FloQast

APRIL 30, 2024

At their core, compliance programs are tasked with identifying and mitigating risks that could cripple organizations, from financial irregularities to data breaches. Reactive Risk Assessment Processes : Good reaction times can make you a lot of money. You’re probably seething reading the above (I know I am).

Compliance 105

Compliance Addressing Audit Risk 105

Fintech News

MAY 29, 2024

Singapore has released an Environmental Crimes Money Laundering National Risk Assessment (NRA), highlighting the primary threats and vulnerabilities associated with it. The NRA concludes that, given the existing controls, the risk of criminals using Singapore for environmental crimes money laundering is medium-low.

Money Laundering 99

Money Laundering Crime Risk Law Enforcement 99

Fintech Review

JUNE 12, 2024

We explore the innovations in personalised insurance products, the role of IoT devices in data collection and risk assessment, and the challenges faced by established insurance companies integrating new technologies. Enhanced Risk Assessment IoT data provides insurers with a more accurate understanding of risk profiles.

Risk Assessment 96

Risk Assessment Regulatory Compliance Assessments Risk Management 96

The Fintech Times

JULY 31, 2024

As natural catastrophes, including wildfires and convective storms, become more frequent and severe, insurers are looking for new ways to accurately predict and proactively address the growing threat of climate risk. Recognising this, ZestyAI provides property-specific data to help insurers determine the true risk for each property.

Risk 58

Risk AI Risk Assessment Assessments 58

VISTA InfoSec

OCTOBER 21, 2024

This article explores the most common cyber security threats targeting SMEs, practical measures to mitigate risks, and essential steps to take in the event of an attack. Establishing reliable backup protocols can mitigate the impact of ransomware and ensure business continuity in times of crisis. Let’s get started.

Security 130

Security Phishing Ransomware Risk Assessment 130

Fintech Review

MAY 7, 2024

Machine learning is particularly transformative in various fintech applications, such as personalised financial advice and risk assessment, marking a transformative shift in financial methodologies towards more advanced, data-driven approaches. It is essential to mitigate these risks to prevent potentially devastating impacts.

AI 98

AI FinTech Risk Assessment Fraud Detection 98

Innovative Payments Association

AUGUST 29, 2024

Conduct a Risk Assessment Before building a compliance program, businesses should conduct a thorough risk assessment to identify potential compliance risks. This includes assessing the risk of money laundering, financial crime, and regulatory violations.

Cannabis Banking 52

Cannabis Banking Boot Camp Compliance Money Laundering 52

Neopay

MARCH 7, 2024

In a recent move, the Financial Conduct Authority (FCA) has taken a significant step in addressing the prevalent anti-money laundering (AML) shortcomings among Annex 1 firms. It is imperative for these firms to promptly address any identified shortcomings to align with regulatory expectations. These must be addressed.”

AML 52

AML Financial Crimes Crime Risk Assessment 52

Fintech News

MARCH 31, 2024

This balance ensures the protection of legitimate customers’ interests while empowering FIs to effectively assess and mitigate risks associated with financial crimes. It complements the industry’s existing close collaboration with MAS and law enforcement authorities to combat financial crime.

Financial Crimes 96

Financial Crimes Crime Money Laundering Law Enforcement 96

Fintech News

JUNE 23, 2024

Singapore has released its updated Money Laundering (ML) National Risk Assessment (NRA) , highlighting increased risks in the digital payment token (DPT) services sector. Other high-risk sectors include real estate, licensed trust companies, casinos, and precious metals.

Money Laundering 101

Money Laundering Risk Crime Law Enforcement 101

Neopay

MAY 31, 2024

Click here to enlarge How Neopay can help At Neopay we offer specialised expertise and solutions to address the identified weaknesses in AML/CFT measures in payment institutions. Contact us today to learn how our comprehensive compliance solutions can help you bolster your financial crime prevention efforts.

Financial Crimes 52

Financial Crimes AML Money Laundering Crime 52

Neopay

MAY 7, 2024

The proposed updates to the Financial Crime Guide (FCG) are multifaceted, each aimed at addressing specific challenges and aligning with emerging trends in financial crime prevention. This includes references to the travel rule and updates to sections on risk assessment and fraud.

