PYMNTS

JANUARY 29, 2020

businesses are likely already feeling tax season’s pressures. Filing is exhausting and complicated for individuals, and businesses experience those tax difficulties to a far greater degree. SMBs need to remain compliant with increasingly complex financial regulations. SMBs And Manual Tax Frustrations.

Taxes 141

Taxes Fraud Tools System 141

Abrigo

AUGUST 19, 2020

Key Takeaways COVID-19-related fraud are not new typologies; they just have a new spin. Adjusting your velocity scenarios can help detect money mule scams and check fraud. . COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

Fraud 195

Fraud System Trends Software 195

Abrigo

FEBRUARY 5, 2021

You might also like this webinar: "Detecting PPP Fraud: Optimizing Your AML Solution". Takeaway 1 To prevent the kind of fraud that plagued the Paycheck Protection Program in 2020, the SBA has put new measures in place that have created challenges. PPP fraud-prevention challenges arise. New Guidance Out. That issue was resolved.

Fraud 195

Fraud Lending Taxes Regulation 195

Abrigo

AUGUST 19, 2020

Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

Fraud 195

Fraud System Trends Software 195

PYMNTS

SEPTEMBER 12, 2019

billion — 91 percent — of those penalties, while European regulators demanded $1.7 FinTechs could face these same financial pains as regulators increasingly demand that they follow the compliance rules to which FIs must adhere. A team of analysts can only handle so many potential fraud cases at a time, after all. . million. .

Fraud 189

Fraud Fintech Compliance Regulation 189

PYMNTS

JULY 15, 2020

Judges dismissed a civil suit that alleged Wirecard of fraud weeks after the company filed for insolvency in a Munich court. The judge also found that the involvement of the Mauritius’ Emerging Markets Investment Fund (EMIF) was not a reason to suspect fraud. “As Still, this is not the end of troubles for Wirecard.

Fraud 160

Fraud Taxes Groups Compliance 160

PYMNTS

JANUARY 24, 2021

Cygnet Infotech promotes FACE as a product that handles not only conventional accounting processes, but also provides specialized handling of challenges around goods and services taxes. India uses its Invoice Registration Portal to track business activity and ensure compliance with tax laws.

Taxes 178

Taxes Compliance Software Fraud 178

Chris Skinner

FEBRUARY 23, 2020

Things we’re reading today include … Barclays set to kick off hunt for next chief executive Cruel lottery as banks play blame game over push-payment fraud No global digital tax by end-2020 would mean chaos: France JPMorgan lines up ex-regulator to lead UK digital bank UniCredit CEO Mustier ruled out … The post Things worth reading: (..)

Taxes 251

Taxes Fraud Digital Banking Regulation 251

PYMNTS

NOVEMBER 4, 2019

have resulted in a delay for legislation that is now in draft form, which would include a provision to tax larger tech firms that derive sales from the region. The bill has proposed a 2 percent tax on revenues for firms as diverse as Facebook and Amazon. The moratorium would be aimed at reducing fraud , Reuters reported.

Taxes 101

Taxes Fraud Data Regional 101

PYMNTS

MARCH 3, 2020

Andrew Tyrie, chairman of the Competition and Markets Authority (CMA), a competition regulator in the U.K., said his fellow regulators have been too soft on digital mergers, and consumers have suffered as a result, according to the Financial Times. He also called for stronger abilities to go after large tech companies.

Regulation 140

Regulation Conference Taxes Marketing 140

PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. The latest AMC/KYC Tracker examines current efforts to stop money laundering, fight fraud and improve customer identity authentication in the financial services space.

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

PYMNTS

NOVEMBER 7, 2019

The Bank of England has told HSBC to improve compliance controls for non-fiscal factors like fraud and staff conduct, according to a report by Reuters. The shortcomings were pointed out by Prudential Regulation Authority regulators. billion in pre-tax profits, below analyst expectations, with revenue at $13.36

Compliance 101

Compliance Fraud Taxes Regulation 101

PYMNTS

MARCH 14, 2019

Both corporates and banks have said Know Your Customer ( KYC ) regulations are their most pressing compliance concerns, with nearly three-quarters of businesses with more than $1 billion in revenues pointing to KYC as their top challenge. ” and an overall rise in complexity of current regulations.

