Your Virtual Credit Manager

AUGUST 27, 2024

This should be assessed in respect to the level of exposure your customer, including related entities, presents to your entire AR portfolio as well as in relation to their peer group. Ensure the account meets your cybersecurity requirements. Don’t limit your assessment of customer risk to the present moment.

Accounts Receivable (AR) 100

Accounts Receivable (AR) Default Credit and Collections Cybersecurity 100

Abrigo

AUGUST 5, 2024

When a check is presented for payment, a visual inspection can often reveal suspicious checks before your financial institution incurs a loss. Alterations : Alterations are a common tactic in check fraud. Any signs of tampering, like altered, eradicated, or erased information, suggest the check might be counterfeit.

Credit Unions 78

Credit Unions CECL Cybersecurity Credit Risk 78

Abrigo

JANUARY 4, 2023

Business, government, or job impersonation scams: In a business, government, or job impersonation scheme, the perpetrator presents themselves as a trustworthy online source, such as Amazon, FedEx, or a user’s bank, and convince users to send them funds by buying crypto. Financial Cybersecurity. Financial Cybersecurity.

Cybersecurity 78

Cybersecurity Credit Unions Transactions Credit and Collections 78

Abrigo

JANUARY 8, 2020

Presented with the same unlabeled ‘test’ data in the second example above, the system should be able to categorize the ‘ducks’ vs. ‘not ducks.’ Financial Cybersecurity. The system would apply the function(s) and return data categorized as ‘ducks’ and ‘not ducks.’ It just would not be able to label the output. Artificial Intelligence.

Cybersecurity 78

Cybersecurity Transactions 78

Abrigo

APRIL 25, 2023

If pushback occurs, consider creating a process for departments to make a case for maintaining the relationship to present to executive leadership (such as the board and BSA officer) outlining why the benefits of keeping the relationship outweigh the AML/CFT risks.

Cybersecurity 78

Cybersecurity Credit Unions Transactions 78

Due

AUGUST 3, 2023

The allure of potentially high returns has enticed risk-tolerant investors to explore this dynamic market, eager to seize opportunities presented by Bitcoin’s price volatility. Being a digital asset, Bitcoin is susceptible to hacking attempts, scams, and other cybersecurity threats.

Cybersecurity 98

Cybersecurity Transactions 98

SAP Credit Management

SEPTEMBER 7, 2023

SAP today published Assessing the Security of Large Language Models – Exploring vulnerabilities, threats, and potential malicious use cases for generative AI as presented by the rapid proliferation of LLMs. This brochure by SAP’s Security Research team has been circulating internally but we thought it valuable to share publicly.

Cybersecurity 185

Cybersecurity 185

RMAi Blog

MARCH 14, 2023

The Importance of Cyber Insurance and Cybersecurity Register now for our April 13th webinar on cybersecurity & cyber insurance. Our presenters will take a deep dive into the nuances of cyber insurance sub limits, requirements, regulatory hurdles and more. Read more about the Legislative Fund here.

Collector 100

Collector Law Firms Credit and Collections Debt Collections 100

Abrigo

DECEMBER 7, 2021

Financial Cybersecurity. Financial Cybersecurity. If the institution has a history of violations, particularly repeat findings, the risk of the financial institution should be increased in the risk assessment. Fraud Prevention. Fraud Trends. How to Conduct an Exam-Proof BSA/AML Risk Assessment. Learn More. Fraud Prevention.

Cybersecurity 78

Cybersecurity Credit Unions Transactions Credit and Collections 78

Abrigo

MARCH 31, 2023

This means measuring the credit losses for newly recognized financial assets at origination and recording allowance for credit losses to present the net amount expected to be collected on the balance sheet. Some credit unions discussed the expected effects of CECL adoption in 2023 in a separate section of their plans.

Credit Unions 78

Credit Unions CECL Credit Risk Credit and Collections 78

Abrigo

MARCH 7, 2022

Regulators want to see enhanced due diligence (EDD) on those NBFIs that present a higher risk to the institution, such as money services businesses and other non-depository institutions requiring AML/BSA programs. Financial Cybersecurity. Financial Cybersecurity. Card Fraud. Customer Due Diligence. Fraud Prevention. Learn More.

Credit Unions 78

Credit Unions Cybersecurity Transactions 78

Abrigo

MARCH 24, 2020

Relaxed Controls : Experienced fraudsters expect financial and other organizations to relax anti-fraud controls to support their customers in this period of emergency, presenting the opportunity to execute fraud schemes tailored to take advantage of such letup. Financial Cybersecurity. Artificial Intelligence. BSA Software. Learn More.