Financial Crimes 52

Financial Crimes Crime Risk Assessment Money Laundering 52

EBizCharge

NOVEMBER 12, 2024

Risk assessment: After gathering the necessary information, a risk assessment is conducted to evaluate a business’s risk profile. Underwriters analyze factors such as transaction volumes and potential risks to determine the likelihood of financial instability or fraud.

Underwriting 52

Underwriting ISOs Risk Assessment Assessments 52

The Fintech Times

SEPTEMBER 19, 2024

. “Risk orchestration lowers risk and boosts resilience of financial institutions by facilitating quick threat detection and response,” Kelvin Lim , senior director at the Synopsys Software Integrity Group. “Automated workflows facilitate real-time risk management, ensuring a coordinated response to evolving threats.

Risk 58

Risk Financial Crimes AML Risk Management 58

Fintech Review

FEBRUARY 13, 2024

Consumer protection in the digital age isn’t just about enforcing rules; it’s about understanding the evolving risks and being proactive in mitigating them. Regulatory Frameworks Developing adaptable regulatory frameworks is essential in addressing the rapid pace of fintech innovation while ensuring consumer protection.

Consumer Protection 105

Consumer Protection Innovation Consumer FinTech 105

Neopay

MARCH 4, 2024

Therefore, prioritising compliance, risk management, and ethical conduct is essential to mitigate the risk of regulatory scrutiny.

Compliance 52

Compliance Mitigation Risk Mitigation Regulatory Compliance 52

Stax

JANUARY 8, 2024

PayFacs need to equip themselves with an effective risk management strategy that helps them continuously monitor risks and employ appropriate risk responses if needed. So you must have risk avoidance, risk identification, and risk reduction strategies in place to combat fraudulent transactions.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

Clearly Payments

JANUARY 8, 2024

Merchants must familiarize themselves with the diverse risks associated with payment processing, encompassing fraud, chargebacks, and cybersecurity threats. Conducting a thorough risk assessment tailored to the specific nature of the business is essential. Chargebacks are generally the biggest concern that most merchants have.

Risk Management 66

Risk Management Risk PCI DSS Process 66

Fintech Finance

AUGUST 2, 2024

ComplyTek introduces an advanced transaction screening solution for instant payments , designed to ensure compliance and mitigate fraud within the critical 10-second processing window. Key Benefits: Proactive Risk Monitoring : Enhanced efficiency through automation and reduced false positives with advanced algorithms.

Instant Payments 93

Instant Payments Transactions Payment APIs and Integration Compliance 93

The Fintech Times

MARCH 29, 2024

From enhancing risk assessment accuracy to personalising products and services, insurers are leveraging data analytics to optimise decision-making processes, mitigate risks and cater to evolving consumer needs. “Fraudulent claims are a key concern for every insurance company. .”

Risk Assessment 58

Risk Assessment Underwriting Assessments Risk 58

Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Major risk factors for PayFacs include fraudulent transactions, merchant credit risk, regulatory compliance, and operational risks.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

VISTA InfoSec

OCTOBER 20, 2023

Financial Stability : Mitigates the financial impact of disasters, including costs from data breaches or loss of revenue. While entities can choose their methods for HIPAA disaster recovery planning, HIPAA mandates basic requirements in section 164.308(a)(7)(ii) , requiring organizations to address certain aspects.

Disaster Recovery 130

Disaster Recovery Regulatory Compliance Procedures Duplicate 130

VISTA InfoSec

AUGUST 22, 2023

As technology advances and the use of biometric data becomes more prevalent, it is crucial to address the privacy concerns and regulatory compliance associated with this sensitive data. By addressing these issues, organizations can strike a balance between reaping the benefits of biometric technology and protecting individuals’ privacy.

Privacy 130

Privacy Compliance Legal Best Practices 130

Neopay

JUNE 27, 2024

Risk management framework: Develop a robust risk management framework that identifies, assesses and mitigates key risks associated with your business operations. This includes conducting a thorough risk assessment, implementing appropriate risk controls and establishing effective monitoring mechanisms.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

Nanonets

SEPTEMBER 22, 2023

Effective  vendor management  contributes to cost optimization,  risk mitigation , and quality assurance. Evaluating potential suppliers through a rigorous qualification process can help mitigate risks and ensure that they align with the business objectives and values.

