PYMNTS

DECEMBER 29, 2020

Securities and Exchange Commission ( SEC ) has prompted Coinbase to suspend all XRP trading. Factors like security and compliance are considered as well as the platform’s goal of developing an “open financial system for the world. billion “through an unregistered, ongoing digital asset securities offering.”.

Compliance 67

Compliance Currencies Financial Systems Securities 67

PYMNTS

JUNE 23, 2016

The technology is typically used by financial institutions to help prevent fraud when customers open a new bank account or when issued credit or debit cards. But it can also be utilized in applications across fraud prevention and compliance to help businesses adhere to anti-money laundering (AML) regulations.

Investments 42

Investments Securities Compliance Financial Systems 42

VCFO

AUGUST 16, 2023

Money Laundering Prevalence and Practices When bad actors possess large sums of cash that they want to place into the financial system without raising flags, money laundering techniques such as “structuring” are used. Collectively, these efforts are helping them weather the storm and emerge on the other side in a stronger position.

Compliance 87

Compliance Banking Risk Management Currencies 87

PYMNTS

AUGUST 14, 2019

More broadly, however, Blanco’s theme was the interconnectedness of the financial system – and how diligence and transparency is the key to combating money laundering and other financial crimes in the U.S. FinCen, he noted, has offered various forms of guidance to casinos for meeting their expanding compliance obligations.

Compliance 65

Compliance Currencies Financial Systems Budgeting 65

Spreadym

OCTOBER 20, 2023

A multi-currency account reporting refers to the financial reporting and tracking of transactions in multiple currencies within a single account or financial system. Tax Reporting: For businesses operating internationally, multi-currency account reporting can help simplify tax reporting and compliance.

Currencies 52

Currencies Accounting Risk Management Compliance 52

PYMNTS

JULY 5, 2019

The bank is worried that the currency will be difficult to regulate and that it could potentially harm the existing financial system. “It Also, more demand for government securities because of Libra could cause interest rates to dip, and that could also potentially hurt the country’s economy. monetary policy and the dollar.

Financial Systems 40

Financial Systems Currencies Compliance Banking 40

PYMNTS

JUNE 25, 2020

The new FIS/FICO product, the FIS AML Compliance Manager, features FICO ® Falcon ® X “decision management technology,” the companies said. The aim of the new product is to provide a single AML platform that FIs can use to both detect flows of illegal cash and stay in compliance with federal AML regulations.

Compliance 58

Compliance Treasury Financial Systems Numbers 58

PYMNTS

DECEMBER 11, 2020

will stop human traffickers, terrorists and other global criminals in their tracks when they attempt to infiltrate the financial system,” said BPI President and CEO Greg Baer. In a statement provided to PYMNTS, the Bank Policy Institute (BPI) said that “this legislation warns the world that the U.S.

Compliance 105

Compliance Financial Systems Banking Securities 105

PYMNTS

JANUARY 15, 2021

These violations, said FinCEN, “caused millions of dollars in suspicious transactions to go unreported in a timely and accurate manner, including proceeds connected to organized crime, tax evasion, fraud, and other financial crimes laundered through the bank into the U.S. financial system.”.

Banking 107

Banking Compliance Currencies Financial Systems 107

PYMNTS

OCTOBER 13, 2020

Across the globe, terrorists and criminals are leveraging cryptos in what is gearing up to be a significant national security threat to the United States. That’s according to the U.S. The terrorist threat, in particular, represents what the report termed “the first raindrops of an oncoming storm.” Cryptos also help bad actors avoid sanctions.

Compliance 82

Compliance Currencies Financial Systems Leverage 82

PYMNTS

SEPTEMBER 11, 2019

From FinCEN’s perspective, our BSA/AML system is good, but it can always be improved, and we see great opportunities in working with industry on innovations that can help better detect and safeguard against illicit activity,” he said. “In financial system by potential findings of non-compliance,” he said.

Compliance 46

Compliance Prioritization Currencies Financial Systems 46

PYMNTS

DECEMBER 28, 2020

Published reports indicate that China’s central bank and banking, securities and foreign-exchange regulators summoned Ant Group executives this past weekend to discuss official concerns about the firm. Reuters quoted central bank Vice Gov. Read More On Big Tech: Five Ways The Connected Economy And Big Tech Helped U.S.

