The Payments Association

DECEMBER 16, 2024

In addition to navigating multi-country operations and handling diverse currencies for payments and receipts, they must also address foreign exchange (FX) riskor exchange rate risk. This article explores FX risks in international payments and outlines strategies to minimise them, ensuring efficient and cost-effective operations.

International Payments 88

International Payments Risk Payments Strategy Multi-Currency 88

Payments Dive

APRIL 5, 2024

Virtual worlds “can become a haven for scams, fraud, financial losses, and unanticipated purchases that can deplete a family’s real-world financial assets,” CFPB Director Rohit Chopra said.

CFPB 144

CFPB Risk Scams 144

The Fintech Times

OCTOBER 18, 2024

Risk management is a necessity in fintech, as well as a legal obligation. The new fintech paradigm: balancing innovation and risk Fintech has shaken up the financial sector, but with this innovation comes a unique set of risks. Governance risks are tied to the company’s ability to comply with relevant laws and regulations.

Risk 108

Risk FinTech Risk Management Cybersecurity 108

Fintech Finance

OCTOBER 31, 2024

Across the globe, the dialogue about compliance and risk has changed and it has become increasingly challenging for emerging fintechs and bank sponsors to keep pace. The post Thredd Launches Suite of Enhanced Compliance and Risk Services appeared first on FF News | Fintech Finance.

Compliance 95

Compliance Risk Push-to-Card Scams 95

The Payments Association

NOVEMBER 25, 2024

De-risking endangers financial inclusion, driving MSBs out and boosting unregulated markets, calling for urgent reform. As professionals deeply embedded in the payments industry, we are acutely aware of the delicate balance between risk management and financial inclusion. The de-risking practices jeopardise these vital connections.

Risk 88

Risk Financial Crimes AML Financial Inclusion 88

Basis Theory

NOVEMBER 26, 2024

The Merchant Risk Council hosted a webinar that Basis Theory CEO Colin Luce presented at. We recap what Colin calls payments 3.0 for merchants.

Risk 88

Risk Payments Compliance 88

Fintech News

NOVEMBER 17, 2024

This forum, comprising representatives from Asia Pacific financial regulators and cloud service providers, convenes twice a year to discuss best practices for managing cloud risks in the financial sector. This exercise comes at a time of heightened awareness surrounding the potential for widespread disruption from technology failures.

Risk 114

Risk Best Practices APACS Authorization 114

VISTA InfoSec

JUNE 26, 2024

Such due diligence is of interest to you as an investor because cybersecurity affects the following: Regulatory Compliance Businesses with strong compliance records are safer investments, capable of mitigating risks and sustaining growth. Companies with strong cybersecurity risk management have the resilience to maintain business continuity.

Cybersecurity 256

Cybersecurity Due Diligence Security Breach 256

Payments Dive

OCTOBER 31, 2024

Financial firms monitor for fraud by looking for unusual activity, but an artificial intelligence model can be trained to transact like a real person.

Risk 103

Risk AI FinTech Transactions 103

Fintech Finance

NOVEMBER 21, 2024

The research also challenges assumptions that reimbursement leads to complacency; in fact, reimbursed victims report feeling more vigilant about fraud risks, not less. Reimbursement protects many aspects of social wellbeing and trust – for example, victims that are reimbursed are commonly less likely to have long-term emotional impacts.

Research 98

Research Risk Fraud Prevention Scams 98

VISTA InfoSec

FEBRUARY 25, 2024

Virtually every industry faces data breach risks today as sensitive information gets digitized and networked across cloud platforms. For customers exposed to breaches, identity theft risks skyrocket, leading to bank/credit card fraud plus medical/tax/employment fraud. What Gets Breached?

Data Breach 266

Data Breach Breach Multifactor Authentication Cybersecurity 266

VISTA InfoSec

MAY 24, 2024

Benefits of PCI DSS compliance for a small business: Enhanced Security reduces the risk of data breaches, fraud, and unauthorized access to sensitive cardholder data. It helps assess and mitigate security risks systematically by identifying vulnerabilities and implementing controls to address them before they materialize.

