Financial institutions

Managing Data in a Regulated World – How Financial Institutions Can Manage Data Risk While Ensuring Compliance

Financial institutions are a major target for data breaches and deliberate attacks by cybercriminals. These data breaches can compromise the privacy of all stakeholders, often due to unauthorized access to sensitive Personally Identifiable Information (PII) data, such as Social Security numbers. Approximately 147 million customers were potentially impacted by the Equifax data breach in September […]

Financial institutions

Bank of America Corporation (NYSE:BAC) – Other Barriers for Hemp and Cannabis Startups; Financial institutions now need lawyers

Over the past few months, financial institutions, including banks and e-commerce platforms, have asked their cannabis customers to provide additional evidence from a lawyer attesting to the legitimacy of a cannabis company when making application for bank accounts and lines of credit. Although federal legalization is a seemingly never-ending legal battle, entrepreneurs are still entering […]

Financial institutions

NUBIFIE threatens to shut down financial institutions if crisis persists – Nigeria – The Guardian Nigeria News – Nigeria and World News

The National Union of Banking, Insurance and Financial Institutions Employees (NUBIFIE) has said it will join the Nigeria Labor Congress (NLC) in its solidarity strike against the continuing strike by the University Academic Staff Union ( ASUU). NUBIFIE said so in a statement signed by its National President, Mr. Anthony Abakpa, and its Secretary General, […]

Financial institutions

ASUU strike: NUBIFIE threatens to shut down financial institutions if crisis persists

Asuu Strike The National Union of Banking, Insurance and Financial Institutions Employees (NUBIFIE) has said it will join the Nigeria Labor Congress (NLC) in its solidarity strike against the continuing strike by the University Academic Staff Union ( ASUU). NUBIFIE said so in a statement signed on Sunday by its National President, Mr. Anthony Abakpa, […]

Financial institutions

Three-quarters of financial institutions expect increased use of crypto in the future

Ripple has released a new report revealing that a significant number of financial players believe crypto usage will increase over the next three years. Many of them also want to work with the crypto asset class. The New Value: Crypto Trends in Business and Beyond report covers several aspects of the Internet of value. Ripple […]

Financial institutions

SI 2022 Risks of financial institutions

Matteo Benetton, University of California at Berkeley Christa Bouman, Texas A&M University Georgia Bush, Bank of Mexico Richard Singer, Moody’s Investors Service Harry R. Cooperman, Federal Reserve Bank of New York Claudia Custodio, imperial college london Robert Czech, bank of england Sebastian K.Doerr, Bank for International Settlements Gregory Duffee, Johns Hopkins University Mustafa Emin, University […]

Financial institutions

Consumers turn to their financial institutions for guidance and advice, but banks fall short: study

Stressed woman working on a laptop in an office. Image: Getty JD Power released its 2022 U.S. Retail Banking Advice Satisfaction Study last week, revealing a downward trend in customer satisfaction with their financial institutions. The study found that while 59% of banking customers expect their financial institutions to improve their financial health, only 47% […]

Financial institutions

CBN advises banks and financial institutions on open banking | The Guardian Nigeria News

The Central Bank of Nigeria (CBN) has advised banks and other financial institutions to seize the opportunities represented by open banking to foster financial inclusion in the country. On Tuesday, Ms. Aishah Ahmad, Deputy Governor of the Financial Systems Stability (CBN) Directorate, gave advice during the sixth round of Chartered Institute of Bankers of Nigeria […]

Financial institutions

Tourism associations must discuss directly with financial institutions for the extension of the moratorium – Latest News

As the moratorium extended to the hard-hit tourism sector ended yesterday, the Sri Lanka Tourism Development Authority (SLTDA) has asked trade associations to engage in one-on-one discussions with financial institutions for a possible extension of the moratorium . The SLTDA, in a notice to all trade associations, said […]

Financial institutions

First Latina to lead the U.S. Community Development Financial Institutions Fund

Marla Bilonick has become the first Latina unanimously elected to chair the Community Development Advisory Council of the United States Department of Treasury’s Community Development Financial Institutions (CDFI) Fund in its 27-year history. . This is a historic moment for the Latino community in the federal government, and moreover, Bilonick is only the second woman […]

