A new Bitcoin advisory issued by the Consumer Financial Protection Bureau should prompt financial institutions to talk with their banking customers about the risks associated with virtual currencies.
New guidance from FinCEN addresses know-your-customer concerns surrounding financial transactions linked to legal marijuana businesses. Anti-money-laundering expert Kevin Sullivan sorts through the advice.
Financial institutions will always be threatened by fraud. Security protocols, fraud and AML prevention and detection techniques must continue to keep pace with potential criminal activity. With millions of dollars and reputational risk at stake, the imperative is there in order to achieve peace of mind.
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Another organized cyber-attack and subsequent cash-out scheme illustrates increasing risks to the U.S. payments chain. One fraud expert says this trend "is of grave concern" for banking institutions and their accountholders.
Authorities have shuttered a digital currency service allegedly used to launder funds stolen in a $45 million ATM cash-out scheme exposed earlier this month. Learn why experts say lax laws paved the way for the fraud.
Why are ATM cash-out schemes expected to increase - especially in the U.S.? John Buzzard of FICO's Card Alert Service offers insights, based on federal investigators' most recent global fraud bust.
How could 18 people pull off an alleged international bank fraud scheme involving 25,000 fake cards and $200 million in losses? One expert tells how banks can bridge the gaps that hide such scams.
HSBC and SCB will pay millions in penalties for violating anti-money-laundering laws. Experts say the penalties are justified, but question the deterrent effect.
According to our new survey, more than half of banking institutions expect an increase in fraud-fighting resources this year. But how are they investing those resources? The answers may surprise you.
Four international crime rings pose significant threats to U.S. banks and credit unions. Learn how a new government initiative may open doors to help institutions change how they fight fraud.
The FDIC has issued revised guidance describing potential risks associated with relationships to third-party payment processors. What are regulators' new risk-management expectations of banks?
Nearly four years ago, Capital One Bank set out to integrate its fraud detection and anti-money laundering platforms. Today, the institution has some impressive results and savings to share.
Since the summer of 2009, financial institutions and their corporate customers have been defrauded by increased incidents of account takeover. These incidents have pitted banks and customers against one another in court, and they were a key impetus behind the release of the new FFIEC Authentication Guidance. So, how...
BSA and AML compliance are priorities that never get pushed aside. So what steps are banks and credit unions taking to ensure they comply with regulators' demands?
Ensuring compliance with BSA and AML mandates is always a priority for federal examiners, and that makes it a priority for banks, says Nancy O'Donnell of Thomaston Savings Bank.
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