Abrigo

OCTOBER 21, 2019

Cybersecurity | 4 minute read Key Takeaways Third-party/vendor risk management is becoming increasingly challenging with more cloud-based providers. On top of initial vendor due diligence, there are ongoing, systematic approaches to managing third-party relationships. . Cyber Due Diligence. This is a big misconception.

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Perficient

AUGUST 4, 2024

High-Impact Examples in the Financial Services Industry Real-Time Fraud Detection and Prevention Fraud detection is critical in the financial industry. For example, a bank can integrate its transaction processing system with Azure Machine Learning to instantly identify and flag suspicious activities, reducing fraud risk.

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Industry Compliance Examples Risk Management 467

PYMNTS

APRIL 30, 2020

Supplier risk management is often a resource-intensive practice and rarely a target of technological investments. As a result, corporates will often let their vendor relationship management processes fall by the wayside. This lack of attention given to supplier risk meant wasted spend and fraud. Unprecedented Risk.

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PYMNTS

JUNE 29, 2020

In the ongoing scandal of Wirecard , under fire for fraud, the focus is now turning to auditors Ernst & Young (EY), which reportedly failed to report Wirecard’s “unorthodox financial arrangements” as far back as 2016, The Wall Street Journal (WSJ) reported.

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Abrigo

MARCH 21, 2023

You might also like this video on managing interest rate risk. WATCH Takeaway 1 Earning more income and mitigating interest rate risk isn’t as simple as charging higher rates on loans and earning higher rates on the investment portfolio. Stay up to date with Abrigo advisors' ideas for managing interest rate risk.

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Abrigo

OCTOBER 23, 2019

In a marketplace where data is shared and distributed at record speeds, third-party or vendor risk management is a challenge for most businesses. This movement to the cloud requires a robust vendor due diligence process and rigorous ongoing third party management that includes a focus on cybersecurity controls.

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PYMNTS

JULY 8, 2020

He and Nitendra Rajput , Mastercard’s vice president of product development and head of the company’s “AI Garage,” said that in many cases, AI is the only way to scale up sufficiently to meet the challenges the company faces with fraud and other business issues. “It Fighting Fraud in a Post-Pandemic World.

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Perficient

APRIL 8, 2024

To bolster its capabilities and ensure compliance, the bank sought assistance from Perficient in delivering exceptional project and program management services to tackle their significant hurdles. Supporting the change management team in building a robust governance structure for program PMO activities.

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Compliance Management Guidelines Risk Management 221

Payments Dive

DECEMBER 14, 2020

There is no question that 2020 silenced any lingering doubts regarding the need for businesses interested in staying in business to embrace digital transformation.

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PYMNTS

DECEMBER 19, 2018

19) that it has inked a partnership deal with Feedzai, an artificial intelligence (AI) developer for real-time risk management across banking and commerce. Citi’s Treasury and Trade Solutions (TTS) announced on Wednesday (Dec.

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PYMNTS

DECEMBER 29, 2020

With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. Can you really know your customer if you don’t know their location?” Complex Compliance.

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Abrigo

SEPTEMBER 30, 2024

Streamline fraud and AML efforts Financial institutions that combine fraud and AML/CFT alerts into a single transaction monitoring system can strengthen defenses and improve efficiency. Takeaway 3 Modernizing AML/CFT programs with shared case management aligns with FinCEN's emphasis on innovation and streamlining processes.

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Abrigo

FEBRUARY 6, 2024

4 Reasons better check fraud prevention is a good investment Check fraud is on the rise. Learn how you can save time and money in the long run by updating check fraud prevention capabilities today. At the same time, check fraud is increasing dramatically. At the same time, check fraud is increasing dramatically.

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PYMNTS

APRIL 15, 2020

While there is no shortage of new things in the world to get used to these days, cybercrime and fraud are, unfortunately, not among them. The good news, both Srinivasan and Awad told PYMNTS, is that while fraud attempts are up among U.S. consumers, fraud losses are not, yet. million pounds out of the unwitting. The New Normal.

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PYMNTS

OCTOBER 1, 2020

Kount , the Boise, Idaho-based Software as a Service (SaaS) platform designed to simplify fraud detection and improve profitability, announced it has partnered with Verifi , the payment protection and management company. In June, Visa signed an acquisition agreement with Verifi. “The

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Perficient

OCTOBER 12, 2020

We are excited to announce our partnership with Kyriba and dedicated practice to provide our Oracle clients with a robust cloud-based treasury management solution. Payment fraud is now a high-priority concern.

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Risk Management Fraud Management Compliance 309

Abrigo

FEBRUARY 8, 2024

Client fraud education to prevent banking losses Financial institutions play a crucial role in safeguarding customers and members from fraud. Fraud education is key. You might also like this infographic: 5 Fraud typologies impacting you and your customers or members. DOWNLOAD Takeaway 1 U.S.

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PYMNTS

DECEMBER 9, 2020

Managing credit risk used to be a reactive process. Bank customers would fall behind on their payments, and their banks might react by imposing fees or having a case manager work with them to bring their accounts back up to speed. In severe cases, banks might have to take the drastic measure of closing accounts altogether.

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Perficient

APRIL 2, 2021

fraud detection and financial crime monitoring). email, text, audio data), with the aim of identifying fraud or anomalous transactions. These technologies are also used to better target marketing in retail and customize trade recommendations in wealth management. Risk Management. Credit Decisions. Textual analysis.

