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. In the U.K.,

How To 170

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PYMNTS

JUNE 5, 2020

Providing robust services via mobile channels is especially important now, as the COVID-19 pandemic has caused businesses to operate remotely and consumers to stay at home as much as possible. The need to secure open banking has only grown as financial criminals have stepped up to exploit disruptions caused by the COVID-19 pandemic, he added.

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PYMNTS

APRIL 25, 2019

Today’s customers are more cognizant of how their personal data is handled, which makes fostering that trust all the more complex. This is especially true in areas like the European Union, where the General Data Protection Regulation ( GDPR ) is changing how customers and corporates approach data sharing.

Security 100

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Cisco

JULY 12, 2022

Regulatory requirements are a key operational concern that we hear about from our financial customers. This leads to many generations of installed technology sets with diverse hardware and software systems, all that need to be tracked and managed, secured, and audited. Operations and Operational Processes. In the U.S.

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PYMNTS

OCTOBER 17, 2019

In today’s payments news, China has allowed PayPal to operate in the country with its purchase of a majority stake in GoPay. China has allowed PayPal to operate in the country with its purchase of a majority stake in GoPay. Also, Mastercard has outlined its intentions with blockchain following its high-profile Libra Association exit.

Operations 100

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PYMNTS

SEPTEMBER 6, 2019

The sharing economy is a two-way street that operates on trust between suppliers and customers, and that trust is even more important for high-value exchanges like home shares. Regulations and Compliance. Especially when a marketplace operates in multiple markets worldwide. percent of the former and 24.3

Security 125

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PYMNTS

JULY 28, 2019

Initial coin offering (ICO) consultant CoinLaunch will pay $50,000 to settle with the Ontario Securities Commission (OSC). According to the regulator’s website , CoinLaunch was consulted on two ICOs, with both determined to be securities. As a result, CoinLaunch has agreed to pay a $50,000 fine.

Bitcoin 100

Bitcoin Security United States cryptocurrency 100

Celent Banking

MARCH 2, 2017

OCC 1 TPRM regulations alone require the bank to evaluate 16 risk dimensions when engaging with a third party. And, if the relationship involves a high or critical risk activity, the bank will carry out a much more thorough due diligence; often including an on-site visit to inspect operational risk procedures in the case of a risk event.

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PYMNTS

OCTOBER 12, 2016

The basis for blockchain technology is something that works well in practice, but not in theory,” said Luther Martin at HPE Security-Data Security. The crux of many concerns relate to regulations that are still to be determined, and it may take awhile before they are truly established.

blockchain 100

blockchain Regulation Industry Security 100

Abrigo

JULY 13, 2023

Avoid fraud losses from pig butchering scams FinCrime professionals looking to prevent pig butchering scams in the age of cryptocurrency can follow these steps to tighten security. Massive financial losses can destabilize their operations, impact profitability, and harm their reputation. billion in fraud losses in 2022.

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PYMNTS

JANUARY 15, 2019

Malaysia’s initial coin offering (ICO) regulations are said to take effect on Tuesday (January 15) per a notice from the Securities Commission (SC) in the country, Coindesk reported. He went on to say that “People believe in the dream of crypto, they just don’t know how to engage in it without getting burned.”.

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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.

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Abrigo

JANUARY 24, 2024

A second fraud management and prevention consideration for credit unions is that FedNow will operate around the clock every day of the year. For example, an ATM scheme that operated through July 2023 targeted credit unions in six states, stealing nearly $6 million. How to accept, reject, or accept without posting.

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PYMNTS

SEPTEMBER 9, 2019

Each country has its own rules and regulations dictating how businesses can make and receive payments, as well as its own, unique financial infrastructure. How can international businesses streamline their cross-border operation systems to overcome these frictions?

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PYMNTS

MARCH 29, 2019

She doesn’t know how to do this on her own, so she posts a job offer online. At least, that’s how it should work. Unfortunately, smoothly and securely connecting employers and freelancers from around the globe is no easy task. Global Security . Say a hostel owner in Spain wants to freshen up her website with new images.

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PYMNTS

APRIL 9, 2020

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. ” Travelex , whose machines are located in airports worldwide, said they began to reboot some of its operations in January and February.

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PYMNTS

JULY 16, 2020

will face a potential disruption of their operations. For example, depending on how the decision is applied, the ruling could be an expensive one. Security standards fragmentation and differences in how hospitals handle patients’ data have become more evident during the health crisis. including Facebook Inc.,

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Abrigo

NOVEMBER 17, 2023

This , of course , doesn’t include fraud losses that were not filed due to the victim's embarrassment or lack of knowledge on how to report. Additionally, the human capital investment—in terms of both hiring fraud prevention experts and training existing staff—represents a significant operational expense.

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PYMNTS

NOVEMBER 6, 2018

The standards put forth by the PCI Security Standards Council – the PCI Data Security Standards – offer a framework for ensuring data security, and they must be followed in order to avoid fines and other penalties. PCI compliance is vitally important for businesses that process credit cards. Gearing up for GDPR.

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Cisco

AUGUST 9, 2022

As these have attacks have evolved, regulatory bodies have updated their regulations to account for the increasing threat of cyber risk. This framework is especially relevant given the recent FFIEC Architecture and Operations update and the Executive Order on Cybersecurity from 2021. Delivery Channels. Organizational Characteristics.

