Abrigo

NOVEMBER 17, 2023

Measuring the cost of fraud losses. The true cost of fraud goes beyond the initial reported fraud losses Would you like other articles like this in your inbox? Takeaway 1 Fraud scams made worse by the pandemic continue to be successful, while crypto-scams are emerging. That equates to $35 billion annually.

Fraud 195

Fraud Training Trends Compliance 195

Abrigo

FEBRUARY 8, 2022

What NBFIs Should Know About Their AML Programs NBFI AML compliance requirements are top of mind in today's regulatory environment. Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. NBFIs’ AML compliance requirements. DOWNLOAD . Competing with Banks.

Compliance 195

Compliance Training Regulation Fraud 195

Abrigo

JULY 13, 2023

Avoid fraud losses from pig butchering scams FinCrime professionals looking to prevent pig butchering scams in the age of cryptocurrency can follow these steps to tighten security. Takeaway 1 Investment fraud schemes known as pig butchering scams contributed to $3.3 billion in fraud losses in 2022. billion in 2021.

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Fraud cryptocurrency Training social media 195

Abrigo

SEPTEMBER 7, 2023

Court case: Credit union held liable for ACH fraud losses A construction company argued the financial institution "failed to establish a reasonable routine" for monitoring suspicious activity alerts tied to ACH. Takeaway 3 Remember that ACH fraud risk also occurs in the placement stage of a fraudulent or money laundering scheme.

Fraud 221

Fraud Training System Trends 221

Abrigo

SEPTEMBER 20, 2023

How financial institutions can prevent losses from 1st-party fraud Learn strong approaches to identifying, preventing, and detecting 1st-party fraud that will keep your AML program on top of fraud trends. Join Abrigo for a webinar discussing risk assessments' role in compliance.

Fraud 195

Fraud Trends Cards Software 195

Abrigo

NOVEMBER 1, 2021

Combating Cyber-Enabled Fraud Requires Communication Increases in cybercrime or cyber-enabled fraud deserve attention from financial institutions, as Abrigo expert Terri Luttrell explains in this video. . You might also like this whitepaper, "The 2021 BSA/AML and Fraud Staff Survey: Top Issues for FinCrime Fighters".

Fraud 195

Fraud Video Training Compliance 195

Abrigo

SEPTEMBER 21, 2023

Internet bank fraud is here to stay; learn how to detect and stop it. Every type of fraud has something unique it leverages to dupe unsuspecting citizens. Learn what is different about internet bank fraud. Takeaway 1 It is important to monitor fraud effectively and consistently. What does this all mean?

Fraud 195

Fraud Software Mobile Online 195

Abrigo

NOVEMBER 2, 2021

Culture of compliance is crucial to BSA/AML programs Culture of compliance within the BSA/AML framework is not new and was first introduced by FinCEN in 2014. Takeaway 2 Poor culture of compliance will result in shortcomings in a financial institution's BSA/AML program. A strong culture of compliance is crucial.

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Compliance Regulation Resources Policies 195

Abrigo

DECEMBER 5, 2023

AML Compliance Ten qualities of a successful BSA officer Hiring a Bank Secrecy Act (BSA) Officer for a financial institution involves looking for a unique experience level and skillset that ensures compliance with the BSA and related regulations.

Training 221

Training Compliance Regulation Software 221

Abrigo

FEBRUARY 14, 2024

WATCH NOW Takeaway 1 Reduce stress and mitigate financial and compliance impacts Takeaway 2 AML employee succession plans should be “living” documents. Planning now will mitigate the compliance risk from turnover and reduce stress for you and your AML program during times of change. What tasks are required per regulations?

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Training Fraud Compliance Regulation 195

Abrigo

JANUARY 14, 2021

How Institutions Can Avoid Fraud Surprises in the Next Round of the PPP BSA and fraud professionals saw a spike in PPP fraud during the first two rounds of funding. How can they be better prepared to prevent fraud in this next round? Stopping PPP Fraud in New Round of Funding. PPP Fraud Spikes.

