PYMNTS

SEPTEMBER 21, 2020

billion transactions for potential suspicious activity and screened more than 157 million transactions for compliance with applicable sanctions requirements. As Standard Chartered noted to BuzzFeed in the wake of the FinCEN files report: "In 2019 we monitored more than 1.2

Banking 139

Banking Leverage Technology Compliance 139

PYMNTS

AUGUST 26, 2019

House Financial Services Committee Chair Maxine Waters met with government officials in Switzerland about Libra, and said she remained concerned about the viability of the currency, according to a report by Reuters. Facebook, which announced the currency in June, wants to get regulators on board with Libra so that it can move forward.

Currencies 58

Currencies Compliance Financial Systems Investments 58

CFO News Room

JANUARY 18, 2023

financial system, has been used mainly in the past against banks and other financial institutions and in most cases has forced the institution to close. WSJ | Risk and Compliance Journal. Our Morning Risk Report features insights and news on governance, risk and compliance. Concurrent with the U.S. Lisa Monaco.

Treasury 100

Treasury Compliance Financial Systems Finance 100

PYMNTS

NOVEMBER 10, 2020

Many consumers move to new countries to pursue economic opportunities, but adjusting to these locations also requires learning the ins and outs of new financial systems — a transition that can be filled with friction. customers to recipients in Asia and Europe.

Banking 86

Banking Compliance Currencies Financial Systems 86

PYMNTS

DECEMBER 29, 2020

Factors like security and compliance are considered as well as the platform’s goal of developing an “open financial system for the world. Ripple has countered that XRP is a currency, and therefore is not under the SEC’s jurisdiction, the Verge reported.

Compliance 67

Compliance Currencies Financial Systems Securities 67

PYMNTS

OCTOBER 13, 2020

The report also found that the fact that regulation is piecemeal and inconsistent across peer-to-peer exchanges and kiosks is detrimental to the safety and stability of the international financial system. The terrorist threat, in particular, represents what the report termed “the first raindrops of an oncoming storm.”

Compliance 82

Compliance Currencies Financial Systems Leverage 82

Global Finance

OCTOBER 11, 2024

trillion in extended credit and new capital for its consumer and institutional clients while moving $10 trillion in over 120 currencies daily. Industry leadership, advancements in digitalization and corporate citizenship also factored in. Throughout 2023, JPMorgan Chase raised $2.3

Banking 111

Banking Foreign Exchange Profit and Loss Finance 111

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. As a result, they’re also more susceptible to impacts like those described above.

Compliance 84

Compliance Banking Risk Management Currencies 84

PYMNTS

NOVEMBER 2, 2020

During phase one, VASPs will have to demonstrate their compliance with these standards, according to the release. The financial ministry expects to kick off phase two, regarding licensing requirements, in June 2021, the release stated. RBA expects to finish the project at the end of this year.

Banking 64

Banking Risk Management Compliance Currencies 64

PYMNTS

MAY 15, 2019

As he told Webster, “when you combine Earthport and Visa, we now stand in front of virtually 100 percent of the globe in terms of a reach equation,” with what he termed “bank-grade-type compliance and risk management in the operating structure provided by Visa’s network.”. Single Point Of Connection. That’s what we are driving [toward].

Treasury 74

Treasury B2C Financial Systems Banking 74

PYMNTS

AUGUST 23, 2019

Traki has been one of the early adopters of cryptocurrencies in Venezuela, which highlights its commitment to improve the traditional financial system,” Zac Cheah, co-founder and CEO of Pundi X, said in a press release. “We It is the first compliance alerts solution available across 15 cryptocurrencies.

Compliance 49

Compliance Currencies Financial Systems Sales 49

PYMNTS

JULY 26, 2017

Treasury’s Office of the Comptroller of the Currency (OCC) has again released its report on top risks facing banks, with its Spring 2017 analysis warning FIs that threats are coming from all angles. Noreika, acting Comptroller of the Currency, in a statement. Today, the federal banking system remains healthy,” he continued. “As

Banking 46

Banking Compliance Currencies Concentration 46

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 Some are worried that the fact that Libra could be tied to several national currencies means that Facebook is trying to avoid being under control from any particular country. .

Financial Systems 40

Financial Systems Currencies Compliance Banking 40

PYMNTS

JULY 18, 2017

In parallel, smaller institutions will benefit from industry-agreed standards and best practices in Know Your Customer compliance. The report uses aggregated data from SWIFT and analyzes correspondent banking activity to pinpoint potential areas risk for the purpose of KYC compliance and due diligence. This year, the U.S.

Compliance 40

Compliance Currencies Financial Systems Banking 40

PYMNTS

OCTOBER 19, 2016

Their investment strategies are also impacted by the issue of currency risks and inflation, both cited by about a fifth of survey respondents as a top macroeconomic concern. Low and negative interest rates have especially motivated these money managers to renew their investment strategies, the report noted.

Treasury 70

Treasury Prioritization Economics Leadership 70

PYMNTS

SEPTEMBER 11, 2019

Likewise, pilot programs that expose gaps in anti-money laundering compliance programs will not necessarily result in supervisory action with respect to that program,” El-Hindi said. FinCEN also wants to ensure that it is staying on top of regulations when it comes to non-banking financial institutions. “By

Compliance 46

Compliance Prioritization Currencies Financial Systems 46

PYMNTS

AUGUST 4, 2019

Cryptocurrency compliance company Elliptic has released the Elliptic Data Set, which aims to identify crypto transactions associated with money laundering. A big problem with compliance, in general, is false positives. However, the majority of the transactions, around 77 percent, remained unclassified. “A

Compliance 46

Compliance Currencies Financial Systems Startups 46

PYMNTS

OCTOBER 15, 2019

The association is meant to be a sort-of governing body for the currency, with each company previously pledging monetary support. We are concerned because key questions remain unanswered about the risks the project poses to consumers, regulated financial institutions, and the global financial system.

