The Venezuelan Banking Association seeks to institutionalize September of each year as Compliance Month, recognizing the need to adapt to the new demands of the global landscape.

“For Venezuelan organizations, understanding and adhering to these standards is increasingly relevant for developing commercial and financial relationships in environments where risk management, transparency, ethics, and compliance are essential for doing business.”

In this context, the event “Overcompliance vs. Global Strategic Compliance: Transforming Risks into Opportunities” will be held on the 16th and 17th of this month in Caracas, at the Venezuelan Banking Association Tower.

The seminar agenda includes addressing the various “dimensions of compliance,” such as “strategic risk management, supporting business growth, corporate integrity, correspondent banking, and the implementation of international standards in the Venezuelan business environment.”

Among the international guests are Wilmer Guerrero, Senior Vice President and Director of BSA/AML and Consumer Compliance at Banesco USA; and Rocío Pérez Mies, Global Director of Regulatory Compliance at BBVA Group. Representing Venezuela will be Lourdes Pulido and Pedro Luis López, vice president and president of the Compliance Officers Committee of the Venezuelan Banking Association, respectively; Henry Rivero, president of Agile Check; Nancy Granadillo, lawyer and compliance specialist; Silumerany Rodríguez, lawyer and certified public accountant; Oscar Perdomo, economist and compliance consultant; Jesús Mora, lawyer and specialist in AML/CFT/FPADM risk management; Maikel Rengifo, director of the AML/CFT/FPADM Risk Management Office at SUDEASEG; and Mercedes Rodríguez, head of Financial Services at Forvis Mazars in Venezuela.

This year, the Venezuelan Banking Association joins the commemoration of Compliance Day, celebrated on Saturday the 26th, with a related event on September 25th focused on “The Importance of Compliance for Venezuela in the Current Circumstances.”

This event will recognize the work of professionals in this field and “provide a forum for analyzing their evolution in the face of business transformations and new market demands.”

M.Pino

Source: bancaynegocios

(Reference image source: Christina @ wocintechchat.com M on Unsplash)

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La entrada Venezuelan Banking Association wants to make September compliance month apareció primero en Bitfinance.

The official dollar in Venezuela closes this Wednesday, April 17, at 36.32 bolivars, according to the publication of the Central Bank.

The regulatory entity sets the exchange rate daily for the transactions throughout the country, taking the average of the operations of the exchange desks of the banks participating in the day.

The following update will be published by the BCV this Thursday, April 18.

Atención🔵|| El tipo de cambio publicado por el BCV es el promedio ponderado de las operaciones de las mesas de cambio de las instituciones bancarias. Al cierre de la jornada del día Miércoles 17-04-2024, los resultados son:#MercadoCambiario #BCV🇻🇪 pic.twitter.com/G2sVDFp8lE

— Banco Central de Venezuela (@BCV_ORG_VE) April 17, 2024

M.Pino

Source: Banco Central de Venezuela

(Reference image source: BCV, archive)

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La entrada Price of the BCV dollar for this Wednesday, April 17 apareció primero en Bitfinance.

This Tuesday, April 16, the price of the official dollar in Venezuela is in 36.29 bolivars. This is published on its website by the Central Bank of Venezuela, which regulates the exchange rate for transactions throughout the territory.

The parity updates between the US dollar and the bolivar are published daily by the regulatory entity as a result of the weighted average resulting from the daily operations of the active exchange desks of the participating banking institutions.

The next update will be known tomorrow, Wednesday, April 17. 

Atención🔵|| El tipo de cambio publicado por el BCV es el promedio ponderado de las operaciones de las mesas de cambio de las instituciones bancarias. Al cierre de la jornada del día Martes 16-04-2024, los resultados son:#MercadoCambiario #BCV🇻🇪 pic.twitter.com/CEq8IDrFEY

— Banco Central de Venezuela (@BCV_ORG_VE) April 16, 2024

M.Pino

Source: Banco Central de Venezuela

(Reference image: BCV, archive)

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La entrada Quote of the BCV dollar for this Tuesday, April 16 apareció primero en Bitfinance.

