PYMNTS

JULY 1, 2020

The Office of the Comptroller of the Currency (OCC) said in a report this week that it will examine how the coronavirus is impacting compliance by financial institutions (FIs). banking system. “I The pandemic has heightened risks for pretty much everyone, including U.S.

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Compliance Banking Currencies Financial Systems 66

CFO Plans

OCTOBER 9, 2024

As businesses expand, especially within the financial services sector, the intricacies of tax compliance can become a formidable challenge. The stakes are high, with severe repercussions for non-compliance, but these challenges also present immense opportunities for optimization.

Compliance 52

Compliance Tax Planning CFO Concentration 52

PYMNTS

MARCH 5, 2019

The specific reasons for the non-compliance was not released. Last year, the Indian financial system was affected by a $2 billion fraud at Punjab National Bank (PNB), where business related to a billionaire jeweler and his uncle received unauthorized credit guarantees through SWIFT.

Compliance 56

Compliance Banking Auditing Financial Systems 56

Future CFO

SEPTEMBER 2, 2024

Compliance with regional regulations As organisations leverage AI for financial reporting and risk management, it is imperative to ensure compliance with varying regional regulations. Wahi suggests that organisations prioritise the alignment with local compliance requirements.

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Compliance Leverage Forecasting Risk Management 116

The Charity CFO

MAY 6, 2022

Your financial system must be in good working order before you even consider applying for federal funding. In fact, the government places very rigorous financial reporting requirements on organizations that receive federal funding. Sometimes you need to make an aggressive move to push your mission forward.

Nonprofit 119

Nonprofit Auditing Financial Systems CFO 119

Future CFO

DECEMBER 11, 2024

Sethi points out that while banks have significantly invested in upgrading legacy systems, the digital transformation process is still ongoing. He categorises these investments into "Run the bank," which focuses on maintaining day-to-day operations and regulatory compliance, and "Change the bank," which involves transformational initiatives.

Banking 52

Banking Risk Management Compliance Investments 52

PYMNTS

JANUARY 15, 2021

These violations, said FinCEN, “caused millions of dollars in suspicious transactions to go unreported in a timely and accurate manner, including proceeds connected to organized crime, tax evasion, fraud, and other financial crimes laundered through the bank into the U.S. financial system.”.

Banking 107

Banking Compliance Currencies Financial Systems 107

Bramasol

JULY 26, 2024

In this episode, we dive into five issues that are at the heart of optimizing Quote-to-Cash to Compliance with SAP Revenue Recognition and subscription management applications, including complex bundling scenarios. Closing and Reporting: How can we shorten our periodic closing cycles while assuring reporting and disclosure compliance?

SAP 79

SAP IFRS GAAP Compliance 79

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.

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Treasury Compliance Financial Systems Finance 100

PYMNTS

OCTOBER 25, 2016

25) a partnership to integrate its Trusted Digital Identity online fraud prevention and compliance automation platform with Neoway’s Advanced Data solution. IdentityMind Global announced Tuesday (Oct.

Compliance 72

Compliance Financial Systems Banking Technology 72

Future CFO

FEBRUARY 2, 2025

Charlie Cheah , managing director, Esker Asia , believes that CFOs and in a bigger context, the Office of the CFO in Asia, face several challenges when integrating AI into financial systems, given the region's diverse technological landscape. "In Regulatory Variations: APACs regulatory environment for AI is still evolving.

Accounts Payable 52

Accounts Payable Accounting Invoicing CFO 52

CFO Talks

MARCH 4, 2025

Regulatory Risks Are there new laws, taxes, or compliance requirements that could impact your business? Now imagine losing all your financial records! Thats why businesses are moving to cloud-based financial systems. AI-Driven Forecasting Predicts financial trends and suggests ways to save money.

Budgeting 52

Budgeting Forecasting Invoicing Sales 52

PYMNTS

AUGUST 14, 2019

More broadly, however, Blanco’s theme was the interconnectedness of the financial system – and how diligence and transparency is the key to combating money laundering and other financial crimes in the U.S. FinCen, he noted, has offered various forms of guidance to casinos for meeting their expanding compliance obligations.

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Compliance Currencies Financial Systems Securities 65

PYMNTS

JUNE 25, 2020

The new FIS/FICO product, the FIS AML Compliance Manager, features FICO ® Falcon ® X “decision management technology,” the companies said. The aim of the new product is to provide a single AML platform that FIs can use to both detect flows of illegal cash and stay in compliance with federal AML regulations.

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Compliance Treasury Financial Systems Numbers 58

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

CFO News

JUNE 21, 2024

RBI Governor Shaktikanta Das emphasized the importance of strong governance and resilient financial systems at the global conference on financial resilience.

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Compliance Risk Management Financial Systems 40

The Finance Weekly

MARCH 16, 2023

Additionally, changes in interest rates may occur as the central bank and other financial institutions work to stabilize the financial system, which could affect companies with variable rate debt or those planning to issue new debt.

