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

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 […]

Financial institutions

HSAPAY Plus Q2 Marketplace offers financial institutions rapid implementation of P2P payment infrastructure for Health Savings Accounts (HSA)

Tacoma, WA, April 02, 2022 — (PR.com) — The creators of the only mobile Peer-2-Peer donation platform for healthcare accounts, HSAPAY, today announced that it has been selected by Q2 Solutions, (listed on the New York Stock Exchange), to bring its healthcare payment infrastructure software to their Q2 partner market. The Q2 integration marks an […]

Financial institutions

Oakland groups urge local financial institutions to order Maya Angelou Quarter at US Mint

By Antonio‌ ‌Ray‌ ‌Harvey‌, CA‌ ‌Black‌ ‌Media‌ Black women running for political office at all levels in the state of California showed strong in the June 7 primary elections. They captured the minds and hearts of various groups of Californians and pulled in the numbers they needed to secure places on the November general election […]

Financial institutions

rbi: Financial institutions should be board driven : RBI Dy Guv Jain

Mumbai: Financial institutions should be run by a board and not end up being dominated by individuals as this could have undesirable consequences, Reserve Bank Deputy Governor MK Jain has said. In his keynote speech at CAFRAL, a center promoted by RBI, he stressed that an efficient and dynamic financial system is crucial for the […]

Financial institutions

Financial institutions face cyberattacks from nation-state actors amid political unrest

Nearly 90% of IT security professionals surveyed by Trellix and CSIS say they believe they have been targeted by state actors. Pictured: Mourners mourn Ukrainian servicemen during a funeral service at Lychakiv Cemetery on March 28, 2022 in Lviv, Ukraine. (Photo by Joe Raedle/Getty Images) As open warfare rages in Ukraine, Russia’s long-promised cyberattacks are […]

Financial institutions

Enhanced standards for financial institutions

Jhe Reserve Bank of India (RBI) has gradually aligned the regulations applicable to banks and non-banking financial companies (NBFCs). In addition to implicitly recognizing that NBFCs are rapidly closing the gap with banks in terms of their systemic importance in extending credit, such alignment also aims to minimize regulatory arbitrage. In October 2021, the RBI […]

Financial institutions

Financial institutions must seize the opportunity as BaaS momentum strengthens

There is no doubt that Banking as a Service (BaaS) is an incredibly exciting opportunity for the entire financial services ecosystem. Financial institutions can reach more customers at a significantly lower cost, and distributors can open up new revenue streams while building closer relationships with their customers. A recent study by Finastra – which surveyed […]

Financial institutions

What can banks and financial institutions do?

We believe the central bank will come up with pragmatic targets for banks and financial institutions to reduce carbon emissions to achieve sustainability in line with the global banking industry. For all the latest news, follow the Daily Star’s Google News channel. The increase in greenhouse gas (GHG) emissions, air and water pollution, the eruption […]

Financial institutions

Application of Fatca to Financial Institutions in UAE – News

Usually, depository institutions like banks, custodial institutions like mutual funds, investment entities like hedge funds or private equity funds, and certain types of insurance companies that offer products cash value or annuities are required to comply with Fatca Once deemed compliant or exempt, there would not be too much work hassles which will reduce costs […]

Financial institutions

New Senate bill targets financial institutions that ‘fuel climate risk’

Federal financial institutions and federally regulated entities should align their investment activities with Canada’s climate commitments under Bill S-243, the climate-responsive finance act introduced yesterday in the Senate by Senator Rosa Galvez (ISG-Quebec). “We have to deal with the elephant in the room: our financial system continues to fund activities that fuel climate risk,” Galvez […]

Financial institutions

Financial Institutions Urged to Build Strong Cyber ​​Defense Systems | The Guardian Nigeria News

As financial institutions fend off cyberattacks, experts say banks are vulnerable because they lack technologies that could be deployed to ensure customer transactions and assets are secure. Speaking at a financial services cybersecurity workshop held in Lagos, Managing Director of ActivEdge Technologies, George Agu, said it was time for banks to deploy zero-trust security to […]

Financial institutions

Department of Financial Institutions: Wisconsin passes new rule requiring continuing education for investment advisor representatives

MADISON, Wis. – The Securities Division of the Wisconsin Department of Financial Institutions (DFI) today announced the publication in the Wisconsin Administrative Code of CR 21-057, creating the administrative rule of DFI-Sec Chapter 11 which requires both state and federal registration. covered representatives of investment advisers to attend annual continuing education. The new rule comes […]

Financial institutions

Redefining cyber defenses for financial institutions

According to BCG, cyber threats are 300 times more likely to target the broader financial services industry than businesses in other industries. Whether attackers attempt to access financial information, impersonate customers, commit fraud, or hold critical files for ransom, compromise is inevitable. Detecting and stopping active attack campaigns is more important than ever. To keep […]