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Abrigo

DECEMBER 22, 2023

The most popular financial crime blogs in 2023 Check fraud, the SAFER Banking Act, and BSA exam topics were among Abrigo's top blogs on AML/CFT and fraud this year. You might also like this infographic on the true costs of fraud at financial institutions. Here are Abrigo’s 10 top AML and fraud blogs in 2023.

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Abrigo

JUNE 3, 2021

Takeaway 2 While crypto crime fell in 2020, there are many risks financial institutions must be aware of. Takeaway 3 To fight cryptocurrency-related risks and mitigate losses, be vigilant and stay on top of fraud trends. By Hannakah Rubin, Risk Management Consultant at Abrigo. Fraud Prevention. Fraud Trends.

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cryptocurrency Fraud Trends Training 368

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 2 The case is under appeal, but it nevertheless holds lessons related to monitoring ACH risks.

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PYMNTS

JUNE 22, 2020

It’s the battle against fraud that can be lost right at the beginning. There’s increased urgency on the part of financial institutions (FIs) to spend more time and money on battling fraud at the point of onboarding, especially as card-not-present transactions surge in the lingering wake of the coronavirus. alone topped $10.2

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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.

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Banking Exchange

JANUARY 10, 2022

Fraud cases increased by 343 between 2020 and 2021 Risk Management Security Cyberfraud/ID Theft Operational Risk Feature3 Feature.

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PYMNTS

MAY 5, 2020

In an interview with PYMNTS, Mitch Pangretic, senior vice president of strategic partnerships at Elan , said that in-person card fraud may have decreased thanks to EMV chips and multi-factor authentication, but card-not-present (CNP) scams are increasingly gaining traction. Interacting With The Cardmember.

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Abrigo

OCTOBER 17, 2023

Why change management is vital for banks and credit unions Regulators promote change management to manage risk, but banks and credit unions can also achieve important benefits when they manage change. This article describes recent comments by financial regulators about managing change.

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PYMNTS

SEPTEMBER 2, 2020

Growth equity firm TCV has acquired spend management tech firm Oversight , according to a press release emailed to PYMNTS, and will help Oversight expand its product innovation for enterprise risk management solutions. Oversight CEO Terrence McCrossan said the acquisition by TCV would be a boon for his company.

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PYMNTS

DECEMBER 13, 2020

Jenn Quindoza , controller/risk manager for the Collegiate School, said the school was pleased with the outcome, especially for its ability to approve and post invoices. Our budget managers now have instant access to processed invoices, and they love that it’s paperless," she said, according to the release.

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Virginia Risk Management Fraud Payments 281

PYMNTS

SEPTEMBER 20, 2018

ProfitStars , the Jack Henry & Associates division that provides risk management solutions for financial institutions, announced its latest fraud tool on Wednesday (Sept. The iPay ESM solution also offers banks the capability to produce reports for their employees or examiners, the company noted.

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PYMNTS

NOVEMBER 10, 2020

PSCU , which is billed as the nation's premier credit union service organization (CUSO), has announced its new Enhanced Fraud Services system, which the company said “has helped 10 early adopter credit unions combat fraud of all types, ranging from first-party chargeback fraud to identifying card information being sold on the dark web.”.

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Abrigo

OCTOBER 22, 2024

Their contributions are massive, and if you’ve ever worked with AML Officers and fraud professionals, you know just how vital they are. Every day, I’m reminded of the critical role the teams at our 2,500 bank and credit union customers play in anti-money laundering (AML), combating the financing of terrorism (CFT), and fraud prevention.

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Abrigo

DECEMBER 17, 2019

The expected outcome of greater inventory at a lower cost, as we have seen in prior years, is an increase in fraud activity and cyberattacks heading into the end of the calendar year. One of the most important links in the chain of e-commerce fraud is the “mule”. Fraud Prevention. Fraud Trends. Fraud Prevention.

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Abrigo

JULY 25, 2023

How offering FedNow instant payments affects fraud & AML/CFT compliance What financial crime staff can do to prepare fraud and AML functions for implementing the FedNow Service for instant payments. Would you like other articles on fraud and AML/CFT compliance in your inbox? Instant payments service What is FedNow?

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PYMNTS

MAY 27, 2020

The May FI Fraud Decisioning Playbook examines the issue of omnichannel fraud and the strategies that banks and CUs are using to detect and thwart it. Around The FI Fraud Decisioning World. Cross-channel fraud is a major threat, and FIs need to quickly detect if it is occurring. Read the full story in the Playbook.

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Abrigo

SEPTEMBER 24, 2024

DOWNLOAD Takeaway 1 A human-in-the-loop approach plays a vital role in ensuring that AI systems effectively support alert and case management for AML/CFT suspicious activity monitoring. Learn how Signature Bank of Georgia enhanced fraud detection. READ STORY Context, complexity, adaptation Why is HITL important in AML/CFT?

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Abrigo

AUGUST 22, 2022

Emerging Check Fraud Trends to be Aware of It seems check fraud will never go away, it just changes its approach every opportunity. You might also like this webinar, "Balancing compliance risk & reward with high-risk businesses." Check Fraud. Still the number one type of fraud in banking.

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