Financial institutions

Key Takeaways from the New CBN Cybersecurity Guidelines for Other Financial Institutions (OFIs) in Nigeria

OFIs, which are essentially third-party financial service providers, are particularly susceptible to these cybersecurity threats. And this is due to the fact that they mainly rely on Information and Communication Technology (ICT) to conduct their daily business activities. Some examples of threats that Nigerian OFIs currently face include ransomware attacks, spear phishing, and advanced persistent […]

Financial institutions

Financial institutions Key players in the prevention of future pandemics – Prof. MUK’s Byarugaba

Professor Denis Byarugaba from the Department of Microbiology at Makerere University and a member of the Board of Trustees of the Uganda National Academy of Sciences gave advice to Ugandans, especially financial institutions, on how to better manage pandemics in case they break out. Byarugaba said preventing the next pandemic, whether a recurrence of Covid-19 […]

Financial institutions

Financial institutions must speed up the handling of customer complaints

The Bangladesh Bank has ordered non-banking financial institutions to activate their three-tier cells to expedite the handling of complaints from their customers. In a circular issued on Monday, the central bank said the 2014 policy instructed to form customer complaints cells at the head office, regional office and branches of all non-banking financial institutions (NBFIs). […]

Financial institutions

Financial institutions in the hands of looters

The country’s financial institutions have come under the control of looters, Jatiya party MP Kazi Firoz Rashid told Jatiya Sangsad yesterday. He criticized the government for failing to stop money laundering and the looting of banks and other financial institutions. For all the latest news, follow the Daily Star’s Google News channel. “Unchecked looting is […]

Financial institutions

Louisiana Bill Allowing Financial Institutions to Act as Custodian of Digital Assets Marks Historic Day for Cryptocurrency

Cryptocurrency in its pursuit to be the most valuable and valuable asset. Photo credits: How-To-Geek It is not every day that an asset emerges in the world, which is valuable and recognized as one of the most valuable assets in the world. Cryptocurrency, one of the digital assets, is considered to be one of the […]

Financial institutions

Lightico and Glia Partner to Help Financial Institutions Simplify On-Screen Customer Experiences

Lightico, a leading provider of digital customer interactions, and Glia, a leader in digital customer service (DCS), announced a partnership to facilitate complex customer engagements, such as credit card, insurance policy and insurance or mortgage, in a seamless on-screen experience. The partnership integrates Lightico’s Digital Completion Cloud with Glia’s Digital Customer Service (DCS) platform for […]

Financial institutions

New Android Trojan targets financial institutions and customers

Blockchain and cryptocurrency, Cryptocurrency fraud, Cybercrime MaliBot steals credentials and cryptocurrency from Italian and Spanish victims Prajeet Nair (@prajeetspeaks) • June 18, 2022 New strain of Android malware targets online banking customers and financial institutions, cybersecurity researchers from F5 Labs says. See also: On demand | Zero tolerance: control the landscape where you will meet […]

Financial institutions

BOND.AI launches network for financial institutions and employers

BOND.AI, a human-centric artificial intelligence company, announced on June 16 the creation of “The BOND Network”. The network is a first of its kind of financial institutions and employers for interconnected finance. The BOND network will give partners such as banks, credit unions, large corporations and small businesses access to modern financial health products through […]

Financial institutions

Banks and financial institutions should proactively undertake stress testing of lending books: RBI Deputy Governor Rao

MUMBAI: Despite improving asset quality, financial institutionsincluding banks, should proactively undertake stress testing of their loan portfolios to examine loss absorption limits and take steps to improve them, if necessary, RBI Deputy Governor M Rajeshwar Rao said on Thursday. Gross non-performing assets (GNPA) and net NPA of banks improved to 5.97% and 1.7% as of […]

Financial institutions

West Virginia Threatens to Boycott Major Financial Institutions Over Alleged Bias Against Fossil Fuel Industry – Corporate & Corporate Law

