Abrigo

MAY 19, 2023

Introduction How regulators define successful loan reviews Mark Twain observed, “A thing long expected takes the form of the unexpected when at last it comes.” So, let’s get a sense of what regulators specifically expect loan review to do, and let’s start with loan review systems.

System 195

System Regulation How To Lending 195

Abrigo

OCTOBER 16, 2023

Takeaway 2 Participation in BaaS models, staffing changes, poor training, and failure to reassess policies post-pandemic are risk factors for credit unions Takeaway 3 Compliance officers should always be thinking about how BSA, AML, and fraud concerns impact their credit union and , ultimately , their members. FinCEN assessed a $1.5

Training 221

Training Compliance Fraud Policies 221

Abrigo

DECEMBER 19, 2022

Checklists, guides, and more to help you and your AML-CFT staff Thousands of FinCrime professionals have accessed these guides, checklists, and other resources produced in 2022 by Abrigo's team, which includes former bankers, BSA officers, and regulators. . Training materials for anti-money laundering & fraud professionals.

Resources 195

Resources Training Fraud Compliance 195

Abrigo

OCTOBER 16, 2023

Takeaway 2 Participation in BaaS models, staffing changes, poor training, and failure to reassess policies post-pandemic are risk factors for credit unions Takeaway 3 Compliance officers should always be thinking about how BSA, AML, and fraud concerns impact their credit union and , ultimately , their members. FinCEN assessed a $1.5

Training 195

Training Compliance Fraud Policies 195

CFPB Monitor

NOVEMBER 9, 2022

On November 9, 2022, New York Department of Financial Services (NYDFS) Superintendent Adrienne Harris announced that the NYDFS formally proposed an updated cybersecurity regulation. The proposed regulations would create three different tiers of companies based on their size, operations, and nature of their businesses.

Regulation 78

Regulation Compliance New York Training 78

Abrigo

AUGUST 7, 2023

Making plans in case of shortages and being proactive by cross-training employees can help. Procedures should be detailed so that any staff member would be able to completely understand and be able to undertake any task with minimal training. Takeaway 2 A staffing needs assessment helps guide decision-making.

Training 195

Training Fraud Leadership Resources 195

SWBC's LenderHub

MARCH 7, 2022

Are you 100% sure that your employees have the necessary compliance and regulatory training in order to mitigate the risk of fines and to protect your financial institution and its borrowers?

Regulation 158

Regulation Training Compliance 158

Abrigo

FEBRUARY 16, 2024

Takeaway 3 Credit analysts need training to understand the working capital cycle, look for hidden risks, and be aware of accounting changes. Kirby also recommends identifying the concentrations in your loan portfolio so regulators can see that you are planning for the future of whatever industries your financial institution specializes in.

Training 195

Training Risk Management Analysis Policies 195

PYMNTS

OCTOBER 26, 2018

The trouble with a fast-moving train, however, is that jumping on and holding on can be tricky – and consumers and businesses can sometime struggle to be fully aware and caught up on those advances. consumers who report being well-versed in the new open banking regulations. . trillion: Value of Visa’s Q4 total payments volume.

Training 135

Training Data Payments Online 135

Chris Skinner

OCTOBER 13, 2016

It was a fun meeting and covered the in’s and out’s of closed versus open APIs, the implications of allowing Trusted Third Parties (TTPs) access to the bank’s … The post APIs is all about trains, ships and standards appeared first on Chris Skinner's blog.

Training 150

Training Meeting Payments Technology 150

Abrigo

DECEMBER 28, 2022

Takeaway 2 BSA pillars and board training are some topics found in Abrigo's top blogs for FinCrime professionals. Abrigo's most popular financial crime blogs over the last 12 months cover topics that continue to catch the attention of professionals and regulators. Like staff, board members need annual, customized training.

