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The FedNow Service, which went live this month, is the new instant payments infrastructure developed by the Federal Reserve to enable real-time payments between all financial institutions on behalf of their customers or members. However, some banks and credit unions are waiting to adopt FedNow until kinks in the system are worked out. Ultimately, the faster payment method could easily replace ACH, check, and card payments.

The payment rail has some built-in anti-fraud capabilities, and fraud and AML/CFT staff can take several steps during their institution’s FedNow implementation to combat and reduce fraud. Read this whitepaper to learn:

Global sanctions are an essential tool that governments use to address international security threats, combat terrorism, prevent money laundering, and curb illicit activities. These sanctions typically involve restrictions or prohibitions on specific individuals, entities, or countries, limiting their access to international financial systems. Considering the current economic and political environment, it is crucial that financial institutions maintain a strong sanctions compliance program (SCP).

The release of the FinCEN Files in 2020 detailed the extraordinary amount of illicit funds flowing through our financial institutions from kleptocrats, international money launderers, and terrorists. Greater regulatory scrutiny has been placed on transactions to and from sanctioned countries, individuals, and entities, and it is expected to continue as a hot topic for examiners, especially as the situation with Russia escalates. In 2019, OFAC issued new guidance on the essential components of a strong OFAC compliance program. Now more than ever, the guidance is an important tool in creating an effective SCP.

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Risk management is at the very core of the business of banking. It’s also a fundamental differentiator between financial institutions. Institutions that identify, measure, and manage risk most effectively will outperform their peers in terms of financial performance while also maintaining safety and soundness. This is especially true during economic downturns, when institutions may confront increasing credit risk in their loan portfolios as well as liquidity risk, interest rate risk, and pressure to maintain appropriate capital levels.

This whitepaper will take a closer look at some of the existing risk management practices employed by financial institutions today and the areas of overlap and interaction between them.

The pandemic triggered a distinct change in monetary policy that has had profound effects on the financial services mergers and acquisitions (M&A) environment. Marks on acquired assets and liabilities are moving in parallel with the increases in interest rates. The Federal Reserve’s continued effort to rein in inflation has created additional uncertainty. Consequently, deal values are likely to continue showing very different results between the initial due diligence process and the completion of a transaction.

This whitepaper describes key trends we have observed in the valuation of loan portfolios, core deposits and the related intangible, time deposits, and debt instruments.

In this whitepaper you will learn:

Increasing loan review demands and limited loan review staff are resulting in increasing use of workflow automation software, according to Abrigo’s 2022 industry survey.  But the survey also revealed a disconnect between the objectives of loan review and how those objectives are carried out. With respondents from banks in the $1 billion to $100 billion asset range, this survey highlights some of the key challenges that loan review teams face and the strategies they are employing to meet them.

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The dark web is ground zero for check fraud. There, criminals buy and sell stolen checks, then use them to defraud your financial institution and customers. Abrigo and Q6 Cyber, a leading e-crime intelligence provider to financial institutions, examine the true costs of a stolen check, and how financial institutions can fight the surge in check fraud proliferating on the dark web.

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Take a look at the other check fraud resources from Abrigo 

Check fraud is surging in 2023. While check fraud has been around since the first checks were used hundreds of years ago, the internet and social platforms have made it easier to access and find buyers for stolen checks ever since. Preventing check fraud at a financial institution begins with frontline staff training and extends to using fraud detection software. Understand the red flags indicating a check has been tampered with and the warning signs that customers have fallen for a scam. Stay up to date with check fraud trends to bolster security and safeguard the financial institution and its customers or members.

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  • The prevalence of check fraud in the digital age
  • The methods used to procure and cash stolen checks
  • Organization- and staff-level measures to address check fraud

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Industry insiders review common risk factors

Every year, thousands of contractors face bankruptcy and business failure, whether in business for two years or 20. These firms leave behind unfinished private and public construction projects—and billions of dollars in losses that fall to project owners and taxpayers. In this whitepaper, learn what industry insiders see as the four main causes of contractor failure.

You will learn:

Banking cybersecurity is a top internal challenge, a recent survey shows, and for good reason. Risks are prevalent and far-reaching, but defending against cybercriminals starts with safeguarding the bank or credit union itself and extends beyond using fraud detection software. Understand the threats, their nature, and recommended actions to bolster cybersecurity and safeguard the financial institution and its customers or members.

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Banks and credit unions still working on CECL implementation can learn from the experiences of financial institutions that have already adopted the accounting standard and from peers still in the process. To that end, Abrigo in mid-2022 surveyed financial institutions to assess their progress with CECL implementation. It is the fourth such survey since 2017 by Abrigo, which has worked with hundreds of financial institutions on CECL implementation.

Download the 2022 CECL Survey to learn:

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