PYMNTS

DECEMBER 18, 2020

Criminals seeking to exploit unmet demand for the COVID-19 vaccine are selling doses – many presumably fake – on the "dark web," the portion of the internet dominated by merchants who operate beyond easy reach of law enforcement agencies, the Financial Times reported on Friday (Dec.

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Report United States social media Guidelines 274

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

PYMNTS

JULY 26, 2020

The Securities Commission Malaysia (SC) is planning to expand regulations to encompass digital asset wallet providers, adding to its frameworks that currently address Digital Asset Exchanges (DAX) and Initial Exchange Offering (IEO), the SC announced Thursday (July 23). Meanwhile, in the court case United States v.

Bitcoin 161

Bitcoin Regulation United States Operations 161

PYMNTS

OCTOBER 30, 2020

It cannot be overstated how integral non-cash payments are to the global economy, with the United States processing more than 174.2 Compliance with oversight laws, especially those involving anti-money laundering (AML) or know-your-customer (KYC) regulations, is a perennial struggle for FIs of all sizes. Automating Compliance.

Operations 228

Operations Payments Compliance System 228

Abrigo

APRIL 6, 2022

Takeaway 2 The change includes an obligation to inform regulators of a “notification incident” ASAP and no later than 36 hours after a reportable event occurs. On April 1, 2022, new computer-security incident notification requirements for banks and their service providers take effect in the United States.

Security 195

Security Regulation District of Columbia United States 195

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. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year. That’s according to the U.S. In the report from the U.S.

cryptocurrency 206

cryptocurrency United States social media Regulation 206

PYMNTS

JUNE 24, 2019

Amid the announcement of a new cryptocurrency – that would be Libra – the Financial Action Task Force (FATF), which operates as global regulatory firm based in Paris with a membership roster of countries such as China and the United States, has said it will boost its examination of digital currencies with an eye on money laundering.

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Regulation social media cryptocurrency United States 129

PYMNTS

SEPTEMBER 3, 2019

Ad fraud’s prevalence is largely due to two factors: The lack of regulation and the sheer complexity and volume of online advertising. Banks may process $1 million worth of credit card fraud requests in a day, but ad fraud detectors can face up to 20,000 requests every second. Ad fraud can take a variety of forms.

Fraud 123

Fraud San Francisco social media Tools 123

PYMNTS

DECEMBER 8, 2020

A recent survey of the 20 largest United States financial institutions (FIs) found that 20 percent still force customers to complete onboarding by visiting bank branches or speaking on the phone, with full online sign-up not allowed. It also noted that it stopped 144,946 fraud attempts from March through September.

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Video Report Meeting United States 211

Abrigo

JUNE 23, 2020

As most operations have shifted to a digital-first world due to the coronavirus pandemic, institutions have had to adjust and adapt new technologies to stay competitive and thrive during these times. We understand the trust you put in us when you use our BSA/AML and fraud software and we make the same investment in your program’s success.

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Software Community Fraud Resources 195

PYMNTS

SEPTEMBER 21, 2020

BuzzFeed said the thousands of suspicious activity reports, authored by lenders and shared with the government, offer a glimpse into global corruption enabled by banks and allowed to flourish by regulators. Standard Chartered moved cash for a Dubai business that was later accused of laundering cash on behalf of the Taliban.

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Report North Carolina United States New York 279

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

FEBRUARY 14, 2019

14), CNBC reported that JPMorgan Chase will be rolling out the first cryptocurrency on offer from a major bank based in the United States. CEO Jamie Dimon has also famously dismissed bitcoin as a fraud. Thursday morning (Feb. The digital coin is designed to settle payments instantly between the bank’s customers.

cryptocurrency 140

cryptocurrency blockchain Bitcoin United States 140

PYMNTS

APRIL 30, 2020

The COVID-19 pandemic has caused an impact on open banking developments worldwide as regulators, financial institutions (FIs) and businesses set their sights on helping their current customers rather than future innovations. where regulators have been workshopping potential rules for several years. Seventy percent of U.S.

