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.

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Fraud Payments Guidelines Regulation 150

PYMNTS

JULY 2, 2020

As scrutiny over Wirecard and EY continue to grow, a broader debate is seeing a resurgence over what role, if any, auditors play in identifying and preventing corporate fraud. Fraud Concerns Arise. It wasn’t the first time the company’s financials came under scrutiny either. ” Swift Blowback. The Auditor’s Role.

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Fraud Report Company Regional 152

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.

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Fraud United States Regional Cards 116

PYMNTS

AUGUST 21, 2020

While Chinese traders are limited to the purchase of up to $50,000 of foreign currency annually, the volume suggests stablecoins could be being used to circumvent the regulation, according to Chainalysis , the New York-based provider of regulatory compliance software.

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cryptocurrency Report Regional Capital 349

PYMNTS

JUNE 3, 2020

In Latin America, such a company exists in the form of MercadoLibre , a triple-threat regional financial powerhouse based in Argentina. It is one of the region’s fastest-growing companies, having just turned in a stellar first quarter in a region that has more complexities than any of its northern neighbors. ”

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America Regional Fraud Mobile 248

PYMNTS

FEBRUARY 21, 2018

We allege that BitFunder operated unlawfully as an unregistered securities exchange,” Marc Berger, director of the SEC’s New York regional office, said in the release. Mehraban, associate regional director of the SEC’s New York regional office, said in the release. “We In a parallel criminal case, the U.S.

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Fraud Bitcoin New York Regional 102

PYMNTS

SEPTEMBER 17, 2020

which is based in Nevada, purportedly provides online retailers with fraud detection and prevention technology, according to the statement. “As As alleged in our complaint, Rogas falsely presented NS8 as a successful business by fabricating revenue figures and providing them to investors,” SEC Denver Regional Office Director Kurt L.

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Nevada Denver Fraud Security 253

PYMNTS

SEPTEMBER 28, 2020

Banks, businesses and consumers fundamentally altered how they interacted with each other in the early months of the COVID-19 pandemic — and regulators tasked with making sure their data and payments are kept safe took notice. Regulators in countries like Egypt have only recently rolled out their data protection rules.

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Online Report Payments Regulation 151

PYMNTS

FEBRUARY 4, 2020

Open Banking’s European success has kicked off interest in similar regulations worldwide, most notably in China, India and Singapore, where digital banking’s popularity among general consumers is rapidly rising. Numerous regions then announced internal deadlines for compliance that often diverged from their neighbors’ deadlines.

Fraud 144

Fraud Regulation Compliance Innovation 144

PYMNTS

MAY 22, 2018

A bill that would give regional banks a break on regulation was before the U.S. Groshans said that such financial institutions as Zions, Regions Financial, Citizens Financial, Huntington, American Express and Keycorp would benefit from the law. The Economic Growth, Regulatory Relief, and Consumer Protection Act , S.

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Regulation Regional Community Community Bank 100

FICO

MARCH 7, 2023

Home Blog FICO Responsible AI: Are European Firms Ready for the Regulators? There are significant changes coming in Europe, which highlight getting a handle on responsible AI use, with the banking and financial services sector among those that will be most impacted by increasing regulation.

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Regulation America Compliance Fraud 52

PYMNTS

OCTOBER 6, 2020

Ayoub Jemail has been assigned the role of general manager of business development for the region, the company stated in the announcement on its website. The company stated that it is expanding in the region, seeking new business and also looking to provide more support for existing customers, such as Mashreq Bank.

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Fintech Regional Fraud Meeting 174

PYMNTS

MARCH 28, 2018

With concerns that technology companies can face more regulation, tech stocks were declining all over the globe — with the tech-heavy Nasdaq falling 2.9 According to The Wall Street Journal , on Wednesday (March 28) the Stoxx Europe 600 was trading down in mid-morning action while in Asia tech stocks brought markets in the region lower.