Fraud 195

Fraud Training Compliance Regulation 195

Abrigo

FEBRUARY 9, 2024

Training and awareness: Provide education and training programs for mortgage lenders and other front-line staff to raise awareness about money laundering risks, red flags, and reporting obligations.

Training 195

Training Fraud Trends Report 195

Abrigo

JANUARY 17, 2024

The issue is more prevalent than most of us realize, despite it making headlines this year.  Banks can help identify and combat financial crimes by recognizing financial warning signs and training front-line staff on human trafficking red flags.

Training 259

Training Community Software Texas 259

PYMNTS

SEPTEMBER 20, 2019

Google CEO Sundar Pichai said politicians should take a measured approach when thinking about regulating artificial intelligence (AI), and that many of the rules already in place would work for legislating the new technology. Pichai said he wants to have a “partnership between government and businesses.”.

Google 122

Google Regulation Training Innovation 122

PYMNTS

OCTOBER 9, 2017

Along the way, training employees to work with new systems is not always easy — especially if they have to learn multiple new systems in a short span of time as their employer overhauls the organization’s functions and roles. Training People and AI to Work Together. First, it must be personalized. What is this specific employee’s role?

Training 126

Training Fraud System Software 126

Abrigo

FEBRUARY 8, 2022

Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. Stay up to date on regulations affecting NBFIs and other BSA trends. Below are 10 things NBFIs should do to ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators.

Compliance 195

Compliance Training Regulation Fraud 195

Abrigo

JANUARY 11, 2023

Banks can help by supporting organizations like Love Never Fails , which house human trafficking survivors and provide training that will assist them in obtaining sustainable careers in industries such as tech, health care, and finance. AML Training. BSA Rules and Regulation. AML Training. BSA Rules and Regulation.

Training 195

Training Software Tampa Regulation 195

Perficient

MARCH 30, 2023

However, due to their sensitive and regulated natures, some industries – especially the financial services industry – have had more complicated cloud transformation journeys than others. Cloud computing makes data more accessible, cheaper, and scalable.

Training 492

Training Security Data Regional 492

Abrigo

JULY 21, 2022

Takeaway 2 On top of mandatory BSA/AML training, staff can benefit from learning how to ask difficult questions regarding customer or member activity. Why training front-line staff supports CDD. All front-line employees are required to take annual BSA/AML training. BSA Rules and Regulation. BSA Training.

Compliance 195

Compliance Training Fraud Examples 195

Abrigo

JULY 13, 2023

Conduct regular employee training : Financial institutions should educate their employees about the risks associated with pig butchering scams and other fraud schemes. Establishing baseline customer behavior patterns and promptly investigating deviations can help detect and prevent fraudulent activities.

Fraud 195

Fraud cryptocurrency Training social media 195

Abrigo

FEBRUARY 9, 2023

As OFAC penalties have demonstrated, PEP list scanning cannot be 100% failproof, but regulators still expect banks’ best efforts. Without the CIA PEP list, financial institutions must determine which PEP lists to scan their customer base against.

Fraud 195

Fraud Training Software Compliance 195

Abrigo

DECEMBER 10, 2021

The manual is used by examiners as a training tool and guide when performing bank examinations. This update clarifies that banking regulators and FinCEN understand that no specific customer type automatically falls into a higher risk category. Remember, regulators use this instruction manual when they conduct an examination.

Training 195

Training Regulation Policies ATM 195

Abrigo

JUNE 27, 2023

Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases. Institutions should stay current on any regulatory changes, including GTO updates, and train staff to recognize red flags.

El Paso 195

El Paso Miami United States New York City 195

Abrigo

MAY 1, 2023

I can’t forget about scheduling the annual training. If you have knowledgeable staff, train them to take over some tasks such as quality control of alerts, training new employees and branch staff, or pieces of your risk assessment. We can help you navigate changing AML/CFT and fraud regulations.

