Global Fintech & Digital Assets

MARCH 5, 2024

Banks’ contingency and disaster recovery arrangements should cover any disruption to the outsourced services. Regulator sets out its expectations for banks looking to provide digital asset custody services, and sell and distribute tokenised products.

Authorization 59

Authorization Product Due Diligence Procedures 59

Nanonets

DECEMBER 13, 2023

This transparency is essential for regulatory audits, allowing authorities to review the entire process and verify that each step adheres to compliance requirements. The audit trail acts as a comprehensive record, demonstrating due diligence in regulatory adherence.

AI 102

AI Process Fraud Detection Compliance 102

Neopay

JUNE 27, 2024

This includes implementing robust customer due diligence processes, screening arrangements, customer risk assessment, transaction monitoring systems and ongoing due diligence reviews and risk assessments. This includes redundant systems, backup facilities, and disaster recovery procedures.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

The Payments Association

MARCH 20, 2025

Resilience has moved away from recovery and further towards anticipation, mitigation, and adaptability to these challenges. Having robust contingency plans, backup systems, and disaster recovery mechanisms ensures that, in the event of a failure, operations can continue with minimal impact.

Compliance 88

Compliance Disaster Recovery Regulatory Compliance Risk 88