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Regulation Google Regional Marketing 108

PYMNTS

DECEMBER 12, 2019

Players in the sharing economy must contend with an increasingly complex online payments ecosystem as they move into new regions and attract participants to their platforms. Fraud, Payment Regulations Are Affecting Seamless Payments. Renters pay upon booking trips, and owners receive their payments once trips have begun.

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Payments Fraud Regulation Innovation 137

PYMNTS

MARCH 11, 2016

The EU regulators are set to release this data as part of their year-long investigation into potential barriers of the cross-border eCommerce ecosystem. It also could give the regulators the information necessary to make a case against companies that may be committing anti-fraud practices.

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Regulation Regional Analysis Fraud 100

PYMNTS

MARCH 7, 2019

Merchants and customers are now transacting under PSD2 and GDPR in the European Union (EU) — regulations that allow a greater window into how customer data is being used. While these regulations are aimed at increasing consumer trust by allowing them more transparency, many consumers in the region are still adjusting.

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Lending Regulation Regional Data 198

FICO

MARCH 10, 2022

I’ve been writing recently about the results of our recent global consumer fraud survey. But like most things, it’s not as simple as it sounds, as large customer groups are likely to switch banks if they are dissatisfied with their response to a fraud management incident (more on that in a moment). a biometric).

Fraud 52

Fraud Survey Cards Customer Experience 52

FICO

DECEMBER 14, 2021

But European fraud and financial crime have continued to evolve. In the UK, Action Fraud reported several hundreds of cases of people receiving emails claiming to be from the NHS, offering them a vaccine passport, prompting them to click on a link and input their personal and financial details. Related scams have also been on the rise.

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Fraud Management Data Trends 52

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

Abrigo

AUGUST 22, 2019

Training is especially important for the BSA officer, who “is expected to be fully knowledgeable about the BSA and all related regulations,” as a recent Federal Reserve Bank of Minneapolis publication noted. One option that makes it easy for BSA officers to complete required training is to attend regional meetings. Fraud Prevention.

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Training Las Vegas Alabama Minneapolis 150

PYMNTS

FEBRUARY 28, 2020

In a report titled “The Dark Side of Latin America,” IntSights, which monitors cyberthreats, said Latin America is among the top regions for money laundering, done at least in part through cryptocurrency, and that such tactics are favored by organized crime.

America 217

America cryptocurrency Regional ATM 217

PYMNTS

NOVEMBER 8, 2020

Now, Reuters reported Amazon is lodging a complaint with India's market regulator. The whole controversy has likely damaged Amazon's ties with Ambani, who is Asia's richest man, and the Reliance group, fast spreading in the region as a leader in eCommerce. But Future said that order is non-binding. On Saturday (Nov.

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Retail Industry Regional Groups 230

PYMNTS

MARCH 3, 2020

Digital-first transformations can improve personalization and operating efficiencies, but they also bring challenges, including adoption-related costs and new avenues for fraud. Alabama-based Regions Bank deployed advanced ATMs as part of its digital push, replacing human tellers at many of its drive-thrus. million.

ATM 151

ATM Fraud Study Regional 151

Bank Innovation

MARCH 2, 2018

The 16 registered cryptocurrency exchanges currently operating in Japan will soon form a self-regulating body, after a $530 million heist of digital coins in the region led to investor concerns, Reuters reported today.

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cryptocurrency Regional Regulation Operations 199

PYMNTS

NOVEMBER 8, 2020

According to the release, Ripple chose DIFC for its “innovative regulations, expansive network and reputation as a leading global financial centre,” according to the release, with the two companies “aligned” in their visions for the future.

Bitcoin 155

Bitcoin blockchain Fraud Conference 155

PYMNTS

MAY 20, 2020

Making cross-border payments in the EU therefore requires interconnectivity between the regions’ various real-time payments rails. This marked the first real-time payments regulatory framework in the region that addressed all EU countries. Official guidelines and regulations can only go so far, however.

