PYMNTS

AUGUST 14, 2020

China’s peer-to-peer (P2P) lending sector, once 6,000 businesses strong, has been reduced to fewer than three dozen as the government tightened regulations, leaving billions in loans unpaid. Regulators and law enforcement will try their best to recoup the money, he told China Central Television Friday (Aug. 14), per the report.

Lending 315

Lending Regulation Industry Fraud 315

PYMNTS

FEBRUARY 27, 2020

Fraud continues to increase in many areas, despite extensive attempts to bring it to heel. Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 billion , and phishing attacks now comprise 30 percent of all fraud attempts. billion to $7.2 million USD).

Fraud 150

Fraud Examples Online Data 150

PYMNTS

MAY 12, 2020

In the mad dash to secure Paycheck Protection Program (PPP) funds, small businesses have faced confusion, anxiety and often a lack of clarity as to when they would receive capital – if at all. The process was chaotic for the lenders, too, creating greater potential for fraud amid an unprecedented SMB stimulus effort. Incoming Waves.

Fraud 154

Fraud Regulation Lending Capital 154

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

FEBRUARY 6, 2025

bank and credit union regulators expect financial institutions to implement robust internal controls for managing the credit, market, liquidity, and operational and legal risks associated with investment holdings. banking regulations. You might also like this on-demand webinar, "Winning the deposit game."

Compliance 195

Compliance Technology Operations Risk Management 195

PYMNTS

JUNE 22, 2020

Becky Schmitt , the company’s chief people officer, said in a letter to employees and regulators that the company regrets the incident and has been taking it seriously, the report stated. She added that the company is continuing to monitor the account, but it has not detected any increase in fraud for the accounts.

Cards 257

Cards Fraud Course Report 257

PYMNTS

SEPTEMBER 27, 2017

According to a news report in The Wall Street Journal , the lawsuit, which was filed by the Irving Firemen’s Relief & Retirement Fund, contends that Uber’s ex-CEO, Travis Kalanick, knew he was misleading investors during capital-raising efforts by not informing them that Uber may have broken laws.

Fraud 134

Fraud Software California Capital 134

Abrigo

SEPTEMBER 25, 2024

However, in most years, E-Tran handles far fewer loans for the following programs: 7(a) Loan Program : Known for its flexibility, 7(a) loans can be used for working capital, equipment purchases, real estate, and more. Those loans also used E-Tran for origination. appeared first on Abrigo.

Lending 379

Lending St. Louis Fraud Software 379

PYMNTS

AUGUST 2, 2019

The investigation was in April, ahead of the Capital One hack that resulted in the arrest of a former Amazon engineer. Capital One is just one of numerous financial institutions using Amazon’s cloud services to store customer data, igniting the question of where banks end and vendors begin. . banking system.

Regulation 144

Regulation Virginia Google Capital 144

Abrigo

OCTOBER 3, 2014

Thomas focused on three key issues directly affecting the present and future of the accounting industry – increased regulations, a shifting workforce, and changing continuing education – as well as some thoughts on the opportunities these challenges offer.

New Jersey 270

New Jersey social media Industry Regulation 270

Abrigo

JUNE 12, 2023

A regulatory baseline Benefits to adopting the model money transmitter act framework Money transmitters are regulated at the state level, and the absence of a standardized licensing and regulatory framework across states can lead to consistency and challenges for money transmitters. alone, handling $6 trillion in payments.

Compliance 195

Compliance Fraud Regulation Guidelines 195

PYMNTS

JUNE 26, 2020

He also said the EU should investigate whether the German regulator broke the law if ESMA determines BaFin failed to uphold the bloc’s financial reporting rules. We need to clarify what went wrong.”. A mid-July deadline for a reply from ESMA has been set, he added.

Regulation 152

Regulation Capital Policies Course 152

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Of course, banks and credit unions are highly regulated industries, and this is increasing. They must not only comply with regulations aimed at protecting the safety of the FI but also those protecting the customers/members.

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Of course, banks and credit unions are highly regulated industries, and this is increasing. They must not only comply with regulations aimed at protecting the safety of the FI but also those protecting the customers/members.