To print this article, all you need to do is be registered or log in to Mondaq.com. West Virginia State Treasurer Wiley Moore – a Republican – recently threatened six major financial institutions to boycott business dealings with West Virginia government entities. This move by the West Virginia state government implements state law […]

Financial institutions

Treasurer Moore warns six financial institutions of possible inclusion on fossil fuel boycott list

CHARLESTON, W.Va. — State Treasurer Riley Moore announced that he has sent notices to six financial institutions advising them that they may be placed on the United States Restricted Financial Institutions List. state after his office initially determined that the institutions appeared to be engaged in boycotting fossil fuel companies. “Earlier this year, our Office […]

Financial institutions

Financial Institutions, Inc. Announces Share Repurchase Program

WARSAW, NY, June 13, 2022 (GLOBE NEWSWIRE) — Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), parent company of Five Star Bank (the “Bank”), SDN Insurance Agency, LLC (“ SDN”), Courier Capital, LLC (“Courier Capital”) and HNP Capital, LLC (“HNP Capital”), today announced that its Board of Directors has approved a share buyback program of up […]

Financial institutions

Quasi-State Financial Institutions and Bretton Woods: A Case of Collaboration?

Econography June 13, 2022 Quasi-State Financial Institutions and Bretton Woods: A Case of Collaboration? By Amin Mohseni-Cheraghlou Over the past seven decades, the International Monetary Fund (IMF) and the World Bank have played a central role in the global economic and financial architecture, with varying degrees of success. These Bretton Woods Institutions (BWIs) continue to […]

Financial institutions

BoG received 857 customer complaints from financial institutions in 2021

The Bank of Ghana (BoG) received a total of 857 customer complaints from Regulated Financial Institutions (RFIs) in 2021. This is against 876 complaints registered in 2020. The 2.17% drop in the total number of complaints filed can be attributed to the strict application of first-level complaint handling by financial institutions. This is based on […]

Financial institutions

International Financial Institutions Boost Fintech in Emerging Markets

Lagos, Nigeria, June 10, 2022 /PRNewswire/ — More and more international financial institutions are participating in the development of fintech in emerging markets. MasterCard recently established a strategic partnership with OPay, a fintech unicorn in emerging markets. On May 19, 2022MasterVSard and OPay, a fintech company focused on emerging markets, announced a strategic partnership to […]

Financial institutions

Going Green with Regulatory Technology for Financial Institutions

As the popular adage goes, “change is the only constant” and climate change fits the bill perfectly, as every notable change in climate patterns poses an increased risk to financial stability. It is therefore not surprising that climate risk continues to be one of the main agendas of banking and financial institutions. As regulators, banks […]

Financial institutions

Federal Trade Commission Safeguard Rule for Financial Institutions

Under the Gramm-Leach-Bliley Act, organizations defined as “financial institutions” must maintain the security and confidentiality of information about their customers. The Safeguard Rule, one of three sections of the GLBA, was updated on December 9, 2021. With this update, the Federal Trade Commission notes that an organization “engaging in financial activity or incidental to such […]

Financial institutions

3 things financial institutions should consider when negotiating with an outside lawyer

Financial services companies often rely on outside attorneys for assistance in a wide range of areas, from litigation to banking. According to data from Wolters Kluwer ELM Solutions, financial institutions have historically paid the highest hourly rates of any industry, paying out 10% more than the closest (industrial) counterparts. With the majority of law firms […]

Financial institutions

Leading financial institutions join forces with the United Nations Economic Commission for Africa (UNECA) and FSD Africa to form the African Natural Capital Alliance (ANCA)

A group of leading financial institutions from across Africa met with Ghana’s Ministry of Environment, Science, Technology and Innovation (MESTI) and Sector Development Agency UK-funded financial institution FSD Africa as founding members of the African Natural Capital Alliance (ANCA). The alliance, in partnership with the United Nations Economic Commission for Africa (UNECA), will act as […]

Financial institutions

Fintechs and financial institutions can step into the future with a digital gateway

Fintech can be a multiplier for fintech. What does that mean? Fintech companies can work with other Fintech companies to advance their solutions faster. Rather than building different versions of products and services for each banking core, an open API digital gateway offered by a fintech partner can allow developers to build once. Traditionally, “check […]