Cybersecurity 60

Cybersecurity Transactions 60

Abrigo

MARCH 24, 2023

If the credit union has a history of violations, particularly repeat findings, the risk of the credit union should be increased in the risk assessment. Suppose the board of directors has been adequately apprised of the audit or exam outcomes, and repeat violations occur. You might also like this resource , "BSA examination prep checklist."

Credit Unions 78

Credit Unions Cybersecurity Credit and Collections Transactions 78

Abrigo

AUGUST 10, 2020

E xploitation of remote applications : t he transition to “ work from home ” remote access and virtual applications during the pandemic has presented new opportunities for bad actors to target businesses and individuals. . Financial Cybersecurity. Cybercriminals target remote platforms and processes. BSA Rules and Regulation.

Cybersecurity 78

Cybersecurity Transactions Credit Risk 78

Abrigo

OCTOBER 28, 2021

Once completed, the risk assessment should be something that a BSA professional would present to the Board, executive management, and other stakeholders such as IT security. The next step in improving an institution’s fight against fraud is to assess its infrastructure and cybersecurity program. Assess the IT Infrastructure.

Cybersecurity 78

Cybersecurity 78

Gaviti

MAY 30, 2023

Third-party apps present fewer risks than an entire company does, but there are risks all the same. Choose software providers with strong encryption and other critical cybersecurity practices that protect sensitive data. Third-party apps introduce risks.

Credit and Collections 98

Credit and Collections Cybersecurity Bankruptcy 98

Abrigo

FEBRUARY 8, 2024

While compassion is essential, exercise caution if someone consistently presents stories that seem too tragic to be true. Never share personally identifiable information with someone you've just met. Be skeptical of sob stories : Scammers often use heartbreaking tales to elicit sympathy. gov or calling 1-800-CALL-FBI (225-5324).

Cybersecurity 88

Cybersecurity Transactions 88

Abrigo

APRIL 30, 2020

Present-value recovery for the financial institution can inform an argument that the new terms do not represent a concession. Financial Cybersecurity. Artificial Intelligence. BSA Software. FinCEN Strengthens Commitment to Digital Innovation. Learn More. Artificial Intelligence. BSA Software. Artificial Intelligence in BSA. Learn More.

Cybersecurity 78

Cybersecurity Credit Unions Credit Risk Small Businesses 78

Fundera

JUNE 25, 2019

Cybersecurity and IT Consulting. There are other businesses that crawl through sites like eBay to find cool, unique, interesting objects, then present them in compelling ways. Cybersecurity and IT Consulting. Affiliate Marketing. Internet Domain Selling. Accounting. Telemarketing. Online Personal Assistant. Data Entry.

Cybersecurity 92

Cybersecurity Deductions Small Businesses 92

Biz2X

OCTOBER 8, 2024

Reaching out to new or existing clients at a time when entrepreneurs are already reviewing their financial statements presents a growth opportunity for banks that can offer additional funding or better loan terms through refinancing. Lenders must be sure to consider data privacy when using AI by investing in enhanced cybersecurity methods.

Cybersecurity 52

Cybersecurity Credit and Collections Deductions Small Businesses 52

Abrigo

AUGUST 22, 2022

Criminals send a fake or phishing email to a member of the finance team at a corporation either pretending to be a high-level executive or presenting a fake invoice. Financial Cybersecurity. Business Email Compromise: According to AFP’s survey, 61% of all BEC scams targeted check fraud. Fraud Prevention. Fraud Trends. Learn More.

CECL 78

CECL Cybersecurity Transactions Credit Risk 78

Due

AUGUST 31, 2023

Data visualization brings you a comprehensive solution, maximizing visual engagement through the appropriate presentation. The intrinsic relationships become more apparent when you present data visually. Well-presented visuals simplify complex concepts, making financial data easily ingestible by everyone.

Dashboards 59

Dashboards Credit and Collections Cybersecurity Insurance Companies 59

Abrigo

JULY 10, 2023

The rise of AI Understanding AI fraud schemes Integrating artificial intelligence (AI) presents promising opportunities and daunting challenges in today's ever-evolving world of financial transactions and digital advancements. Takeaway 3 Inform your customers of the latest AI fraud trends and give them best practices to avoid it.

Credit Unions 60

Credit Unions Cybersecurity Credit and Collections Transactions 60

Abrigo

APRIL 12, 2016

The system of goals, objectives, policies, controls, values and behaviors present in an organization that influence risk decisions. Operational problems in BSA/ AML, information technology and cybersecurity 12. Risk management culture What exactly is a risk management culture? Poor operating results 10.

