PYMNTS

APRIL 8, 2019

Australian financial regulators are feeling pressure to ensure financial institutions treat customers properly and have turned to artificial intelligence (AI) in an attempt to improve compliance, according to a report by the Financial Times. The trend is starting to appear nationally.

Compliance 108

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PYMNTS

JUNE 16, 2020

But Kellerman and other security experts advocated at the hearing for legislative measures, such as modernizing anti-money laundering (AML) and forfeiture rules and moving the Secret Service to the Treasury Department, to help combat the threat. However, he noted that the move could negatively impact morale at DHS.

US 227

US Cyber Security Security National 227

Perficient

FEBRUARY 16, 2022

Over the last 90 days, we have let clients know about the federal banking regulators planned cryptocurrency road map , explained what steps national banks need to take to begin crypto activities , provided thoughts on the possibility of a U.S. Framework 2: Security holdings. Framework 3: Two-tiered intermediation.

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PYMNTS

JANUARY 4, 2019

That caution extends to all manner of considerations in the realm, including the issuance of a state-backed cryptocurrency, and even the regulation of the digital currencies. Study and study and tread carefully, it seems. The fact that India is still studying the issue means that cryptos of course can and will be revisited.

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South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. With 142 presentations and panels, the content was tailored to the needs of every bank interested in payments.

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PYMNTS

JANUARY 4, 2019

A New York State politician announced the creation of what he called the nation’s first cryptocurrency task force, to “study how to properly regulate, define and use” the currency, according to a Facebook post and reports. Cryptocurrency, however, is more than just an asset that stores value.

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PYMNTS

JULY 21, 2020

Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. Regulators in other regions, including Latin America, are also shaping and announcing plans to enable open banking and better support digital financial systems.

Mobile 229

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Abrigo

JULY 21, 2021

As part of the Financial Crimes Enforcement Network’s (FinCEN) first national priorities list for anti-money laundering and countering the financing of terrorism (AML/CFT) policies, one important priority continues to be detecting, reporting, and preventing terrorist financing. BSA Rules and Regulation. BSA Rules and Regulation.

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PYMNTS

OCTOBER 8, 2020

In today’s top payments news around the world, Flywire has teamed with the Brazilian Educational & Language Travel Association on payment options for students studying abroad, while EMQ has begun to let firms transfer as much as $280,000 directly into banks in Japan. Pandemic Will Push 150M Into 'Extreme Poverty' By 2021, World Bank Says.

Payments 153

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PYMNTS

OCTOBER 9, 2020

Attorney General William Barr said that while cryptocurrency could fundamentally transform how human beings interact and how we organize society, “ensuring that use of this technology is safe and does not imperil our public safety or our national security is vitally important to America and its allies.”. A Slew of Problems.

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PYMNTS

DECEMBER 11, 2020

As the new Digital Identity Tracker® states, “about 40 million bank customers in Thailand are expected to register for digital identity authentication under the country’s National Digital ID (NDID) program, which was recently expanded to more financial service providers.

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PYMNTS

FEBRUARY 24, 2020

The country’s government and regulators are keeping pace with those in the European Union and the U.S. Foreign firms and regulators tend to think of Chinese laws as either too strict, wide-reaching or lax — perceptions that have failed to keep up with local regulations’ developments. “In Confronting the Chinese Privacy Myth .

Regulation 160

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PYMNTS

SEPTEMBER 23, 2020

A recent study from PwC found that 47 percent of companies had experienced fraud at least once in the past two years, with a grand total of $42 billion in funds stolen over this period of time. Large investments in security measures are necessary for banks to protect themselves and their customers from this menace. billion ($8.9

Technology 208

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PYMNTS

FEBRUARY 15, 2018

He said that in his own state of Washington, state regulators have been looking at those issues for some time to determine the possibility of some sort of reciprocity or sharing of information. “It The pilot being run with those initial seven states will provide some answers for how state regulators can streamline the process.

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PYMNTS

JANUARY 19, 2018

Fizzle of the Week: Cryptocurrency Regulation. The saga over bitcoin and its relationship to various regulators has become something of the payments answer to a romantic comedy. I can ask my friends who study abroad or travel there myself. Easy come, easy crypt-go, it seems. It’s not that big of a problem.”.

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PYMNTS

DECEMBER 16, 2020

More than 100,000 eateries — or about one in six restaurants nationwide — have closed due to the pandemic, according to National Restaurant Association estimates. A study found that restaurant revenues declined by 9 percent year over year in October, largely due to decreased in-restaurant traffic due to social distancing regulations.

Fraud 310

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PYMNTS

OCTOBER 16, 2019

Between $800 billion and $2 trillion USD is laundered each year, according to the United Nations Office on Drugs and Crime. And yet, per that same study, 30 percent rate at least one of their AML components as being either “not at all” or only “somewhat” effective. Challenges and Solutions.

Compliance 123

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PYMNTS

SEPTEMBER 24, 2020

These types of payment flows made up 5 percent or more of the gross domestic product (GDP) for 66 countries in 2019, reaching as high as 20 percent of GDP in nations like Haiti and Nepal. . Maintaining compliance with these important regulations can be challenging, but FIs cannot afford to slip up. The Cost of Compliance .

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Abrigo

DECEMBER 10, 2019

ABA study shows banks are reporting more cases of EFE. According to the National Council on Aging (NCOA) this heartless crime is most likely under-reported due to the victims’ fear, shame and embarrassment. What the ABA study determined is that financial institutions of all sizes continue to focus on elder fraud prevention.