Cyber​​attacks on Mexico’s banking sector, presumably of Brazilian origin, have escalated exponentially since 2023, when they reached 31,000 cases.

According to recent data, in 2022, 14,000 attacks to Mexican banking users were detected. The Grandoreiro malware was the culprit in those cases. In 2023, the number rose to 31,000. And so far in 2024, there have been an estimated 8,100 attacks, according to statements by Fabio Assolini, leader of the Latin America Unit of Kaspersky, a company specialized in cybersecurity, reviewed by Forbes Mexico.

“This exponential increase in cyberattacks represents a 600 % growth between December and March, with the Grandoreiro malware being used in numerous attacks.”

According to Assolini, cybercriminals take advantage of Mexicans’ propensity to fall into traps that culminate in the theft of information to carry out their attacks. On the other hand, they perceive growth in the country’s economy, which leads them to think that Mexicans have a lot of money in their bank accounts.

The expert does not rule out that the Brazilian attackers have accomplices in Mexico, who facilitate “the withdrawal of funds from ATMs, which could lead to criminal activities such as money laundering.”

As the years go by, hackers improve their attack techniques. In February of this year, thousands of fraudulent emails sent in the name of the SAT were detected. These messages requested data and file downloads from clients, which opened the door to the Trojan to thousands of devices in more than 45 countries.

In terms of digital attacks, in Latin America, Brazil heads the list of countries with the most cases, “followed by Mexico, Peru, Argentina and Colombia,” according to Assolini. “The larger population and greater number of devices in use in these countries contribute to this trend.”

M.Pino

Source: massinformacion

(Reference image source: Unsplash+, in collaboration with Getty Images)

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La entrada The number of cases of cyberattacks on banks in Mexico increases apareció primero en Bitfinance.

Through its official channels, the Superintendency of Banking Institutions (Sudeban) disseminated the calendar of bank holidays for the year 2024.

This schedule, which will govern the activities of the national banking system, was announced through the social network platform X.

#DeInterés || Sudeban pone a la disposición de toda la ciudadanía, el Calendario Bancario del año 2024. #Sudeban #Banca #SupervisandoEnRevolución #CalendarioBancario2024 pic.twitter.com/IdfU6EDYJa

— SudebanInforma (@SudebanInforma) December 31, 2023

In that statement, the entity highlighted that Monday, January 1st, was designated as a non-working day in commemoration of the New Year.

K. Tovar

Source: Descifrado

(Reference image source: @Themoneypost_, X)

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La entrada Sudeban published the calendar of bank holidays of 2024 apareció primero en Bitfinance.

The technological advances applied to the banking sector have already reached Venezuela, where there is progressive progress towards new customer services, as well as an optimization of current services.

In this regard, the president of the Venezuelan Banking Association, Pedro Pacheco, has stated: “We must create rapid learning to get involved in these processes” that have demonstrated successful results in the world.

The transformation of banking involves, without a doubt, a change in “consumption habits and is making us change our paradigms.”

Pacheco indicated that this process occurs so quickly that we do not realize it. The changes are supported by “virtual reality, expanded reality, blockchain, drones, the 3D printer and the queen this year, artificial intelligence (AI), which is probably the most mentioned worldwide,” he added.

The new banking requires a user who is knowledgeable about the procedures at their disposal. Hence, the importance of knowledge. Training in the banking and financial field of the 21st century is a necessity.

Currently, many banking processes are carried out in the digital sphere. This does not mean that the banked client cannot go to a physical agency to carry out a procedure. However, since you can do it from the comfort of home, through a computer or your smartphone, leaving the house would not be necessary.

Pacheco insists that “we all need to get involved in these processes, because they cut across all professions.”

Among the challenges of the Venezuelan banking sector for 2024, Pacheco mentions open banking with services tailored to the client, “incorporating these technologies to be able to integrate payroll, collections,” among others.

M.Pino

Source: eluniversal

(Reference image source: Unsplash+, in collaboration with Getty Images)

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La entrada The technological transformation of the banking sector in Venezuela accelerates apareció primero en Bitfinance.

