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. This minimizes fraud risk and helps maintain the integrity of financial transactions. Alterations : Alterations are a common tactic in check fraud.

Credit Unions 78

Credit Unions CECL Cybersecurity Credit Risk 78

Abrigo

MARCH 24, 2023

However, the credit union 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/CFT software daily, and provides a quarterly process to review all international wires. plying any management or risk mitigation tools.

Credit Unions 78

Credit Unions Cybersecurity Credit and Collections Transactions 78

Abrigo

FEBRUARY 8, 2024

For financial institutions, identifying warning signs is critical to detecting fraud before the victim experiences devastating losses: Transaction monitoring: Implement transaction monitoring software and fraud detection software that detects patterns associated with romance scams, triggering alerts for further investigation.

Cybersecurity 88

Cybersecurity Transactions 88

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 100

Collector Law Firms Credit and Collections Debt Collections 100

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

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

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

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.

CECL 78

CECL Cybersecurity Transactions Credit Risk 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

Due

SEPTEMBER 16, 2024

Statistics reveal that the total transaction value in digital payments is likely to reach $11.55 However, with the rise in popularity of digital payments, customers are presented with many fresh challenges and unknown factors. In 2024, several key digital payment trends are shaping the future of transactions. trillion in 2024.

Cybersecurity 52

Cybersecurity Transactions 52

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

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

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

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

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

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

Waystar

MARCH 24, 2025

Investing in AI + GenAI capabilities to fuel efficiency + cost savings In the healthcare revenue cycle, AI and generative AI (GenAI) are no longer just buzzwords they are critical tools to maximize efficiency amid obstacles like rising transaction volumes and increasing costs. After the most significant and consequential data breach in U.S.

Cybersecurity 100

Cybersecurity Transactions 100

Abrigo

JANUARY 31, 2025

Be prepared and diligent in any crypto investment or other transaction. A hidden transaction trail: Crypto transactions' decentralized, often anonymous nature makes it easier for fraudsters to stay concealed, and the growing popularity of digital assets creates an ideal breeding ground for deception.

Transactions 78

Transactions Actual Loss Cybersecurity 78

Emagia

FEBRUARY 14, 2025

Payment Scheduling : Customers can schedule payments in advance, ensuring timely transactions and improved cash flow management. Retail : Handles high transaction volumes and manages customer payment plans. Real-Time Payment Tracking : Businesses can monitor payment statuses in real-time, allowing for prompt action on overdue accounts.

Cybersecurity 40

Cybersecurity Transactions High-Risk Accounts Insurance Companies 40

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

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