Leadership 105

Leadership CFO Startups Compliance 105

CFO Plans

OCTOBER 15, 2024

Understanding the Complexities of Financial Regulation for Small Businesses Financial regulations are crafted to uphold the integrity and stability of the financial system. For small businesses, the challenge is unraveling these regulations and implementing effective compliance measures.

Compliance 52

Compliance CFO Startups Risk Management 52

PYMNTS

SEPTEMBER 25, 2018

. “Across our business, we strive to facilitate greater financial inclusion in emerging markets, and identity is a central component,” said EmTech’s Chief Commercial Officer Mitch Davis. “Over one billion people worldwide cannot officially prove their identity.

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Technology Investments Compliance Financial Systems 66

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. We take seriously any decision to change our customers’ access to one of those assets,” Grewal said. billion “through an unregistered, ongoing digital asset securities offering.”.

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Compliance Currencies Financial Systems Securities 67

PYMNTS

APRIL 22, 2020

“The customer would be considered a new customer at each location, and would have to go through the lengthy compliance processes multiple times,” Rosa recently told PYMNTS, “not to mention they usually have to visit the specific bank branch in person.” ” Exploring Alternatives. ”

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Currencies Advertising B2B Finance 96

PYMNTS

DECEMBER 3, 2020

Kofax's solutions, the release stated, help to boost the speed and ease of processing financial documents and data, including automation of time-consuming manual work and easy ways to connect financial systems. The new solutions will go further toward transforming AP processes with automation.

Accounts Payable 69

Accounts Payable Accounting Invoicing Compliance 69

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. In short, money laundering needs to be discussed and assessed as part of risk management policy in all companies.

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Compliance Banking Risk Management Currencies 84

PYMNTS

JANUARY 30, 2019

The investigation found that Standard Chartered’s traders used illegal tactics to maximize profits or minimize losses at the expense of the bank’s customers, or customers at other financial institutions (FIs).

Profit and Loss 51

Profit and Loss Foreign Exchange Compliance Auditing 51

CFO Talks

SEPTEMBER 26, 2024

It outlines compliance requirements such as annual financial statement submissions, director duties, and shareholder rights. CFOs must ensure compliance with various tax deadlines, proper record-keeping, and adherence to SARS guidelines to avoid penalties and interest charges.

IFRS 52

IFRS Compliance Auditing Financial Reporting 52

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.”

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Compliance Currencies Financial Systems Leverage 82

PYMNTS

NOVEMBER 30, 2020

WatchDOG AML is a “holistic” anti-money laundering ( AML ) solution that works to prevent financial crime by “identifying suspicious activity in real time with an enterprise transaction monitoring system,” the companies said in a statement on Monday (Nov.

Risk Management 63

Risk Management Compliance Financial Systems Leverage 63

PYMNTS

APRIL 3, 2020

The agency, whose mission is to safeguard the financial system, said compliance with the Bank Secrecy Act (BSA) is the key to keeping the nation safe by fighting money laundering and related crimes, including terrorism and its financing.

Compliance 56

Compliance Treasury Financial Systems Banking 56

PYMNTS

SEPTEMBER 24, 2019

These are attempts, and, often because of diligent work by bank compliance officers, do not represent actual losses. financial system have had some information about themselves … compromised at some point.”. “FinCEN is seeing around 5,000 account takeover reports each month involving approximately $350 million,” he said.

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Compliance Financial Systems Accounting Securities 71

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

Global Finance

JULY 29, 2024

Banks inject trust into the financial system,” says Sandeep Vishnu, a partner at industry consultant Capco. That’s risky for the financial system, says Viral Acharya, a professor at New York University’s Stern School of Business who specializes in financial regulation. of financial assets, the FSB reports.

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Banking Profit and Loss Financial Systems Technology 104

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

SEPTEMBER 17, 2020

Bad habits of saving important documents any old place, and assuming you and coworkers can easily find them later, rarely flies in industries where compliance is key.". Integrating financial systems and workflows with document management technology can support automated organization as well as data capture.

Accounts Payable 63

Accounts Payable Compliance Invoicing Finance 63

CFO News

JUNE 28, 2024

RBI's financial stability report underscores the importance of governance, Basel III norms compliance, and maintaining high CET1 ratios for banks. Monitoring GNPA ratios of public, private, and foreign banks essential for financial system stability and resilience.

Compliance 40

Compliance Financial Systems Banking 40

CFO News

JUNE 28, 2024

RBI's financial stability report underscores the importance of governance, Basel III norms compliance, and maintaining high CET1 ratios for banks. Monitoring GNPA ratios of public, private, and foreign banks essential for financial system stability and resilience.

Compliance 40

Compliance Financial Systems Banking 40

PYMNTS

NOVEMBER 2, 2020

The ministry’s AML and CFT policies incorporate the suggested policies set by the Financial Action Task Force (FATF) and will be monitored by the Caribbean Financial Action Task Force (CFATF). During phase one, VASPs will have to demonstrate their compliance with these standards, according to the release.

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Banking Risk Management Compliance Currencies 64