Fintech Finance

DECEMBER 9, 2024

Morgan Andres Betancourt, Vice President, AML Sanctions Canada & International Advisory at PNC Bank Andrew Eichel, VP of Payments & Compliance at Lotto.com Inc. Morgan Andres Betancourt, Vice President, AML Sanctions Canada & International Advisory at PNC Bank Andrew Eichel, VP of Payments & Compliance at Lotto.com Inc.

Office of the Comptroller of the Currency 95

Office of the Comptroller of the Currency Financial Crimes BSA Cross-Border Payments 95

PYMNTS

DECEMBER 4, 2018

The agencies, in tandem with the Financial Crimes Enforcement Network (FinCEN), said they “recognize that private sector innovation” that builds on existing tools or embraces new technologies can help banks identify and report money laundering , terrorist financing and other illicit activities. Senate Hearing on AML.

Financial Crimes 64

Financial Crimes Crime BSA Innovation 64

Fintech News

JULY 17, 2024

This decrease suggests that the anti-money laundering (AML) programmes of centralised exchanges are becoming more effective at detecting and mitigating laundering activity. This includes robust regulatory frameworks, advanced technological solutions, and enhanced global cooperation. billion in 2024.

Money Laundering 109

Money Laundering Law Enforcement AML Non-Bank 109

PYMNTS

DECEMBER 17, 2018

The FinCEN said UBSFS didn’t develop and use an appropriate anti-money laundering (AML) system to address the risks in accounts from both traditional brokerage and banking services. Broker-dealers providing banking-like services must properly mitigate the AML risks associated with this kind of service.

Fincen 55

Fincen AML BSA Money Laundering 55

PYMNTS

SEPTEMBER 20, 2016

Fiserv , the provider of financial services technology solutions, announced on Monday (Sept. “EFT fraud attempts are increasing in size, frequency and sophistication,” said Jason Vazquez, senior vice president, deputy chief risk officer and BSA/AML compliance officer for Sterling National Bank, in the press release.

BSA 67

BSA FedWire Risk Mitigation ACH 67

FICO

FEBRUARY 14, 2017

In yesterday’s post, my colleague TJ Horan introduced the topic of artificial intelligence being applied to anti-money laundering (AML). The AML Threat Score uses historic alerts and user decisions. Compliance departments should develop strategies on how to leverage these new technologies to contribute to their success.

AML 40

AML Compliance AI Money Laundering 40

Finovate

JUNE 24, 2024

Bloom’s technology helps facilitate the extension of affordable credit to the millions of consumers who are either subprime borrowers or have thin/no file with major credit agencies. The company’s technology also provides automatic alignment with the latest regulations in privacy, lending, money movement, BSA/AML, ACH, and more.

Risk Assessment 59

Risk Assessment BSA Assessments AML 59

PYMNTS

APRIL 27, 2020

It’s not realistic to manage 20 million retail bank accounts” at the Fed, contended Cagney, especially with the infrastructure needed to support robust know-your-customer (KYC) and anti-money laundering (AML) activities. The IRS is also contending with inter-departmental communications and challenges of having everyone work from home.

Blockchain 108

Blockchain Tax Refunds IRS Fed 108

FICO

DECEMBER 23, 2020

It has also opened new doors for criminals, who have rushed to exploit the uncertainty in a pandemic world and devised new money laundering and terrorist financing schemes by taking advantage of loopholes in the regulations, new ways of working aided by advances in technology, and electronic payment innovations.

Financial Crimes 52

Financial Crimes Ransomware Crime AI 52

The Fintech Times

SEPTEMBER 19, 2024

Whenever we discuss fraud prevention strategies or solutions, it is always clear that while new technologies could potentially help protect firms from attacks, the very same tech is being leveraged by cybercriminals to achieve the opposite result. For fraud, the focus was historically on customer identity.

Risk 59

Risk Financial Crimes AML Risk Management 59

Finovate

AUGUST 20, 2024

Features Leverage free API gateway for real-time vendor monitoring Elevate operations and engagement with intuitive web admin portal Scale platform with patent-pending branding technology Who’s it for? Banks, credit unions, payment providers, and financial institutions focused on unsecured consumer lending.

Credit Union 59

Credit Union Payment APIs and Integration BSA SARS 59

PYMNTS

DECEMBER 10, 2020

Financial laws governing such transactions date back to 1970 when the Bank Secrecy Act (BSA) was enacted , requiring financial institutions (FIs) to report transactions of $10,000 or more. Banks and other FIs must be certain that their clients are who they claim to be and adhere to AML compliance — or be held accountable. .

Due Diligence 80

Due Diligence Online and Mobile Banking BSA Federal Reserve 80

Finovate

MARCH 13, 2024

Courtesy of the partnership, the Baltimore, Maryland-based financial institution will leverage Prelim’s technology and expertise to enhance its account opening services. The Harbor Bank of Maryland has partnered with digital account onboarding specialist Prelim.

Accounts 59

Accounts BSA Debit Card AML 59

Finovate

DECEMBER 22, 2023

. “At Refine intelligence, our mission is to help banks regain that superpower of really knowing their customers’ life stories, so their financial crime teams can quickly clear AML or scam alerts triggered by legitimate customer activity. We work with Risk, Financial Crime, BSA and AML teams.

Financial Inclusion 64

Financial Inclusion Automation AI Financial Crimes 64

FICO

JANUARY 8, 2020

The stage is already set; at FICO World 2019 in New York City, we learned that the capabilities of fraud and anti-money laundering (AML) systems have about an 80% overlap. I predict that in 2020, fraud and compliance functions will converge at many large banking institutions.

Compliance 52

Compliance Fincen Cybersecurity Money Laundering 52

PYMNTS

AUGUST 14, 2019

Cooperation in an environment that is rapidly advancing on many technological fronts was the theme when FinCEN Director Kenneth A. When it came to technology, Blanco was specifically interested in – and concerned about – two main areas. This includes offering sports betting through a mobile app.”.

Fincen 65

Fincen Financial Crimes Crime Suspicious Activity Report (SAR) 65

FICO

DECEMBER 15, 2020

BSA/AML Reforms Are on their Way - Even With a Looming Presidential Veto. The legislation includes nearly 200 pages of the most significant reforms to the Bank Secrecy Act (BSA) and anti-money laundering (AML) laws since the USA PATRIOT Act of 2001. Even by Washington standards, this bill is massive topping 4,500 pages.

BSA 52

BSA Suspicious Activity Report (SAR) Financial Inclusion AML 52

FICO

DECEMBER 19, 2018

This will lead to a favorable development for consumers who opt-in and businesses that utilize technology like FICO’s Customer Communication Services to communicate important information to their customers via their cellphones. AML/BSA Reform Talks Will Intensify but Meaningful Changes Will Have to Wait.

BSA 40

BSA Fincen Suspicious Activity Report (SAR) SARS 40