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. New account fraud.

Fraud 160

Fraud Strategy Community Bank New York City 160

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? From transaction monitoring to detecting unusual activities and facilitating report filing for reviews and audits, regtech solutions for banks can streamline and optimize compliance operations. The staff and support are very friendly, helpful, and responsive."

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? From transaction monitoring to detecting unusual activities and facilitating report filing for reviews and audits, regtech solutions for banks can streamline and optimize compliance operations. The staff and support are very friendly, helpful, and responsive."

Technology 195

Technology Fraud Compliance Regulation 195

PYMNTS

AUGUST 28, 2019

We are excited to bring our secure and scalable technology to Azure customers as we continue working with Microsoft Azure Marketplace to develop cloud-enabled blockchain solutions.”. ’ SEN is an important step toward changing this,” Joshua Rawlins, managing director of financial operations at Gemini, wrote in a blog post.

Policies 116

Policies National cryptocurrency Bitcoin 116

PYMNTS

DECEMBER 8, 2020

As the holiday shopping season kicks into high gear amid an unprecedented pandemic-era surge in online shopping, banks and merchants are bracing for an associated spike in fraud , disputes and chargebacks. Fighting Friendly Fraud. For every $1 in legitimate fraud, there is $13 in transaction value that is falsely declined,” he said.

Fraud 183

Fraud System Data Cards 183

PYMNTS

JANUARY 27, 2020

Growing attack-related expenses force businesses to remain vigilant against emerging threats, including phishing and other types of fraud that their own employees may willingly or unwillingly perpetuate. Ensuring Secure Workplace Practices. Other fraud attempts targeting workplaces are no less dangerous. Fighting the Phishers.

Fraud 249

Fraud Policies Security Resources 249

PYMNTS

MARCH 11, 2020

Regulators are passing stricter policies, as well as cracking down on anti-money laundering (AML), Know Your Customer (KYC) and sanctions noncompliance. FIs in the United Arab Emirates are also looking to get ahead of fraud with improved digital KYC practices. Taking A Local Approach To Fighting Money Laundering, Fraud Worldwide.

Fraud 150

Fraud Payments Guidelines Regulation 150

PYMNTS

DECEMBER 11, 2017

Federal Reserve System has appointed its Payments Security Strategy leader, the agency announced Friday (Dec. Kenneth Montgomery, first vice president and chief operating officer of the Federal Reserve Bank of Boston, is taking up the position. Treasury and financial market, among other responsibilities.

Security 112

Security Kansas City Payments Boston 112

PYMNTS

JUNE 22, 2020

Prosecutors allege Vinnik operated BTC-e without anti-money laundering (AML) controls and policies, which resulted in criminals laundering proceeds derived from illegal activities. Authorities also claim Vinnik operated several BTC-e accounts, including some tied to thefts from other virtual currency exchanges such as Mt.

Bitcoin 181

Bitcoin United States Fraud Policies 181

PYMNTS

OCTOBER 8, 2020

In addition, the company has strengthened its hiring, with several veterans of finance, policy and regulatory affairs joining the team. Feedzai has seen the increase in fraud and scams with the pandemic. The company says its fraud solution works to decrease costs and more efficiently target the activity. And meanwhile, 35.7

Report 247

Report Fraud Risk Management America 247

PYMNTS

JUNE 21, 2019

Fraud knows no boundaries. Aside from the political implications of such claims, The New Yorker ‘s report pointed to the fraud risks that organizations face, even from the C-Suite. It also highlighted the predicament that organizations face if a C-Suite executive is found committing fraud. In the U.S., In The UK, Too.

Fraud 108

Fraud Baltimore cryptocurrency Maryland 108

PYMNTS

AUGUST 28, 2018

Very Good Security (VGS), a startup working to protect data, told TechCrunch on Tuesday (August 28) that it raised $8.5 Andreessen Horowitz partner Alex Rampell is joining the Very Good Security board as a result of the investment. Very Good Security makes money by charging per data record and operation. per operation.

