Abrigo

SEPTEMBER 6, 2024

Updated AML/CFT programs: If their financial institution is involved in any part of the covered transaction, such as providing escrow services, AML/CFT professionals must ensure that real estate professionals and advisers are fully integrated into their institution’s compliance framework. Stay up to date on AML/CFT and fraud trends.

Compliance 195

Compliance Training Fraud Regulation 195

Abrigo

JUNE 9, 2020

Compliance is at the center of the lending process at financial institutions. Without the right tools and processes in place, however, compliance can be monotonous and inefficient. Financial institutions are looking for a solution to increase efficiency, decrease risk, and provide complete, defensible documentation for loan types.

Technology 195

Technology Lending Compliance Data 195

Perficient

FEBRUARY 16, 2023

With ServiceNow your company could achieve accelerated development, greater speed to market, and increased team execution and delivery for Financial Institutions while adhering to compliance and risks. This makes it easy for companies to comply with all relevant regulations and keep their customers happy.

Operations 474

Operations Industry Compliance Management 474

Abrigo

AUGUST 31, 2023

Teaching staff these KYC tips to make clients feel more comfortable In 2023, KYC procedures must both support CDD compliance and make sure your institution is a welcoming place for all customers. You might also like this resource, "Customer due diligence checklist." Miss” and thus alienating nonbinary customers.

Compliance 195

Compliance Community Training System 195

Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence Perficient’s Risk and Regulatory Center of Excellence (CoE) remains at the forefront of evolving financial rules and regulations, ensuring readiness to tackle emerging challenges and safeguard financial institutions and its customers.

Compliance 221

Compliance New York Regulation Analysis 221

Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector.

New York 221

New York Compliance Regulation Analysis 221

Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Early communication with your regulator is key to understanding the struggles and successes of managing a BSA/AML program during a global pandemic. 5 Things Regulators Will Look For In Your Next Exam. Learn more.

Regulation 195

Regulation Fraud Compliance Trends 195

Perficient

JUNE 5, 2020

Secure software practices are at the heart of all system development; doubly so for highly regulated industries such as health-care providers. As a best-practice it is recommended to adopt automation of certain security audits, integration of compliance oversight into key development process areas (e.g. Data Stewardship.

Compliance 332

Compliance Security Software System 332

Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Early communication with your regulator is key to understanding the struggles and successes of managing a BSA/AML program during a global pandemic. 5 Things Regulators Will Look For In Your Next Exam. Learn more.

Regulation 195

Regulation Fraud Compliance Lending 195

PYMNTS

NOVEMBER 4, 2020

Today, some documents are still sent the old-fashioned way," explained Tsafrir Attar , vice president of Digitization at Surecomp. Sometimes, they're still sending documents using snail mail.". Trade finance players, including corporates, banks and regulators, are finally ready to embrace modernization and technology.

Regulation 234

Regulation Tools Compliance Technology 234

Abrigo

NOVEMBER 4, 2024

See tailored AML/CFT solutions that can improve your compliance. With recent changes in AML regulations, such as FinCEN’s rule to strengthen and modernize financial institutions' AML/CFT programs, this step is also a regulatory mandate. Learn how automated processes streamline compliance efforts in this webinar.

Training 195

Training Compliance System Regulation 195

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. Who performs those tasks?

Training 195

Training Fraud Compliance Regulation 195

PYMNTS

FEBRUARY 7, 2019

Tightening regulations have introduced loftier compliance burdens to global supply chains, made even more complex and challenging as companies do business with thousands of vendors across borders. The burden of regulatory compliance came to a head in the U.S. regulations, even if a vendor is not in the U.S.

Compliance 164

Compliance Retail blockchain Regulation 164

Perficient

OCTOBER 15, 2024

Lets talk about data governance in banking and financial services, one area I have loved working in and in various areas of it … where data isn’t just data, numbers aren’t just numbers … They’re sacred artifacts that need to be protected, documented, and, of course, regulated within an inch of their lives.