Cybersecurity 60

Cybersecurity Credit Risk 60

Abrigo

AUGUST 10, 2020

E xploitation of remote applications : t he transition to “ work from home ” remote access and virtual applications during the pandemic has presented new opportunities for bad actors to target businesses and individuals. . Cybercriminals target remote platforms and processes.

Cybersecurity 78

Cybersecurity Transactions 78

Abrigo

JULY 14, 2023

emailing, uploading to other documents, creating pdfs, and presentation features that allow for direct presentation to management and board groups)? Does the solution provide access to peer and industry data for creating visual comparisons and providing loan decisioning insights?

Credit Unions 78

Credit Unions CECL Dashboards Revenue Recognition 78

Due

MARCH 6, 2024

Speakers from Citibank, Revolut, Lloyds Banking Group, 11:FS, and Battery Ventures will also be present, as will representatives from London Politica. Amid increasing threats, how can proactive cybersecurity be provided? Over 60 presentations from 70-plus experts will provide actionable, timely advice.

Cybersecurity 52

Cybersecurity Law Firms Accounting Firms Small Businesses 52

Abrigo

JANUARY 30, 2024

The programming is top-notch, from big picture presentations such as the economic outlook to hot topics like CECL and the 1071 rule,” said the Senior Vice President of a nonprofit Community Development Financial Institution in the Southeastern U.S.

CECL 78

CECL Credit Unions Credit Risk Cybersecurity 78

Abrigo

OCTOBER 10, 2023

Looking out Applying the fraud triangle to your customers While these three points of the fraud triangle may not always be perfectly balanced, they're consistently present in cases of fraud. Conquer your BSA challenges with AML tips from this on-demand webinar.

Cybersecurity 78

Cybersecurity Credit Unions Transactions 78

Abrigo

FEBRUARY 25, 2022

As regulators get up to speed with new FFIEC Exam Manual updates, you may need to remind them that not all groups of customers present the same risk. published by Chainalysis, 55 percent of all cybersecurity crime is comprised of just 270 deposit addresses. According to a 2021 Crypto Crime Report ?

Credit Unions 78

Credit Unions Credit and Collections Cybersecurity 78

Due

SEPTEMBER 16, 2024

However, with the rise in popularity of digital payments, customers are presented with many fresh challenges and unknown factors. The Fight Against Cybercrime will continue in 2024 The rise in online transactions has presented both opportunities and challenges for businesses. trillion in 2024.

Cybersecurity 52

Cybersecurity Transactions 52

Fundera

NOVEMBER 28, 2016

Why and how can you prepare your small business’s cybersecurity ? Essentially, you’ll need to put time and energy into meeting the right people and presenting your business plan to fund managers of the appropriate SBICs. How does small business health care work ? Check out our extensive guide !). Hint: a lot.).

Small Businesses 102

Small Businesses Credit Scoring Cybersecurity Insurance Companies 102

Fundera

NOVEMBER 28, 2016

Why and how can you prepare your small business’s cybersecurity ? Essentially, you’ll need to put time and energy into meeting the right people and presenting your business plan to fund managers of the appropriate SBICs. How does small business health care work ? Check out our extensive guide !). Hint: a lot.).

Small Businesses 102

Small Businesses Credit Scoring Cybersecurity Insurance Companies 102

Due

AUGUST 30, 2024

As a college professor at Bentley University, a nationally recognized expert in scams, identity theft, and cybersecurity, and a lawyer, Steve Weisman has no stake in this industry. “The Truth About Buying Annuities” by Steve Weisman Tired of annuity sales pitches? This book is a straightforward guide to annuities.

Cybersecurity 52

Cybersecurity 52

Fundera

SEPTEMBER 16, 2018

Companies have started to hire more remote and contract workers , which presents coordination and quality control challenges. And with more data comes the added concern of cybersecurity. Traditionally, employees would work set hours at a company office and be supervised at all times. How much information is too much?

Cybersecurity 40

Cybersecurity 40

Due

JANUARY 18, 2024

Shift towards AI-driven solutions (late 2010s – present) The latest and most transformative phase is the shift towards AI-driven solutions. Benefits for SMBs and Professional Services Document automation presents many advantages for SMBs and various professional services like legal and financial sectors.

Credit and Collections 52

Credit and Collections Cybersecurity 52

Abrigo

OCTOBER 25, 2024

Helpful info for Cybersecurity Awareness Month Helping financial institutions mitigate AI-enhanced cybersecurity risks is the focus of a recent letter from the N.Y. This dual-edged nature of AI necessitates a comprehensive approach to cybersecurity. Department of Financial Services. Staying on top of fraud is a full-time job.

Cybersecurity 88

Cybersecurity Credit Unions Credit and Collections 88