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Austin, TX – August 4, 2020 — The Association of Certified Fraud Examiners (ACFE), the world’s largest anti-fraud organization and leading provider of anti-fraud training and education, is pleased to award Shannon Bloom, of Melbourne, FL, the globally preferred Certified Fraud Examiner (CFE) credential. In order to become a CFE, Bloom has met a stringent set of criteria and passed a rigorous exam administered by the ACFE.
Scandal-plagued German FinTech pioneer Wirecard counted among its payments processing clients an online casino that laundered money for an arm of “one of Europe’s most dangerous mafia organizations,” the Financial Times reported on Monday (August 3). The paper cited documents and “Italian legal sources” in its story about the organized crime syndicate ’Ndrangheta and CenturionBet, an online gaming company based in Malta.
Let’s face it: everybody makes mistakes. So, if you make a mistake on an employee’s Form W-2, don’t panic. Instead, learn how to correct a W-2 form and take action. You can correct Form W-2 even after filing it with the Social Security Administration (SSA). Read on to learn types of common W-2 errors and […]. The post How to Correct a W-2 Form If You Make a Mistake appeared first on Patriot Software.
PPP Loan Forgiveness Updates Webinar Come join our webinar to get more information on the PPP loan forgiveness process. We will show you what the updated eligible expenses are, cover the new Paycheck Protection Flexibility Act, go through the new Interim Final Rule, and walk you through the rules for loan forgiveness. We want to. The post PPP Loan Forgiveness Updates – Live Webinar appeared first on CPA firm in Orange County, CA | CAPATA.
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
Austin, TX – August 4, 2020 — The Association of Certified Fraud Examiners (ACFE), the world’s largest anti-fraud organization and leading provider of anti-fraud training and education, is pleased to award Shannon Bloom, of Melbourne, FL, the globally preferred Certified Fraud Examiner (CFE) credential. In order to become a CFE, Bloom has met a stringent set of criteria and passed a rigorous exam administered by the ACFE.
Companies that have filed for Chapter 11 bankruptcy are using the court protection to end long-term lease agreements early and close thousands of stores, reported Bloomberg. The news site named Neiman Marcus Group Inc, Brooks Brothers Group Inc, J.C. Penney Co., J. Crew Group Inc. and the owner of Ann Taylor as companies looking to use this protection to avoid lease renegotiations and even back out of rent obligations altogether.
As companies adjust to their new normal under COVID-19 and most put revenue recognition accounting implementation in their rearview mirror, lease accounting arises once again as a hot topic. Businesses have either already implemented the largest overhaul in lease accounting in decades, Accounting Standards Codification (ASC) Topic 842, or they have taken advantage of effective date delays and continue to operate under ASC Topic 840 until calendar year 2022.
Balance sheet. An overview of your business’s financial position on the day the statement is generated. Assets – Money in the bank, property, and equipment owned by the company. Liabilities- Money you owe other people (loans, taxes, rent, etc,). Equity – Money currently held by the company (retained earnings, operating capital, stock). Equity – Liabilities = Assets.
The past several years have been good times for digital banking players popping up to challenge traditional brick-and-mortar financial institutions for market share, but recent months have accelerated that trend into overdrive. Consumers worldwide are realigning their entire lives around digital — and looking for financial services providers to meet their new, emerging lifestyles.
Earlier this week, Treasury and the SBA issued a 10 page FAQ on loan forgiveness. Congress is also considering another stimulus act. The Good News In general, payroll costs paid or incurred during the covered period may be forgiven. Payroll costs are subject to two limitations: one based on a […]. The post Part VIII – PPP Loan Forgiveness: Good News, Bad News, and Oh, What a Surprise.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
If it wasn’t bad enough already that a deadly virus is sweeping the globe, turns out criminals and ne’erdowells alike are still trying to steal money from hardworking Americans. Luckily, the IRS has an excellent track record of catching criminals and ne’erdowells, just ask Al Capone. Every year the IRS releases a list dubbed ever […]. The post Micro-Captive Transactions Taken off Annual List of Tax Season Scams appeared first on certifiedtaxcoach.
The great digital shift, along with the pandemic, has brought all manner of activities into the virtual realm — most notably, of course, commerce itself. To that end, as Coinstar CEO Jim Gaherity told PYMNTS, the stage is becoming increasingly set for currency — the literal cold, hard stuff of bills and coins — to be rendered in bits and bytes. The evolution — beyond sorting coins stored in proverbial piggy banks and coffee cans and toward bill pay and commerce, all in a self-service environment
Western Union (WU) reported Tuesday (Aug. 4) that while second-quarter revenues fell for much of its business, WesternUnion.com’s average monthly active customers shot up 45 percent year over year. Chief Financial Officer Raj Agrawal told PYMNTS that Q2’s digital growth was “unbelievable.”. Agrawal said the company’s digital operations have grown not just in terms of dollar amounts, but also in terms of how many new customers the pandemic has brought in.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
In Greek mythology, Thrasos is the character that personifies boldness. Drop the ‘os’ and add an ‘io,’ and it’s a company that personifies the fast track to digital commerce success. Thrasio has taken its Amazon-centric business model to a high level at high-speed, snapping up some of the marketplace’s hottest sellers and creating a company that one of its investors says is “revolutionizing eCommerce.”.