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PYMNTS

OCTOBER 29, 2019

The EU is looking even further into possible antitrust violations regarding Apple , with regulators trying to find out if online sales companies were ordered to use the tech giant’s mobile payment service instead of rival services.

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PYMNTS

JUNE 12, 2020

The Bernie Madoff debacle is but one glaring example of how Ponzi schemes come crashing down. In Canada, the Ontario Securities Commission this week reported that Quadriga CX, a crypto-trading platform that collapsed in that country last year, was nothing more than a glorified, high-tech Ponzi scheme.

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MyBankTracker

SEPTEMBER 4, 2020

While mutual funds typically invest in securities like stocks and bonds, hedge funds tend to use far more advanced investment strategies, such as using derivatives and leverage. Because they rely on complex securities, leverage, and complicated investment strategies, hedge funds are typically classed as alternative investments.

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PYMNTS

FEBRUARY 19, 2019

According to CoinDesk , the agency, which serves under the country’s Ministry of Trade, has stipulated that crypto futures exchanges must be registered and approved before operating. The new regulations state that these futures exchanges and clearing houses need to have paid-up capital of at least 1.5 trillion Indonesian rupiahs.

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PYMNTS

OCTOBER 20, 2017

Regulations can be another killer for cross-border business, Wang said. PayPal, for example, was never able to secure a payments license in China, so the platform never even had the opportunity to localize. The market, he said, is much faster than other markets in which they may operate successfully. The Other Way Around.

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PYMNTS

AUGUST 3, 2018

Department of the Treasury report on how to encourage more FinTech, payments executives were mulling over the report, wondering if it would lead to any concrete improvements and giving their ideas to PYMNTS about how to best improve payments innovation and entrepreneurship. FinTech Improvements. Re-examining Tradeoffs.

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PYMNTS

MARCH 12, 2019

The Australian Securities and Investments Commission (ASIC) is criticizing top Australian banks for what the regulator said is an inefficient process of reviewing internal systems that allowed the banks to charge excess fees to customers. Reports said analysts believe most of those cases relate to those advisory fees.

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PYMNTS

OCTOBER 23, 2018

Open Banking regulations have gotten FinTech innovators’ brains churning over how to take advantage of the troves of data that traditional banks have typically kept locked away. With regulations like PSD2 and Open Banking emerging as ways to boost financial services competition, the bank-FinTech relationship has taken center stage.

Data 177

Data System Regulation Security 177

PYMNTS

JULY 28, 2019

Initial coin offering (ICO) consultant CoinLaunch will pay $50,000 to settle with the Ontario Securities Commission (OSC). According to the regulator’s website , CoinLaunch was consulted on two ICOs, with both determined to be securities. As a result, CoinLaunch has agreed to pay a $50,000 fine.

Bitcoin 116

Bitcoin United States cryptocurrency Security 116

PYMNTS

JANUARY 6, 2020

European countries that have not implemented PSD2 or some form of open banking have been an object of curiosity for the banking world since the regulation took effect in 2018. Turkish regulators and government officials spent less time deliberating whether they wanted to implement PSD2 and more considering how to integrate it.

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PYMNTS

OCTOBER 29, 2020

Customers expect payments to be as fast and friction-free as any other part of their digital lives, and providers are faced with the challenge of meeting this expectation while also ensuring that payments are secure and compliant with regulatory requirements. How Cloud Innovations Augment Business Payments.

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Payments Fraud Meeting Security 213

FICO

AUGUST 22, 2018

Business outages and regulations like GDPR make companies realize they’re operating in an interconnected ecosystem with their business partners, and that is changing the dynamics of risk. The post Cyber Risk Measurement: How to Measure a Moving Target appeared first on FICO.

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PYMNTS

JUNE 29, 2020

The pandemic has spurred businesses — by necessity — to use digital means to interact with their employees and to keep operations humming. Employers are trying to figure out how to pay people, and we are in an environment where we are all working from home,” she told PYMNTS.

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PYMNTS

OCTOBER 6, 2020

Keeping customers' digital payment data safe and secure is a critical part of doing business in the digital economy, and following Payment Card Industry (PCI) compliance guidelines is an effective way for firms to accomplish this. Getting Up to Speed on Compliance. This can be particularly burdensome for smaller firms.

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PYMNTS

MARCH 26, 2019

There are all kinds of technological solutions for tracking consumers and their behaviors when they are in-store — beacons and mobile Wi-Fi tracking are two of the most popular — that run afoul of the European Union’s GDPR regulation. The answer is different for every retailer — what sector are they in, how is the store laid out,” he said.

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PYMNTS

AUGUST 22, 2019

Also, the risk of introducing unnecessary friction into such transactions increases whenever new regulations are involved — rules that promise to bring significant changes to global payments in general. That includes the European Union’s revised Payments Service Directive (PSD2) and its strong customer authentication (SCA) rules. a password).

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Regulation United States Payments Cards 116

PYMNTS

OCTOBER 1, 2018

Business lending in Australia probably won’t face tougher loan regulation when it comes to small business loans. He went on to describe “the central and perhaps irreplaceable role played by guarantors in securing small business finance and the particular vulnerability of small businesses to failure.”.

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Lending Regulation National Report 135