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PYMNTS

OCTOBER 19, 2020

Banks are typically required to establish direct links with financial institutions (FIs) in other nations to make or receive cross-border payments. A recent survey found that one-third of businesses were worried about cross-border payments fraud, while 26 percent expressed data security concerns.

Technology 193

Technology Payments Security Survey 193

Abrigo

NOVEMBER 2, 2021

On January 1, 2021, the Senate voted into law the National Defense Authorization Act (NDAA). The AMLA is extensive, and there are many steps involved before FinCEN can implement the act, such as conducting studies, writing regulations, and publishing guidance. With the 2021 change in administration in Washington, D.C.,

Compliance 195

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PYMNTS

JULY 23, 2020

Regulators in Mexico passed a law governing FinTechs in March 2018, just two months after PSD2 went into effect in the European Union, and others in the region have since followed suit. This steady march toward online banking tools has played a key role in how Brazil’s regulators are structuring its open banking rules.

America 165

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PYMNTS

FEBRUARY 28, 2019

They must also excel at securely handling payments and personal data, while recommending services at the right moment to enhance transactions along the way. Airbnb on Payments, User Friction and Security Challenges in a Global Market. To read the Case Study, download the Playbook. About the Playbook.

Payments 183

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PYMNTS

OCTOBER 18, 2018

Most people know that China is the world-leading supplier of students studying abroad. However, while China is undeniably the largest market for students studying abroad, India is coming up quickly for second place. As of 2017, a little more than 600,000 Chinese students left the country to pursue their education overseas.

Payments 153

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CFPB Monitor

JULY 6, 2021

The Priorities have been much-anticipated because, under the AML Act, regulators will review and examine financial institutions in part according to how their AML/CFT compliance programs incorporate and further the Priorities, “as appropriate.”. Given the already-existing breadth of the eight Priorities, that goal looks challenging.

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PYMNTS

JUNE 19, 2018

The time for “wait and see” is running out when it comes to new European privacy regulations. Soon enough, the financial and consumer impacts of the General Data Protection Regulation (GDPR) will become clear enough that companies that took a laggard’s approach may start to feel significant pain.

Regulation 101

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Abrigo

JUNE 13, 2022

According to the National Council on Aging (NCOA), this heartless crime is most likely under-reported due to victims' embarrassment. billion annually. A recent American Bankers Association Foundation (ABA) research study found that older Americans hold 65% of the deposited wealth in the United States. BSA Rules and Regulation.

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PYMNTS

SEPTEMBER 10, 2018

Bloomberg reported that regulators – if they determine that the company should have had measures in place that could have prevented the breach – may levy fines. New cybersecurity regulations may do more harm than benefit for the society if improperly imposed or implemented,” he said. Credit Unions Eyeing Data Security, Too.

Data 116

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FluentBanking

APRIL 18, 2020

It is important to know thoroughly about the syllabus and regulations of any course before enrolling in that. The examinees will also be asked to answer case study based/practice oriented questions. Question setting pattern The question setting patterns will be both narrative as well as practice oriented based on case studies.

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PYMNTS

JUNE 4, 2020

There was already disparity in how patients were receiving funds from providers and the methods they wanted to use, with one pre-outbreak Ingo Money study noting that less than 10 percent of U.S. The COVID-19 pandemic has meant months of nonstop work for doctors, nurses, other medical professionals, regulators and insurers.

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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.

Data 91

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PYMNTS

OCTOBER 18, 2019

The FATF echoes the sentiment of regulators around the world who want to stop the release of Libra , especially without more regulatory questions being answered. “If 17), the G7 nations said Libra shouldn’t be launched until all of its potential risks are fully explored and addressed. On Thursday (Oct.

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Abrigo

DECEMBER 18, 2023

Banks and thrifts hold half of all outstanding CRE debt through the second quarter, with insurance companies accounting for 12% and commercial mortgage-backed securities holding 14%, according to Trepp. Use portfolio risk management tools, which make it easier to continue supporting local and national economies prudently.

Risk Management 221

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PYMNTS

OCTOBER 22, 2020

Fifty-one percent of SMBs in a recent study reported that they had persuaded business customers to switch over to digital payments, for example. This could lead to more buyers to start using B2B eCommerce sites to secure items, and these marketplaces are expected to facilitate $3.6 Clients are not the only ones causing slow payments.

Report 159

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PYMNTS

OCTOBER 13, 2017

Foreign property buyers appear to have gotten that message, if research from the National Association of Realtors (NAR) is any indication. The nation, notably the areas of Toronto and Vancouver, is seeing a high influx of buyers purchasing properties due to the region’s low interest rates. Global Real Estate Bargain Shopping.

California 171

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CFPB Monitor

MAY 12, 2021

The Fed’s final rule implementing the Durbin Amendment (Regulation II) went into effect in October 2011. Regulation II capped the interchange fee received by large issuers (with $10 billion or more in assets) to 21 cents plus 0.05% of the transaction. Proposed Amendment to Regulation II.

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PYMNTS

SEPTEMBER 8, 2017

The company secured 8.6 percent of the nation’s express delivery market in the first six months of 2017, reports said. Analysts say the trend is the result of tightened regulations at home, especially those impacting alternative lending startups. “An The IPO could see the company valued at up to $5.7

United States 100

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