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Protecting customers from scams is a significant challenge for financial institutions. Recent guidance urges us to be proactive in identifying and assisting those most at risk. With IFM, you can spot at-risk customers early, put the right measures in place, and cut down on successful scams.   IFM evaluates customers comprehensively, assigning a scam vulnerability score based on: 1. Life Events: Big changes like divorce, job loss, or retirement. 2. Resilience: How well they can handle financial or emotional shocks. 3. Capability: Their financial knowledge and confidence. 4. Behavior: Patterns in their transactions.   Curious to learn more? Download the datasheet now to get all the details. Download Now: https://lnkd.in/eqJNZZMw   #FraudPrevention #FinancialSecurity #ScamVulnerability

The CFPB's proposed rule on personal financial data rights could reshape the financial landscape. While the proposal aims to empower consumers with greater control over their financial data, it also places a greater emphasis on data security and compliance for financial institutions. IMS understands the evolving regulatory landscape and offers comprehensive solutions to help FIs navigate these changes. Our expertise in data protection, including robust backup and recovery measures, can help ensure that your institution remains compliant and protects sensitive customer information. #OpenBanking #DataSharing #CFPB #DataSecurity #Compliance

Big changes from the CFPB! Consumers now have greater control over their financial info. Learn how IAM enables secure, consent-driven data sharing in our latest blog-post. #finserv #openbanking https://ow.ly/bvCz50TUHlH #PingIdentity

Announcing ExCo, by i3strategies®️ Introducing a newly formed council focused on driving positive changes across the financial crime risk and compliance space. ExCo was created in early 2024 by a small group of former BSA Officers who recognized a need for a platform to promote necessary change in the financial crime risk and compliance space. Collective thoughts from extremely accomplished and experienced BSA Officers could drive change in areas like legislation, policy, and technology adoption. Throughout 2024, the ideas, purpose, and objectives of ExCo have taken shape and evolved from an initial four into 15 founding members today. Newswire Press Release ⇢ https://lnkd.in/gNQZgPYn

🚨 Protecting yourself from financial scams is more critical than ever! 🚨Scammers use sophisticated tactics, such as bogus routing numbers. To stay safe, always verify your bank account and routing number information with your financial institution. 🏦 👮♂️ Be skeptical of offers that seem too good to be true, and stay informed through reliable sources. 🥇 Lyons Commercial Data provides robust solutions to safeguard your financial transactions, including a comprehensive routing number database and ongoing education on the latest scams. Learn more and schedule a demo here: https://lnkd.in/eNazenP4

The CFPB has issued a final rule under Section 1033 of the CFPA, requiring certain financial institutions to provide consumers and authorized third parties with access to covered data in a standardized electronic format. Key changes include new exemptions for small depository institutions, detailed requirements for data interfaces, and limits on third-party data collection and retention. The rule also outlines a process for standard-setting bodies to gain CFPB recognition and prohibits data providers from interfering with consumer access. Financial institutions should stay informed about the ongoing legal challenge and developing standards. #CFPB #FinancialDataRights #rule1033 #orrick

🔐 Make informed credit decisions with Risk Verify Database (rVd). Access crucial data to mitigate financial risks. 🏦 Learn more here: https://hubs.la/Q02VtSk-0 #RiskManagement #CreditDecisioning

Boost your financial security today: Learn 5 essential strategies for how API protection can reduce fraud and build customer confidence! 💳🔒 https://lnkd.in/gDiHSX9R #boostyourfinance #financialsecurity #apistrategies #customerconfidence #fraudreduction

📣 Join our next complimentary #webinar where industry experts Kim LaBarbiera, JD, LLM, CAMS, CTPRP, Casey L Ryder and Warren Smith MBA, ACPM will discuss "Master Third-Party Data Management for Robust Security in Financial Institutions". 💡 We will delve into the importance of comprehensive contract management and ongoing monitoring to uphold regulatory compliance and safeguard sensitive data from potential threats. 📅 Click here to register for the live session: https://lnkd.in/dFt-k4w2 #thirdpartyriskmanagement #riskmanagement #operationalresilience #financeleaders #finance #bankingandfinance #technolgy #banking

This is actually quite interesting : BMO has been protecting the privacy of their customers’ financial information for over two centuries. At one time, this included having financial data that was shared between branches concealed using specialty code books. Learn more: http://spr.ly/6002UITYa #ProudToWorkAtBMO