Beware of These Three Trending Payment Fraud Activities
So many changes occur in the global payments industry every day that many (if not most) merchants find it difficult to keep up with the strategies needed to protect themselves from the consequential losses. Business owners who understand the origins of most fraudulent activity, however, do have an opportunity to reduce their exposure. Adopting new […]
LYONS COMMERCIAL DATA TO EXHIBIT AT 2018 NACHA PAYMENTS CONFERENCE
JACKSONVILLE, FL – April 17, 2018 – Lyons Commercial Data, a leading provider of U.S. financial institution data and risk management solutions, has announced that they will be exhibiting at the NACHA PAYMENTS conference. The conference takes place April 29th – May 2 at the San Diego Convention Center in downtown San Diego, CA. For nearly […]
The Benefits of Instant Account Verification
Today’s consumers move fast. With all of the computing power of a desktop tucked away in nearly every pocket, today’s businesses can’t delay basic transactions. The longer it takes to make a purchase from one vendor, the more likely they are to finish buying somewhere else.
Is OFAC Screening Enough?
In this era of global commerce, it can be difficult to know the specific details of every client with whom one does business. Federal law actually prohibits transactions with certain companies, businesses and individuals in order to limit nefarious activity. However, many U.S.-based entities fail to do the full due diligence to ensure compliance with […]
What is RegTech? A Definitive Guide on Regulatory Compliance Technology
The newest iteration of FinTech, regulatory technology, or RegTech, is a series of services designed to help financial institutions navigate the increasingly murky waters of regulation. After the 2008 crash, regulators focused on banks and other financial institutions, tightening restrictions on many aspects of banking and lending. With the rules constantly changing, financial institutions need […]
Minimize Onboarding Risks with Fraud Prevention and OFAC Screening
The federal government issues sanctions against foreign-based governments, people and companies that break the American laws prohibiting terrorist activities, narcotics or human trafficking. Once those sanctions are in place, the government also prohibits American companies and individuals from doing business with the sanctioned entities. The OFAC — Office of Foreign Assets Control, a division of […]
Understanding the OFAC: Sanctions and Compliance
The Office of Foreign Assets Control (OFAC) has many tools available to control the assets of foreign-born persons or foreign countries whose policies or activities threaten U.S. interests. Entities that engage with off-shore business enterprises should ensure that their partners are not included on any of the OFAC sanctions lists and that their activities are […]
The Complete Guide to OFAC
Today’s turbulent world is an indication of the differences that exist between cultures and communities. Sometimes, these conflicts are uncomfortable but tolerable. Other times, the disputes are so egregious or offensive that governments elect to sanction the official bodies responsible for the challenges. When the U.S. government imposes sanctions on a foreign entity, the Office […]
Lyons Commercial Data to Exhibit at the 2018 ABA National Conference for Community Bankers
JACKSONVILLE, FL – February 19, 2018 – Lyons Commercial Data, a leading provider of U.S. financial institution data and risk management solutions, has announced that they will be exhibiting at the 2018 ABA National Conference for Community Bankers. The conference takes place this month, from the 25th to the 28th, at Hilton Hawaiian Village® Waikiki […]
Resolving Common Challenges with ACH Processing
Every business wants to increase profitability while reducing losses, and Automated Clearinghouse (ACH) payments processing promises to accomplish both those goals. Using the service requires an enhanced understanding of the underlying technology, however, so a little learning before implementation can prevent future challenges, or at least reduce their severity.