VISTA InfoSec

NOVEMBER 4, 2024

This comprehensive assessment identifies any discrepancies between your existing frameworks and the regulatory standards, enabling you to pinpoint areas that require enhancement. Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

This comprehensive assessment identifies any discrepancies between your existing frameworks and the regulatory standards, enabling you to pinpoint areas that require enhancement. Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

This comprehensive assessment identifies any discrepancies between your existing frameworks and the regulatory standards, enabling you to pinpoint areas that require enhancement. Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

This comprehensive assessment identifies any discrepancies between your existing frameworks and the regulatory standards, enabling you to pinpoint areas that require enhancement. Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

PYMNTS

JULY 24, 2020

So it’s not exactly surprising that supply chain risk mitigation efforts can fall by the wayside. A traditionally manual process involving PDF questionnaires, supplier due diligence is rarely at the top of the list when organizations are considering where to place their resources to invest in new, automated technology.

Risk 70

Risk Due Diligence Risk Mitigation Mitigation 70

Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Thorough due diligence, technology, and adherence to regulatory guidelines are essential in a PayFac’s risk management strategy. The due diligence doesn’t stop at onboarding.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Finovate

SEPTEMBER 4, 2024

With Venminder, firms can manage vendors, track contract data, perform due diligence and oversight, send and score questionnaires, conduct risk assessments, systemically monitor risks across domains, order due diligence assessments on vendor controls, and more.

Risk Management 59

Risk Management Risk Due Diligence Acquirers 59

PYMNTS

JANUARY 24, 2019

With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes. ” Organizations must do more with less, and they must do it quickly, he continued.

Compliance 76

Compliance Due Diligence Risk Mitigation Risk 76

Fintech News

JUNE 5, 2024

The benefits of adopting a life cycle model are manifold, including mitigating risks through early problem identification, enhanced predictability in activities, and a unified approach in the planning and renewal phases. What makes the Strategy-Risk model a robust tool is its iterative sequential approach.

FinTech 107

FinTech Mitigation Risk On-Demand 107

Stax

JANUARY 8, 2024

Not only must PayFacs safeguard themselves and their clients against potential threats like fraud or cybersecurity breaches but also ensure PCI compliance , customer due diligence, and adherence to card regulations. You should also have contingency plans or initiatives in place to mitigate the impact of a risk.

Risk Management 88

Risk Management Risk Money Laundering Procedures 88

Innovative Payments Association

SEPTEMBER 5, 2024

To mitigate these risks and ensure proper oversight of third-party relationships, it is crucial for organizations to go beyond traditional due diligence and establish a comprehensive third-party oversight framework. While these relationships can bring numerous benefits, they also come with inherent risks.

Boot Camp 52

Boot Camp Due Diligence Third Party Vendors Compliance 52

The Payments Association

OCTOBER 11, 2024

Tighter oversight of third parties: When firms engage third parties to manage safeguarded funds, stricter due diligence and diversification will be required , reducing third-party failure risks. It’s crucial to choose auditors who are familiar with the FCA’s rules and can provide targeted insights into improving safeguarding measures.

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

Finovate

FEBRUARY 15, 2024

Features Offers precision-tailored LLM specializing in financial data Delivers transparent data sourcing with detailed audit trails Provides advanced data security measures, mitigating breaches and compliance violations Who’s it for?

Due Diligence 59

Due Diligence Risk Assessment CRM AI 59

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. The audit trail acts as a comprehensive record, demonstrating due diligence in regulatory adherence.

AI 102

AI Process Fraud Detection Compliance 102

Neopay

OCTOBER 10, 2024

These controls should be applied during both the onboarding of customers and through continuous transaction monitoring to mitigate fraud risks. Customer Due Diligence (CDD) controls at onboarding and ongoing monitoring The effectiveness of Customer Due Diligence (CDD) controls remains critical, especially when onboarding new clients.

Due Diligence 52

Due Diligence Fraud Prevention Financial Crimes Compliance 52

Stax

DECEMBER 4, 2023

An effective AML compliance program must include Know Your Customer (KYC) protocols, transaction monitoring and reporting, risk assessment and categorization, and training and awareness for staff. Risk assessment and categorization The first step towards mitigating risk is to assess it.

Money Laundering 88

Money Laundering Compliance AML BSA 88

The Fintech Times

JANUARY 25, 2024

Given this backdrop, things are about to become a lot more complex for banks and financial service providers as they seek to onboard new customers and maintain due diligence on existing ones. Forming a risk-based approach can help FIs link their methodology back to their wider risk appetite and strategy.

Risk 59

Risk Due Diligence Financial Crimes Crime 59

Neopay

MARCH 7, 2024

Risk Assessment weaknesses: Annex 1 firms have demonstrated inadequacies in conducting comprehensive Business Wide Risk Assessments and Customer Risk Assessments, leaving significant gaps in their AML frameworks. Furthermore, financial crime controls have failed to keep pace with the rapid growth of these businesses.

AML 52

AML Financial Crimes Crime Risk Assessment 52

Neopay

OCTOBER 3, 2024

Key takeaway : If your business deals with high-risk clients, it’s crucial to implement enhanced due diligence procedures. Comprehensive audits and reviews : Our team conducts regular audits of your financial crime prevention systems, including AML, sanctions screening, and customer due diligence processes.

Financial Crimes 59

Financial Crimes Crime Due Diligence Compliance 59

Neopay

JANUARY 25, 2024

The new Guidelines highlight ML/TF risk factors and mitigating measures that CASPs need to consider, representing an important step forward in the EU’s fight against financial crime. Therefore, it is important that CASPs know about these risks and put in place measures that effectively mitigate them.

