Global Fintech & Digital Assets

DECEMBER 11, 2023

Covered financial institutions now face heightened expectations in relation to cybersecurity governance, risk assessment, and incident reporting. Key Amendments “Class A” Companies The Amendments create a new category of covered entities — deemed “Class A” companies — with heightened cybersecurity obligations.

Cybersecurity 59

Cybersecurity Multifactor Authentication Risk Assessment MFA 59

Fintech News

JUNE 3, 2024

Despite its rapid growth, the APAC region remains the second smallest cyber insurance market globally, S&P Global says, a statement that aligns with findings of a Moody’s survey which revealed strong cybersecurity oversight among APAC players compared to global counterparts. trillion annually by 2025.

Ransomware 107

Ransomware APACS Cybersecurity AI 107

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

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

VISTA InfoSec

NOVEMBER 4, 2024

Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions. This could be from risk assessments to incident response, by incorporating these practices into day-to-day workflows you strengthen your organizations resilience.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions. This could be from risk assessments to incident response, by incorporating these practices into day-to-day workflows you strengthen your organizations resilience.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions. This could be from risk assessments to incident response, by incorporating these practices into day-to-day workflows you strengthen your organizations resilience.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions. This could be from risk assessments to incident response, by incorporating these practices into day-to-day workflows you strengthen your organizations resilience.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

SEPTEMBER 5, 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. Protecting against cyber attacks is essential for SMEs and implementing a multi-layered cybersecurity strategy can enhance their defense mechanisms.

Security 130

Security Phishing Ransomware Risk Assessment 130

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. Protecting against cyber attacks is essential for SMEs and implementing a multi-layered cybersecurity strategy can enhance their defense mechanisms.

Security 130

Security Phishing Ransomware Risk Assessment 130

The Finance Weekly

SEPTEMBER 23, 2021

Cybersecurity. The urge to strengthen security processes and , implement cybersecurity measures is increasing as a result of these inherent hazards. Some of the best strategies for improving cybersecurity are included below to enable a secure digital transformation.

Risk Assessment 130

Risk Assessment Cross-Border AI Automation 130

PYMNTS

MARCH 12, 2018

The company just launched its Data Breach Readiness solution designed specifically for small- and medium-sized businesses, which often don’t have the resources to invest in both fraud prevention and mitigation solutions. According to Thompson, employee education is “the best solution for preventing a data breach.”.

Small Business 54

Small Business Cybersecurity Risk Assessment Data Breach 54

FICO

JANUARY 24, 2018

Two of today’s hottest tech topics — cybersecurity insurance and artificial intelligence (AI) — were well represented at recent conferences in insurance and banking, respectively: Advisen Cyber Risks Insights Conference and Bank AI Expo. Advisen: Barbican Takes a Leadership Stance on Cybersecurity Insurance. Here’s my take.

Cybersecurity 55

Cybersecurity AI Underwriting Risk 55

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 97

Risk Management Risk PCI DSS Process 97

Fintech News

MARCH 20, 2024

Factors such as the unbanked population, system outages, cybersecurity threats, and the rise of fintechs pose significant barriers to this connection, underscoring the urgent need for banks to fortify their operational resilience (OpRes) and Information Technology resilience (ItRes).

Cybersecurity 114

Cybersecurity On-Demand Database Automation 114

Stax

JANUARY 8, 2024

However, several complex types of risks come along with this. 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. Early detection can help in the rapid mitigation of fraud.

Risk Management 88

Risk Management Risk Money Laundering Procedures 88

Fintech News

MAY 20, 2024

Cyber Crimes, Cybersecurity, and Fintech Panel Event May 23, 2024, 12:00 CEST On May 23, 2024, at 12:00 CEST, a panel event titled “Cyber Crimes, Cybersecurity, and Fintech” will be hosted by Peirce College. Moreover, AI fosters the creation of new financial products and services previously inconceivable.

FinTech 135

FinTech Embedded Finance BNPL On-Demand 135

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.

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. “The pandemic and the economic impact of it are a double-whammy for SMEs when it comes to risk via the supply chain,” explained Jake Holloway , chief product officer at Crossword Cybersecurity. ”

Risk 70

Risk Due Diligence Risk Mitigation Mitigation 70

FICO

AUGUST 27, 2019

A growing percentage of cybersecurity incidents against businesses are the result of initial compromises against third parties, allowing malicious actors to gain access through a trusted relationship, move laterally and escalate privileges, and ultimately attain their target. This risk is highlighted in a new report by the U.S.