Regulation 188

Regulation Regional Data United States 188

Gonzobanker

JUNE 14, 2023

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act. But fear not, compliance-conscious compadres.

Compliance 109

Compliance FDIC Strategy Fintech 109

PYMNTS

NOVEMBER 21, 2018

AI’s less sophisticated (but much more well-known) cousin machine learning needs supervision to learn, though the technology is certainly capable of high-level fraud prevention and business operational tasks — which is why financial institutions have adopted ML, as the report has shown. percent use it to fight internal fraud. “AI

Data 192

Data System Technology Fraud 192

PYMNTS

SEPTEMBER 11, 2019

Treasury official Sigal Mandelker, who serves as undersecretary of the Treasury for Terrorism and Financial Intelligence, said cryptocurrencies that operate anywhere in the United States will have to comply with regulations that target fraud. On Wednesday (Sept.

social media 116

social media cryptocurrency Regulation United States 116

PYMNTS

AUGUST 11, 2017

FBI documents have revealed a global financial network run by a senior Islamic State official that funneled money to an alleged ISIS operative in the U.S. The affidavit indicates that several other alleged operatives had been arrested in Britain and Bangladesh. through fake eBay transactions.

US 106

US Maryland social media United States 106

PYMNTS

JANUARY 22, 2018

The regulators have been looking at cryptocurrency operators – and in the United States, at least, are firing shots across the regulatory bow. In addition, the regulator charged, the three operators broke laws governing commodity trading. And now begin the lawsuits.

cryptocurrency 122

cryptocurrency United States Operations Regulation 122

PYMNTS

JUNE 14, 2019

Coverage includes Visa’s new B2B push, new trackers and research on fraud and digital ID, Uber financial services and Mastercard’s biometric vision. Stripe has announced that Stripe Terminal , a set of SDKs, APIs, and pre-certified card readers that lets users accept in-person payments, is now available all over the United States.

San Francisco 100

San Francisco Fraud United States Google 100

PYMNTS

JUNE 14, 2019

Coverage includes Visa’s new B2B push, new trackers and research on fraud and digital ID, Uber financial services and Mastercard’s biometric vision. Stripe has announced that Stripe Terminal , a set of SDKs, APIs, and pre-certified card readers that lets users accept in-person payments, is now available all over the United States.

San Francisco 100

San Francisco Fraud United States Google 100

PYMNTS

SEPTEMBER 9, 2019

Hurricane Dorian may be officially over, but for those in the Southeastern United States and the Bahamas, the rebuild is just getting started. Checks also come with their own fraud and security problems, particularly in chaotic situations when it is easier than usual for the wrong person to intercept and misuse a payment.

Payments 171

Payments Industry Cards United States 171

PYMNTS

MAY 29, 2018

Companies based in the United States that contend the directive would be costly, were they to comply — costly to the tune of millions of dollars. The newswire stated the mandate in India may have a ripple effect and may push the needle toward a similar walling in of data. On the other side of the equation? That trio of U.S.

Data 101

Data United States Compliance Cards 101

PYMNTS

OCTOBER 11, 2016

Treasury has reportedly dubbed international payments processor PacNet, which operates Counting House, a “criminal organization,” and reports said the move could cause trouble for FX brokers. ” PacNet has operations in Canada, the U.K. ” PacNet has operations in Canada, the U.K.

United States 100

United States Operations Regional Report 100

PYMNTS

AUGUST 1, 2018

Supreme Court struck down state bans on sports betting, MGM Resorts International has signed deals with the NBA and other operations that could mark the first chapter of the country’s new sports and gambling culture. MGM officials will also reportedly help the league detect fraud and game-fixing. technology hub.”.

United States 101

United States Online New York Louisiana 101

PYMNTS

MARCH 9, 2020

To that end, PayPal said last month that it would team with law enforcement agencies, academics and experts to track how payments are used to traffic firearms illegally through the United States. But if you think about trafficking,” he said of the flow of illegal firearms, “there’s a huge financial backbone to these operations.