Service Provider 52

Service Provider Risk Due Diligence Money Laundering 52

PYMNTS

APRIL 26, 2018

The growing complexity of international supply chains inevitably adds complexity to risk mitigation and increases risk exposure to all players involved. Risk management is about identifying, assessing and controlling risk from an operational level and making decisions to balance the benefits,” Beare told PYMNTS in a recent interview.

Risk Management 54

Risk Management Risk Risk Mitigation Mitigation 54

Neopay

APRIL 8, 2024

Extended Due Diligence : More time for conducting due diligence checks on suspected fraudulent transactions leads to a stronger evidence base for rejection. Firms are encouraged to provide formal feedback to HM Treasury by 12 April 2024, to influence the final instrument and policy intent.

Service Provider 52

Service Provider Due Diligence Fraud Prevention Payments 52

The Payments Association

OCTOBER 14, 2024

By sharing costs, the regulations aim to encourage receiving firms to strengthen their transaction monitoring systems and customer due diligence processes to detect potential fraud before funds are transferred out of reach. Regular reviews and updates of these measures are expected to adapt to evolving fraud tactics​.

Caps 88

Caps Fraud Prevention Fraud Detection Scams 88

PYMNTS

JANUARY 16, 2020

Retail investors, said the FCA, “cannot reliably assess the value and risks of derivatives or exchange traded notes (ETNs) that reference certain cryptoassets” and estimated, too, that the ban could save £75 million to £234.3 The latest moves come after a ban on certain cryptocurrency related activities in July of last year. million a year.

Regulations 52

Regulations Money Laundering Due Diligence Cryptocurrency 52

PYMNTS

JANUARY 17, 2020

In recent mandates adopted by the United Kingdom’s Financial Conduct Authority (FCA), any companies the FCA’s purview that are tied to crypto assets must now assess their risk and exposure to possible money laundering and terrorist financing activities.

Money Laundering 57

Money Laundering Due Diligence Cryptocurrency AML 57

Neopay

JUNE 27, 2024

It is crucial to conduct a thorough assessment of your financial position and ensure that you meet the minimum capital requirements. Risk management framework: Develop a robust risk management framework that identifies, assesses and mitigates key risks associated with your business operations.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

The Fintech Times

SEPTEMBER 19, 2024

“This is done through the integration of risk management, adaptive risk mitigation, process automation, and real-time analysis. By continuously monitoring for emerging threats and vulnerabilities, organisations can take swift action to mitigate risks before they escalate into a full-blown crisis.

Risk 59

Risk Financial Crimes AML Risk Management 59

Seon

SEPTEMBER 23, 2024

While PEPs require enhanced due diligence , regulated entities typically don’t screen individual payments against PEP lists due to the risk of excessive false positives. Instead, PEP screening is conducted during customer onboarding and periodic reviews.

Suspicious Activity Report (SAR) 52

Suspicious Activity Report (SAR) Money Laundering Due Diligence AML 52

PYMNTS

JULY 15, 2020

Speaking with PYMNTS, eCapital Corporate President Steve McDonald explained that small businesses can indeed find value in such offerings, but emphasized the importance of SMBs doing their research when it comes to assessing all of their financing options. The Right Fit.

Innovation 54

Innovation Due Diligence End User Small Business 54

The Fintech Times

JUNE 20, 2024

So what can firms do to better mitigate this risk? Mitigating security gaps Despite tightening regulations, financial firms still encounter multiple cybersecurity blind spots. For banks, a successful cyber-attack can bring about monumental financial losses.

Risk 59

Risk Cybersecurity Data Breach Ransomware 59

Segpay

JANUARY 30, 2025

High-Risk Classification: A Core Concern Regulators and card schemes classify businesses based on perceived risk, assessing the likelihood of chargebacks, fraud, and other liabilities. Open dialogues can address potential concerns and highlight the companys commitment to mitigating risks.

Merchant Payment Processing 52

Merchant Payment Processing Processors AI Process 52

Fintech News

JANUARY 16, 2024

Generative AI offers many applications in banking, from enhancing due diligence and risk management to streamlining legal contract generation and code writing. Banks must proactively plan and adapt to mitigate these risks effectively. Banks are now implementing generative AI strategies and reporting impressive results.

AI 114

AI Risk Non-Bank On-Demand 114

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. Benefits of Effective Vendor Management: 1.

Risk Mitigation 40

Risk Mitigation Mitigation Risk Assessment Assessments 40

Global Fintech & Digital Assets

MARCH 5, 2024

Banks are expected to apply the follow guidance in connection with their digital asset custodial services: Governance and risk management : Prior to launching digital asset custodial services, banks are expected to undertake a comprehensive risk assessment and to implement appropriate policies and procedures to mitigate identified risks.

Authorization 59

Authorization Product Procedures Due Diligence 59

Global Fintech & Digital Assets

DECEMBER 21, 2023

The safety and soundness of the overall financial system, coupled with the mitigation of adverse customer outcomes, remain the OCC’s top priorities generally, and in the BNPL lending market specifically.

OCC 59

OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

Segpay

OCTOBER 4, 2023

The risk is exceptionally high when merchants refrain from subjecting their affiliates to solid due diligence (KYC screening) during the customer acceptance process. Source: WebShield To mitigate these compliance risks, merchants and affiliates involved in affiliate marketing should implement robust compliance programs.

Security 52

Security Due Diligence Compliance Payments 52

Fintech News

JANUARY 24, 2024

The move aims to protect against financial crime and loss, particularly in digital fraud, and includes broadening DPT service definitions and enhancing Anti-Money Laundering (AML) protocols such as Customer Due Diligence and transaction monitoring.

Service Provider 98

Service Provider Cryptocurrency Payments Institute Blockchain 98