Abrigo

JUNE 3, 2021

According to the “ 2021 Crypto Crime Report” published by Chainalysis, 55% of all cybersecurity crime is comprised of just 270 deposit addresses. Financial Cybersecurity. Primarily due to its monikers, cryptocurrency criminals are using NSPs to find more ways to defraud the consumer and the facilitator, all while staying anonymous.

Cybersecurity 147

Cybersecurity Credit Unions 147

Abrigo

MARCH 7, 2022

There will likely be a grace period for implementing any changes, as was given with the 2018 rule, and banks and credit unions must be fully informed when that time comes. Few banks and credit unions are settling cryptocurrency accounts, posing a higher risk for illicit activity. Financial Cybersecurity.

Credit Unions 78

Credit Unions Cybersecurity Transactions 78

Abrigo

JANUARY 3, 2024

Once they are given the go-ahead by FinCEN, banks and credit unions are required to obtain consent from the reporting customer, the FI’s client, before accessing the information. Prepare for procedure changes Immediate changes for banks and credit unions? For financial institutions in the U.S. Beginning Feb.

Credit Unions 88

Credit Unions Cybersecurity 88

Abrigo

JANUARY 13, 2015

During an October 2014 NCUA examination of Palm Springs Federal Credit Union (FCU), a confidential flash drive went missing. Matz recently stated that a revised risk-based capital rule will be proposed, as well a fixed assets rule that would require the use of a fixed-asset management plan by credit unions.

Cybersecurity 83

Cybersecurity Credit Unions Small Businesses 83

Abrigo

APRIL 6, 2022

The war in Ukraine has financial institutions on high alert for cybersecurity threats. Background Historically, the federal banking regulators required financial institutions to file two types of reports for certain cybersecurity incidents. A covered financial institution does not include credit unions.

Cybersecurity 78

Cybersecurity CECL Law Firms Credit Risk 78

Abrigo

JULY 10, 2023

AI fraud resources for customers Protecting your clientele from AI fraud AI fraud is not top of mind for most bank and credit union customers. What was your favorite childhood toy? Who is your favorite sports player?

Credit Unions 60

Credit Unions Cybersecurity Credit and Collections Transactions 60

Abrigo

NOVEMBER 17, 2023

According to research by Javelin Strategy & Research, 31% of clients are more likely to leave the financial institution after a fraud event, even when the bank or credit union is not at fault. Remember, media attention is not always positive or wanted. Regulatory risk Regulatory risk is yet another significant concern.

Credit Unions 78

Credit Unions Cybersecurity Transactions 78

Abrigo

JANUARY 4, 2023

Financial Cybersecurity. Financial Cybersecurity. 2023 Fraud trends: What banks and credit unions can expect. Remember, an opportunity that sounds too good to be true probably is. Learn more about cryptocurrency and the digital asset space. Keep me informed. Download Whitepaper. Financial Crime. Fraud Prevention.

Cybersecurity 78

Cybersecurity Credit Unions Credit and Collections Transactions 78

Abrigo

NOVEMBER 7, 2022

The following tips can help bank customers or credit union members, family, and others in the community prevent veteran fraud: Talk about examples of elder fraud to older friends and family who are veterans. If a bank customer or credit union member falls victim to elder abuse, there are resources available to help.

Credit Unions 78

Credit Unions Cybersecurity Transactions 78

Biz2X

AUGUST 15, 2023

Cybersecurity solutions help protect customer information and assets. Leading banks, credit unions, and other financial companies leverage a wide range of strategies and technologies to make the customer experience more personal. They also assist banks in derivative pricing and improving their cybersecurity programs.

Cybersecurity 52

Cybersecurity Credit and Collections Credit Unions Transactions 52

Abrigo

DECEMBER 7, 2021

According to the FFIEC, there are no required risk categories, and the number and detail of these categories vary based on the bank or credit union's size or complexity. Determine whether these volumes are increasing or decreasing and what controls the bank or credit union has in place for each. Financial Cybersecurity.

Cybersecurity 78

Cybersecurity Credit Unions Credit and Collections Transactions 78

Abrigo

NOVEMBER 21, 2019

If you already have certifications and need to obtain continuing education credits , I would focus on the following topics: cannabis-related businesses , cybersecurity and lending and underwriting. Cybersecurity will remain one of the larger risks posed not only to financial institutions but also to their customers.

