PYMNTS

JUNE 29, 2018

disclosed it had suffered a data breach, the company also revealed the cause of the cybersecurity incident: a third-party vendor. As the latest breach to hit a major, global conglomerate, the attack on Ticketmaster highlights the growing threat of cyber-weaknesses down a company’s supply chain. When Ticketmaster U.K.

Cybersecurity 49

Cybersecurity Breach Risk Third Party Vendors 49

Neopay

MARCH 6, 2025

enhanced due diligence: When firms operate under an AR structure, ensuring proper checks on business partners and their financial dealings is crucial. regular compliance audits: Proactive audits help in identifying gaps before they escalate into major regulatory breaches.

Money Laundering 52

Money Laundering Audit Due Diligence Compliance 52

The Fintech Times

AUGUST 11, 2024

While some firms demonstrated good practices, many fell short of the required standards, especially in their approach to due diligence on so-called ‘stable’ cryptoassets. The poor In contrast, firms displaying the poorest practices failed to implement robust due diligence processes.

Compliance 69

Compliance Due Diligence Regulations Risk 69

PYMNTS

JULY 24, 2020

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. So it’s not exactly surprising that supply chain risk mitigation efforts can fall by the wayside.

Risk 70

Risk Due Diligence Risk Mitigation Mitigation 70

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

OCTOBER 13, 2016

Madhu explained that there are two segments of KYC — customer due diligence and enhanced due diligence. Customer due diligence covers the steps a business must take to identify and verify a consumer that is interacting with them digitally. Why Compliance Is Going Social.

Compliance 76

Compliance Due Diligence Money Laundering Procedures 76

PYMNTS

MAY 19, 2020

This means that CEOs and executives should be required to periodically conduct due diligence to ensure that they still meet the relevant eligibility criteria. “Second, businesses must be required to reaffirm their eligibility so long as bonds they issue have not yet matured and any syndicated loans remain outstanding.

Federal Reserve 78

Federal Reserve Due Diligence Fed Procedures 78

Stax

NOVEMBER 21, 2024

It also ensures that data security best practices, particularly PCI DSS (Payment Card Industry Data Security Standards) requirements , are followed to the letter to prevent any breach or loss of sensitive customer data. As a small business owner, building a payment gateway from scratch may be too time-consuming and expensive.

Credit Cards 88

Credit Cards Small Business Process Credit Card Payment Processing 88

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. Data security and breach-prevention practices All payment systems run on information.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

The Fintech Times

FEBRUARY 12, 2024

As we approach the midpoint of February, the Abu Dhabi Global Market (ADGM) has been in the spotlight for celebrating achievements as well as penalising firms for breaching regulations. These fines totalled AED 170,000.

Distributed Ledger Technology (DLT) 59

Distributed Ledger Technology (DLT) Due Diligence Innovation Procedures 59

PYMNTS

JULY 10, 2019

data protection authority will hit Marriott with a £99 million ($123 million) fine for a breach that exposed the data of up to 383 million guests. Last year the hotel company revealed that guests’ data was accessed, tied to a breach of the Starwood hotel guest reservation database. Marriott generated about $3.6

Regulations 54

Regulations Due Diligence Breach Data Breach 54

PYMNTS

FEBRUARY 28, 2019

“Companies can’t afford to drop the ball on cyber risk, which is why conducting cyber risk due diligence has become an essential part of the M&A process,” wrote Deloitte in a separate report , which urges companies to develop a cybersecurity strategy prior to any merger.

Risk 65

Risk Data Breach Third Party Vendors Cybersecurity 65

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

VISTA InfoSec

NOVEMBER 4, 2024

Strengthen third-party risk management As third-party ICT providers play a crucial role in DORA compliance, establish a robust due diligence and assessment program. Plus, make sure to continuously monitor these providers to ensure they meet the required standards and maintain transparency in their security measures.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Strengthen third-party risk management As third-party ICT providers play a crucial role in DORA compliance, establish a robust due diligence and assessment program. Plus, make sure to continuously monitor these providers to ensure they meet the required standards and maintain transparency in their security measures.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Strengthen third-party risk management As third-party ICT providers play a crucial role in DORA compliance, establish a robust due diligence and assessment program. Plus, make sure to continuously monitor these providers to ensure they meet the required standards and maintain transparency in their security measures.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Strengthen third-party risk management As third-party ICT providers play a crucial role in DORA compliance, establish a robust due diligence and assessment program. Plus, make sure to continuously monitor these providers to ensure they meet the required standards and maintain transparency in their security measures.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 7, 2023

Identify areas most vulnerable to breaches and prioritize them for MFA integration. A little due diligence looking at aspects like user-friendliness, ease of rollout, and compatibility with existing systems will help to ensure you opt for the right product.

Authentication 130

Authentication MFA Cybersecurity Credential 130

The Fintech Times

JANUARY 13, 2024

Fenergo has released their annual financial fines analysis, showcasing that penalties for failing to comply with anti-money laundering (AML), KYC, environmental, social, and governance (ESG), sanctions and customer due diligence (CDD) regulations totalled $6.6billion in 2023, up considerably from $4.2billion in 2022 and $5.4billion in 2021.

Financial Crimes 59

Financial Crimes Due Diligence Compliance AML 59

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. He says: “I think the onus will be on doing appropriate due diligence at the start.

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

PYMNTS

MAY 2, 2019

Organizations are ramping up cybersecurity investments in response to the ever-climbing threat of data breaches and cyberattacks. The findings are troubling: 44 percent of survey respondents said their companies had experienced “a significant, business-altering data breach caused by a vendor.”

