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Celebrating FinCrime Fighter Day: Honoring the heroes of financial security

Abrigo

Deloitte expects synthetic identity fraud to generate losses of at least $23 billion by 2030. Our intelligent fraud detection software and risk management tools help fraud professionals in their fight against financial crime. financial institutions manage risk and drive growth in a rapidly changing world.

Security 221
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Saudi Arabia’s Open Banking Plan Aims To Advance Digital Innovation

PYMNTS

It enables the secure sharing of financial and other data to enable seamless digital payments and money transfers. . Aside from providing banking customers in the Kingdom with a way to securely manage and share financial data, open banking will also give people access to custom products and services.

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The Scary Success Rate Of Corporate Cyberattacks

PYMNTS

But cyberattacks cost these firms $2 trillion in damages, with researchers forecasting that figure to spike up to $90 trillion by 2030 if businesses don’t change the way they protect corporate data. The vast majority of breaches are reported by employees outside the firm’s security team, researchers added.

Survey 196
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Practical AI Use for Community Banks

Jeff For Banks

For Security Bank & Trust, Copilot aligns perfectly with our strengths. Branch Insights: Managers can use Copilot in Power BI to track performance across our 21 locations, like spotting a deposit surge in Scott County for a targeted campaign. Impact: AI automation could save banks $1 trillion by 2030 (McKinsey, 2024).

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Former Restaurant Execs Seek $230M For SPAC

PYMNTS

The New York-based corporation, composed of eight experienced restaurant owners, is seeking to raise up to $230 million for a blank-check company, according to a filing with the Securities and Exchange Commission (SEC). Greg Golkin, managing partner at Kitchen Fund, is named as president. Chang’s China Bistro Inc.,

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What is elder financial exploitation? FinCEN guidance for financial institutions

Abrigo

The statement provided examples of risk management and other practices that may be effective in combatting this often-underreported crime. By 2030 , 20% of the U.S. Common tactics include pretending to be from the IRS or Social Security Administration and threatening the victim with fines or legal action unless they pay immediately.

Fraud 195
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Cross-Border Payment Efforts Look To The Blockchain And Beyond

PYMNTS

Separately, in other company news, Canadian FinTech Buckzy Payments announced its launch earlier this week, eyeing international payments through what it has termed a “safe, secure and convenient ecosystem.”. Bill.com noted it has three million customers in place and manages $60 billion annually in payments volume. Canada and Asia.