Jason Kratovil
Jun 17, 2022

Scams to boost scores cause significant losses for banks and consumers alike — and the financial system is ill-equipped to fix it.

For banks of all sizes, the issue of the moment is this: Every banker is busier than ever.

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The Winter Olympics recently closed in Pyeongchang, South Korea, and the World Cup kicks off this June across Russia.

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Attorney Michael Dailey has tough decisions to make when he advises his bank clients how to adhere to the Department of Labor’s (DOL) regulations on fiduciary responsibilities.

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Todd Kleperis heads an organization that uses unmarked armored vehicles and heavily-armed men (including veterans) to shuttle bundles of marijuana and bags of cash throughout southern California.

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In light of 2017’s most severe breaches—from Equifax to Deloitte—it’s no surprise to see companies rethink their cybersecurity posture.

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“Illicit actors,” notes says Scott Swanson, a financial crimes investigator with a big-four accounting firm, “run around the Bank Secrecy Act like it is a chained, aged, and toothless junk yard dog.

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Four letters—CECL—may signify one of the most profound revolutions in financial services since FDIC.

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Over the past several years, third-party oversight (or vendor management) has grown exponentially in importance and as a subject of regulatory focus.

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A sophisticated crime where thieves install malicious software and/or hardware at ATMs—and force the machines to spit out up to 40 bills every 30 seconds—has for some time threatened banks in Europe and Asia.

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No institution has as much influence over price levels as the Federal Reserve Board of Governors—which also acts as the country’s paramount financial regulator.

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Compliance, so often followed by the rulebook, also needs a playbook: one that gets everyone on board, from the C-suite to the front-line employees who deal with customers.

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Five decades after they were first unveiled in Swinging London as marvels of secure, cash-dispensing convenience, automatic teller machines are more vulnerable than ever—thanks to a wide array of attacks that include skimming devices, malware, intercepted communications, outright theft of the machines—and a new technique known as “jackpotting.

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Banking executives are busy preparing for the most significant accounting change in their careers: CECL, the Financial Accounting Standards Board’s (FASB) new Current and Expected Credit Loss model.

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The Hermit Kingdom, nuclear armed and firing off ballistic missiles, is estranged from the rest of the world and cut off from trade.

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Figuring out the ones and zeros of banking—and doing it expertly—has historically separated those who’ve won from the zeroes.

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Massive breaches in the finance industry have moved banks to wake up—albeit slowly—and view security in a different light.

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To create operating leverage or grow revenue faster than expenses represents the essence of business.

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For many financial institutions, information security awareness programs are a regulatory requirement.

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When it comes to keeping your money safe, even the much-vaunted blockchain is no panacea, says Moran Cerf, a guy who knows a thing or two about cracking security.

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Many bankers know the significance of crossing the $1 billion asset threshold, whether through organic growth or merger/acquisition.

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