Cybersecurity 78

Cybersecurity Credit Unions 78

Abrigo

MAY 20, 2022

Financial Cybersecurity. Financial Cybersecurity. Cybersecurity Advice for Banks & Credit Unions Amid Russia-Ukraine Situation. Learn More. Financial Crime. Fraud Prevention. Fraud Trends. Is the U.S. Keeping Up in the Digital Asset Space? Learn More. Fraud Prevention. Fraud Trends. Learn More.

Cybersecurity 78

Cybersecurity Credit Unions Transactions 78

Abrigo

FEBRUARY 28, 2023

Double check texts from your employer: A report by the cybersecurity company Proofpoint found that 81 percent of organizations surveyed faced smishing attacks. A typical example of this is the Walmart text scam , so if you suddenly receive a "prize” from a contest or sweepstakes you don’t remember applying to, be wary.

Cybersecurity 78

Cybersecurity Credit Unions 78

Abrigo

FEBRUARY 25, 2022

Banks, credit unions, and non-bank financial institutions ( NBFIs ) should w atch for t hese eight BSA /AML regulatory topics to see changes in 2022 and start preparing now to help your institution s tay up to date. published by Chainalysis, 55 percent of all cybersecurity crime is comprised of just 270 deposit addresses.

Credit Unions 78

Credit Unions Credit and Collections Cybersecurity 78

Abrigo

JULY 16, 2021

banks and credit unions, and they may believe that these serious AML/CFT concerns will not affect their communities. There are many steps community banks and credit unions can take to stop these illicit funds from flowing through our U.S. financial system.

Credit Unions 78

Credit Unions Cybersecurity CECL Credit Risk 78

Abrigo

JUNE 30, 2020

Communication and collaboration are key to helping remote bank and credit union workers succeed. For PPP lenders, many workers might have continued coming into the bank or credit union branch or office, but they were unable to meet face-to-face with co-workers or customers/members due to restrictions on in-branch traffic.

Credit Unions 78

Credit Unions Cybersecurity Credit Risk CECL 78

Abrigo

OCTOBER 10, 2023

Banks and credit unions should consider teaching their staff how to use the fraud triangle to enhance their ability to shield customers from fraud. A worsening economy can exacerbate conditions that experts refer to as the fraud triangle fundamentals—pressure, opportunity, and rationalization.

Cybersecurity 78

Cybersecurity Credit Unions Transactions 78

Abrigo

APRIL 25, 2023

Check out this SAR writing checklist for essential elements of a compelling SAR narrative.

Cybersecurity 78

Cybersecurity Credit Unions Transactions 78

Abrigo

JULY 13, 2023

Navigate your BSA exam with tips from this on-demand webinar.

Cybersecurity 78

Cybersecurity Credit Unions Credit Scoring Transactions 78

Abrigo

FEBRUARY 3, 2020

One challenge at a lot of banks and credit unions, however, is that a substantial chunk of the IT budget is tied up in technology infrastructure and maintenance and therefore, cannot be used for those new initiatives. Credit Risk Regulation. Financial Cybersecurity. Asset/Liability. Beneficial Ownership: Is the U.S.

Credit Unions 60

Credit Unions CECL Cybersecurity Credit Risk 60

Biz2X

JUNE 9, 2023

The process typically looked something like this: Choose a bank or credit union: Consumers could choose one or more institutions based on referrals from colleagues, previous banking experience, location, or just on a whim! Takeaways Digital transformation introduces new cybersecurity risks and threats.

Cybersecurity 40

Cybersecurity Credit and Collections Credit Unions Transactions 40

Abrigo

APRIL 30, 2020

Automated models enable institutions to better understand how much revenue a bank or credit union could lose based upon different scenarios. Financial Cybersecurity. These institutions would also benefit from automating loan workout and measuring lost revenue. Artificial Intelligence. BSA Software. Learn More. BSA Software.

Cybersecurity 78

Cybersecurity Credit Unions Credit Risk Small Businesses 78

Biz2X

JULY 25, 2023

The demand for seamless and convenient end-to-end financial services online will only increase with time, and community banks and credit unions must leverage technology to optimize their lending processes and remain at the cutting edge of customer service.

Default 52

Default Cybersecurity Credit Unions Credit Risk 52

Biz2X

MARCH 31, 2023

Because of this, many private depositors and owners of small businesses across the country are making withdrawals and moving their money to new deposit accounts at banks and credit unions they feel are better managed and more secure than the ones they’re currently doing business with.

Brokerages 52

Brokerages Credit and Collections Cybersecurity Credit Unions 52

Abrigo

MARCH 4, 2022

Preventing synthetic identity fraud impacts the bank, credit union, or non-bank financial institution beyond minimizing losses. When a new account requests multiple lines of credit or loans and quickly begins utilizing them to their maximums Conclusion Synthetic identity theft is a genuine, increasing threat to financial institutions.

