PYMNTS

SEPTEMBER 10, 2019

Businesses that fail to comply with anti-money laundering (AML) and know your customer (KYC) regulations risk major regulator fines and irreparable damage to customer relationships when something goes wrong. The September AML/KYC Tracker examines the latest fraud challenges and efforts to ensure tight security and compliance. .

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Security Fintech Fraud Compliance 185

PYMNTS

OCTOBER 29, 2018

As a result of the passage and adoption of open banking regulations, like PSD2 in Europe, banks and other financial firms are sharing data more freely than ever before. Adapting To Open Banking . New open banking tools mean new types of financial transactions, which could make fighting digital fraud even more difficult for banks.

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Security Fraud Tools Data 192

Independent Banker

OCTOBER 1, 2022

But as the prevalence of security breaches grows, so do the opportunities for community banks to position themselves as guardians of their customers’ personal data through compliance, technology and relationship building. Data privacy and security is a hot topic and is only getting hotter. By Katie Kuehner-Hebert. Bob Hickok.

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PYMNTS

JANUARY 7, 2019

In Ireland, reported CryptoGlobe , the Irish cabinet has approved legislation that will bring more regulation to the sector. Separately, in India, the action toward crypto regulation seems to be … inaction. The site noted that the new rules still await passage by the country’s legislative body. In the U.S.,

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PYMNTS

JUNE 5, 2020

Partnering with FinTechs that have lax security creates very real issues: Criminals could abuse open banking-powered payment apps to launder money, for example, or take over accounts and steal victims’ funds. How To Quickly Fight KYC Fraud. The federal entity is charged with monitoring the U.S.

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Security Fintech Data Fraud 174

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.

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Security Data Regulation Mobile 100

PYMNTS

OCTOBER 7, 2019

Merchants in the European Union (EU) are still wondering exactly what changes the regulation will bring when it comes to their relationships with customers. Regulators in many EU countries have their own thoughts on SCA and how long it will take merchants to prepare. Around the PSD2 and GDPR world. About the Tracker.

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Regulation Trends Compliance National 134

PYMNTS

FEBRUARY 4, 2019

A series of regulations was established to encourage a safer, more transparent financial services environment following the 2008 financial crisis. Failure to meet AML/KYC requirement challenges can be costly for FIs, too, with regulators issuing heavy fines for lax security practices or failure to devote sufficient resources to oversight.

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How To Regulation Compliance Meeting 161

PYMNTS

FEBRUARY 14, 2020

To get a sense of just how fragmented the process remains across digital ID creation, consider the fact that the interview came just a few days after Kenya’s highest court temporarily suspended the country’s new, and national, biometric identity program. Cohen told Webster the U.N.’s s policy represents “the right goal to set.

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PYMNTS

SEPTEMBER 25, 2019

And it may be the case that in the tradeoff between convenience and security, companies would do well to start looking harder into whether identity verification efforts need to be stepped up a bit, even if that means injecting friction into the equation. But raising the bar higher for fraudsters can be an effective line of defense.

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How To Security Fraud Mobile 189

PYMNTS

FEBRUARY 20, 2019

Google admitted that it didn’t tell users about a built-in microphone in its Nest Secure home security system, according to a report from Reuters. Nest Secure, a user-friendly home security system, costs around $400. In January, a hacker compromised a Nest security cam using passwords found from a third-party breach.

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Google System Security Video 115

Insights on Business

FEBRUARY 13, 2019

Gary Meshell, WW Leader Financial Services, IBM Security, opened his IBM Think 2019 talk, How Financial Services Companies Should Respond to Cyber Security Attacks with a bold assertion and truism. IBM and TD Bank jointly developed cyber security incident response solution for the financial services industry.

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Cyber Security Security Exercises social media 137

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. About The AML/KYC Tracker.

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PYMNTS

MARCH 8, 2018

Ripple’s CEO would like regulators and the cryptocurrency industry to learn how to get along. “It’s incredibly important that the entire industry recognizes that we have to work with the regulators, we have to work with the system,” CEO Brad Garlinghouse said in an interview on CNBC.

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Regulation Bitcoin cryptocurrency System 111

Insights on Business

AUGUST 27, 2018

Moreover, most cloud solutions under consideration would have also fallen short with regulators. Facing this extraordinary challenge, we coalesced around the premise that a secure, integrated hybrid platform can indeed allow the bank to improve customer interfaces, keep up with cutting edge technology and provide future scalability.

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How To Security Compliance Industry 132

PYMNTS

NOVEMBER 7, 2016

Last week, the Fed’s Secure Payments Task Force called for comment from industry stakeholders about what challenges they face when it comes to payments security. “The Secure Payments Task Force is particularly interested in understanding any barriers that may exist to implementing the planned solutions.”

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Security Payments Survey Innovation 193

Jack Henry

FEBRUARY 26, 2020

This post was co-written by Karen Crumbley, Gladiator®, ProfitStars, and Keith Haskett, Rebyc Security. Karen has been providing Educational Risk Mitigation online training courses and encouraging community bankers to engage in conversations with their peer banks and vendors about how best to mitigate risks within their own institutions.