Financial institutions

Mia Mottley, the leader disrupting global financial institutions on behalf of people and the planet

Mia Mottley, Prime Minister of Barbados, made headlines around the world last year with her candid but solutions-focused speech at the COP26 climate change conference in Glasgow. And just last month, she was named one of Time Magazine’s 100 Most Influential People of 2022. Now co-chair of the United Nations Secretary-General’s Sustainable Development Goals (SDGs) […]

Financial institutions

Three Practices Observed for Cloud Adoption at Large Financial Institutions

By Jamil MinaChief Architect, Financial Services, Red Hat Over the years, the popularity of the public cloud has grown in the financial services industry, holding the promise of delivering IT services faster and scaling those services on demand to meet peak business demand. Cloud adoption requires large enterprise developers to learn new technologies and become […]

Financial institutions

New Succession Planning Book Helps Financial Institutions Create a Prosperous Future

Business Growth Experts Dr. Mary C. Kelly and Meridith Elliott Powell present concrete strategies for beginning leadership succession planning before it becomes a crisis DENVER and ASHEVILLE, North Carolina, June 1, 2022 /PRNewswire/ — CEOs, presidents, board members and other senior leaders of financial institutions, banks and credit unions who want to ensure their organizations […]

Financial institutions

How can incumbent financial institutions defend themselves against disruptors?

Historically, large banking institutions have always been a bit of a laggard when it comes to innovation, delaying innovation to see what succeeds within smaller institutions or businesses. Only once success has been proven, decide to roll out the new innovative feature or technology to their huge customer base. This strategy, however, is no longer […]

Financial institutions

The Jamaican government will sign a memorandum of understanding with the financial institutions regarding the NIDS

The Jamaican government has said it plans to sign a Memorandum of Understanding (MOU) early next month with financial institutions to participate in the nationwide National Identification System (NIDS) pilot project. The Minister without Portfolio in the Prime Minister’s Office, Floyd Green, already says that the ten members of the Jamaica Bankers Association (JBA) have […]

Financial institutions

Department of Financial Institutions: Wisconsin State-Chartered Credit Unions Report Strong First Quarter Financial Performance

MADISON, Wis. – Wisconsin’s 111 state-chartered credit unions continue to show strong financial performance through March 31, 2022, according to data released today by the Wisconsin Department of Financial Institutions (DFI). At the end of the first quarter, total assets of Wisconsin state-chartered credit unions exceeded $57.2 billion, an increase of $1.4 billion from the […]

Financial institutions

Financial institutions move into ARMs amid high rates

At least two financial institutions this week brought back adjustable-rate mortgage products (ARMs) amid soaring mortgage rates and double-digit growth in house prices. Michigan-based wholesale lender Attachment point deployed a jumbo ARM product offering a maximum loan amount of $2.5 million, with a maximum loan-to-value ratio of 80%. Homepoint’s jumbo ARMs have a fixed rate […]

Financial institutions

NFP’s Financial Institutions Group hires TigerRisk for Lloyd’s Line Slip – InsuranceNewsNet

NEW YORK (PRWEB) May 24, 2022 NFP, a leading property and casualty insurance broker, employee benefits consultant, wealth manager and retirement advisor, today announced its Financial Institutions Group (FIG) selected TigerRisk Partners LLC to develop a line slip to do business with Lloyd’s of London. FIG specializes in advising and placing financial and general casualty […]

Financial institutions

A support tool for financial institutions –

EOS Data Analytics provides agro-banks with satellite monitoring solutions to streamline loan risk assessment In light of global food demand and climate change caused by the greenhouse effect, agriculture has undergone significant transformations to respond to emerging challenges. Advances in technology are improving traditional farming approaches and shifting to more sustainable practices. The global smart […]

Financial institutions

Scams are on the rise. What should financial institutions do to better protect themselves and their customers?

Scams, the number one type of crime in the United States, continue to threaten financial institutions and their customers. Recently released data from the Federal Trade Commission (FTC) shows that consumers reported losing more than $5.8 billion to fraud in 2021, an increase of more than 70% from the year previous. The FTC also shared […]

Financial institutions

Scams are on the rise. What should financial institutions do to better protect themselves and their customers?