Financial institutions

FinCEN Issues Several Real Estate-Related Alerts to Financial Institutions to Be Vigilant of Efforts to Evade US Sanctions | Seyfarth Shaw LLP

On March 3, 2022, we published an article titled The Effect of US Sanctions on Russia on Commercial Real Estate Documentation (there “Article by Seyfarth”) who discussed a number of different ways that U.S. people in real estate can undertake due diligence to ensure that they do not engage in transactions with companies and individuals […]

Financial institutions

Russians have over US$2 billion in Bahamian financial institutions

The Central Bank of the Bahamas (CBB) says international banks and trust companies operating here hold more than $2 billion in ‘assets on deposit or in trust’ with ultimate beneficial owners from or related to Russia . In a statement, the CBB said that earlier this month, the Bahamian Financial Services Regulators Group issued a […]

Financial institutions

California DFPI Issues Guidance to Financial Institutions Regarding Russia Sanctions | Goodwin

On March 4, 2022, the California Department of Financial Protection and Innovation (DFPI) reminded its financial institution licensees of their obligations in light of the Russian invasion of Ukraine: to comply with sanctions against Russia and using safeguards to protect against attempts to use virtual currency transfers to evade sanctions and mitigate cybersecurity threats. However, […]

Financial institutions

Hong Kong: “Some of our financial institutions are losing patience”

Hong Kong leader Carrie Lam has publicly admitted that tolerance is waning at some financial firms in the city and flagged a potential easing of Covid restrictions. Hong Kong general manager Carrie Lam highlighted the mounting pressure on the city’s reputation as a financial center during a press briefing yesterday. “I have a very strong […]

Financial institutions

Capital Markets (Conduct of Financial Institutions) Amendment Bill Update

Yesterday the MBIE published details of the Cabinet decisions that have been taken regarding the future of the Capital Markets (Conduct of Financial Institutions) Amendment Bill (COFI) and related regulations. Amendments to the bill will be incorporated via a supplementary order paper, with the aim of passing the bill by mid-2022. In the context of […]

Financial institutions

FinCEN urges vigilance of financial institutions in anticipation of Russian sanctions evasion attempt | Troutman pepper

Following significant sanctions and other restrictions imposed by the United States and its global allies following the Russian Federation’s invasion of Ukraine, the Financial Crimes Enforcement Network (FinCEN) has issued an alert (FinCEN Alert) on March 7, advising financial institutions how to identify and report potential attempts to evade sanctions. The FinCEN Alert provides a […]

Financial institutions

FCA warns UK financial institutions of UBO membership

After the start of the Ukraine crisis, the FCA sent letters to all UK financial institutions, warning them that the new economic bill will be accelerated. This bill includes a new register, which means that foreign owners of property in the UK must declare and verify their identity with Companies House. The aim is to […]

Financial institutions

CBN warns Nigerians against unlicensed financial institutions

As part of efforts to curb the fraudulent financial activities of some dubious figures, the management of the Central Bank of Nigeria (CBN) has warned the public to stop patronizing unlicensed institutions in the country. CBN Governor Mr. Godwin Emefiele issued the warning in Yola on Thursday at the Central Bank of Nigeria Fair 2022 […]

Financial institutions

‘Financial institutions are losing patience’ with Hong Kong, admits Lam

Thursday, March 17, 2022 8:42 a.m. People stand in front of an electronic screen showing the Hang Seng Index in Hong Kong’s Central District (ISAAC LAWRENCE/AFP) (Photo by ISAAC LAWRENCE/AFP via Getty Images) Hong Kong’s leader today admitted that the city’s controversial ‘Zero-Covid’ restrictions are blocking businesses and wearing down its people. Carrie Lam has […]

Financial institutions

EBA calls on financial institutions to facilitate access to basic payment accounts for refugees

The European Banking Authority (EBA) strongly condemns the recent developments which weigh heavily on the Ukrainian state, society and economy. Following the invasion of Ukraine, the Council of the EU adopted restrictive measures against Russia and Belarus which require action by the financial sector. The EBA is working with the competent authorities to ensure the […]

Financial institutions

Biden’s climate alarmist nominees send chilling message to financial institutions and energy industry

“We want them to go bankrupt if we want to fight climate change.” “…tThe way we basically get rid of these carbon financiers is to deprive them of their source of capital.” “Financial regulators need to rethink their own role in order to be able to play their part in the broader reinvention of the […]

Financial institutions

FinCEN urges vigilance from financial institutions ahead of Russian sanctions evasion attempt

Following significant sanctions and other restrictions imposed by the United States and its global allies following the Russian Federation’s invasion of Ukraine, the Financial Crimes Enforcement Network (FinCEN) has issued an alert (FinCEN Alert) on March 7, advising financial institutions how to identify and report potential attempts to evade sanctions. The FinCEN Alert provides a […]