Payments 210

Payments Guidelines Regional Strategy 210

FICO

JANUARY 22, 2020

There has been a proliferation of real-time payments fraud, as new near-instant payment platforms, including person-to-person (P2P) transfers and mobile payment platforms grow across Asia Pacific. . We recently conducted a survey with banks in the region and found that 4 out of 5 (78 percent) have seen their fraud losses increase.

Survey 52

Survey Fraud Payments Regional 52

PYMNTS

NOVEMBER 3, 2020

Lingering economic uncertainty and growing fraud rates in multiple markets are prompting consumers to sharpen their focus on privacy and security. Regulators are more seriously examining consumers’ privacy concerns, which could have a significant impact on open banking rules in the future. and the EU.

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Study Data Regulation Digital Banking 192

PYMNTS

JULY 16, 2019

Additionally, other companies are still working to change their platforms to comply with General Data Protection Regulation (GDPR) as that regulation continues to sweep across Europe. Both banks and regulators are re-examining how exactly SCA will affect the financial ecosystem. Around the PSD2 and GDPR Worlds.

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Strategy social media Regulation Retail 188

PYMNTS

JANUARY 30, 2019

They face the challenge of offering customers a smooth onboarding process while also remaining rigorous in know your customer (KYC) efforts, taking care to remain compliant with local anti-money laundering (AML) regulations that aim to keep criminals from using legitimate operations to move money illegally. News From The AML/KYC Ecosystem .

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How To blockchain Compliance Regional 170

PYMNTS

JULY 16, 2020

Companies will have to choose between whether to move personal data to servers in Europe or stop doing business in the region. There are concerns regarding how to best safeguard the information being shared on these channels, however, especially as healthcare fraud now accounts for about $300 billion in annual industry losses.

Data 212

Data US Regional Resources 212

PYMNTS

MARCH 11, 2019

With a permissioned blockchain network , services can be shared between credit unions, which could improve identification authentication and compliance surrounding regulations, know your customer, lending and payments. Under the plan, credit union members would be able to access the CULedger via a digital credential dubbed MyCUID.

blockchain 160

blockchain Regulation Community Bank Regional 160

PYMNTS

AUGUST 3, 2020

It is unclear whether the bank knew its services were being used to skirt anti-money laundering regulations, the paper reported. ‘Ndrangheta operates from the Calabria region in Southern Italy. .” The FT added: “Since then, more than 30 people have been sentenced for mafia-related crimes linked to the case.”

Regional 362

Regional Online Fintech Regulation 362

PYMNTS

APRIL 18, 2019

The PSD2 -related regulation counts itself among a raft of those set to become law across the continent, focusing on boosting online commerce security by requiring cardholders to provide two forms of identification to verify their identities when transacting. A September to Remember. Those under €30 ($33.93

Fraud 148

Fraud Regulation Compliance Online 148

PYMNTS

JUNE 28, 2018

But the recent thefts, along with other attempted and completed cyberattacks, demonstrate why payments officials in the region are expressing fresh concern about financial security there. Fraud is a Top Worry. Evidence of that comes from Swift’s Latin America Regional Conference , held earlier this month in Miami.

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America Security Miami Conference 102

PYMNTS

MARCH 25, 2019

The Netherlands, for instance, only recently implemented it because it needed to make sure that consumers’ personal data will remain protected, as payments in the region are mostly digital. The country was unenthused, she said, adding that the new PSD2 law is viewed as “a way of regulating activity that is in the market already.”.

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Regional Regulation Data Payments 108

PYMNTS

OCTOBER 10, 2019

Consumers have noticed the rising levels of fraud in digital banking, and they are not pleased. Financial institutions (FIs) need to keep watch for newer schemes as they seek to prevent different forms of fraud, such as money laundering, on their online platforms. Synchrony Financial Upgrades Its AML Strategy As Fraud Grows.

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Fraud Digital Banking Strategy Security 126