Security 100

Security Data Policies Operations 100

PYMNTS

DECEMBER 21, 2020

These growing revenue streams carry their own risks, however, not the least of which is their propensity to be targeted by fraud.”. Fraud is of course a problem in the MOA ecosystem, and the latest Mobile Order-Ahead Tracker® contains prescriptive ideas for dealing with bad actors while serving good food. Fighting Emerging Schemes.

Mobile 151

Mobile Fraud Policies Study 151

PYMNTS

OCTOBER 26, 2017

And in New Mexico, two Santa Fe government employees were placed on leave following a report that fraud is running rampant in their department. Internal fraud is, unfortunately, an all-too-common problem for businesses and government entities, especially with regards to misuse of p-cards. Fraud doesn’t happen here,’” he explained.

Fraud 108

Fraud Payments Cards Policies 108

PYMNTS

FEBRUARY 27, 2018

Regardless of the reason, these methods can pose problems, including reduced spend visibility, making it difficult to both track and enforce policy compliance and to perform back-office functions, such as reconciliation and reimbursement as well,” said GBTA Foundation Director of Research Monica Sanchez in a statement when the report was published.

Fraud 104

Fraud Marketing Payments Analysis 104

PYMNTS

NOVEMBER 1, 2016

Hitachi is teaming up with a regional bank in Japan to introduce anti-fraud ATMs. Joyo Bank, a regional lender located north of Tokyo, will begin operating the new anti-fraud ATMs early next year. “We Nonbank ATMs account for as much as 60 percent of fraud attempts in 2015, up from 39 percent in 2014.

ATM 100

ATM Fraud Mobile Regional 100

Abrigo

MAY 24, 2023

Bipartisan support The SAFE Banking Act's long road to the Senate Many in the AML/CFT community have been watching the unfolding of the Secure and Fair Enforcement (SAFE) Banking Act for some time now with no significant progress. Sherrod Brown, D-Ohio, in the same hearing.

Lending 195

Lending Fraud Operations Ohio 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

Independent Banker

MAY 31, 2022

Fraud and cyber attacks are on the rise, and at great expense to the industry. Here are some ideas for strengthening fraud defenses. Fraud and cybercrimes continue to increase, causing challenges for community banks. The bank works hard to prevent attacks with many defensive layers of security. By William Atkinson.

Community Bank 134

Community Bank Community Fraud Texas 134

FirstInternet

JUNE 30, 2021

Here is a list of 10 simple, cost-effective steps small business owners can take to prevent fraud, or mitigate its effects in their operations if it does occur. Have clear rules in place: Clearly stating your company policies and expectations makes it clear to workers what they can – and can’t – do in the workplace.

Fraud 52

Fraud Training Security Policies 52

Cisco

SEPTEMBER 8, 2020

When asked if the current disruption was creating a full plate for the bank, he simply said “It’s not a plate, it’s a buffet” There’s a good bit of positivity in that comment despite the on-going disruption to normal business operations.

Security 65

Security Data Operations Innovation 65

PYMNTS

OCTOBER 22, 2018

SWIFT announced Monday (October 22) the launch of Payment Controls, a new in-network solution to combat fraudulent payments and to help strengthen customers’ existing security. I am confident that the new service will be an important weapon in the fight against fraud.”.

Payments 122

Payments Fraud Security Community 122

Celent Banking

NOVEMBER 11, 2015

New York State Department of Financial Services (NYDSF) is one step closer to releasing cyber security regulations aided by the largest security hacking breach in history, against JP Morgan Chase. Mandated training of security will be required. Information security. Systems operations and availability concerns.

Cyber Security 100

Cyber Security Regulation Security New York 100

PYMNTS

JANUARY 8, 2020

In a new PYMNTS interview, Karen Webster talked with Yinglian Xie, CEO and co-founder of DataVisor , about some of the new trends in fraud, and why the travel industry is a big target for increasingly sophisticated criminals. Fraud Types. But it’s not just so-called cash-out attacks that present threats. . Broader Costs.