Fraud 115

Fraud Survey Taxes Regulation 115

PYMNTS

APRIL 18, 2016

In what might be a blow to taxpayers seeking help on the fly, the Internal Revenue Service is mulling the idea of disallowing walk-in visits by people seeking help on their taxes or those simply looking to make payments in person, WTOP reported on Friday (April 15).

Taxes 100

Taxes Payments Fraud National 100

FICO

FEBRUARY 25, 2022

Since May 2019, major UK banks have participated in a voluntary code - the Contingent Reimbursement Model (CRM), designed to provide funds back to the victims of authorised push payment fraud or APP fraud. So, what can banks do to prevent APP fraud? Look Out for APP Fraud Signals – Develop the Rules.

Fraud 52

Fraud Payments Taxes Analytics 52

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.

El Paso 195

El Paso Miami United States New York City 195

PYMNTS

AUGUST 2, 2019

Data storage firm Seagate revealed that it has moved its anti-fraud blockchain project with IBM into the pilot stage. In other news, Brazil’s Tax Authority has announced that transactions involving cryptocurrencies must now be reported to the Department of Federal Revenue ( RFB ).

blockchain 148

blockchain Fraud Data Report 148

PYMNTS

DECEMBER 12, 2017

According to news from Reuters , the government in France wanted tax authorities to investigate Airbnb’s payment system over suspicions that it was enabling the avoidance of taxes after it learned the company was allowing hosts to use a prepaid Payoneer card.

System 100

System Regulation Payments Taxes 100

Abrigo

MARCH 22, 2023

Misrepresentation is used to justify the movement of funds and, in some cases, reduce the tax obligation reflected on customs documents. Over- or under-shipment or phantom shipments: Over- or under-shipment involves misrepresenting the number of goods in a shipment. Gain confidence in your BSA program.

Training 195

Training Fraud New Jersey Regulation 195

PYMNTS

SEPTEMBER 28, 2020

They also need to collect and verify vendors’ details to comply with anti-crime regulations, adhere to tax reporting requirements and deliver convenient digital payments to these suppliers. Corporate buyers that have gathered enough information on potential business partners then need to answer to regulators.

Data 166

Data Management Taxes Meeting 166

PYMNTS

SEPTEMBER 14, 2018

British Airways will likely be the first company cased under GDPR, and a fine may loom if regulators find the company did not have adequate security measures in place. Cryptos : Cryptocurrencies take it on the chin yet again, as multi-month lows tested amid the long arm the law — or at least regulators.

Fraud 139

Fraud cryptocurrency Bitcoin America 139

PYMNTS

JANUARY 16, 2020

17, that would relieve medallion owners from tax liability for debt forgiveness. How AI Helps Marketplaces Fight Off-Platform Fraud. Fraud threats in industries such as advertising and the sharing economy are growing, and victims often blame the marketplaces and publishing sites for not better protecting them.

Apple 130

Apple New York City New York Google 130

PYMNTS

MAY 12, 2016

office were facilitating tax evasion and money laundering. According to FT , no public or private action was taken against the bank by regulators after the information was disclosed. regulators didn’t seem inclined to take any real steps toward looking into the claims about BSI’s role in tax evasion at the time.

Taxes 100

Taxes Fraud Regulation New York 100

PYMNTS

MARCH 26, 2018

Complex tax law has been linked to the rise in eInvoicing in B2B commerce, according to Julie Park, managing director of VAT and customs duty at The VAT Consultancy. She pointed to Latin America , which enacted some of the world’s first eInvoicing mandates for the purposes of tax rule enforcement. billion every year.

Taxes 102

Taxes Fraud Compliance Regulation 102

Abrigo

SEPTEMBER 1, 2021

financial institutions' improved compliance with Bank Secrecy Act and anti-money laundering regulations, such as cash reporting requirements.” . Financial institutions can expect additional scrutiny from regulators and auditors on EDD processes and high-risk customer monitoring. BSA Rules and Regulation. Going Forward.