When it comes to B2B payments fraud, it’s not a matter of if it happens, but when. Speaking with Karen Webster in a recent interview , OnPay Solutions President and CEO Neal Anderson explained that organizations have to prepare themselves to mitigate the fraud threat, even as employees work from home. “Everybody needs to be suspicious,” he said. “Everybody should worry that this activity is happening.
The global pandemic has changed commerce fundamentally — a fact confirmed in Visa ’s new Back to Business study. To say that consumers have shifted dramatically toward digital commerce — or that small- to medium-sized businesses ( SMBs ) all over the world have been rapidly pivoting to keep up with them — is almost an understatement. According to the eight-country study, 78 percent of consumers have changed how they pay for things so as to reduce contact in their commerce.
Mobile payments penetration has historically faced a gap in Southeast Asia , Joel Neoh , founder of leading regional online-to-offline company Fave , told Karen Webster. Consumers in locales like Singapore, Malaysia and the Philippines can store payments credentials on their phones and make online purchases with no problem, but it was a different story using them in physical locations.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
Although the 2008 financial crisis jolted the world economy, the financial conditions leading up to the disruption had been a long time coming. It’s perhaps the biggest economic difference between then and the current climate, in which a global pandemic thrust millions of workers in the U.S. into unemployment and fractured supply chains across the globe — all within a matter of days.
Global travel may be down, and border restrictions remain in-place, but that doesn’t mean cross-border payment volumes have taken a hit. The need to purchase goods and services remains as high as ever, and increasingly, spend is occurring on an international scale. While the barriers to reaching an international consumer base are low thanks to innovations in eCommerce, online retailers and merchants still struggle to provide their global consumers with the same payments experience their do
Payments are everyday occurrences for businesses and consumers, and they have been for thousands of years. Transactions once conducted by trading pieces of gold are now accomplished through digital means, with both parties using cards, wire transfers or even smartphone apps to send or receive funds. These transactions often take hours or days to clear, however, which can result in frustration because funds are often needed as soon as possible.
People in the developed world tend to have skewed views of developing countries that they’re unlikely to ever visit — like Cambodia, according to Matthew Tippetts , co-founder and CEO of Phnom Penh-based payments platform Clik. Tippetts told Karen Webster that those from advanced countries think of Cambodia as “frontier,” “underdeveloped” or “running critically behind the rest of the world,” but that overlooks the Cambodian market’s complexity.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
When the story of the coronavirus is written, when it comes to financial services, the key chapters will focus on the pace at which innovation accelerated — and where a range of players came together to create ecosystems, rather than to simply compete in zero-sum, winner-take-all bids for consumers. Those ecosystems will leverage the trust that consumers have placed in traditional financial industry players and tech companies of all sizes – including Big Tech , of course.
“There’s got to be a better way.” That single phrase has started plenty of innovative companies when uttered by frustrated entrepreneurs who find themselves running headlong into something that should be easy but isn’t. Nick Desai , co-founder and CEO of medical disruptor Heal , found himself uttering that phrase as he was driving home from a seven-hour emergency room visit with his baby son some years ago.
Apple has purchased Canadian company Mobeewave , which will allow it to create mobile pay hubs out of iPhones, Bloomberg reported. The deal went down for $100 million, according to sources quoted by Bloomberg. Mobeewave specializes in letting shoppers utilize their smartphones to access a credit card and process payments. The system works via an app and does not require any further hardware beyond a Near Field Communications (NFP) chip, the likes of which have been included in iPhones since 2014
Navigating the U.S. regulatory landscape as a financial service provider is not easy, with laws that vary state by state and federal rules that are constantly evolving. It’s one factor in why so few challenger banks have launched in the country compared to markets like the U.K., where challenger banking has flourished in recent years. However, there are efforts to lower the barriers to entry for market newcomers.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
Uber will let employees work from home through June of next year, according to CNBC. The decision comes after Google made a similar choice, showing the newfound acceptance of remote work amid the pandemic. CEO Dara Khosrowshahi made the announcement at an employee meeting. The measure is not a mandate, so employees could be allowed to return to work offices if they reopen before June 2021.
SocialCatfish.com, the identity verification nonprofit, reported U.S. losses from COVID-19 fraud and ID theft have reached nearly $100 million since the pandemic emerged in March, according to Reuters. A report by the California-based agency, whose mission is to prevent consumers from being defrauded online by learning the identity of individuals or organizations, revealed the number complaints about coronavirus scams has doubled in most states.
Consumers today are looking for new avenues of at-home entertainment as many continue to lay low during the ongoing pandemic. While video streaming services remain popular, research indicates more consumers are also turning to online gaming and gambling platforms. Fraudsters looking for their own enrichment are also populating these platforms, however, making it imperative that both consumers and the companies providing these digital bowling, poker or roleplaying games take security seriously.
As bank-FinTech collaborations evolve, more traditional financial institutions (FIs) are not only implementing services and technologies developed by FinTech partners, but they’re also lending their own expertise to augment FinTech solutions. Also seen in this week’s roundup of the latest in open banking and bank-FinTech collaborations is an emerging use of application programming interfaces (APIs) to enhance payments via both new and legacy rails.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
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