Listing of AFP News Articleshttp://www.afponline.org/ArticleRss.ashxTue, 21 May 2013 04:44:26 -0400Tue, 21 May 2013 04:44:26 -0400Last week at the CTC Corporate Treasurers Forum a question arose: Should treasurers lead the enterprise risk management function instead of the internal audit group? Not surprisingly, a spirited debate followed.http://www.afponline.org/mbr/reg/res/reg_news/Should_Treasury_Lead_ERM__Practitioners_Weigh_Pros_and_Cons.htmlMon, 20 May 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Should_Treasury_Lead_ERM__Practitioners_Weigh_Pros_and_Cons.htmlWith payments fraud running rampant, a recent AFP webinar held by a treasury executive provided especially timely advice. Effective internal controls include exception processing, activity specific accounts and more.  http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Essential_Controls_for_Treasury,_Finance.htmlTue, 14 May 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Essential_Controls_for_Treasury,_Finance.htmlPayments vendors will claim they are PCI compliant. But smart treasury and finance professionals shouldn't take their word for it. http://www.afponline.org/mbr/reg/res/reg_news/6_Tips_Treasurers_Can_Use_to_Reduce_Payment_Vendor_Risk.htmlTue, 14 May 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/6_Tips_Treasurers_Can_Use_to_Reduce_Payment_Vendor_Risk.htmlAlthough the recent AFP Corporate Cash Indicators™ suggests that corporate treasurers have become more willing to spend some of their excess cash, many do not anticipate a large uptick in spending on capital investments for some time. Treasurers at a recent roundtable in New York co-hosted by BlackRock and the AFP Corporate Treasurers Council indicated they are still very hesitant to take on more risk and spend more money.http://www.afponline.org/mbr/reg/res/reg_news/Murky_Outlook__Treasurers_Not_Taking_on_Risk.htmlMon, 13 May 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Murky_Outlook__Treasurers_Not_Taking_on_Risk.htmlThis week, the recent decrease in fraud incidents might be an indication that fraud is evolving, and moving to a new payments channel. Also, what do recent cybersecurity initiatives by the government mean for corporates?http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__New_Payment_Channels_Threaten_Corporate_Cash.htmlThu, 02 May 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__New_Payment_Channels_Threaten_Corporate_Cash.htmlTreasury risk managers are taking a new approach to the way they identify, aggregate and manage insurance risk. The growing sophistication of insurance markets is giving a boost to the captives market.http://www.afponline.org/mbr/reg/res/reg_news/How_Treasurers_Manage_Insurance_Risk__The_Newest_Trend.htmlThu, 02 May 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/How_Treasurers_Manage_Insurance_Risk__The_Newest_Trend.htmlFrance is leading European countries in making renminbi payments to China following a 249 percent growth in payments value since March 2012, according to SWIFT. France is now ranked fourth in the world for RMB payments value, behind the UK, Singapore and Taiwan.http://www.afponline.org/mbr/reg/res/reg_news/SWIFT__France_Becoming_a_Major_Player_in_RMB_Payments.htmlTue, 30 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/SWIFT__France_Becoming_a_Major_Player_in_RMB_Payments.htmlSAN DIEGO-Charles Bretz, director, payment risk, Financial Services Information Sharing and Analysis Center (FS-ISAC), provided insights on the most prevalent cyberthreats to corporates and said account takeovers remain one of the most frequent methods that cybercriminals use. http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Fraud_a_Top_Concern_for_Payments_Pros.htmlTue, 23 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Fraud_a_Top_Concern_for_Payments_Pros.html This month, we speak with treasurers and fraud experts and get their reactions to the 2013 Payments Fraud & Control Survey, underwritten by J.P. Morgan. Also this month, a follow-up to the CAPP Exercise, financial professionals get a big win in an appeals court ruling, the UK payments industry appears to be headed for stricter regulation, and more.http://www.afponline.org/pub/res/news/April_2013_Payments_Newsletter.htmlThu, 18 Apr 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/April_2013_Payments_Newsletter.htmlThe Third Circuit Court of Appeals hit a home run empowering financial professionals in a recent ruling, by sending a clear signal that middle and senior level managers can legitimately question whether the invoices and payments, which they are charged to oversee and execute, are fraudulent and run afoul of federal law and corporate policies without fear of retaliation by their employers.http://www.afponline.org/mbr/reg/res/reg_news/Finance_Pros_Win_Big_in_Appeals_Court_Ruling.htmlWed, 17 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Finance_Pros_Win_Big_in_Appeals_Court_Ruling.htmlOn the whole, fraudsters appear to be going after the companies with the most