Restructuring 67

Restructuring Foreign Exchange Compliance Financial Systems 67

PYMNTS

SEPTEMBER 17, 2020

Whether that's a lack of security if a piece of paper falls into the wrong hands, or simply the pain of having to manually store a document or capture its data, paper is far from the most efficient way to do business. "A Physical documents introduce a trove of friction points for the enterprise. Take the electronic invoice, for example.

Accounts Payable 63

Accounts Payable Compliance Invoicing Finance 63

Future CFO

NOVEMBER 15, 2023

Integration and Automation CFOs should integrate spreadsheets with other financial systems and applications to ensure seamless data flow and reduce the risk of errors during manual data transfers. This might involve implementing automated compliance checks and utilising tools that provide real-time alerts for potential risks.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Leverage Communication Compliance 52

Spreadym

MAY 15, 2023

Key features Collaborative workflow Total data and methodology compliance Agility of analysis methods Single source data management Scenario modelling In-depth analysis and planning Pricing Upon request Vena Vena is a complex planning platform that helps merge corporate workflow into one process.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Budgeting Forecasting Financial Modeling 52

PYMNTS

FEBRUARY 24, 2020

Also, data has been one of the levers by which the Chinese government has continued to try to formalize the financial system within China and put pressure on shadow banking and other nontraditional financial institutions and activity.”. Confronting the Chinese Privacy Myth . he remarked.

Compliance 64

Compliance Banking Securities Financial Data 64

PYMNTS

SEPTEMBER 24, 2019

These are attempts, and, often because of diligent work by bank compliance officers, do not represent actual losses. financial system have had some information about themselves … compromised at some point.”. “FinCEN is seeing around 5,000 account takeover reports each month involving approximately $350 million,” he said.

Compliance 71

Compliance Financial Systems Accounting Securities 71

PYMNTS

DECEMBER 4, 2018

3) that urged banks to study and implement “where appropriate” methods that would bring innovate approaches to anti-money laundering efforts and Bank Secrecy Act compliance. “Likewise, pilot programs that expose gaps in a BSA/AML compliance program will not necessarily result in supervisory action with respect to that program.”.

Compliance 64

Compliance Currencies Financial Systems Banking 64

PYMNTS

SEPTEMBER 25, 2018

. “Across our business, we strive to facilitate greater financial inclusion in emerging markets, and identity is a central component,” said EmTech’s Chief Commercial Officer Mitch Davis. “Over one billion people worldwide cannot officially prove their identity.

Technology 66

Technology Investments Compliance Financial Systems 66

PYMNTS

JULY 1, 2019

Unfortunately, FIs are often caught between balancing more stringent security tools and offering the seamless experiences consumers crave. As such, FIs must seek more innovative authentication procedures that take less time and draw less ire than weak password and PIN systems. Biometrics and the Benefits for Security .

Banking 75

Banking Securities Compliance Communication 75

CFO Thought Leader

MAY 21, 2023

Very broadly, our mission is to build a better financial system for the individual. In order to do so, we had to utilize a rather esoteric part of the securities laws called Regulation A, which allows you to raise up to $75 million a year from unaccredited investors. Staloch: Fundrise is a technology company.

CFO 52

CFO Investments Accounting Accounting Standards 52

PYMNTS

NOVEMBER 30, 2020

WatchDOG AML is a “holistic” anti-money laundering ( AML ) solution that works to prevent financial crime by “identifying suspicious activity in real time with an enterprise transaction monitoring system,” the companies said in a statement on Monday (Nov.

Risk Management 63

Risk Management Compliance Financial Systems Leverage 63

PYMNTS

JUNE 18, 2019

Yet, as scoutbee Founder and Managing Director Lee Galbraith explained in a recent interview with PYMNTS, product quality and prices are only the tip of the iceberg when it comes to strategic vendor sourcing, and what it means for corporate security, digital transformation journeys and bottom lines.

Compliance 50

Compliance Securities Invoicing Currencies 50

Future CFO

SEPTEMBER 10, 2020

trillion dollars in annual losses, said SWIFT and BAE Systems Applied Intelligence which recently released together a report titled Follow the Money. . Activities by cyber attackers and gangs across the world are estimated to result in more than US$1.5 Experience.