Tools 221

Tools Data Compliance Regulation 221

Abrigo

MAY 22, 2019

Department of the Treasury recently published A Framework for OFAC Compliance Commitments to provide financial institutions and other organizations with OFAC’s perspective on the essential components of a sanctions program. This newly published document mirrors what we know about the requirements of a sound BSA/AML program.

Compliance 150

Compliance Regulation Regional United States 150

Perficient

JANUARY 16, 2024

Regularly review and update policies annually to ensure compliance with current rules and regulations. Implement a check and balance or send policies/procedures through a multi-business review approach to confirm documentation updates and adherence to current rules and regulations.

Compliance 221

Compliance Guidelines Policies Risk Management 221

Abrigo

AUGUST 26, 2024

Takeaway 2 Starting CECL model risk assessments at a high level ensures the focus is on data inputs, assumptions, documentation, and estimates. Understanding how to identify these potential CECL risks is essential for ensuring compliance and accuracy in credit loss estimates. Stay up to date with CECL best practices.

Compliance 195

Compliance Management Regulation Data 195

Realwired Appraisal Management Blog

MAY 31, 2024

The regulators are digging deep, very deep. The demands for meticulous documentation, clear communication trails and absolute compliance with regulatory standards can be overwhelming. Many Chief Appraisers are dealing with FDIC auditors camped out in their office.

Regulation 52

Regulation FDIC Compliance 52

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. To achieve this, the AML/CFT program must be meticulously documented and approved by the financial institution’s board of directors. These include establishing: Governance mechanisms.

Compliance 221

Compliance Fraud Regulation National 221

PYMNTS

JUNE 11, 2020

Social distancing restrictions implemented to curb the virus’s spread are preventing compliance professionals from obtaining physical identification documents and holding in-person meetings that typically enforced anti-money laundering/know your customer (AML/KYC) compliance. Compliance Enforcement Goes Remote With Biometrics.

Compliance 186

Compliance Guidelines Meeting Tools 186

PYMNTS

SEPTEMBER 24, 2020

Reducing fees for remittances might push price points low enough that more consumers could resume sending money home, though, and some researchers believe that money transfer service providers could make such price adjustments if they are able to reduce their own expenses through more robust and cost-effective regulatory compliance measures. .

Compliance 223

Compliance Tools Fraud Regulation 223

PYMNTS

FEBRUARY 12, 2020

The DPC — which acts as the regulator for all of Europe — searched the social media giant’s offices in Dublin. Privacy regulators raised concerns that the new feature wasn’t compliant with the new General Data Protection Regulation (GDPR). “We

Regulation 140

Regulation Compliance social media Data 140

CFPB Monitor

AUGUST 12, 2022

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) released Draft Amendments to its Cyber Security Regulations. If passed, this third component would represent a significant new obligation for covered entities, potentially changing the manner in which companies document ransomware responses.

Regulation 147

Regulation Cyber Security New York Trends 147

Abrigo

NOVEMBER 3, 2023

WATCH Takeaway 1 How can you ensure ongoing compliance and efficient management of the allowance for credit losses? Takeaway 3 Some important ongoing actions for CECL staff include ongoing data validation and documenting qualitative factors, or Q factors Processes and approaches for the ACL What are CECL best practices?

Management 195

Management Policies Training Compliance 195

Abrigo

SEPTEMBER 24, 2024

You might also like this checklist, "6 steps for compliance with the new AML/CFT program rules." Takeaway 3 Financial institutions evaluating AML/CFT software have several compliance considerations related to involving humans in processes. A purely AI-driven approach may miss these nuances.

Software 195

Software Management Compliance Resources 195

CFPB Monitor

MAY 3, 2022

On April 28, 2022 the New York Department of Financial Services (“NYDFS”) issued its Guidance on Use of Blockchain Analytics , a document directed to all virtual currency business entities that either have a NYDFS Bitlicense or are chartered as a limited purpose trust company under the New York Banking Law.