Data 177

Data United States Chicago Community 177

PYMNTS

FEBRUARY 21, 2018

Perhaps it isn’t surprising that analysts are now musing about how to avoid a repeat of the Punjab National Bank fraud scandal, and some are looking towards blockchain to do so. As regulators begin to consider blockchain regulations, many have signaled a desire not to hamper innovation while doing so. United States.

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blockchain Los Angeles Regulation Oregon 130

PYMNTS

JULY 10, 2020

Open banking comes in several flavors, yet its rise requires robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, Zac Cohen , chief operating officer at identity verification firm Trulioo told Karen Webster in a recent interview. Regulation Vs. Market Forces. Cohen said.

Data 272

Data Innovation Fintech Illinois 272

PYMNTS

OCTOBER 18, 2019

In the United States, according to some sources such as Javelin , more than one million children were victimized by identity theft — and the fraud costs their families more than $540 million. When we talk about fraud, whatever kind it is,” he told Webster, “we often talk about susceptibility.”

Fraud 106

Fraud Security social media Tools 106

PYMNTS

MAY 27, 2020

CU branches across the United States have temporarily closed to help slow the spread of contagion, forcing CUs to find new ways to engage with their members via connected technologies, from mobile devices to laptops and especially ATMs. About The Tracker.

ATM 243

ATM Innovation Meeting United States 243

PYMNTS

SEPTEMBER 6, 2019

Seven European payments operators — most of them owned by banks — that own and operate mobile payments services said that they are in the midst of building a pan-European network focused on cross-border mobile payments. Visa: Chip Cards Reduce Counterfeit Fraud By 87 Pct. Regulators Taking Close Look At Payroll-Advance Apps.

Innovation 116

Innovation Payments Apple United States 116

Abrigo

DECEMBER 22, 2023

The most popular financial crime blogs in 2023 Check fraud, the SAFER Banking Act, and BSA exam topics were among Abrigo's top blogs on AML/CFT and fraud this year. You might also like this infographic on the true costs of fraud at financial institutions. Here are Abrigo’s 10 top AML and fraud blogs in 2023.

Fraud 221

Fraud Training Compliance Trends 221

PYMNTS

NOVEMBER 6, 2017

The numbers are sobering, as always: The Federal Trade Commission (FTC) has found that account takeover fraud is on the rise. Synthetic identity fraud – where identities are stitched together from disparate pieces of information, often from a mosaic of individuals – is a burgeoning field. Regulation as Saving Grace? Think again.

Security 109

Security Data Fraud Regulation 109

PYMNTS

JUNE 5, 2019

Bloomberg reports that a slew of regulators and investigators are looking into QuadrigaCX’s shuttering of operations earlier this year. The case of the curious crypto exchange, and its quick collapse, deepens. The exchange’s customers, numbering more than 115,000, have been unable to access $195 million in crypto and cash holdings.

District of Columbia 128

District of Columbia Bitcoin United States Resources 128

PYMNTS

MARCH 15, 2019

In fact, according to new PYMNTS research, digital services are expanding in the United States and in markets around the world. Best practices about how to combat those rates and protect against fraud and chargebacks are still emerging. “We Consumer Communication.

Retail 146

Retail Payments Cards United States 146

PYMNTS

JULY 20, 2017

Committing identity fraud is typically at the core of data-stealing schemes in an attempt to steal money. One of the seemingly largest barriers for banks with blockchain technology are federal-level regulations. Meanwhile, in the United States, we’re just starting to dip our toes into the blockchain pool. In the U.S.

blockchain 105

blockchain Bitcoin Delaware Illinois 105

PYMNTS

APRIL 14, 2017

From an ACH networks standpoint, noted Estep, innovation may be “skinny,” but operations are ubiquitous, connecting all the bank accounts in the United States. Safety and security are also key concerns, he added, in order to identify suspicious activity and stop fraud. This means modernizing the financial system.

Payments 105

Payments United States Innovation System 105