Fraud 195

Fraud Compliance Community Trends 195

Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Additionally, FinCEN has released three recent COVID-19 related fraud advisories and red flags, and a regulatory joint statement regarding customer due diligence on Politically Exposed Persons (PEPs). Fraud Prevention.

Regulation 195

Regulation Fraud Compliance Trends 195

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 221

Training Compliance Fraud Policies 221

Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Additionally, FinCEN has released three recent COVID-19 related fraud advisories and red flags, and a regulatory joint statement regarding customer due diligence on Politically Exposed Persons (PEPs). Learn more.

Regulation 195

Regulation Fraud Compliance Lending 195

Abrigo

JULY 10, 2023

Stay up-to-date on AI fraud trends to protect your clientele Emerging AI fraud schemes reveal holes in financial institution's defenses. Takeaway 2 Improving security questions is a good step to take to avoid text-to-speech AI fraud schemes. Here are several suggestions for tightening security.

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Fraud How To social media Security 150

Abrigo

JUNE 4, 2024

Navigating credit quality, compliance, and technology integration The ThinkBIG conference hosted by Abrigo fosters networking and professional development for bankers. You might also like this on-demand webinar, "Navigating uncertain times: Strategies for risk management and compliance."

Compliance 221

Compliance Community Bank Community Conference 221

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 195

Training Compliance Fraud Policies 195

Perficient

DECEMBER 27, 2023

Other, traditional financial crime risks, especially fraud, continue to demand banks’ vigilance. Significant increases in Suspicious Activity Reports (SAR) filings related to fraud highlight the importance of effective processes to prevent, identify, and file SARs within a timely manner.

Compliance 221

Compliance FDIC Regulation Fraud 221

Abrigo

NOVEMBER 3, 2021

FinCEN provides guidance on Cyber Fraud What can financial institutions do to prevent and detect cyber fraud? You might also like this blog on FinCEN's AML/CTF priorities on cyber fraud. Takeaway 3 The FinCEN releases also focus on money mule schemes and imposter fraud, both increasing due to the pandemic. .

Fraud 195

Fraud Video Training Bitcoin 195

Perficient

JUNE 19, 2024

Our risk and regulatory compliance experts, Carl Aridas and Chandni Patel, have just returned from XLoD 2024 in New York. The event brought together the world’s top financial institutions and regulators to discuss the future of non-financial risk and control.

Exercises 221

Exercises Compliance Risk Management Video 221

Abrigo

JULY 9, 2024

Takeaway 2 Financial institutions will need to incorporate FinCEN's national AML/CFT priorities into their risk assessments and compliance programs. The proposed rule’s requirement that boards of directors not only approve programs but also oversee them emphasizes the importance of top-level governance and a strong culture of compliance.

Compliance 221

Compliance Fraud Regulation National 221

Abrigo

JUNE 13, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation and fraud continue to rise as the baby boomer generation ages. Takeaway 3 Education and reporting are key to preventing this type of fraud, so know your state's policies. .

Fraud 195

Fraud Training United States Survey 195

Perficient

DECEMBER 22, 2023

This blog was co-authored by: Ashley Simmons In conversations with financial services executives, Perficient consultants consistently delve into the application and usage of artificial intelligence (AI) within the industry. A pivotal aspect of this conversation revolves around the regulatory perspective toward AI.

Risk Management 221

Risk Management Compliance Fraud Regulation 221

Abrigo

AUGUST 19, 2020

Key Takeaways COVID-19-related fraud are not new typologies; they just have a new spin. Adjusting your velocity scenarios can help detect money mule scams and check fraud. . COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

Fraud 195

Fraud System Trends Software 195

Abrigo

FEBRUARY 9, 2023

Name screening for sanctions compliance Understand regulatory expectations surrounding name screening and the best lists for your risk-based AML program. Takeaway 2 It can be difficult to find a comprehensive PEP list, but a PEP list can be an essential addition to a bank’s fraud detection system.