Strategy 195

Strategy Training Fraud Software 195

Perficient

MARCH 15, 2022

These evaluations are based upon on-site examinations performed by OCC-trained staff that are conducted every other year, and they assess an institution’s performance in helping to meet the specific credit needs of the communities they serve. This review process can take weeks for small banks and sometimes months for larger banks.

Training 294

Training Community Compliance Meeting 294

Abrigo

JUNE 14, 2021

Takeaway 2 Financial institutions must train front-line staff to identify behavioral red flags that could indicate elder financial abuse. Training The training program should be provided to all appropriate employees and personnel on a periodic basis, at a minimum annually. BSA Rules and Regulation. BSA Training.

Compliance 370

Compliance Training Resources Policies 370

Abrigo

JULY 16, 2021

Takeaway 2 Regulations haven't been written, but there are steps community financial institutions can take now to prepare. While these are general today, the AMLA requires that regulations be written around each Priority, as appropriate. Until regulations have been released and go into effect, regulatory expectations remain unclear.

Community 195

Community Regulation Training Policies 195

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. BSA Training.

Training 195

Training Regulation Community Austin 195

PYMNTS

FEBRUARY 20, 2018

It doesn’t look like global banking regulators will be rushing to change their rules for FinTechs anytime soon. Regulators, however, have been hesitant to offer any heavy regulation on the industry. Regulators, however, have been hesitant to offer any heavy regulation on the industry.

Regulation 101

Regulation Fintech Training Innovation 101

Abrigo

JULY 21, 2021

If you are a member of a professional association or group, regularly check in on available webinars and online training. While there are certificates and training that can be purchased on countering terrorism, many also offer free or low-cost sessions that you can tune into on your own. BSA Rules and Regulation. BSA Training.

Training 195

Training National Strategy Regulation 195

Abrigo

APRIL 25, 2023

Develop and train customer-facing employees to handle ending banking relationships Work with department leadership to coordinate training efforts for exiting relationships. Training should address how to handle potentially unhappy customers or members. People will likely have questions about the institution’s decision to exit.

Strategy 195

Strategy Training Leadership Fraud 195

Abrigo

JUNE 2, 2021

Want more BSA training and articles emailed to you? The guidance emphasizes a risk-focused approach to examinations and refocuses the regulators to scope each exam according to the unique financial institution, not to use a one-size-fits-all approach. Have all employees received BSA training within the past 12 months?

How To 195

How To Training Compliance Policies 195

PYMNTS

MAY 21, 2018

The regulatory gaze become more fully trained on social media as in Germany, intelligence official Hans Georg Maassen said last week that regulation may be needed for social media companies if the European Union finds that more transparency is needed. Also, in the U.K.,

social media 108

social media Regulation New York Data 108

Abrigo

FEBRUARY 10, 2023

Introduction Corporate Transparency Act guidance FinCrime professionals have been on high alert for new regulations since the Anti-Money Laundering Act of 2020 (AMLA) was signed into law, but updates have been slow to arrive. It proposes regulations for disclosing BOI to specific groups, including financial institutions.

Fraud 195

Fraud Training Regulation Compliance 195

Abrigo

SEPTEMBER 20, 2023

Navigate your BSA exam with tips from this on-demand webinar.

Software 195

Software Fraud Training Regulation 195

Abrigo

JANUARY 8, 2016

In addition to the challenges tied to staffing, training and time allocation, however, government auditors also described industry participants’ concerns about potential “trickle-down effects” on smaller institutions as a result of current or future regulations aimed at larger banking institutions.

Regulation 150

Regulation FDIC Survey Community Bank 150

Abrigo

APRIL 27, 2020

The post Banking Regulators Release April 2020 BSA/AML Examination Manual Updates appeared first on Abrigo. Artificial Intelligence in BSA. Learn More. Artificial Intelligence. BSA Software. AI, Machine Learning, and Your BSA/AML Program. Learn More.

Regulation 195

Regulation Compliance Software Analytics 195