Financial institutions

European financial institutions turn their backs on Russia

RIYADH: As UAE and Saudi Arabia aim to reach net zero by 2050 and 2060, Gulf Cooperation Council region is a place of innovation, says Wärtsilä Energy Global Chairman Sushil Purohit in an interview with Arab News. Due to the addition of nuclear and solar power to the national grid, the UAE is expected to […]

Financial institutions

Swiss Re and other European financial institutions turn away from Russia – SABC News

Swiss Re said on Monday it was not accepting new business with Russian and Belarusian customers and was not renewing existing business with Russian customers as European financial institutions turned their backs on Russia. The global reinsurer joins banks such as Deutsche, Goldman Sachs and JPMorgan Chase that left Russia after its Feb. 24 invasion […]

Financial institutions

FG closes illegal online financial institutions and freezes company accounts

On Friday March 11, the federal government raided and shut down the operations of some illegal online banks. The Federal Competition Consumer Protection Commission (FCCPC), in conjunction with the Independent Corrupt Practices and Other Related Offenses Commission (ICPC), the National Information Technology Development Agency and the Nigerian Police, raided offices of financial institutions operating on […]

Financial institutions

Which financial institutions offer contactless cards?

Contactless cards allow you to make a purchase by tapping your card on a reader. Our list includes banks and credits that offer contactless cards. Contactless cards are secure and have a faster transaction speed than other cards. Read more stories from Personal Finance Insider. Loading Something is loading. If you’ve used cards frequently for […]

Financial institutions

FinCEN warns financial institutions against evading Russian sanctions | Item

The Financial Crimes Enforcement Network (FinCEN) released guidance on Monday outlining the types of red flags banks should proactively look for. Although the agency has yet to find widespread circumvention of sanctions, it warned financial institutions to remain vigilant. Besides Russia, the country of Belarus and some of its political leaders have been hit with […]

Financial institutions

PM Modi asks financial institutions to come up with futuristic ideas to fund emerging economic needs

Prime Minister Narendra Modi also said that if banks give priority financing to exporters Prime Minister Modi also pushed bureaucrats to come up with “workable solutions” to implement the Union budget proposals 2022-2023. PTI New Delhi Last update:March 08, 2022, 2:22 p.m. HST FOLLOW US ON: Prime Minister Narendra Modi on Tuesday asked financial institutions […]

Financial institutions

Cambodia launches code of conduct for banks and financial institutions

Cambodia has launched a code of conduct for banking and financial institutions, aimed at promoting efficient, reliable, accountable and accountable banking and financial practices, a joint statement said on Monday. Initiated by the Banking Association of Cambodia (ABC), the Cambodian Microfinance Association (CMA) and the Cambodian Finance and Technology Association, the code was designed to […]

Financial institutions

financial institutions: Modi asks financial institutions to come up with futuristic ideas to fund emerging economic needs

Prime Minister Narendra Modi on Tuesday called on financial institutions to consider innovative financing and risk management systems to support new futuristic ideas to meet the emerging needs of the economy. Stating that implementing green finance is the “need of the hour” to achieve the goal of net zero carbon emissions by 2070, Modi said […]

Financial institutions

UAE and UK launch toolkit to help financial institutions tackle illicit financial flows in illegal wildlife trade

The toolkit provides key guidance for institutions in combating the illegal wildlife trade, from large institutions with large compliance departments to smaller institutions with less experience or fewer resources in combating this trade. . Al Sayegh said: “The illegal wildlife trade is an inherently important aspect of illicit financial flows. Partnership between the private and […]

Financial institutions

Illegal wildlife trade: UAE and UK launch toolkit to help financial institutions tackle illicit financial flows – News

The illegal wildlife trade is the fourth largest organized crime and costs $23 billion a year. UK to UAE/Twitter By WAM Published: Mon 7 Mar 2022, 1:17 PM The UAE government has worked with the UK government to launch a toolkit to help financial institutions tackle illicit financial flows in the Illegal Wildlife Trade (IWT). […]

Financial institutions

US warns financial institutions to be on the lookout for Russian sanctions evasion

WASHINGTON, March 7 (Reuters) – The United States warned financial institutions on Monday to be wary of potential attempts to circumvent Russian sanctions following a series of sanctions imposed by Washington on Russia for its invasion of the Ukraine. The Financial Crimes Enforcement Network (FinCEN) issued an alert on Monday advising all financial institutions to […]

Financial institutions

Visa and Mastercard block Russian financial institutions

US payment card companies Visa Inc VN and Mastercard Inc MA.N have blocked several Russian financial institutions from their network, complying with government sanctions imposed following Moscow’s invasion of Ukraine. Visa said Monday it was taking swift action to ensure compliance with applicable sanctions, adding it would donate $2 million for humanitarian relief. Mastercard also […]