Remove 2008 Remove Regulation Remove Taxes
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Libra Forces Cryptocurrency Regulators To Reexamine Procedures

PYMNTS

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. Between 2008 and 2018, approximately $26 billion worth of fines were levied against banks for AML, KYC and sanctions noncompliance. The Cost of Compliance. imposed a full $23.52

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Global cash flow analysis – common mistakes & helpful hints

Abrigo

Not analyzing (or requesting) all of the necessary tax forms Tax returns and their supporting schedules are vital to performing a GCF analysis correctly. This may involve integrating multiple partnership and corporate tax returns, business financial statements, K-1 forms, and individual tax filings.

Analysis 195
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CFPB Settles Student Loan Case With Discover For $35 Million

PYMNTS

The case stems from an earlier order from CFPB based on finding that Discover had been misstating the minimum amounts due on billing statements along with tax info customers needed to help get federal income tax benefits. That figure is close to banks’ losses from the 2008 sub-prime mortgage crisis.

Taxes 285
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Deep Dive: How FinTechs, FIs Can Arm Up Against Fraud

PYMNTS

Compliance failures are prevalent worldwide: Approximately $26 billion worth of fines were levied against banks for AML, KYC and sanctions noncompliance between 2008 and 2018. billion — 91 percent — of those penalties, while European regulators demanded $1.7 A report found that the U.S. imposed a full $23.52 million. .

Fraud 189
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London’s Dirty Little (Money Laundering) Secret

PYMNTS

office were facilitating tax evasion and money laundering. office in London, revealed that back in 2008 secretive techniques and services were being offered to clients that would allow them to conceal assets. According to FT , no public or private action was taken against the bank by regulators after the information was disclosed.

Taxes 100
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Ascension Leak Exposes 24M+ Loan, Mortgage Details

PYMNTS

A server running an Elasticsearch database contained sensitive data from as far back as 2008 that included loan and mortgage agreements, repayment schedules and other financial and tax documents. He added the company will notify all affected customers, as well as report the incident to state regulators. “On

Taxes 155
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BIS Warns About Corporate Borrowing

PYMNTS

In fact, BIS said the boost in borrowing in recent years by businesses with low credit scores could cause a crisis like the one that led to the 2008 banking crash. Fiscal policies can be refashioned to be growth friendly,” he told the publication.

Taxes 128