PCI DSS 240

PCI DSS Small Business Assessments Compliance 240

VISTA InfoSec

JULY 17, 2024

This way, you lower the risk of threats sneaking through cracks caused by misunderstandings. You won’t miss any risks hiding in non-English speaking areas of your network. Update your policies often to reflect new cybersecurity risks or compliance requirements The digital landscape changes quickly, so stay ahead.

Cybersecurity 231

Cybersecurity Compliance Encryption Best Practices 231

VISTA InfoSec

JUNE 18, 2024

Next, analyze potential risks like malware infections, phishing scams, or disgruntled team members leaking sensitive data. However, backups stored onsite remain vulnerable to physical risks like fires or theft. Regularly educate them on advanced data security best practices to turn this risk into a formidable guard.

Data Security 254

Data Security Security Encryption Cybersecurity 254

VISTA InfoSec

OCTOBER 21, 2024

As financial institutions increasingly rely on digital infrastructure to enhance operations, customer experience, and security, they also face growing challenges in mitigating the risks that come with it, such as cyber threats, system failures, and other operational vulnerabilities.

Compliance 152

Compliance Third-Party Service Provider Risk Assessment Audit 152

VISTA InfoSec

OCTOBER 21, 2024

They are appointed based on article 37 of GDPR, and help organizations stay compliant with data protection laws by overseeing data security policies, monitoring internal compliance, and providing expert advice for staffs managing the potential data privacy risks. Working closely with the supervisory authority on processing-related matters.

CCPA 178

CCPA Privacy Assessments Laws 178

Bank Automation

AUGUST 21, 2024

Financial institutions are looking to AI and generative AI to mitigate the rising risk of cyberattacks as fraudsters take advantage of the technology.

Cybersecurity 132

Cybersecurity AI Mitigation Risk 132

Fintech News

SEPTEMBER 22, 2024

A new report by LexisNexis Risk Solutions explores the state of digital fraud, revealing a 17% increase in digital fraud attacks within the financial services sector in 2023. Payment fraud, in which stolen payment credentials are used to make illegal transactions, rose by 9% YoY, signaling heightened financial risks for banks.

Accounts 143

Accounts Scams Bots Account Takeovers 143

Fintech News

OCTOBER 22, 2024

To address these risks, financial institutions in the region are adopting new security measures and embracing cutting-edge technologies, a new research by NICE Actimize found. However, the rapid pace of digital transformation has also introduced new risk challenges, with several prominent fraud cases highlighting these risks.

APACS 122

APACS Online and Mobile Banking Fraud Prevention Fraud Detection 122

VISTA InfoSec

JUNE 7, 2024

However, working predominantly or even exclusively through the internet also poses copious security risks to both individuals and companies. Implicit trust and the abundance of vulnerabilities in outdated security systems can lead to exposed IP addresses, the proliferation of spyware and other malware, and other security risks.

Micro-Entry 162

Micro-Entry Data Breach Breach Cybersecurity 162

Fintech Finance

OCTOBER 24, 2024

Set to go live in early 2025, this premiere payments solution will integrate Plaid’s instant account verification (IAV) and network-powered risk assessment capabilities into Dwolla’s pay by bank platform.

Risk Assessment 109

Risk Assessment Payment APIs and Integration Verification Assessments 109

VISTA InfoSec

JULY 1, 2024

These strategies will streamline your audit process, from planning and automation to focusing on high-risk areas and managing your time wisely. Focus on High-Risk Areas Not all areas need the same level of attention. Identify high-risk areas in your systems. High-risk areas are more likely to have issues.