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How To Fraud Training Security 138

PYMNTS

SEPTEMBER 6, 2019

Regulations and Compliance. Enabling seamless booking and payments experiences, while also keeping transactions and user data secure, isn’t solely about consumer trust. It’s also becoming more challenging as more governments pass regulations like GDPR that call for greater data transparency for consumers.

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Security Data Online Regulation 125

Cisco

JULY 12, 2022

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. A number of our financial institution customers are regulated by multiple, and different, regulatory bodies. Streamlining the IT audit process. In the U.S.

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Regulation FDIC System Software 71

Celent Banking

MARCH 2, 2017

OCC 1 TPRM regulations alone require the bank to evaluate 16 risk dimensions when engaging with a third party. My recent two research reports discuss the changing and expanding landscape for TPRM and explain why banks, regulators and third parties need to commit to their significant other in the management and responsibility of risk.

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How To Risk Management Management Regulation 100

The Banker

JUNE 16, 2020

Growth in digital money has posed a headache for regulators trying to protect investors, but perhaps the question of how to regulate cryptocurrencies is based on a false premise.

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cryptocurrency Regulation Security How To 28

PYMNTS

NOVEMBER 6, 2019

Facebook said it is going to enhance encryption capabilities on its Messenger communication platform, despite requests from lawmakers and regulators not to do so because of the potential result that pedophiles and criminals will be harder to track.

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Regulation Conference Data Report 113

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.

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blockchain Regulation Industry Security 100

PYMNTS

MARCH 3, 2017

Overview: Join Hannah Preston, Solution Strategist, Payment Security Division, CA Technologies and Karen Webster, CEO, Market Platform Dynamics, on Thursday, March 30th, at 1:00 PM (EST), to learn how authentication is evolving; how it could transform your security and user experience; and how you can tackle the choices and consequences.

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Security CA Customer Experience User Experience 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. Would you like other articles like this in your inbox? Takeaway 1 Investment fraud schemes known as pig butchering scams contributed to $3.3

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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.

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Bitcoin Security United States cryptocurrency 100

Jeff For Banks

OCTOBER 3, 2015

Glenn Moyer, the former Secretary of the Pennsylvania Department of Banking and Securities (pictured), spoke at a banking industry event this past week. His subject: How to love your regulator. Regulator relations is a pressure point in our industry. Never ask your regulator “What would you like me to do?

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Pennsylvania Regulation How To Management 60

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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Bitcoin Regulation New York Video 108

Abrigo

JANUARY 3, 2024

Treasury’s Financial Crimes Enforcement Network (FinCEN) recently issued a new regulation on the requirements, including how AML staff will access the information through a new federal beneficial ownership information (BOI) registry. This is in line with the current CDD regulations. Effective Jan. More is expected on this later.

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Fraud Regulation Report Compliance 222

PYMNTS

MAY 9, 2016

To find out what, exactly, is motivating the industry to self-regulate, PYMNTS spoke with OnDeck Vice President of External Affairs and Associate General Counsel Daniel Gorfine. Is the alternative lending space concerned about incoming regulation? Is the alternative lending space concerned about incoming regulation? “No,

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Perficient

SEPTEMBER 11, 2023

Already reviewed by Perficient, BES provides a secure and efficient portal to exchange documents, information, and communications for consumer compliance and Community Reinvestment Act (CRA) examinations. By the time people started speaking of Y2K , regulators were accepting documents from the bank prior to starting the onsite examination.

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Compliance FDIC Tools Leadership 221

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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Security Video Fraud Tools 101

PYMNTS

FEBRUARY 15, 2017

Aiming to beef up security in connected and driverless cars , a group of lawmakers have introduced a bipartisan bill in the House of Representatives that would put the National Highway Traffic Safety Administration (NHTSA) in charge of studying security issues for cars and trucks that are connected and eventually driverless.

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Study Security CA National 120

Abrigo

OCTOBER 16, 2023

While c red it unions may seem worlds apart from large global banks, the principles of financial integrity, trust, and security a re paramount to the success of banks and credit unions alike. A gap institution is a financial institution that does not have a federal functioning regulator, such as a state-chartered credit union.

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Training Compliance Fraud Policies 222

PYMNTS

JANUARY 25, 2019

That said, the fact that PSD2 is effectively changing how merchants transact doesn’t mean the merchants in question understand what those changes mean. The Tracker also looks into how PSD2 could potentially serve as guidance for other countries that may be reevaluating their own rules on data privacy and payments. About The Tracker.

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Operations Regulation Data Trends 195

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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Regulation Regional Data United States 188

CFPB Monitor

OCTOBER 28, 2019

Final regulations adopted by the New York Department of Financial Services (NYDFS) to implement the state’s new student loan servicing law became effective on October 16, 2019 upon the publication by the NYDFS of a Notice of Adoption in the State Register. The new law , known as Article 14-A, was enacted on April 1, 2019.

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