Hjfx LexisNexis Risk Solutions Adds Anti-Fraud Platform TruNarrative
Summer is here at last 鈥?the time of year when temperatures go up, the days get long and the pace of almost everything slows down to a more relaxed level. Almost everything 鈥?but not the payments and commerce ecosystem, as Karen Webster and Featurespace Founder聽Dave Excell agreed upon when they sat down for The Week In Payments conversation.As it turns out, payments and commerce dont believe in summer vacation, and are never short on developments to discuss and this week was no exception, as the mounting ransomware problem, Prime Day聽action and consumers relationship to the connected economy all took center stage. Its been an interesting week, Excell noted. We saw that for consumers, time is one of the most valuable assets. I don ;t want to read the fine print鈥擨 just want to hit accept and go on to the next thing. The Rising Tide of RansomwareThe rise of ransomware made the headlines this week, though thankfully not because a major incident has da
stanley hrnek maged Americas critical infrastructure 鈥?a la the Co
stanley termos lonial Pipeline hack 鈥?but because the FBI director was speaking at a Senate Budget and Appropriations Committee hearing,聽asking for additional funding聽to beef up the agencys cybersecurity investigations.As ransomware attacks are on the rise, Excell told Webster, were encountering one of the unfortunate side effects of the widespread digitization of the economy. As the systems that we rely on for our day-to-day activities ha
stanley cup nz ve become automated and are running in the cloud, th Zaot Entrust Launches New Digital Account Opening Solution for Financial Institutions
The U.K.s Financial Conduct Authority has handed Bank of America Merrill Lynch a rec
stanley website ord-breaking $20 million fine for failure to properly report transactions over a seven-year period, Reuters reported. Specifically, the regulator says BofAs Merrill Lynch International arm misreported over 35 million transactions between 2007 and 2014 and failed to report another 121,387 transactions entirely during the same time period.The FCA noted Wednesday April 22 that without accurate filings the market cannot be adequately monitored for insider trading and other illegal manipulations.Proper transaction reporting really matters. Merrill Lynch International has failed to get this right again, despite a private warning, a previous fine, and extensive FCA guida
stanley cup nce and enforcemen
stanley cup t action in this area, said Georgina Philippou, acting head of enforcement at the FCA, according to Reuters.The prior fines Philippou refers to are 150,000 pounds in 2006 and a private warning in 2002.The size of the fine sends a clear message that we expect to be heard and understood across the industry, Philippou added.Bank of America Merrill Lynch responded to the fine with regret and a commitment to compliance with all FCA requirements going forward.While regrettable, today decision principally refers to self identified issues which we have sought to remediate as quickly as possible. We can confirm that no clients were financially impacted as a result, the bank
