Neopay

OCTOBER 10, 2024

These letters outline specific expectations for payment institutions, e-money institutions, banks, and building societies. This includes both the technical aspects, such as transaction monitoring, and the human elements, such as staff training and procedural reviews.

Due Diligence 52

Due Diligence Fraud Prevention Financial Crimes Compliance 52

The Payments Association

OCTOBER 22, 2024

Payment institutions, e-money institutions and credit unions that issue e-money (together, “Payments Firms”) are required to protect funds received in connection with making a payment or in exchange for e-money issued through safeguarding (“Relevant Funds”). Who is impacted?

Consulting 88

Consulting Rules Treasury Due Diligence 88

The Payments Association

OCTOBER 11, 2024

The proposals will impact authorised payment institutions, e-money institutions, and other relevant firms, with a broader interest for consumers, insolvency practitioners, and legal professionals. Additionally, the FCA advises firms to diversify their third-party risks.

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

Neopay

JUNE 27, 2024

This includes understanding the different types of licenses available, such as payment institution (PI) licenses or electronic money institution (EMI) licenses. Reporting suspicious activity: Establish clear procedures for reporting suspicious activity to the relevant authorities.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

PYMNTS

JANUARY 26, 2017

G2 found that, in response, cybercriminals have shifted their illicit transactions to alternative payments systems, new entrants and cryptocurrency. Fraudsters’ relentless search for vulnerabilities in these systems has spawned a new threat G2 calls “payment laundering.”. But that’s not where the story ends.

Transactions 44

Transactions Bitcoin Online and Mobile Banking Due Diligence 44