money and eschewing smaller targets. Even though these organizations have the resources to afford top-notch security, criminals believe they are more susceptible to being defrauded.http://www.afponline.org/mbr/reg/res/reg_news/Fraudsters_Find_Myriad_Reasons_to_Target_Large_Corporates.htmlMon, 15 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Fraudsters_Find_Myriad_Reasons_to_Target_Large_Corporates.htmlIn June 2012, the Financial Services Authority (FSA) revealed that banks may have been mis-selling interest-rate hedging products (IRHPs) to businesses. Almost a year later, after assessing eight large UK banks, the FSA has released a pilot report announcing that an estimated 90 percent, or about 40,000 IRHPs, were mis-sold to unsophisticated users from 2001 to present.http://www.afponline.org/mbr/reg/res/reg_news/Five_Ways_to_Protect_Your_Company_from_Mis-Sold_Swaps.htmlFri, 12 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Five_Ways_to_Protect_Your_Company_from_Mis-Sold_Swaps.htmlCraig Martin, AFP Treasury Practice Lead and Executive Director of the Corporate Treasurers Council, discusses FX volatility and why treasurers need to re-evaluate their hedging strategy. Also, Wolfgang Koester explains why China should follow Chile on currency liberalization, plus research on payments fraud, advice on cyber risk and a recent cyberattack exercise that included 67 treasurers.  http://www.afponline.org/pub/res/news/April_2013_Risk_Newsletter.htmlThu, 11 Apr 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/April_2013_Risk_Newsletter.htmlThe U.S. Commodity Futures Trading Commission on Wednesday issued an enforcement delay on reporting requirements for end-user counterparties to swap transactions. The scheduled reporting compliance date had been April 10 for counterparties that were neither "swap dealers" nor "major swap participants."  http://www.afponline.org/pub/res/news/CFTC_Extends_Swap_Reporting_Enforcement_for_Businesses.htmlWed, 10 Apr 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/CFTC_Extends_Swap_Reporting_Enforcement_for_Businesses.htmlCan the currency markets—and any others for that matter—get any more volatile? The continued volatility calls for treasurers to look at new—or at least underutilized—hedging strategies, such as the use of options.http://www.afponline.org/mbr/reg/res/reg_news/More_Options_for_Hedging.htmlWed, 10 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/More_Options_for_Hedging.htmlCorporates should think twice before refusing their banks' security recommendations. Otherwise they could be held liable when a fraud loss occurs, if a March 18 court decision is any indicator.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__A_Cautionary_Tale_for_Corporates.htmlTue, 09 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__A_Cautionary_Tale_for_Corporates.htmlThe U.S. economy created fewer jobs in March than it had in any previous month since last summer. The Bureau of Labor Statistics reported that non-farm payrolls expanded by a seasonally adjusted 88,000 workers last month, the first time the economy failed to create at least 100,000 jobs since it added 87,000 workers last June.http://www.afponline.org/pub/res/news/AFP_EconWatch__U_S__Economy_Stumbles.htmlMon, 08 Apr 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/AFP_EconWatch__U_S__Economy_Stumbles.htmlThe see-saw which is the U.S. economy continued again last week as a weaker-than-expected payrolls report put a bit of a damper on the recent positive narrative we had been witnessing. Concerns about the economy not being as robust as previously thought caused money to move in a classic “risk-off” trade and U.S. Treasury securities were the beneficiaries at the expense of the equity market.http://www.afponline.org/mbr/reg/res/reg_news/This_Week_in_Corporate_Finance__U_S__Payrolls_Weaker_than_Expected.htmlMon, 08 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/This_Week_in_Corporate_Finance__U_S__Payrolls_Weaker_than_Expected.htmlIn a stark contrast to previous quarters, Canadian CFOs’ optimism in first quarter 2013 was fairly modest compared to that of their U.S. counterparts. According to a new survey, Canadian CFOs’ net optimism recovered only slightly, going from -6 in Q4 2012 to +7 in Q1 2013, while U.S. CFOs' optimism went from -11 to +32.http://www.afponline.org/mbr/reg/res/reg_news/Survey__Canadian_CFOs_Less_Optimistic_than_American_Peers.htmlThu, 04 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Survey__Canadian_CFOs_Less_Optimistic_than_American_Peers.htmlThe Financial Sharing and Analysis Center (FS-ISAC) conducted the latest Cyber Attack against Payment Processes (CAPP) Exercise on March 12-13 and 19-20, putting 67 corporate participants’ cybersecurity preparedness to the test.http://www.afponline.org/pub/res/news/Cyberattack_Exercise_Tests_Treasurers%E2%80%99_Disaster_Preparedness.htmlTue, 02 Apr 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/Cyberattack_Exercise_Tests_Treasurers%E2%80%99_Disaster_Preparedness.htmlTreasurers