Scams, the number one type of crime in the United States, continue to threaten financial institutions and their customers. Recently released data from the Federal Trade Commission (FTC) shows that consumers reported losing more than $5.8 billion to fraud in 2021, an increase of more than 70% from the year former. The FTC also shared […]

Financial institutions

Hundreds of local financial institutions hit the restart button

HelloRF Bank of Shanghai, the city’s largest repo-issuing bank, said its outlet in Chongming resumed in-person operations on Wednesday and saw strong demand for cash withdrawals, wealth management and money transfers. The first batch of financial institutions, 864 in total, were allowed to resume operations on Wednesday as the city’s COVID-19 situation improves, local authorities […]

Financial institutions

From robbery to hijacking, cybercriminals are turning to financial institutions

Most financial institutions said Russia poses greatest concern as geopolitical tensions continue to escalate in cyberspace VMWare has noticed that sophisticated cybercrime cartels have evolved beyond wire transfer fraud to target market strategies, take over brokerage accounts and go island-hopping at banks. 63% of financial institutions admitted to experiencing an increase in destructive attacks, while […]

Financial institutions

Financial institutions still confident in the Chinese market

BEIJING: Despite the Covid-19 outbreaks and mounting downward pressure on the economy, several global financial institutions have expanded their presence or plan to do so in the Chinese market, showing continued confidence in the world’s second-largest economy. Six asset management companies have recently been approved to join the Qualified Foreign Limited Partner (QFLP) program or […]

Financial institutions

Shanghai lets financial institutions get back to work as COVID-19 restrictions ease

Shanghai authorities have allowed 864 of the city’s financial institutions to resume operations, three sources with direct knowledge of the matter said on Wednesday, as it gradually eases a citywide lockdown that began there. at seven weeks. The move is part of the financial hub’s plan to reopen widely and allow normal life to resume […]

Financial institutions

Why Financial Institutions Need Market Surveillance

VSCentral banks are responsible for overseeing their country’s monetary system and establishing regulations to keep its markets balanced. Part of this includes establishing benchmark exchange and interest rates and supervising trade around the world. In recent years, “risk-free” benchmarks and the implementation of codes of conduct have made it more difficult to manipulate the foreign […]

Financial institutions

From hammer to hammer: non-banking financial institutions face new security rules

Anthony J. Hendricks On December 9, 2021, the Federal Trade Commission issued final rules that amended its standards for protecting customer information (“Safeguard Rules”). These updated rules place additional requirements on how non-bank financial institutions must protect customer information. However, there has been some confusion about who these rules apply to and when companies must […]

Financial institutions

Total Expert helps financial institutions conquer the procurement market with powerful integrations and consumer insights to generate and capture leads

Platform upgrades and partnerships will strengthen data connections, improve lending teams’ ability to leverage consumer insights, and build engagement and loyalty. MINNEAPOLIS, May 11, 2022–(BUSINESS WIRE)–Total Expert, the CRM and customer engagement platform purpose-built for modern financial institutions, is rolling out new features for lenders, banks and credit unions to help them better manage customer […]

Financial institutions

FIS helps small and medium financial institutions digitally transform with new integrated funding capabilities in partnership with Treasury Prime

“We are delighted to present to you Montfort as a leading innovator in specialty private credit,” said mike walkinshaw , CEO of Corporation Montfort Capital. “Counting ongoing acquisitions, our business will have more than tripled in size over the past year to more than $450 million assets, as we leveraged our expertise and scalable loan […]

Financial institutions

Jack Henry and Nydig to offer bitcoin services to financial institutions

Jack Henry & Associates, Inc. (NASDAQ:JKHY) today announced that it is working with NYDIG, a leader in bitcoin technology and financial services solutions, to enable financial institutions to make bitcoin more accessible to cardholders. of account. Many consumers and businesses are turning to their financial institutions to provide bitcoin services, which this relationship will solve. […]

Financial institutions

Northwestern Mutual Invests $5 Million in Black-Led Financial Institutions – InsuranceNewsNet