Analytics 147

Analytics blockchain Compliance Policies 147

PYMNTS

APRIL 8, 2019

Australian financial regulators are feeling pressure to ensure financial institutions treat customers properly and have turned to artificial intelligence (AI) in an attempt to improve compliance, according to a report by the Financial Times. They also lied to regulators and adversely cost customers millions by giving bad advice.

Compliance 108

Compliance Regulation Industry National 108

PYMNTS

JULY 25, 2019

When it comes to regulatory compliance, no corporate is an island. An organization may have the resources to stay on top of ever-evolving regulations, but increasingly, businesses are being held accountable not only for their own compliance standing, but also that of their business partners down the supply chain.

Compliance 100

Compliance Regulation Data Analytics 100

Perficient

APRIL 2, 2021

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. Applications include analysis of regulations, news flow, earnings reports, consumer complaints, analyst ratings changes, and legal documents. Cybersecurity.

Regulation 309

Regulation Industry Risk Management Analysis 309

Abrigo

APRIL 27, 2020

The Exam Manual was originally intended to provide instructions to examiners when assessing the adequacy of a financial institution’s BSA/AML compliance program when it was first published in 2005. Retain all documentation used in developing your risk assessment, including all reasoning in elevating, or decreasing a particular risk category.

Regulation 195

Regulation Compliance Software Analytics 195

CFPB Monitor

JULY 29, 2021

A new Nevada law that becomes effective on October 1, 2021 requires translated documents to be provided to consumers by businesses that advertise and negotiate transactions covered by the law in a language other than English (or allow their agents or employees to advertise and negotiate in a language other than English).

Nevada 78

Nevada Cards Regulation Compliance 78

PYMNTS

NOVEMBER 2, 2020

Regulation. The Digital Services Act will be one of the regulations, which Vestager said will revise the eCommerce Directive and will make digital services take additional responsibility for contending with “illegal content and dangerous products.”. The Digital Markets Act is a second set of regulations. each month.

Taxes 212

Taxes National Regulation Google 212

Abrigo

OCTOBER 30, 2024

Increasing efficiency of compliant AML investigations To boost AML program productivity and keep pace with evolving compliance demands, financial institutions should focus on strategic operational improvements paired with the smart use of technology. See tailored AML/CFT solutions that can improve your compliance. Learn more 1.

Compliance 221

Compliance Training System Management 221

Perficient

JUNE 1, 2023

We also enable clients to use Writer’s snippets to follow strict compliance regulations and efficiently include disclosures in their Sales and Marketing. Boost operational efficiency and rapid scalability by effortlessly generating new documents using existing data and content with the help of AI-powered document creation.

Compliance 251

Compliance Industry Regulation Data 251

PYMNTS

JULY 1, 2020

In today’s top news, the Senate extended the PPP application deadline by five weeks, and an internal document reveals a small client base brought in over 50 percent of Wirecard’s sales. Plus, Brazil’s antitrust regulator said it will reverse its decision to suspend the WhatsApp-Cielo partnership.

Payments 130

Payments Compliance System Regulation 130

Independent Banker

SEPTEMBER 25, 2014

This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. The better prepared, the less likely they are to run afoul of the continually shifting regulations. But now, the regulators are raising the bar … and rates can’t stay at this level forever.”.

Compliance 101

Compliance Regulation Community Bank Community 101

CFPB Monitor

NOVEMBER 3, 2021

On October 29, the CFPB published additional frequently asked questions on Regulation F, its final debt collection rule, as well as a guidance document. Regulation F is effective November 30, 2021. (Last month, the CFPB published FAQs on the rule’s limited-content message and call frequency provisions.). c) and (d)(1).

Regulation 78

Regulation Compliance Examples Cards 78