending that laws around blockchain should be based on what the technology does, and not the technology itself, according to a report Tuesday (Jan. said that national policy might not be enough in terms of crypto regulation. . “We

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Bitcoin Regulation blockchain Delaware 132

Abrigo

AUGUST 20, 2021

When the Financial Crimes Enforcement Network (FinCEN)’s released its inaugural national priorities list for policy related to anti-money laundering and countering the financing of terrorism (AML/CFT), one of the eight priorities included on the list was transnational organized crime (TOC). million men, women, and children.

Training 195

Training Strategy Fraud National 195

PYMNTS

SEPTEMBER 22, 2017

The National Bank of Canada, the sixth largest lender in Canada, has become the latest high-profile firm to announce a data breach. According to a report in Reuters , the National Bank of Canada said Thursday (Sept. The revelation on the part of National Bank of Canada comes as consumers in the U.S.

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National Security Data Software 123

PYMNTS

OCTOBER 13, 2020

Across the globe, terrorists and criminals are leveraging cryptos in what is gearing up to be a significant national security threat to the United States. In the report from the U.S. The terrorist threat, in particular, represents what the report termed “the first raindrops of an oncoming storm.” That’s according to the U.S.

cryptocurrency 206

cryptocurrency United States social media Regulation 206

PYMNTS

OCTOBER 14, 2019

Money laundering and similar forms of fraud have become more concerning for FIs as reports of cybercrime circulate globally. Between $800 billion and $2 trillion USD is laundered each year, according to the United Nations Office on Drugs and Crime, and fraudsters undoubtedly hope to raise those amounts.

Strategy 109

Strategy Fraud Innovation Regulation 109

PYMNTS

SEPTEMBER 23, 2020

Plus, the State Administration for Market Regulation in China has fined Luckin Coffee and other firms. The idea of a digital token has been touted by a number of nations and firms lately. Chinese Regulator Fines Luckin, 43 Other Companies In Fraud Case. The regulator said on Tuesday (Sept.

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Cards Google Regulation cryptocurrency 214

PYMNTS

APRIL 3, 2020

Department of the Treasury is reminding lenders to be on the lookout for fraud as the coronavirus grips the nation. FinCEN said it will continue outreach to regulators and banks to ensure compliance with the BSA, and the agency will issue additional new information as needed. FinCEN said the former executive at U.S.

Fraud 141

Fraud Compliance National Regulation 141

Abrigo

NOVEMBER 2, 2021

On January 1, 2021, the Senate voted into law the National Defense Authorization Act (NDAA). The intention of the BSA has always been to detect and report criminal financial activity and deter criminals from flowing illicit gains through the U.S. With the 2021 change in administration in Washington, D.C., financial institutions.

Compliance 195

Compliance Regulation Resources Policies 195