Compliance 40

Compliance Advertising Financial Systems Securities 40

PYMNTS

JULY 21, 2020

The European Union’s financial authorities are monitoring how the pandemic may be affecting banks’ and FinTechs’ compliance with rules such as the General Data Protection Regulation (GDPR) and the revised Payment Services Directive (PSD2), for example.

Banking 91

Banking Financial Systems Planning Compliance 91

PYMNTS

OCTOBER 25, 2016

25) a partnership to integrate its Trusted Digital Identity online fraud prevention and compliance automation platform with Neoway’s Advanced Data solution. IdentityMind Global announced Tuesday (Oct.

Compliance 72

Compliance Financial Systems Banking Technology 72

PYMNTS

SEPTEMBER 23, 2019

. “Criminals have exploited the rigid infrastructure that underpins our global financial system. ” TJ Horan, FICO’s vice president of fraud and compliance products, said the product is something regulators across the globe have been seeking.

Compliance 52

Compliance Leverage Financial Systems Finance 52

PYMNTS

MAY 26, 2017

In addition to quicker transactions and a higher rate of quality data, many in the finance world have shown concerns for its ability to truly secure monetary interactions. A new decentralized financial system made possible with cryptocurrencies could be much simpler by removing layers of intermediation.

Financial Systems 46

Financial Systems Benchmarking Finance Technology 46

PYMNTS

JULY 26, 2017

“Today, the federal banking system remains healthy,” he continued. “As As outlined in the report, however, the OCC again identifies issues related to strategic, credit, operational and compliance risks as top concerns.”. Compliance. As is often the case with banks, risks of non-compliance remain high, the OCC noted.

Banking 46

Banking Compliance Currencies Concentration 46

PYMNTS

NOVEMBER 20, 2019

“Serious and systemic non-compliance leaves our financial system open to being exploited by criminals,” Nicole Rose, chief executive for AUSTRAC, told the news outlet Xinhuanet.com. .

Financial Systems 49

Financial Systems Compliance Banking Technology 49

PYMNTS

MARCH 26, 2018

A press release issued Friday (March 23) said Candex secured the funding from Edenred Capital Partners, Partech Ventures, Advisors.fund, Camp One Ventures, NFX, Tekton Ventures, Big Sur Ventures and angel investor Mark Goines. Candex facilitates vendor payments for its corporate users that take advantage of gig economy services. “It

Accounts Payable 43

Accounts Payable Vendor Management B2B Leadership 43

PYMNTS

JULY 11, 2019

“There has to be a way to identify who is transacting within the system,” Vaughan explained. The identity component of this is probably not being driven by nefarious motives — it’s being driven by the need for having regulatory compliance in multiple jurisdictions, not an identity that is tied to any one particular government.”.

Financial Data 49

Financial Data Securities Auditing Compliance 49

PYMNTS

JUNE 20, 2019

Carney’s comments were part of a larger speech that discussed a major review of Britain’s future financial system, with the aim of cutting costs for customers and making it easier for smaller businesses to borrow money, as well as reducing compliance costs for banks. “To remain a dominant player we in the U.K.

Compliance 46

Compliance Financial Systems Banking Finance 46

PYMNTS

MARCH 27, 2019

Financial firms, fertilizer, beverage, and other mainstream companies are calling on Congress to enable pot companies to have access to banks. Because of the cash involved, many pot companies have to spend thousands of dollars to hire private security. The bill coming to a vote in the House was drafted by Rep.

Banking 51

Banking Compliance Financial Systems Securities 51

PYMNTS

MAY 29, 2019

“We’ve had 10 years of enormous regulation,” UBS Group Chief Compliance and Governance Officer Markus Ronner said, according to the report. “That has tied up enormous resources.”

Finance 43

Finance Compliance Banking Risk Management 43

PYMNTS

FEBRUARY 14, 2019

The story is pretty well-known by now, but the situation seems to become more tense as time passes without resolution of the barriers that prevent most legal suppliers of medicinal and recreational cannabis from accessing the country’s legitimate financial system. Two of the speakers at the hearing — Colorado Rep.

Banking 92

Banking Compliance Auditing Accounting 92

PYMNTS

JANUARY 5, 2018

An inquiry by the Department of Financial Services found that for longer than 10 years, Western Union failed to create and maintain an anti-money laundering compliance program to deter, detect and report any money laundering via its payment network. The DFS noted that Western Union has a history of compliance issues.

Compliance 46

Compliance Financial Systems Banking Securities 46