VISTA InfoSec

OCTOBER 21, 2024

Understanding the significance of cyber security is crucial for protecting sensitive data and ensuring business continuity. 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.

Security 130

Security Phishing Ransomware Risk Assessment 130

PYMNTS

JUNE 20, 2017

But Big Data lands new capabilities in the hands of corporate treasurers and other executives that yields active, real-time assessments of risks from multiple angles, from counterparties to compliance. For fund investors, active risk management is of particular importance for treasurers, Hazeltree noted.

Risk Assessment 47

Risk Assessment Assessments Risk Risk Mitigation 47

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. This proactive stance involves continuous engagement with technological advances and collaboration with fintech firms to understand potential vulnerabilities.

Consumer Protection 105

Consumer Protection Innovation Consumer FinTech 105

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 89

Money Laundering Risk Crime Law Enforcement 89

The Fintech Times

JULY 31, 2024

“One of the most meaningful ways we protect our customers and their homes is to work with them to understand and mitigate risk,” said Rebecca L. ” With ZestyAI models, carriers are able to move from territory-based segmentation to a property-by-property risk assessment.

Risk 59

Risk AI Risk Assessment Assessments 59

PYMNTS

SEPTEMBER 25, 2018

The updates include connectivity with third parties, allowing its Fusion Framework System users to engage with their suppliers and other third parties in supply chains to streamline the vendor risk assessment process. The enhancement means third parties can more easily participate in a holistic risk mitigation strategy, Fusion noted.

Risk Management 73

Risk Management Risk Risk Mitigation Risk Assessment 73

Stax

JANUARY 8, 2024

As such, 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

The Payments Association

NOVEMBER 25, 2024

Banks continue to sever ties with MSBs like PFS without individualised assessments, often citing AML concerns or geopolitical risks associated with countries like Iran. This shift increases financial crime risk and erodes the efficacy of the UK’s AML and counter-terrorist financing (CTF) frameworks.

Risk 88

Risk Financial Crimes AML Financial Inclusion 88

VISTA InfoSec

OCTOBER 20, 2023

Healthcare organizations must implement HIPAA-compliant DRPs to protect ePHI, ensuring continued operation during disasters. Service Continuity : Ensures essential healthcare services remain operational. Financial Stability : Mitigates the financial impact of disasters, including costs from data breaches or loss of revenue.

Disaster Recovery 130

Disaster Recovery Regulatory Compliance Procedures Duplicate 130

VISTA InfoSec

JULY 31, 2023

Conduct Periodic Evaluations of Your Configuration Guidelines : Regularly review your configuration rules and flowcharts, at least every six months, to ensure they continue to meet your business needs. Doing so can help reduce the scope of PCI DSS compliance and minimize the risk of data breaches.

PCI DSS 130

PCI DSS Security Encryption Compliance 130

Finovate

DECEMBER 11, 2024

With the launch of its new GenAI Financial Crime Detection Suite, ThetaRay aims to enhance risk assessment, streamline operational workflows, and strengthen anti-money laundering (AML) reporting to reduce fraudulent activity, such as money laundering and terrorist financing. Vice President Yina Arenas.

Financial Crimes 59

Financial Crimes Crime Money Laundering Risk Assessment 59

PYMNTS

MARCH 23, 2020

. “But at the same time, they have all lacked a credible tool to conduct an assessment of these [SMBs] in an independent way.” These risk mitigation technologies are evolving at a crucial time for the SMB lending community, with coronavirus disruption threatening the survival of an untold number of SMBs.

Underwriting 75

Underwriting Risk Assessment Risk Mitigation Mitigation 75

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 adaptability of AI-powered forecasting models to changing conditions is a noteworthy advantage.

AI 102

AI Process Fraud Detection Compliance 102

Stax

AUGUST 22, 2024

In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. The due diligence doesn’t stop at onboarding.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Fintech News

MAY 14, 2024

The convergence of exponential increases in processing power, continuous advancements in deep learning and neural networks, and the democratisation of AI tools has fueled a creative explosion in digital media.

Deepfake 104

Deepfake Authentication Verification AI 104

Seon

MARCH 20, 2024

Digital footprint monitoring plays a crucial role in identifying and mitigating such schemes, enabling a proactive approach to fraud prevention. Beyond detecting fraud in onboarding circumstances, digital footprinting offers profound insights into risk assessment by facilitating a deeper data-driven understanding of a user’s digital behavior.

Fraud Prevention 98

Fraud Prevention Assessments Phishing Mitigation 98

Fintech News

JUNE 3, 2024

German insurance group Munich Re expects the market to continue its growth momentum, projected to triple in size by 2025. Finally, distributed denial-of-service (DDoS) attacks reached unprecedented volume in 2022, led by a substantial increase in nation state attacks and continued proliferation of low-cost DDoS-for-hire services.

Ransomware 85

Ransomware APACS Cybersecurity AI 85

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. The longer the system runs, the more precise it becomes, continuously refining its rules and thresholds to reduce fraud and increase accuracy.

Instant Payments 79

Instant Payments Transactions Payment APIs and Integration Compliance 79

FICO

JULY 31, 2019

As TPRM or third-party risk management grows in importance, so does cybersecurity risk assessment as part of it. The latest Assessment of Business Cyber Risk (ABC) report from the US Chamber of Commerce and FICO discusses four steps for improving third-party cybersecurity risk management. Infrastructure.