Data Breach 55

Data Breach Third Party Vendors Breach Cybersecurity 55

Neopay

OCTOBER 3, 2024

Key takeaway : If your business deals with high-risk clients, it’s crucial to implement enhanced due diligence procedures. Developing an agile response plan to deal with regulatory inquiries or breaches can help limit damage and ensure quick resolution.

Financial Crimes 59

Financial Crimes Crime Due Diligence Compliance 59

EBizCharge

JANUARY 21, 2025

Virtual terminals should implement strong payment security measures like encryption, tokenization, address encryption, address verification, and secure gateways to prevent fraud and data breaches. Merchants should do their due diligence to implement a secure virtual terminal that protects their business and builds customer trust.

Credit Cards 52

Credit Cards Encryption ACH Process 52

Stax

AUGUST 22, 2024

Thorough due diligence, technology, and adherence to regulatory guidelines are essential in a PayFac’s risk management strategy. You need thorough due diligence, technology, and adherence to regulatory guidelines in your risk management strategy. The due diligence doesn’t stop at onboarding.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Fintech News

JUNE 5, 2024

In addition, regulatory breaches can result in significant fines and loss of reputation, a highly regarded asset of any financial institution. This complexity is exacerbated in the context of fintech, where operational, compliance, and cybersecurity risks can significantly derail the outsourcing strategy of FIs.

FinTech 106

FinTech Mitigation Risk On-Demand 106

PYMNTS

APRIL 18, 2018

In the age of data breaches , there’s a lot of talk and tools emerging in the fraud prevention and risk mitigation spaces, but many merchants are overlooking one of the most damaging types of fraud: the kind that is carried out not by criminals, but by the merchant’s own trusted customers.

Due Diligence 40

Due Diligence Disputes Data Breach Fraud Prevention 40

PYMNTS

FEBRUARY 12, 2019

The vast majority also admitted that they do not conduct due diligence on all third parties, and 20 percent said they do not require their third-party partners to disclose their sub-contractors. ’s recent settlement emphasizes the continued challenge companies face in managing regulatory risks down their supply chains , too.

Settlement 43

Settlement Compliance Risk OFAC 43

PYMNTS

JUNE 10, 2019

In addition to the check issues, Deutsche Bank is looking into other “critical” and “significant” failings found by auditors, including client due-diligence name list screening practices in Hong Kong, Singapore and India, and staff sending sensitive information over WhatsApp or personal emails.

AML 55

AML Money Laundering Process Due Diligence 55

FICO

JANUARY 25, 2018

Cyber attacks and data breaches are daily occurrences and the consequences for a company that falls victim can be significant and include: Brand damage and reputation loss. Vendors and partners will want to know the risk you pose to their cybersecurity posture, due to the business you conduct together. Customer desertion. Credit risk.

Cybersecurity 49

Cybersecurity Risk Assessment Data Breach Due Diligence 49

Fintech News

JULY 17, 2024

And contrasting with the non-crypto native space, the Hong Kong Monetary Authority (HKMA) just fined DBS Bank (Hong Kong) Limited, the HK subsidiary of DBS , a HK$10 million penalty for breaches of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO).

Money Laundering 107

Money Laundering Law Enforcement AML Non-Bank 107

PYMNTS

APRIL 28, 2019

The draft report that the European Banking Authority voted to reject pointed to four breaches of EU law in how Danske Bank was supervised by Danish and Estonian authorities. It made recommendations for follow-up action for both countries, reported the paper.

Money Laundering 43

Money Laundering Due Diligence Authorization Laws 43

The Fintech Times

JULY 29, 2024

Julie Cunningham , founder and CEO Portend , the due diligence platform, explains how firms prioritising compliance completely avoid issues and are in turn, able to direct resources towards making change. Successful platforms prioritise proactive compliance measures and user education. .

FinTech 69

FinTech Due Diligence Cybersecurity Risk Mitigation 69

PYMNTS

FEBRUARY 2, 2018

The threat actors are doing substantial due diligence on the social engineering side of things,” the firm wrote, “and these emails look real. Ogletree Deakins warned that not only does this scam result in lost funds, but it is ultimately a data breach, with scammers gaining access to corporate systems and data.

Direct Deposit 48

Direct Deposit Payroll Scams Due Diligence 48

PYMNTS

APRIL 27, 2017

million fine by the Central Bank of Ireland due to compliance failures with anti-money laundering and terrorist financing rules. According to a report in Bloomberg News , in addition to the fine, the central bank reprimanded Allied Irish Banks (AIB) for six breaches of the law, with AIB admitting to the breaches.

Money Laundering 40

Money Laundering Compliance Central Bank Due Diligence 40

PYMNTS

MAY 16, 2018

May marks the debut of new compliance efforts – key among them, of course, GDPR (which covers Europe but touches these shores), and as of last week, new customer due diligence mandates. . To that end, risk solutions firm Kroll partnered with Ethisphere to offer up the Anti-Bribery & Corruption Benchmarking Report of 2018.

Due Diligence 40

Due Diligence Payroll Compliance Breach 40

PYMNTS

JANUARY 28, 2020

Best leave now if know-your-customer (KYC) due diligence isn’t your jam: The EU is already prepping 6AMLD, which cracks down even harder on money laundering, especially online gambling. The European Union’s Fifth Anti-Money Laundering Directive ( 5AMLD ) went into force on Jan.

AML 60

AML Compliance Money Laundering Due Diligence 60

The Fintech Times

JUNE 20, 2024

The severity of the challenge is demonstrated in IBM ’s Cost of a Data Breach Report 2023 , which ranks data breaches in the financial sector as second only to the healthcare industry in terms of costs. However, data breaches constitute only one facet of the risks confronting firms.

Risk 59

Risk Cybersecurity Data Breach Ransomware 59