MILWAUKEE – May 5, 2022 – According to the Black Business Owner Spotlight 2021, 56% of Black entrepreneurs said access to capital was a recurring barrier, often limiting their ability to grow their business. To help break down this barrier and further close the racial wealth gap in the United States, Northwestern Mutual today announced […]

Financial institutions

Argentina’s Central Bank Considers Banning Local Financial Institutions From Offering Cryptocurrency Services

Despite the central bank’s tough stance, Argentina’s digital asset market has been booming for some time. The COVID-19 pandemic has hit the country, which has been dealing with an uncertain economy in recent years. Argentina’s largest private bank by market value, and Brubank, Argentina’s digital bank, collaborated with crypto wallet Lirium to offer cryptocurrency services […]

Financial institutions

Financial Institutions Should Introduce Automation – Just Make Sure It’s the Right Kind

In recent years, the intersection of finance and technology has grown, helping to expand markets and drive innovation. While this presents a tremendous opportunity to automate businesses and streamline processes, unfortunately, far too many financial institutions, accounting departments and other finance professionals still spend time on manual, monotonous tasks and delay their ability to progress […]

Financial institutions

Amberdata raises $30 million to give financial institutions a glimpse of Web3

Blockchain asset market analytics firm Amberdata Inc. today announced that it has raised $30 million in new funds led by Knollwood Investment Advisory to expand its operations in response to growing institutional interest in the Web3 and decentralized finance. This Series B funding round brings the total raised by the company to $47 million to […]

Financial institutions

PaydayNow Personal loans: What can I use them for?

A personal loan is usually unsecured (no collateral required), and you can use it for various purposes. Personal loans are available through credit unions, banks, and online lenders. Choose a personal loan if you need money to cover a significant purchase or an unexpected bill. Unlike loans tailored for a specific purchase, personal loans are […]

Financial institutions

Indigenous women call on financial institutions to stop investing in extraction

This story is published as part of the Global Indigenous Affairs Desk, an Indigenous-led collaboration between Grist, Indian Country Today and High Country News. At the world’s largest gathering of indigenous leaders, women discuss how to hold financial institutions accountable for fueling climate catastrophe through investments in the extractive industry. Michelle Cook, Navajo, was among […]

Financial institutions

Lucknow: Five Arrested for Cheating Banks and Financial Institutions | Lucknow News

The defendants were identified as Sohail Khan (gang leader), Iqbal Khan, Rishit Srivastava, Rohit Srivastava and Sumit Sharma. LUCKNOW: Five disbelievers were arrested for deceiving banks and financial institutions by impersonating them and submitting false documents by an STF team from Lucknow on Wednesday. The accused were identified as Sohail Khan of Hasanganj (gang leader), […]

Financial institutions

KlariVis and Open Finance Leader MX Partner to Serve Financial Institutions with Data-Driven Insights

Image Powerful data tools and financial insights to generate additional revenue and growth opportunities with MXdata Featured image for KlariVis Featured image for KlariVis ROANOKE, Va., April 28, 2022 (GLOBE NEWSWIRE) — Klarivis, a fast-growing enterprise dashboard and analytics solution for the financial services industry, today announced a new partnership with MX Technologies, Inc., a […]

Financial institutions

Barclays hires Nomura’s Ed Skilton to lead coverage of UK financial institutions

Barclays has bolstered its investment bank with a senior trader from Nomura to lead its coverage of financial institutions in the UK. Ed Skilton is expected to join the British lender as global co-head of its Insurance Financial Institutions Group and Head of Financial Institutions Group for the UK, the bank said in a statement. […]

Financial institutions

Financial institutions donate funds to help Ukraine

As the Russian invasion of Ukraine continues, various financial institutions in Connecticut are donating substantial funds to help Ukrainians here and abroad. Liberty Bank, based in Middletown, recently announced that the Liberty Bank Foundation has approved a $25,000 grant dedicated to the American Red Cross of Connecticut to help lead humanitarian relief efforts in Ukraine […]

Financial institutions

Fiserv accelerates open finance and enables collaboration between financial institutions and fintechs with the launch of AppMarket