Fraud 195

Fraud Training Software Compliance 195

Perficient

SEPTEMBER 16, 2022

Consumer protection – Concern for the consumer was emphasized throughout the letter as the FRB highlighted risks to the public due to price volatility, misinformation, fraud, as well as the outright loss or even theft of assets. The letter highlighted mandatory compliance with the following federal regulations: The Bank Holding Company Act.

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Compliance Risk Management System Regulation 275

Abrigo

JANUARY 30, 2024

REGISTER Takeaway 1 Banking and compliance professionals rely on ThinkBIG to elevate their understanding of industry shifts and regulatory pressures. Banking and compliance professionals rely on the annual conference to elevate their understanding of industry shifts and regulatory pressures that hammer them daily.

Conference 195

Conference Arizona Phoenix Fraud 195

Abrigo

AUGUST 19, 2020

Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

Fraud 195

Fraud System Trends Software 195

Abrigo

FEBRUARY 5, 2021

You might also like this webinar: "Detecting PPP Fraud: Optimizing Your AML Solution". Takeaway 1 To prevent the kind of fraud that plagued the Paycheck Protection Program in 2020, the SBA has put new measures in place that have created challenges. PPP fraud-prevention challenges arise. New Guidance Out. Ongoing changes help.

Fraud 195

Fraud Lending Taxes Regulation 195

Abrigo

AUGUST 7, 2023

Assessing and preparing for staffing needs AML and fraud compliance is an essential obligation for financial institutions. Safeguarding the integrity and effectiveness of a financial institution’s anti-money laundering (AML) program is paramount to ensuring regulatory compliance and detecting illicit activity.

Training 195

Training Fraud Leadership Resources 195

Perficient

FEBRUARY 29, 2024

This blog was co-authored by Perficient’s Chief Strategist and banking expert: Scott Albahary A slowing global economy, coupled with a divergent economic landscape, poses challenges for the banking industry in 2024. Facilitation of embedded lending while ensuring compliance: Embedded finance initiatives must adhere to regulatory requirements.

Trends 221

Trends Industry Analytics Compliance 221

Abrigo

DECEMBER 17, 2021

Takeaway 1 Strengthen your financial institution's culture of compliance through a staffing assessment. Adequate staffing is crucial for areas with high regulatory scrutiny , such as the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) and fraud functions. Would you like other articles like this in your inbox? Be Prepared.

Compliance 195

Compliance Training Fraud Resources 195

Abrigo

MAY 9, 2022

Best Practices for Third-Party BSA/AML Assistance Collaborating with a third-party BSA/AML vendor can save time and money when it comes to sanctions compliance. The COVID-19 pandemic has substantially increased the need for fraud detection across the country, with hard dollar losses keeping financial organizations on their toes.

Compliance 195

Compliance Fraud Regulation Resources 195

Abrigo

AUGUST 4, 2021

Survey: Top Challenges and Trends for BSA/AML Professionals Abrigo's 2021 FinCrime survey benchmarks obstacles and trends for BSA/AML and fraud professionals. Takeaway 2 Banking cannabis-related businesses and cryptocurrency are two hot topics in the BSA/AML and fraud space. What problems are compliance professionals facing today?

Fraud 195

Fraud cryptocurrency Survey Trends 195

Abrigo

FEBRUARY 9, 2024

However, they would be required to file a modified suspicious activity report (SAR) for any sale or transfer of residential real property that meets the requirements outlined in the proposed rule. Get regular updates created by and for AML professionals.

Training 195

Training Fraud Trends Report 195

Abrigo

JUNE 27, 2023

Key Takeaways Real estate markets are vulnerable to money laundering and fraud because of their transaction size and appreciation over time. Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases.

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El Paso United States Miami New York City 195

CFPB Monitor

JUNE 30, 2022

Of special note, the OCC also believes compliance risk is “heightened” for Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) compliance because of world events and compliance staffing concerns. BSA/AML Compliance Risks.

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Compliance Fraud Technology Operations 78