Due Diligence Risk Technology Risk 
Fintech News
OCTOBER 8, 2024
The aim is to mitigate the risks associated with such businesses. These include maintaining a minimum capital of S$ 250,000 and adhering to stringent AML/CFT obligations, such as conducting customer due diligence, monitoring transactions, and reporting suspicious activities.
PYMNTS
JUNE 17, 2020
The bank stands accused of failing to assess money laundering and terrorism financing risks; regulators said record-keeping was faulty and the company failed to monitor customer due diligence on transactions that may have been tied to child exploitation and endangerment. “There was no evidence of intentional wrongdoing.”.
Fintech News
JANUARY 24, 2024
The move aims to protect against financial crime and loss, particularly in digital fraud, and includes broadening DPT service definitions and enhancing Anti-Money Laundering (AML) protocols such as Customer Due Diligence and transaction monitoring.
PYMNTS
NOVEMBER 30, 2017
First, there’s the Capture product, which optimizes the due diligence portion of the onboarding process, Lam explained. Second, there are the risk management technologies, including the cyberspace crawler that automatically reads and analyzes social posts about the merchant.
Global Fintech & Digital Assets
NOVEMBER 7, 2023
The SFC notes the potential benefits of tokenisation, including increasing efficiency, enhancing transparency, reducing settlement time, and lowering costs for traditional finance, but also recognises that the use of DLT can create additional risks.
The Payments Association
DECEMBER 9, 2024
Financial institutions must align with UK and EU regulations by 2025, implementing unified compliance frameworks, advanced risk management, and real-time monitoring tools. Cyber threats rank as the fourth biggest risk for financial services in 2024, with an average score of 6.02 What’s next?
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