Audit 130

Audit Compromise Security Automation 130

VISTA InfoSec

MARCH 5, 2024

Reflects the higher risk visitors can pose. Media Inventory Requires periodic inventories of all media Inventory specifically for electronic media with cardholder data Focus on where the highest risk data resides. To define the frequency of periodic POI device inspections based on the entity’s targeted risk analysis.

PCI DSS 147

PCI DSS Procedures Assessments Checks 147

Fintech News

NOVEMBER 27, 2024

Global verification provider Sumsub has partnered Elliptic, a cryptoasset risk management firm, to bolster its crypto transaction monitoring and Travel Rule solutions. Sumsub’s own Identity Fraud Report 2024 indicates that crypto is a high-risk industry for fraud. said James Smith, Co-founder of Elliptic.

Crime 113

Crime Financial Crimes Travel Rule Blockchain 113

The Fintech Times

NOVEMBER 27, 2024

Despite the fact that investing in crypto remains unregulated and high-risk, consumers appear to increasingly consider cryptoassets as part of ‘a wider investment portfolio’, leading to 26 per cent dipping into their long-term savings to purchase them. ” Has everything been accounted for?

Regulations 112

Regulations Stablecoins Risk Consulting 112

VISTA InfoSec

OCTOBER 21, 2024

The risk of cyber attacks for companies is increasing and can significantly disrupt their operations, have negative financial consequences and damage their reputation. 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

The Payments Association

DECEMBER 9, 2024

The dual impact of generative AI on payment security, highlighting its potential to enhance fraud detection while posing significant data privacy risks. Data leakage, model biases, and a lack of transparency in AI decision-making are just a few of the potential privacy risks that must be considered. What is this article about?

Privacy 88

Privacy AI Payment Security Security 88

Finextra

SEPTEMBER 16, 2024

Citigroup is stripping chief operating officer Anand Selva of his responsibility for data compliance after the bank was hit with $136 million in fines for its failure to address long-standing deficiencies in risk management and data governance.

Risk Management 124

Risk Management Compliance Addressing Government 124

Fintech Finance

DECEMBER 19, 2024

Visa (NYSE: V) today announced it has completed its acquisition of Featurespace , a developer of real-time artificial intelligence (AI) payments protection technology that prevents and mitigates payments fraud and financial crime risks. Visa will add Featurespaces capabilities into its range of fraud prevention and risk-scoring offerings.

Fraud Prevention 81

Fraud Prevention Financial Crimes Value Added Service AI 81

Open Banking Excellence

SEPTEMBER 25, 2024

As banks adapt to these transformative forces, attendees gain insights into innovative strategies, regulatory compliance, and customer-centric approaches that will define the future of banking.

Regulatory Compliance 130

Regulatory Compliance Fraud Prevention Cybersecurity AI 130

Fintech News

OCTOBER 6, 2024

Led by the Singapore Police Force (SPF), NAVIGATE will facilitate real-time and comprehensive analysis of money laundering risks across various agencies. It will allow law enforcement, sector supervisors, and government bodies to seamlessly screen databases and assess entities of concern for potential risks.

Money Laundering 123

Money Laundering Law Enforcement Financial Crimes Due Diligence 123

VISTA InfoSec

OCTOBER 21, 2024

Data Protection Impact Assessments (DPIA) DPO is required to oversee and guide the organization in conducting DPIAs, especially for high-risk processing activities, and provide the necessary support and advice in mitigating the identified risks. 4.Point Key Responsibilities of a Data Protection Officer 1.Monitoring

CCPA 130

CCPA Privacy Laws Data Breach 130

Fintech News

AUGUST 13, 2024

In a recent webinar hosted by the Fintech News Network, experts from the Bank for International Settlements (BIS), Wise, Airwallex, and LexisNexis Risk Solutions explored the latest trends and developments in cross-border payments, emphasizing the pioneering role of Southeast Asia in this rapidly evolving landscape.

Cross-Border Payments 127

Cross-Border Payments Cross-Border Payments Instant Payments 127