attending the CTC Corporate Treasurers Forum in New York, May 15-17, won’t want to miss closing keynote speaker Michael Leiter, former director of the National Counterterrorism Center (NCTC). In a recent interview, Leiter stressed the risks and opportunities that come with international expansion.http://www.afponline.org/mbr/reg/res/reg_news/Former_NCTC_Director_Discusses_Geopolitical_Risk.htmlThu, 28 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Former_NCTC_Director_Discusses_Geopolitical_Risk.htmlIn an open letter, FiREapps CEO Wolfgang Koester asks newly confirmed Treasury Secretary Jack Lew to re-focus the U.S. strategy on China’s currency manipulation. Koester believes it is in the best interest of the U.S. and the rest of the world that China move forward with yuan liberalization.http://www.afponline.org/mbr/reg/res/reg_news/China_Should_Follow_Chile_on_Currency_Liberalization.htmlThu, 28 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/China_Should_Follow_Chile_on_Currency_Liberalization.htmlCorporate insurance managers are facing new challenges; the market is hardening in some sectors, while new and hard to quantify risks are emerging. Just in time to assist treasurers in managing this new environment is the new CTC Guide on Insurance from AFP, a publication designed to help navigate the new world of corporate insurance.http://www.afponline.org/pub/res/news/AFP_Releases_New_Insurance_Risk_Resource.htmlThu, 28 Mar 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/AFP_Releases_New_Insurance_Risk_Resource.htmlAgathe Côté, Deputy Governor of the Bank of Canada, spoke at Association for Financial Professionals of Canada-Montreal on Tuesday. She discussed the critical role of the Canadian financial market infrastructure, and the steps that the central bank, regulators and the industry are taking to strengthen that system.http://www.afponline.org/pub/res/news/Cote_Discusses_Financial_Market_Infrastructure_at_AFPC_Montreal.htmlTue, 26 Mar 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/Cote_Discusses_Financial_Market_Infrastructure_at_AFPC_Montreal.htmlThis week, we look at a new report from J.P. Morgan that discusses cybersecurity best practices and trends. Also this week, banks in Canada and South Korea are hit with DDoS attacks, and FinCEN applies money laundering rules to Bitcoins.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Cybersecurity_Best_Practices_for_Corporates.htmlTue, 26 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Cybersecurity_Best_Practices_for_Corporates.htmlWith just 11 months to go before the SEPA deadline, many companies are waiting to the last minute to implement, the European Central Bank said in a new report. While The ECB noted that waiting too long will expose corporates to undue operational risks that could ultimately cause unexpected business impediments.http://www.afponline.org/mbr/reg/res/reg_news/ECB_to_Corporates__Speed_Up_on_SEPA.htmlMon, 25 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/ECB_to_Corporates__Speed_Up_on_SEPA.htmlWe spent most of the week going back-and-forth as to whether Cyprus could be another Greece. The debt and equity markets rallied and fell depending on the latest news out of Nicosia. The general feeling at week’s end was that while this was probably not going to be a major disruption to the world financial markets.http://www.afponline.org/mbr/reg/res/reg_news/This_Week_in_Corporate_Finance__Cyprus_Shake-Up.htmlMon, 25 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/This_Week_in_Corporate_Finance__Cyprus_Shake-Up.htmlLONDON -- While serving on a panel at the Risk Annual Summit this past week developments were breaking in the banking crisis in Cyprus. The summit's attendees offered a unique perspective into that country -- especially from a treasurer's perspective.http://www.afponline.org/mbr/reg/res/reg_news/A_European_Treasury_Perspective_of_the_Cyprus_Banking_Crisis.htmlFri, 22 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/A_European_Treasury_Perspective_of_the_Cyprus_Banking_Crisis.htmlU.S. companies’ cash reserves rose 10 percent at the end of last year, according to a new report from Moody’s. Moreover, the rating agency noted that more than half of that money is stashed overseas.http://www.afponline.org/mbr/reg/res/reg_news/Cash_Reserves_Up_10_Percent_in_2012,_Continue_to_Grow_Abroad.htmlWed, 20 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Cash_Reserves_Up_10_Percent_in_2012,_Continue_to_Grow_Abroad.htmlThis week, a look at the Genesco/Visa Lawsuit, which marks the first time that a retailer has sued a credit card company for losses related to fraud. Also, President Obama meets with top CEOs to discuss cybersecurity, a new plan is unveiled that could allow the CIA and NSA to access the FinCEN database, and six major banks get hit with DDoS attacks.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Are_PCI_Compliance_Fines_Fair_.htmlSun, 17 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Are_PCI_Compliance_Fines_Fair_.html