AppMarket enables financial institutions to offer fintech functionality as part of the banking experience BROOKFIELD, Wis., April 26, 2022–(BUSINESS WIRE)–Financial institutions can access a curated set of fintech solutions that can help them reach new customers, operate more efficiently and be more competitive with the launch of Fiserv’s AppMarket (NASDAQ: FISV), a leading global provider […]

Financial institutions

“Financial institutions should facilitate access to funds for businesswomen” | The Guardian Nigeria News

Ayobami Kareem is the Founder and Group Managing Director (GMD) of WhiteRose International Group, a trading conglomerate. Ayobami, who is famous for her exploits in the real estate industry, has carved out an enviable niche for herself as a high-flying entrepreneur. The success story of WhiteRose Properties, a subsidiary of WhiteRose International Group, continues to […]

Financial institutions

The modern bank heist is an endgame for financial institutions

(Source – Shutterstock) Financial institutions continue to be heavily targeted by cyberattacks. Despite their increased cybersecurity protections, the changing and evolving tactics of cybercriminals are making it more difficult for financial institutions to stay secure. According to VMware’s fifth annual report on modern bank robberies, 63% of financial institutions admitted to having experienced an increase […]

Financial institutions

NC man pleads guilty to bank fraud scheme and hits six financial institutions

(Photo: Pexels) WILMINGTON, NC (News Release) – A Cameron man pleaded guilty in federal court today to a bank fraud charge stemming from a scheme to defraud financial institutions in the Eastern District of North Carolina and elsewhere. According to court documents and information presented in court, Edward Wheeler is a staff sergeant assigned to […]

Financial institutions

Buffalo firefighter pleads guilty to illegally obtaining money from financial institutions

The Erie County District Attorney’s Office said Robert Johnson, Jr defrauded financial institutions on claims using a minor’s Social Security number. BUFFALO, NY — The Erie County District Attorney’s Office said a Buffalo firefighter pleaded guilty Tuesday to eight counts of fraud. Robert Johnson, Jr., 36, pleaded before his jury trial which was due to […]

Financial institutions

Most financial institutions in Asia need until 2023 to scrap Libor benchmark By Reuters

© Reuters. HONG KONG (Reuters) – Most financial institutions operating in Asia will take until next year to remove references to the benchmark Libor in loan agreements, according to an industry survey, although most iterations of the benchmark were discontinued at the end of 2021. The Asia Pacific Loan Market Association (APLMA) found that 54% […]

Financial institutions

Alpha Fintech Launches Fi911’s SaaS Intelligent Dispute Processing for Financial Institutions in Asia Pacific

Alpha Fintech Launches Fi911’s SaaS Intelligent Dispute Processing for Financial Institutions in Asia Pacific By Edlyn Cardoza Fi911, the leading litigation specialists and sister brand of Chargebacks911and Alpha Fintech, a FinTech pioneer aiming to scale and simplify payments, recently announced its partnership. APAC regional acquirers and PSPs will be able to take advantage of Fi911’s […]

Financial institutions

The government is forcing financial institutions to wake up

The crises of recent years tend to erase from memory those that preceded them. One, as you may recall, was the financial collapse of 2008, a collapse considered by many to be the worst since the Great Depression. That collapse brought to power a government like the one we have now: the White House and […]

Financial institutions

How Knox Wire Helps Financial Institutions Raise More Through an Additional Revenue Stream

As our society moves through the digital landscape, one of the sectors most directly affected is the financial realm. Integrate the growing popularity of cryptocurrency and you have a new ecosystem that demands a financial solution that evolves at the same breakneck speed. Enter Knox Wire, a revolutionary transfer service that is a modern product […]

Financial institutions

CBN warns against illegal financial institutions

The Central Bank of Nigeria has warned individuals to refrain from dealing with illegal financial schemes or illegal financial institutions that are not licensed or recognized by it. According to the bank, it does everything it can to stop all illegal financial institutions that are not recognized by it. The Director of CBN Communications Department, […]

Financial institutions

Interest-free financial institutions and NGOs should increase support for Muslim households