Compliance 48

Compliance Currencies Financial Systems 48

PYMNTS

JUNE 18, 2019

. “Data is scattered across supplier-relationship applications, ERP systems, financial systems and into production,” he explained. Deals can be made, money can flow faster, and organizations can promote compliance and ethical operations by having transparent supply chains.

Compliance 50

Compliance Securities Invoicing Currencies 50

PYMNTS

OCTOBER 10, 2016

They don’t so much like the difficulty in securing bitcoin vaults (as evidenced by the numerous and expensive hacks that seem to be endemic to bitcoin storage) and the simple fact that it is hard to incorporate digital currency systems into the highly regulated and compliance-focused environments that all large international banks exist in.

Currencies 60

Currencies Banking Advertising Compliance 60

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

SEPTEMBER 8, 2016

There are strict regulatory rules that prevent more money to be sent to a receiving institution than is needed, and Flywire manages that aspect of compliance, too, on behalf of the receiving institution. Being Prepared For What’s Next. “For us, it’s a competitive advantage,” Frere said.

Foreign Exchange 43

Foreign Exchange Currencies Valuation Accounting 43

CFO Thought Leader

OCTOBER 6, 2024

But, recently, we have found that the CFO and the CIO now recognize that they need to work more closely together to drive greater investment in the modernization of financial systems. The thing is, many of these constructs may involve different controllers, different currencies, and different regions of the world.

CFO 52

CFO Leadership Tax Planning Problem Solving 52

Michigan CFO

JUNE 14, 2022

Some financial regulatory agencies and laws regulate the activities of CFOs, Comptrollers, and Controllers to ensure good conduct. According to the Office of the Comptroller of the Currency (OCC) , the Truth in Lending Act (TILA) is a federal law that “protects against inaccurate and unfair credit billing credit card practices”.

General Ledger 40

General Ledger CFO Budgeting Accounts Payable 40

PYMNTS

OCTOBER 8, 2018

Banks have earned the trust of people and businesses because they keep the money stored within them safe and keep the integrity of our financial system intact. Without the ability to manage the currency risk of international payments, it’s hard to avoid the margin-eroding hits caused by that volatility. They do that very well.

B2B 76

B2B Banking Economics Securities 76

Barry Ritholtz

FEBRUARY 13, 2023

Tell us a little bit about what you do on Twitter and how was it getting that through legal and compliance? RIEDER: Well, first of all, anything I tweet goes through legal and compliance before it gets out there, first part. and what cross currency basis, et cetera, takes a while to assimilate at all. RIEDER: Thanks.

Mergers and Acquisitions (M&A) 59

Mergers and Acquisitions (M&A) Investments Marketing Education 59

PYMNTS

MAY 15, 2017

Its creator, the pseudonymous Satoshi Nakamoto, gave it all of the qualities of cash, but in a digital format: peer-to-peer transfer of a currency in the absence of any intermediary that is pretty much anonymous — only wallet IDs are shared. There’s only so many things you can buy on the dark web though.

Currencies 62

Currencies Math Startups Technology 62

PYMNTS

JANUARY 21, 2021

Janet Yellen, President Joe Biden's nominee for Treasury Secretary, is expected to take a hard stance on cryptocurrencies, calling digital currency a “particular concern” that is used “mainly for illicit financing,” Arstechnica and other news outlets reported on Thursday (Jan. These are very real risks.”.

Treasury 112

Treasury Concentration Credit Risk Compliance 112

Global Finance

SEPTEMBER 5, 2024

Other technological innovations from these labs address everything from improving anti-money laundering (AML) compliance and easing underwriting processes to speeding up customer onboarding and improving cash management for small and midsize enterprise (SME) clients. One innovation that arose from the lab was Financial Manager Ailos 360°.

Startups 52

Startups Banking Finance Technology 52

PYMNTS

OCTOBER 5, 2020

The House committee held a hearing on the concept after Acting Comptroller of the Currency Brian Brooks put forward the concept of a new special purpose banking charter for payments firms. The banking industry, however, is against the idea. “We European Commission To Appeal Apple State Aid Decision.

Banking 91

Banking Compliance Advertising Tax Planning 91

PYMNTS

OCTOBER 7, 2019

Questions about regulatory compliance related to money laundering were reported to be the reason for PayPal’s exit. billion people with bank accounts and digital wallets, enabling them to accept payments in a familiar currency. These are the same 1.5 billion people that Libra said at launch it intended to help.

Currencies 79

Currencies Advertising Construction Financial Systems 79

Onplan

NOVEMBER 30, 2022

It also offers convenient multi-currency management. Because it’s from the same vendor, Adaptive works best with Workday Financial Management and Human Capital Management. While it’s an excellent modeling tool for users that already use Workday for all their financial systems, Adaptive can cause friction for those that don’t.

Financial Planning and Analysis (FP&A) 52

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

PYMNTS

JANUARY 15, 2018

The excitement kicked off on Monday with word that South Korea — one of the world’s busiest and priciest bitcoin trading hubs — was on the verge of banning digital currency exchanges. The Community Reinvestment Act (CRA) was first enacted in 1977 to make it easier for low-income and minority borrowers to access the financial system.

Currencies 44

Currencies Compliance Treasury Banking 44

PYMNTS

JANUARY 7, 2019

The lure of crypto as an alternative to fiat currency is intoxicating – “it’s just like the internet of money,” its advocates still profess – even in the face of the massive crypto bust that was one of the biggest stories of 2018. People, of course, love the hype of the big bang. It’s not always easy to do, and it requires constant vigilance.

Retail 82

Retail Leverage Numbers Sales 82

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