Technology 195

Technology Fraud Compliance Regulation 195

PYMNTS

JUNE 29, 2020

Numerous regulators had discussions over the years about tightening supervision on Wirecard or adding it to a list of potential subjects for more investigations, but all decided against it, Reuters reports. Putting it under the umbrella of financial firms would have put the whole company under bank regulation.

Regulation 144

Regulation Report Capital Company 144

PYMNTS

MAY 13, 2019

Henrik Ramlau-Hansen, the former chair of Denmark’s financial regulator and former Danske Bank finance director, has been charged by Danish economic prosecutors. He resigned in 2018 at the same time a scathing Danske report from the regulator was issued. He has recused himself from the investigation.

Regulation 139

Regulation Report Capital Marketing 139

PYMNTS

MARCH 7, 2016

Banks may face tougher guidelines when it comes to how much they are required to spend to cover the risks that cyberattacks, fraud and fines pose to their operations. “For most banks, the committee expects that these proposals will have a relatively neutral impact on capital.

Regulation 100

Regulation Guidelines Capital Operations 100

PYMNTS

JANUARY 27, 2021

Tat Capital Debuts Value-Add For Corporate Cards. Tat Capital launched a new solution in Australia aimed to help small- to medium-sized businesses (SMBs) make use of the credit lines available via their corporate cards in new ways. Peoples Trust Secures CDIC Insurance For Payroll Cards. Adflex CEO Raises Commercial Card PSD2 Concerns.

Cards 237

Cards Capital Security Compliance 237

PYMNTS

DECEMBER 8, 2020

The company said its technology prevented one fraud attempt every 51 seconds during the month, totaling 22,000 thwarted attacks. It also noted that it stopped 144,946 fraud attempts from March through September. Capital Float On Using Video-Based KYC To Boost Onboarding, Satisfy Regulators. About The Tracker .

Video 211

Video Report Meeting United States 211

PYMNTS

APRIL 18, 2017

In the effort to shore up cyber defenses among financial companies, regulations are looming in New York state. Consider the fact that all those verticals have a strong showing in the state, as New York City reigns among the financial capitals of the world. There is both the technical and the human aspect of payments fraud,” he said. “At

New York 166

New York New York City Fraud Regulation 166

PYMNTS

NOVEMBER 14, 2017

Another key risk stems from the fact that, depending on how they are structured, ICOs may fall outside of the scope of EU laws and regulations, in which case investors cannot benefit from the protection that these laws and regulations provide.

Regulation 100

Regulation Bitcoin cryptocurrency blockchain 100

PYMNTS

JUNE 3, 2020

Osvaldo Giménez , executive vice president and CEO of FinTech, which includes Mercado Pago, told PYMNTS that the region is complex, with different regulations governing each of the 18 countries where it trades. “I That means anti-fraud measures have 18 different varieties, as do other financial regulations.

America 248

America Regional Fraud Mobile 248

Chris Skinner

JANUARY 30, 2017

Things we’re reading today include … Former HBOS manager found guilty of corruption and fraud Former top City regulator joins Standard Chartered JPMorgan in push to mine customer data Bank of England pumps £5bn into firms and £20bn into banks to keep interest rates down UniCredit capital warning spooks investors MasterCard wins ruling (..)

Fraud 150

Fraud Capital Regulation Data 150

PYMNTS

AUGUST 25, 2017

24) it has temporarily suspended trading in the securities of Canada-based company First Bitcoin Capital Corp. The move on the part of the SEC comes as the government agency has already signaled it would regulate the cryptocurrency market. The Securities Exchange Commission (SEC) announced Thursday (Aug. 7 of this year.

Bitcoin 104

Bitcoin Capital cryptocurrency Security 104

PYMNTS

AUGUST 7, 2020

A recent survey revealed that 93 percent of United Kingdom gaming compliance managers anticipate growing numbers of chargebacks and fraud as the pandemic prods consumers to access online services. Gaming platforms were facing increasing instances of fraud before the pandemic began. Fighting Back Against Gaming Fraud .

