Abrigo
AUGUST 19, 2020
Update your spike or anomaly scenarios to detect increases (or decreases) in aggregate transactions. Now more than ever an institution’s transaction monitoring should be robust enough to detect these bad actors and protect both the institution and its customers/members. Spike or Anomaly Scenarios.
Abrigo
JANUARY 27, 2020
Key Takeaways Make sure your credit union is filing SARs and CTRs properly. Strengthen credit risk by improving your credit union's loan underwriting standards. Be proactive in cybersecurity controls and implement best practices. . Strengthen credit risk by improving underwriting. talk to an advisor.
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Abrigo
DECEMBER 27, 2022
After the fraudster receives the fee, the investment transaction is never executed. Financial Cybersecurity. Banking cybersecurity & cybercrime: Protecting banking customers starts with you. Lending & Credit Risk. Portfolio Risk & CECL. The letter may be sent by mail, fax, or email. Whitepaper.
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. Financial Cybersecurity. Financial Cybersecurity.
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. Lending & Credit Risk. Portfolio Risk & CECL. Fraud Prevention. Fraud Trends. Learn More.
Abrigo
AUGUST 27, 2020
Lending & Credit Risk. Financial Cybersecurity. 5 Ways Your Transaction Monitoring System Can Detect COVID-19 Related Fraud. Regulators will want to discuss what steps your institution has taken to ensure a strong BSA/AML program during this unprecedented pandemic. Now is the time to show what you’ve got. SBA Lending.
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.,
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