As technology imposes new modalities in services, citizens make it clear what they need. The banking sector is where the importance of digitization is most evident.

The Venezuelan banking context is marked by two segments that increasingly make it clearer what they want. Pensioners and young people, who have benefited from an acceleration and opening in terms of banking and the offer of new payment mechanisms.

Digital transactions have been gaining ground, in the midst of a dollarized market. But this is not a problem for the citizen, since most of the banks already offer the purchase and exchange of currencies, as well as the reception of remittances.

Changes in terms of digitization are not aimed at losing contact with customers, but rather at offering faster, more reliable, safer, and more efficient mechanisms.

With the support of the Superintendency of Institutions of the Banking Sector of Venezuela (Sudeban), the entity that regulates banking activity in the country, banks have made great strides to adapt to the new global financial reality, hand in hand with technology. Now the offer of digital services is broader.

Said services are designed taking as a reference what the client needs in terms of means of payment in daily life, payments for national and international services via the Internet, exchange mechanisms, among others.

M.Pino

Source: eluniversal

(Reference image source: Sweet Life, Unsplash)

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La entrada Customer needs drive digitization in Venezuela apareció primero en Bitfinance.

The Central Bank of Venezuela carried out a new intervention in the banking sector on December 2, after injecting another $30 million.

With this new amount, placed in the national bank, they total about $95 million, after two previous interventions to stop the advance of the dollar in the Venezuelan economy.

On the other hand, the analysts anticipate for this week no less than three new injections of dollars “both in the exchange tables and in the parallel market.”

The advance of the dollar for the first weeks of the last month of 2022, according to specialists, will not stop. Until now, the US currency accumulates a rise of 5.53 %.

The prices for the purchase in the exchange tables, with few fluid operations in recent weeks, “oscillated this Friday between 10.6770 bolivars (Bancamiga) and 12.2236 (BBVA Provincial), while the prices for the sale moved between 10.7684 (Bancamiga) and 12.3472 (BBVA Provincial), in an environment with significant unsatisfied demand”.

Regarding the parallel market, at the close of this Friday it was located at 13.78 bolivars and accumulates an increase of 5.59 % in December.

M.Pino

Source: LaVoz

La entrada CBV injected another $30 million into the national banking sector apareció primero en Bitfinance.

This week, the National Superintendence of Banking Sector Institutions (Sudeban) announced that the activity of this sector will return to normal schedule, between 8:30 a.m. and 3:30 p.m., after two years of working part-time. due to the pandemic.

It was learned this Monday, through a circular, that the agency authorizes the removal of the measures and limitations applied in 2020 when the country was involved in a health emergency due to the coronavirus outbreak.

Consequently, the processes of assistance in agencies, ticket offices, offices and administrative headquarters are normalized, by virtue of the fact that “the causes” that motivated the adoption of the special operating scheme were “overcome” during the validity of the emergency regime with the “7+7” system.

Likewise, the banks must recover the extended hours implemented for the provision of its services under special conditions. As is known, since November of last year, an expanded flexibility has been in force in the country, after the suspension “until further notice” of the scheme, but the government has maintained the validity of biosecurity measures for access to public places, such as the mandatory use of masks and social distancing.

K. Tovar

Source: Bancaynegocios

La entrada Sudeban announces banking sector returns to normal schedule apareció primero en Bitfinance.

The Financial Superintendence of Colombia (SFC) published the indicators related to information security and cybersecurity in the banking sector, establishing that the 2021 expenditure was approximately 90 million dollars.

Despite this investment, last year the Latin country was the victim of some 1,362 million attacks against the banking sector, a number of which only 21 important incidents stand out, which despite this did not mean an interruption of the banking service.

Another data to highlight is that 99.05 % of the vulnerabilities were corrected within the same quarter that they were detected, as detailed by the SFC in its report.

It is also estimated that some 19 million dollars were involved in unauthorized operations. This means that the users were fraudulently impersonated or any other incident that led to the generation of an unauthorized transaction by the user.

K. Tovar

Source: Cointelegraph

La entrada Colombia has invested $ 90 million in bank security apareció primero en Bitfinance.