Online 222

Online System Fraud Video 222

PYMNTS

AUGUST 20, 2020

A multitude of SMB investors are looking to help, but lending to digitally focused SMBs comes with its own hurdles, including fraud risks and inefficient lending procedures driven by stiff regulatory measures. One of the most pressing issues plaguing SMB lenders is the risk of fraud. Fraud targeting SMB lenders has increased by 7.3

Fintech 177

Fintech Fraud Lending Regulation 177

PYMNTS

OCTOBER 8, 2018

Instead, they are drawing fines from regulators and taking on massive damages. They are highly sophisticated, well-capitalized crime rings that are recruiting Ivy League talent to think of new approaches to get around the rules most systems are using to screen for fraud. New Technology For Regulators.

Fraud 190

Fraud Regulation Compliance System 190

PYMNTS

JANUARY 20, 2020

regulators have levied $126 million in fines for data violations since mid-2018, Google CEO Sundar Pichai calls for international cooperation in artificial intelligence (AI) governance and U.K. UK Regulators’ Data Violations Fines Top $126.5M. Regulators in the U.K. In today’s top payments news, U.K.

Google 130

Google Regulation Data Boston 130

Independent Banker

SEPTEMBER 25, 2014

The better prepared, the less likely they are to run afoul of the continually shifting regulations. Regulators and industry consultants agree that community banks are generally doing a great job handling their regulatory oversight and requirements. Be aware of existing or emerging risk concerns. increased operational risks.

Compliance 101

Compliance Regulation Community Bank Community 101

PYMNTS

FEBRUARY 26, 2019

Dimon called bitcoin a “ fraud ” during the apex of the crypto boom. The bank said it supported crypto as long as it was properly regulated. “We We have always believed in the potential of blockchain technology, and we are supportive of cryptocurrencies as long as they are properly controlled and regulated,” the bank said. “As

cryptocurrency 175

cryptocurrency blockchain Bitcoin Payments 175

PYMNTS

DECEMBER 7, 2018

Not to ruin your holiday spirit, but let’s start this story with the cold and brutal truth: One of the largest risks that payments and commerce operators face in 2019 is being called to account by government officials, regulators or media about a failure to secure their organizations from cyberattacks. and other places.

Payments 240

Payments Tools Security Regulation 240

PYMNTS

NOVEMBER 7, 2019

The Bank of England has told HSBC to improve compliance controls for non-fiscal factors like fraud and staff conduct, according to a report by Reuters. The shortcomings were pointed out by Prudential Regulation Authority regulators. Combined, the assets make up one-third of the bank’s capital, according to Stevenson.

Compliance 101

Compliance Fraud Taxes Regulation 101

PYMNTS

FEBRUARY 27, 2017

Capital One Financial disclosed in a Securities and Exchange Commission filing last week that it’s being investigated by the New York District Attorney’s Office, the Justice Department and the Financial Crimes Enforcement Network of the Treasury Department for its anti-money laundering program. That all changed with the filing late last week.

Capital 100

Capital New York Cards Report 100

PYMNTS

FEBRUARY 28, 2020

Regulations, said the report, are “extremely lax” especially when it comes to Know Your Customer (KYC) and anti-money laundering (AML) efforts. In one example cited in the paper, an official of the Panamanian payment processing firm Crypto Capital, Ivan Manual Molina, was arrested as part of a probe conducted by Polish authorities.

America 217

America cryptocurrency Regional ATM 217

PYMNTS

FEBRUARY 27, 2020

At the same time, digital banks are looking to capitalize on their growing small and medium-sized business (SMB) customer base, with open banking and bank-FinTech collaborations an important part of that strategy. Enfuce Tackles Fraud In Open Banking. Small businesses continue to embrace digital banking.

Fintech 192

Fintech Fraud Data Lending 192

PYMNTS

DECEMBER 17, 2019

Headlines are filled with reports of service outages and data breaches , and both banks and consumers are contending with rising fraud concerns as digital banking takes off. Fraud threatens everyone, yet customers rely on their banks for protection. FIs around the globe are also grappling with faster.

Technology 142

Technology Fraud Data Security 142

PYMNTS

FEBRUARY 1, 2017

The largest anxiety critics of the alternative lending space have today is a lack of regulation. Without investor protection and without regulation on the cost of financing, small and medium-sized businesses, those critics say, may be left in a tighter cash bind than they were before.

Regulation 100

Regulation Lending Industry Fraud 100