Risk Mitigation 40

Risk Mitigation Mitigation Risk Assessment Assessments 40

Seon

MARCH 20, 2024

trillion annually, reflecting a 56% increase over the past decade, the urgency to address digital fraud has never been more acute. Digital footprint monitoring plays a crucial role in identifying and mitigating such schemes, enabling a proactive approach to fraud prevention. for financial service firms and banks. With over 1.4

Fraud Prevention 98

Fraud Prevention Assessments Phishing Mitigation 98

PYMNTS

SEPTEMBER 29, 2017

Managing Risk. One of the most crucial areas for banks’ treasuries is risk mitigation , which, according to Beaulande, has become more complex as it relates to other areas of treasury management.

Treasury 56

Treasury Addressing Treasury Management FinTech 56

Fintech Finance

FEBRUARY 29, 2024

The partnership addresses key needs as more commerce moves online and fraudsters find new and sophisticated ways to exploit legacy identity verification and fraud prevention approaches. Deepfakes, synthetic identities and account takeover fraud are growing threats that require advanced identity proofing and risk assessment.

Fraud Prevention 52

Fraud Prevention Process FinTech Online and Mobile Banking 52

FloQast

APRIL 8, 2024

Addressing material weaknesses is not just a legal requirement but a cornerstone of corporate governance and ensuring investor confidence, no matter the company size. Conduct regular risk assessments. Regularly assess the risk of material misstatement in financial reporting and adjust controls accordingly.

Compliance 52

Compliance Audit Best Practices Risk Assessment 52

VISTA InfoSec

JULY 31, 2023

If any areas of non-compliance are identified during the assessment, the QSA will report their findings to the business. It is then up to the business to engage a consultant or take other appropriate measures to address the areas of non-compliance. and prepare your organization for any changes.

PCI DSS 130

PCI DSS Security Encryption Compliance 130

Segpay

APRIL 16, 2024

Merchants should implement robust fraud detection tools, such as address verification systems (AVS) and card verification value (CVV) checks. To mitigate this risk, merchants should ensure that their billing descriptors are clear and recognizable on cardholder statements.

Disputes 52

Disputes Address Verification System (AVS) Fraud Prevention Fraud Detection 52

Fintech News

SEPTEMBER 17, 2024

For example, the General Data Protection Regulation (GDPR) addresses concerns surrounding automated personal data processing by granting European Union citizens the right to obtain an explanation behind the decision made by automated means in the context of Article 22.

Mitigation 52

Mitigation Risk Assessment On-Demand Research 52

The Fintech Times

APRIL 8, 2024

Global law firm DLA Piper, i n partnership with The Fintech Times and The Fintech Power 50, recently hosted a fascinating evening event at its head office in London addressing how established players and disrupters in the insurance industry can navigate through the complexities of artificial intelligence (AI).

AI 58

AI Risk Legal Framework Use Case 58

Nanonets

DECEMBER 13, 2023

#1: Increased Accuracy and Reduced Errors AI in insurance claims processing plays a pivotal role in enhancing accuracy and reducing errors by automating various tasks and mitigating the risks associated with manual processes.

AI 102

AI Process Fraud Detection Compliance 102

Global Fintech & Digital Assets

DECEMBER 11, 2023

Covered financial institutions now face heightened expectations in relation to cybersecurity governance, risk assessment, and incident reporting. Risk assessments should also be reviewed whenever a new business model is adopted or a new product is introduced.

Cybersecurity 59

Cybersecurity Multifactor Authentication Risk Assessment MFA 59

Segpay

MAY 1, 2024

The Act aims to ensure digital services’ continuity, security, and stability, particularly in critical sectors such as finance, by addressing various operational risks, such as cyber threats, system failures, and operational disruptions. A risk-based testing approach is required to detect and address potential ICT disruptions.

Cybersecurity 52

Cybersecurity Compliance Procedures Risk Management 52

Seon

APRIL 11, 2024

Both departments are crucial in identifying and mitigating fraud and reducing risk, including financial, operational, legal and reputational hazards. Such cross-functional insights facilitate a more proactive and predictive approach to identifying and mitigating financial crime, ensuring that organizations stay one step ahead.

Fraud Prevention 52

Fraud Prevention AML Money Laundering Financial Crimes 52