Fridaytime, April 082022 / 11:00AM / by Bukola Akinyele-Yisau for WebTV/Header image credit: EcoGraphic As Nigerians navigate the country’s challenging socio-economic indicators, especially during the 2022 Ramadan season, interest-free financial institutions (NIFIs) and major Islamic NGOs have called for increased support to Muslim households. Dr. Aliyu Dahiru, alexecutor to Bayero Universityy, Kano & Secretary, Association […]

Financial institutions

Saudi finance minister calls on Arab financial institutions to review their strategies

Crypto Moves – Ether Down; US Imposes Sanctions on Bitriver; Coinbase Launches NFT Marketplace RIYADH: Bitcoin, the leading cryptocurrency internationally, traded higher on Thursday, rising 0.25% to $41,533 as of 09:00 Riyadh time. Ether, the second most traded cryptocurrency, was priced at $3,082, down 0.29%, according to data from Coindesk. US imposes sanctions on crypto […]

Financial institutions

Budget closes loophole for financial institutions trading dividend-paying stocks

The federal government plans to change tax laws to remove relief for large financial institutions that benefit from complicated hedging strategies on dividend-paying stocks. The budget released Thursday calls it the “double dip loophole,” which allows certain Canadian financial institutions to use “hedging and short-selling arrangements in aggressive tax planning strategies.” By closing the loophole, […]

Financial institutions

“Only frequent financial institutions regulated by the CBN” – The Sun Nigeria

the The Central Bank of Nigeria (CBN) has advised citizens to only patronize financial institutions under its regulation to avoid being duped by scammers. Its Corporate Communications Department Manager, Mr. Osita Nwanisobi, gave his advice at the CBN fair in Akure on Thursday. Nwanisobi said that every Nigerian had a role to play in stopping […]

Financial institutions

CBN warns Nigerians against Ponzi schemes and illegal financial institutions

From Bamigbola Gbolagunte, Akure The Central Bank of Nigeria (CBN) has warned Nigerians against frequenting illegal financial institutions just as it has renewed its stance against Ponzi schemes. The bank’s General Affairs Manager, Mr. Osita Nwanisobi, gave the warning on Thursday in Akure, the capital of Ondo State, while declaring open a two-day fair labeled […]

Financial institutions

Iran exploits gullible financial institutions

For more than 40 years, major democracies, including the United States and members of the European Union and international organizations such as the United Nations, have worked to thwart Iran’s regional ambitions by obstructing access of the regime to the international financial system. The toughest and most extensive sanctions imposed since the 1979 Islamic Revolution […]

Financial institutions

Biden announces sanctions against Russian financial institutions, Putin’s daughters and others

CNN — President Joe Biden says ‘major war crimes’ are being uncovered in Ukraine as Russian forces retreat from areas around kyiv, citing scenes of brutal, cold-blooded executions as justification for tightening US sanctions against Moscow. ‘Responsible nations must come together to hold these perpetrators accountable,’ Biden told a union crowd in Washington as the […]

Financial institutions

Financial institutions will face a higher penalty for cyberattacks and disruptions under new bill

SINGAPORE — Financial institutions could face stiffer penalties for a cyberattack or disruption of essential services if a new bill passes parliament. Today, financial institutions rely heavily on technology to deliver financial services, Monetary Authority of Singapore (MAS) Board Member Alvin Tan told Parliament on Monday (4 April) at the second reading of the bill […]

Financial institutions

Financial institutions and the problems they cause with your aging parents’ funds

The legal profession invites you to do your estate planning. They draft wills, trusts, and empowering documents such as enduring powers of attorney and advance health care directives. Responsible people with means usually achieve this. What they and the lawyers they hire apparently don’t think about is what happens when the client, who may be […]

Financial institutions

How Community Financial Institutions Can Take Technology to the Next Level in 4 Steps

By Gabe Krajicek, CEO of Kasasa Community financial institutions (CFIs), such as banks and credit unions, have always been the backbone of the communities they serve. Right now they are taking on challenges with perception, technology and marketing. While many CFIs offer phenomenal personalized service, many consumers feel they lack the technology and innovation they […]