Training 195

Training Regulation Community Austin 195

PYMNTS

FEBRUARY 27, 2019

27) recommending that the EU create a police unit dedicated to the investigation of tax and financial crimes, as well as a watchdog organization to fight money-laundering, according to a report by Reuters. Europe has a serious money-laundering and tax fraud problem,” said Danish lawmaker Jeppe Kofod, who helped draft the report.

Report 152

Report Taxes Maine Regional 152

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

JANUARY 24, 2020

Government disbursements can range from child support payments and annual tax returns to pension and retirement fund payouts. The IRS has accepted digitally filed tax documents and issued digital refunds for years, and it received approximately 29 million electronic returns via direct deposit between February 2018 and February 2019.

Payments 130

Payments US Fraud Innovation 130

Abrigo

JUNE 10, 2020

The regulators don’t care what your budget is,” Luttrell says. But inadequate staffing appears in regulatory consent orders more often than many people would expect, and regulators are not sympathetic when it comes to violations as a result of underemployment in compliance. BSA Rules and Regulation. Fraud Prevention.

Resources 195

Resources Regulation Compliance Policies 195

Abrigo

MARCH 24, 2023

Do you offer services to those without a Tax ID Number (TIN)? Do you allow customers or members to send outgoing international wires? If so, how is this monitored? How many accounts and to which countries are they sent? If so, how many customers or members?

Fraud 195

Fraud Compliance Examples Analysis 195

FICO

MAY 25, 2017

million digital records exposed the dark deeds of dirty money and tax evasion and burst the bubble of pretense that the world is effective at dealing with corruption. One in five banks in Asia Pacific say that they expect tax evasion to increase 100 to 500 percent over last year’s levels according to a recent poll by FICO.

Taxes 40

Taxes Survey Compliance Regional 40

FICO

SEPTEMBER 19, 2018

A new special report from Raconteur , published in today's edition of The Times in London, calls out the growing trend of convergence of fraud and compliance. A typical enterprise has both fraud and compliance departments. The post Special Report: Convergence of Fraud and Compliance appeared first on FICO.

Compliance 40

Compliance Fraud Report Trends 40

PYMNTS

SEPTEMBER 16, 2019

On the Continent — and Taxes in Sight. Google’s own regulatory and tax issues extend well beyond domestic markets. In other news this past week, Google agreed to pay a $548 million fine in France to settle a fiscal fraud probe that stretches back four years. In France, the project has some clear opposition.

social media 122

social media Google Taxes Arkansas 122

FICO

SEPTEMBER 6, 2018

A new special report from Raconteur , published in today's edition of The Times in London, calls out the growing trend of convergence of fraud and compliance. A typical enterprise has both fraud and compliance departments. The post Special Report: Convergence of Fraud and Compliance appeared first on FICO.

Compliance 40

Compliance Fraud Report Trends 40

PYMNTS

JUNE 16, 2020

He also recommended that the Financial Stability Oversight Council (FSOC) be charged with “the responsibility to create a framework for regulating cryptocurrencies and developing guidelines for strong protections against money laundering and cybersecurity threats to those marketplaces.”.

US 227

US Cyber Security Security National 227

PYMNTS

NOVEMBER 22, 2019

Politicians, as well as privacy advocates, have asked regulators to block the deal. Isaacson has watched remote sales tax policies unfold since that time in a flurry of new laws that differ by state, and even municipality. Moving Issuers — And Auth Rates — Past Fraud Prevention To Revenue Protection. South Dakota Decision.

South Dakota 101

South Dakota Apple Taxes Cards 101

PYMNTS

OCTOBER 22, 2018

The report excluded data on shop-at-home purchases and includes information about frauds reportedly directly to the FTC between January and September of this year. In all, losses to this emerging and increasingly occurring form of fraud reached $40 million in 2017, doubling the $20 million in losses reported 2015. Some major U.S.

Data 134

Data Fraud Cards Regulation 134