Cybersecurity 40

Cybersecurity Risk Management Assessments Risk Assessment 40

FICO

JUNE 13, 2017

The use of scores that rate a firm’s cybersecurity risk — such as the FICO® Enterprise Security Score — is picking up momentum. One reason is that there is a potential for cybersecurity ratings to be used in ways that create damage rather than value. Why were principles needed?

Risk 85

Risk Disputes Cybersecurity Best Practices 85

PYMNTS

MAY 15, 2017

The news that hit Friday afternoon that malware and ransomware were racing across the globe at a breakneck pace, infecting computers at companies across verticals and causing havoc, brought cybersecurity to top of mind, yet again. . In prior years, a company may have used a third party to supply raw material or parts.

Cybersecurity 43

Cybersecurity Risk Disaster Recovery Risk Management 43

PYMNTS

OCTOBER 23, 2020

It's for this reason that cybersecurity risks have climbed to the top of procurement professionals' minds as they develop their supplier management strategies. But third-party risk is complex and multifaceted, demanding a juggling act of coordination, collaboration and research. Risk Focus In Flux. Thinking Ahead.

Risk 57

Risk Risk Mitigation Mitigation Cybersecurity 57

PYMNTS

FEBRUARY 19, 2020

They seek to test every new payment type (across small and large merchants), as well as pinpoint weaknesses in firms’ fraud detection and mitigation programs. Before eCommerce truly took root, much of fraud mitigation centered around what he termed “velocity counters.”

ATM 67

ATM Point-of-Sale (POS) Fraud Detection Mitigation 67

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

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

Segpay

MAY 1, 2024

This framework will have significant implications for global PSPs with clients in Europe, as it will require PSPs to strengthen their operational resilience capabilities, comply with regulatory requirements, and adapt their business practices to mitigate operational risks effectively.

Cybersecurity 52

Cybersecurity Compliance Procedures Risk Management 52

PYMNTS

APRIL 3, 2019

The cyber insurance market is an emerging sector, Sayata Labs CEO and Co-Founder Asaf Lifshitz explained in a recent interview with PYMNTS, and insurance providers are facing some tough hurdles in underwriting and risk mitigation. ”

Small Business 63

Small Business Underwriting Risk Cybersecurity 63

PYMNTS

MARCH 31, 2017

It can be difficult to know how to handle cybercriminals and their malicious attacks, especially when many people don’t have a foundational knowledge on what cybersecurity is all about. Cybersecurity Knowledge Put to the Test. Want to know how much Americans actually know about cybersecurity? The answer … not much.

Bitcoin 42

Bitcoin Ransomware Cybersecurity Money Laundering 42

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

Center for Payments

SEPTEMBER 15, 2022

Depending on where your financial institution is located, wildfires, tsunamis, hurricanes, earthquakes, droughts, floods, landslides, tornadoes, lightning, riots, cybersecurity risks, medical emergencies, and economic crises can create havoc on society. Does your plan include a method of communication with your customers/members?

FFIEC 40

FFIEC Risk Assessment Business Continuity Federal Reserve 40

FloQast

NOVEMBER 27, 2023

Additionally, areas such as risk management, segregation of duties, and even cybersecurity play pivotal roles. For instance, an effective risk management strategy helps companies preempt potential financial reporting pitfalls. As businesses grow and financial landscapes shift, risks aren’t static.

Compliance 52

Compliance Risk Assessment Audit 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

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 Due Diligence Procedures 59

FloQast

APRIL 8, 2024

Conduct regular risk assessments. Regularly assess the risk of material misstatement in financial reporting and adjust controls accordingly. This involves identifying potential risk areas, evaluating their likelihood and impact, and implementing mitigation measures. Foster a culture of compliance.

Compliance 52

Compliance Audit Best Practices Risk Assessment 52

FloQast

DECEMBER 13, 2023

These goals could include access control, change management, segregation of duties, cybersecurity solutions, and backup systems. Risk Assessment Risk assessment is the process of identifying and evaluating the risks that could impact achieving a company’s objectives. Here’s what often takes place.

Compliance 52

Compliance Audit White Collar Crime Risk Assessment 52

The Fintech Times

MARCH 18, 2024

They can analyse diverse data sources, such as transaction history, device fingerprinting, geolocation data, and social media activity, to create a comprehensive risk assessment for every transaction. Multi-dimensional analysis AI algorithms are powerful detectives in the fight against fraud.

Fraud Prevention 59

Fraud Prevention AI Fraud Detection Payments 59