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Tel Aviv Fuels Israel’s ‘Startup Nation’ Reputation

PYMNTS

Israel has a well-known reputation of being a global cybersecurity hub — increasing talent flow from military intelligence, exposure to severe security threats and a burgeoning startup scene all combine to make the country a cybersecurity power player. law firm, the Israeli FinTech industry has skyrocketed since 2009.

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FinCEN AML/CTF Priorities Part 6: Transnational Organized Crime (TOC)

Abrigo

When the Financial Crimes Enforcement Network (FinCEN)’s released its inaugural national priorities list for policy related to anti-money laundering and countering the financing of terrorism (AML/CFT), one of the eight priorities included on the list was transnational organized crime (TOC). trillion in 2009 or 3.6%

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Catching Criminals Difficult Due To Spread Of Government Cyber Tools

PYMNTS

Symantec Security, a leading security research firm, raised this concern in a recent blog post. Called Trojan.Bachosens , the malicious software was predominantly used by nation-state actors, which confused researchers working on the case. Surprisingly, the hacker flew under the watchful radar of security analysts for years.

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Deep Dive: An Automated Approach To The $2T Global Money Laundering Problem

PYMNTS

Approximately 2 percent to 5 percent of the world’s gross domestic product (GDP) – $800 billion to $2 trillion – is laundered each year, according to a report from the United Nations Office on Drugs and Crime (UNODC). Rethinking Security Strategies . Financial and Ethical Security Strategies.

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AIG Predicts Cyber Insurance From Firms In Greater China Will Skyrocket

PYMNTS

The executive, using statistics from Hong Kong Police, told Reuters that the number of cybersecurity incident reports have jumped to 6,000 in 2016 from 1,500 back in 2009. Interpol had estimated at the time that more than 100,000 organizations across 150 nations had been hit by the cyberattack. billion in the same time period.

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Why US Credit Card Fraud Complaints Are On The Rise

PYMNTS

The number of complaints reported in 2015 were the highest since before the 2009 recession, and ValuePenguin estimated that recent advancements in credit card security will do little to combat this. The state led the nation for the most per capita credit card fraud complaints for the second year in a row, with 7,999 complaints in 2015.

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Community Bank History: Peoples National Bank, Hallstead, Pennsylvania

Jeff For Banks

Community banks tout themselves as better than national and regional banks because of how close they are to their communities. A case in point: the First National Bank of Hallstead… now Peoples National Bank (see photo). The bank closed during the national bank holiday that was ordered by President Roosevelt in 1933.