Risk 70

Risk Security Risk Assessment Risk Management 70

PYMNTS

JULY 24, 2020

So it’s not exactly surprising that supply chain risk mitigation efforts can fall by the wayside. Small businesses aren’t the only ones falling short on their supply chain, supplier and third-party risk management strategies. ” Yet SMBs face even greater headwinds in their efforts to mitigate these risks. .

Risk 70

Risk Due Diligence Risk Mitigation Mitigation 70

PYMNTS

NOVEMBER 11, 2016

When it comes to mitigating supplier risk, even the largest corporations are sometimes flying blind. But sophisticated data management does offer some predictability to vendor risk mitigation and supply chain management. ” “That becomes quite complex,” he continued.

Risk 68

Risk Risk Mitigation Mitigation Risk Assessment 68

Stax

DECEMBER 4, 2023

With the global economy moving online, corruption, fraud, trafficking, and other illicit activities continue to rise. 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. of global GDP.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

The Fintech Times

NOVEMBER 27, 2024

In light of this, integrating Elliptic’s analytics into Sumsub’s platform enables firms to protect users, providing a comprehensive view of blockchain transactions to mitigate financial crime. Together with Elliptic, we can provide powerful tools to streamline compliance, mitigate risks, and stay ahead of emerging threats in the sector.”

Transactions 59

Transactions Financial Crimes Crime Blockchain 59

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.

Risk Management 66

Risk Management Risk PCI DSS Process 66

Neopay

MAY 7, 2024

Proliferation financing: strengthening risk assessments The FCA underscores the necessity for firms to develop specific risk assessments and control mechanisms to prevent financial services from being exploited for the proliferation of weapons of mass destruction.

Financial Crimes 52

Financial Crimes Crime Risk Assessment Money Laundering 52

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 59

Risk Assessment Underwriting Assessments Risk 59

Neopay

MAY 31, 2024

With our tailored risk assessments, comprehensive training programs, regulatory guidance, compliance audits and continuous support, payment institutions can bolster their AML/CFT capabilities effectively. The post FCA Supervisory Activity Infographic appeared first on Neopay.

Financial Crimes 52

Financial Crimes AML Money Laundering Crime 52

Finovate

SEPTEMBER 4, 2024

Kentucky-based Venminder offers a SaaS platform for third-party risk management that helps more than 1,200 customers manage their vendor relationships– from onboarding to offboarding. “With the investment and support from Hg, we are well positioned to continue our rapid growth,” said Berman.

Risk Management 59

Risk Management Risk Due Diligence Acquirers 59

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 59

Risk Financial Crimes AML Risk Management 59

PYMNTS

OCTOBER 23, 2020

"That process of gathering data and having your expert personnel evaluate it to determine that risk is definitely the biggest challenge.". Risk Focus In Flux. Pre-pandemic, cybersecurity risks among third-party partners like suppliers had been top priority. Thinking Ahead. The second is to think proactively.

Risk 57

Risk Risk Mitigation Mitigation Cybersecurity 57

Fintech News

MAY 20, 2024

These virtual events became vital for maintaining business continuity, serving as a means for internal meetings and connecting with clients and audiences. Post-COVID-19, webinars continue to thrive, owing to their versatility, accessibility, affordability and effectiveness in engaging and educating audiences in an increasingly digital world.

FinTech 121

FinTech Embedded Finance BNPL AI 121

Fintech News

MARCH 20, 2024

Resilience in the banking sector must evolve beyond the traditional focus on recovery and stability, to encompass the enablement of dynamic, intelligent systems that can anticipate change, mitigate risks proactively, and offer personalised, real-time services to customers.

Cybersecurity 89

Cybersecurity On-Demand Database Automation 89

EBizCharge

JULY 22, 2024

Metrics for success: Financial metrics provide a clear picture of marketing campaign success, fostering continuous improvement and optimization. Some of these strategies include setting clear and attainable goals, applying accurate forecasting for better budget management, and risk assessments and mitigation.

Risk Assessment 52

Risk Assessment Assessments Risk Finance 52

Global Fintech & Digital Assets

DECEMBER 11, 2023

Covered financial institutions now face heightened expectations in relation to cybersecurity governance, risk assessment, and incident reporting. Requirements related to business continuity and disaster recovery have also been included for the first time.

Cybersecurity 59

Cybersecurity Multifactor Authentication Risk Assessment MFA 59

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

FICO

MAY 22, 2017

While a few have been critical that it was not bold enough, most reviewers seem to be endorsing the main message, both for what it does (initiating broad self-assessments by agencies), and for what it does not do (consolidate all accountability in the DoD). This, of course, requires an assessment of risk.

Cybersecurity 45

Cybersecurity Risk Assessment Assessments Risk 45

Center for Payments

SEPTEMBER 15, 2022

The FFIEC Guidelines require financial institutions to implement a solid business continuity management program, which includes an effective Business Continuity Plan. The past few years have taught us the importance of a solid business continuity plan. Does your plan include a method of communication with your customers/members?

FFIEC 40

FFIEC Risk Assessment Business Continuity Federal Reserve 40