Fraud 136

Fraud Online Trends Industry 136

Abrigo

AUGUST 20, 2021

Transnational Organized Crime Reaches Far and Is Growing One of FinCEN's first priorities for AML/CFT policy is to combat transnational organized crime (TOC). The FBI explains TOC groups are “self-perpetuating associations of individuals who operate, wholly or in part, by illegal means and irrespective of geography.”

Training 195

Training Strategy Fraud National 195

PYMNTS

FEBRUARY 24, 2016

But the reality is that the greatest security threat facing retail companies, according to a number of recent surveys, often comes from within. It would appear, then, that not a lot of retailers are putting their money where their mouth is when it comes to protecting against cybercrime from within their own operations.

Retail 100

Retail Fraud Survey Branding 100

PYMNTS

MAY 31, 2019

The researchers, Noam Rotem and Ran Locar, found a breach that exposed 85.4GB of security audit logs. The viewable information includes alerts, system errors, policy violations and other cybersecurity events. The viewable information includes alerts, system errors, policy violations and other cybersecurity events.

Management 174

Management Company Data Florida 174

PYMNTS

APRIL 1, 2020

The debit card scene has evolved over the last three decades as consumer and business interest in increased and new policies gave merchants greater agency. Debit cards secured with PINs came into wide use in the 1990s, and regional card networks often processed such payments at the time. The Durbin Amendment.

Cards 141

Cards Payments Security Fraud 141

FICO

MAY 19, 2020

History tells us that things like natural disasters, times of economic instability, and fears of recession or unemployment provide the perfect environment for increased fraud and financial crime. So, I thought I would outline my top 5 fraud manager considerations during COVID-19. Examples include fake emails from CDC, WHO, and FEMA.

Fraud 52

Fraud Management Handbook Cards 52

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

CFPB Monitor

SEPTEMBER 8, 2022

In remarks yesterday to The Clearing House and Bank Policy Institute Annual Conference, Acting Comptroller Hsu discussed the growth “of banking-as-a-service (BaaS),” meaning arrangements in which a nonbank offers banking services to its customers as a way of adding value to its products and services.

Fintech 146

Fintech Risk Management Conference Lending 146

PYMNTS

SEPTEMBER 24, 2020

FIs that offer remittances must also comply with a variety of regulations intended to help ensure that terrorists and other criminals are unable to abuse the services to finance illicit operations and hide ill-gotten funds. Maintaining compliance with these important regulations can be challenging, but FIs cannot afford to slip up.

Compliance 223

Compliance Tools Fraud Regulation 223

Abrigo

APRIL 7, 2022

Not only are there in-house factors to consider, such as staffing proficiency, gaps in expertise, and niche markets to learn about, but if the institutions have dissimilar outlooks on security and compliance culture or widely different loan policies , due diligence requires you to assess potential concerns.

Compliance 195

Compliance Policies Fraud Analysis 195

PYMNTS

JULY 30, 2019

Emburse operates in the corporate travel and expense management space with its commercial card solutions, which can enable employees to access cards via text and digital wallet, or use physical cards. “We In addition to market consolidation, the corporate expense management landscape continues to see greater competition.

Cards 143

Cards Management Operations Policies 143

PYMNTS

FEBRUARY 9, 2020

Ransomware cyber-attacks are up 41 percent over last year, with 205,280 enterprises having lost access to hacked files, according to data from the ransomware security firm Emsisoft. Companies paid an average of $84,116 in the last quarter of 2019 to get their files back from online thieves, according to data from security firm Coveware.

Data 189

Data New York Bitcoin Security 189

FICO

JANUARY 25, 2021

The goal of CIM is to meet regulatory rules and legislation, prevent fraud and financial crime, and manage risk—all while making it simple for customers to transact. Customer identity management operates today in an unpredictable environment. Fraud prevention. Follow my posts on fraud and identity management at @dougoclare.

Management 98

Management Fraud Customer Experience Compliance 98

PYMNTS

DECEMBER 12, 2017

It will also help reduce merchant operating expenses tied to retaining customer signatures. Our fraud capabilities have advanced so that signatures are no longer necessary to fight fraud. “Our Our fraud capabilities have advanced so that signatures are no longer necessary to fight fraud.

United States 119

United States Fraud Policies Cards 119