Credit Unions 78

Credit Unions Credit and Collections Transactions Cybersecurity 78

Abrigo

MARCH 31, 2023

NCUA expectations for credit unions post-CECL adoption The NCUA's focus on risk, especially credit risk, has implications for credit unions instituting CECL this quarter. Takeaway 2 Credit unions may still have questions about regulatory expectations for CECL after adopting the new standard.

Credit Unions 78

Credit Unions CECL Credit Risk Credit and Collections 78

Abrigo

NOVEMBER 11, 2021

This may include community financial institutions and credit unions. Financial Cybersecurity. Cybercriminals may target organizations with weaker security controls and a higher propensity to pay the ransom due to the criticality of their services. Financial Red Flag Indicators of Ransomware. Learn More. Learn More. Fraud Trends.

Transactions 78

Transactions Cybersecurity Credit Card Payments Credit Unions 78

Abrigo

NOVEMBER 11, 2021

This may include community financial institutions and credit unions. Financial Cybersecurity. Cybercriminals may target organizations with weaker security controls and a higher propensity to pay the ransom due to the criticality of their services. Financial Red Flag Indicators of Ransomware. Learn More. Learn More. Fraud Trends.

Transactions 78

Transactions Cybersecurity Credit Card Payments Credit Unions 78

Abrigo

APRIL 12, 2021

Takeaway 2 Once a bank or credit union understands the need for an LOS, it develop one or use a third-party vendor. A loan origination system (LOS) has become a common banking buzzword among banks and credit unions in recent years. It’s also important to understand how an LOS may be able to help your bank or credit union.

Credit Unions 135

Credit Unions Credit Risk Credit and Collections Cybersecurity 135

Abrigo

JANUARY 22, 2024

Especially when introducing new products at your bank or credit union, AML, fraud, and cybersecurity teams must collaborate. For example, many banks and credit unions looking for a competitive edge are considering implementing FedNow services.

Cybersecurity 88

Cybersecurity Credit Unions Transactions 88

Abrigo

NOVEMBER 19, 2015

The top four answers, all being selected 50 percent of the time or higher, were enterprise risk management, cybersecurity, stress testing and capital planning. . • Respondents were asked which areas their bank has improved infrastructure in over the past three years.

Cybersecurity 60

Cybersecurity Credit Risk Credit Unions 60

Abrigo

DECEMBER 22, 2023

Abrigo's top AML/CFT articles The FinCrime blogs banks and credit unions are reading Cannabis legislation, check fraud, and exam-proof best practices are hot topics that anti-money laundering/countering the financing of terrorism (AML/CFT) and fraud professionals will be tracking in the coming months.

Credit Unions 88

Credit Unions Cybersecurity 88

Abrigo

FEBRUARY 8, 2024

Takeaway 3 Numerous resources can help banks and credit unions offer training on fraud to help customers or members recognize scams and avoid theft. Fraud losses mount Why educate bank/credit union clients on fraud? Guide customers on how to enable and use MFA features for their accounts.

Credit Unions 78

Credit Unions Transactions Small Businesses Cybersecurity 78

Abrigo

FEBRUARY 22, 2024

Check fraud prevention is at the forefront for financial institutions Banks and credit unions report that check fraud is impacting their institution more than any other threat. Takeaway 3 AI and machine learning tools can help banks and credit unions reduce staff burden and increase accurate detection.

Credit Unions 78

Credit Unions Cybersecurity Transactions 78

Abrigo

MARCH 29, 2023

Blog AML/CFT Fraud Prevention Fraud Trends Lending & Credit Risk SBA Lending PPP fraud: How financial institutions can mitigate ongoing risk Learn More Blog Advisory Services AML/CFT BSA Rules and Regulation Dark Web Financial Cybersecurity Fraud Prevention Fraud Trends How to conduct an exam-proof BSA/AML risk assessment Learn More Blog Advisory (..)

Cybersecurity 78

Cybersecurity Credit Unions Credit Risk Transactions 78

Abrigo

MARCH 4, 2022

How Financial Institutions Can Get Their "Cyberguard Up" Experts say banks and credit unions should be proactive and adopt a heightened cybersecurity posture given the tensions tied to the Ukraine situation. Starting May 1, financial institutions will have tighter definitions for reporting cybersecurity incidents.

Credit Unions 78

Credit Unions Cybersecurity Transactions 78