Abrigo

APRIL 25, 2023

Some institutions draw a hard line at activities related to human trafficking or smuggling, transactions involving certain countries the institution has deemed high-risk, activity indicative of terrorist financing, or some other risky scenario. If there is suspicious activity present, SAR reporting should continue accordingly.

Cybersecurity 78

Cybersecurity Credit Unions Transactions 78

Abrigo

DECEMBER 7, 2021

However, the institution has automated software that can monitor this activity, scan the wires for OFAC violations at the time of the transaction, validate wire transactions in their AML software daily, and provides a quarterly process to review all international wires.

Cybersecurity 78

Cybersecurity Credit Unions Transactions Credit and Collections 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

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

MARCH 7, 2022

The reputational risk alone is significant to your institution if you let a sanctioned Russian transaction fall through the cracks. Each potentially suspicious transaction must be analyzed. Financial Cybersecurity. Financial Cybersecurity. Using "known customer" to justify these decisions is insufficient. Shifting Focus.

Credit Unions 78

Credit Unions Cybersecurity Transactions 78

Abrigo

JANUARY 8, 2020

Some BSA professionals are excited for the promise of added security around transaction monitoring and fraud, while others are worried about the lack of security it provides their jobs. Presented with the same unlabeled ‘test’ data in the second example above, the system should be able to categorize the ‘ducks’ vs. ‘not ducks.’

Cybersecurity 78

Cybersecurity Transactions 78

Abrigo

MARCH 24, 2020

Digital Transactions : The lockdown is forcing people to conduct financial transactions digitally through online banking and payments, even those who may otherwise be less disposed (e.g., Financial Cybersecurity. the elderly). Artificial Intelligence. BSA Software. FinCEN Strengthens Commitment to Digital Innovation. Learn More.

Cybersecurity 60

Cybersecurity Transactions 60

Abrigo

AUGUST 22, 2022

billion in fraudulent transactions, a staggering 47% of which were check fraud. One would think as technology improves so would the safeguarding features around monetary transactions. Financial Cybersecurity. Fraudsters don't need to make a counterfeit version if they have the real thing.) Fraud Prevention. Fraud Trends.

Cybersecurity 78

Cybersecurity CECL 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

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. 5 Ways Your Transaction Monitoring System Can Detect COVID-19 Related Fraud.

Cybersecurity 78

Cybersecurity Transactions Credit Risk 78

Due

NOVEMBER 7, 2024

Although crypto can achieve impressive gains, its volatility presents an entirely different risk profile—one that may not be suitable for most retirees. Choosing the Right Custodial Services Secure custody of crypto assets is essential for retirees, who may be more vulnerable to cybersecurity risks.

Cybersecurity 52

Cybersecurity Transactions 52

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. The customer probably won't give away much information if they try to do the transaction somewhere else.

Cybersecurity 78

Cybersecurity Credit Unions Transactions 78

Abrigo

SEPTEMBER 18, 2020

Exploitation of remote applications: the 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. solicitation to work from home for an unrealistic salary). BSA Rules and Regulation. Card Fraud.

Electronic Funds Transfer 78

Electronic Funds Transfer Cybersecurity Transactions Credit Risk 78

Abrigo

JULY 14, 2023

core vs. non-core, migration of deposits from core to transactional accounts, any trend in movement of funds out of the institution, top 10-20 depositors and associated volatility, borrowers without deposit relationships, etc.). So, in this situation, the institution will add reports showing the makeup of deposits (e.g.,

Credit Unions 78

Credit Unions CECL Dashboards Revenue Recognition 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. . Cybercriminals target remote platforms and processes.

Cybersecurity 78

Cybersecurity Transactions 78

Lendio

JANUARY 11, 2023

Just note that the food can’t be lavish (sorry, lobster lovers)—it needs to be necessary to the ordinary course of your business, and the owner or an employee needs to be present. The number of transactions you have in this category will depend on the type of business you own. Yes, meals can be deducted in many business situations.

Deductions 52

Deductions Cybersecurity Small Businesses Transactions 52

Abrigo

APRIL 8, 2020

If a strong BSA program is in place and includes robust transaction monitoring, an institution should onboard these new loans with little additional BSA risk. Financial Cybersecurity. BSA Software. FinCEN Strengthens Commitment to Digital Innovation. Learn More. Artificial Intelligence. BSA Software. Learn More. BSA Software.

Credit Unions 78

Credit Unions Credit and Collections Cybersecurity Small Businesses 78

RMAi Blog

MARCH 14, 2023

New York SB 4750 – This bill would expand the scope of the 2021 Consumer Credit Fairness Act (CCFA) by replacing the term “consumer credit transaction” with “consumer debt” and thereby bringing debt such as medical and utility under the scope of the CCFA’s litigation requirements.

Collector 130

Collector Law Firms Credit and Collections Debt Collections 130