The Fintech Times

MARCH 12, 2024

As the world grapples with the increasingly urgent need to address climate change, industries across the board are being called upon to play their part in mitigating its effects. It allows insurance providers and their customers to assess the risks of today and help prepare them for those of the future.”

Mitigation 72

Mitigation Risk Underwriting Risk Assessment 72

Fintech News

APRIL 28, 2024

The accreditation was granted following a meticulous evaluation process conducted by SFA, with an independent assessment by Price Waterhouse Coopers (PwC). Introduced in October 2022, the BNPL Code of Conduct aims to mitigate risks of consumer over-indebtedness and ensure fair practices within the sector.

BNPL 109

BNPL Compliance Accreditation Consumer Protection 109

Fintech News

JUNE 12, 2024

The complex nature of climate change, its global impact, and varying mitigation strategies across jurisdictions make monitoring and analysing climate-related financial risks particularly challenging. Project Viridis was first announced during BIS Innovation Hub’s workplan in January 2022.

Authorization 113

Authorization Risk Assessments Central Bank 113

VISTA InfoSec

NOVEMBER 12, 2024

became mandatory after being officially released on March 31, 2022, allowing organizations a transition period. SaaS providers must assess and monitor these vendors to ensure they meet PCI DSS requirements as well ( Requirement 12.8.4 ). Q2: How Often Should We Conduct PCI DSS Assessments? PCI DSS v4.0,

PCI DSS 130

PCI DSS Compliance Encryption Audit 130

VISTA InfoSec

NOVEMBER 12, 2024

became mandatory after being officially released on March 31, 2022, allowing organizations a transition period. SaaS providers must assess and monitor these vendors to ensure they meet PCI DSS requirements as well ( Requirement 12.8.4 ). Q2: How Often Should We Conduct PCI DSS Assessments? PCI DSS v4.0,

PCI DSS 130

PCI DSS Compliance Encryption Audit 130

Cardfellow

APRIL 27, 2025

was released in March of 2022, but the prior standard was intentionally left in place for 2 years following its release to allow time for assessors and businesses to understand the changes and make updates. You may recognize the Self-Assessment Questionnaire (SAQ) that businesses using the Defined Approach will submit.

PCI DSS 52

PCI DSS Encryption Processors Credit Cards 52

Fintech News

APRIL 7, 2024

Their comprehensive discussion sheds light on the significance of advanced AI and fraud detection technologies, and the importance of collaborative efforts to mitigate these risks. In 2022 alone, they resulted in losses of £107 million for UK consumers, US$2.6 billion for US consumers, and S$101 million in Singapore.

Deepfake 134

Deepfake Scams Fraud Detection Verification 134

The Payments Association

DECEMBER 10, 2024

This is evidenced by the fact that payment card fraud alone is projected to increase by over $10 billion between 2022 and 2028, according to the data. AI can normalise and translate distinctive dialects and regional nuances, enabling firms to analyse audio transcriptions from regions or populations that were, historically, hard to assess.

AI 88

AI Fraud Detection Fraud Prevention Deepfake 88

Fintech News

JUNE 3, 2024

The category is experiencing rapid growth within the global insurance market, with volumes tripling in the last five years to gross direct written premiums of US$13 billion in 2022, according to the Swiss Re Institute (SRI). In 2022, malware incidents rose for the first time since 2018, reaching 5.5

Ransomware 109

Ransomware APACS Cybersecurity AI 109

The Finance Weekly

AUGUST 26, 2023

Across various sectors, boards of directors are increasingly mandated to assess and disclose the effectiveness of risk management processes within their respective organizations. AI aids loan decisions, assessing individual risk profiles for granting loans and setting rates. This helps lenders proactively tackle credit risks.

Risk Management 130

Risk Management Risk AI Liquidity Risk 130

Fintech News

FEBRUARY 21, 2024

Such measures were designed to discourage speculative trading and mitigate financial risks for retail investors. This surge, contrasting with the dip seen in 2022, plots a concerning upward trajectory for ransomware from 2019 through 2023, signaling its growth into a more significant menace. billion (SG$20.06

Crime 109

Crime Ransomware Scams Romance Scams 109

VISTA InfoSec

AUGUST 22, 2023

Principle of data minimization: Only the minimum amount of biometric data necessary for the intended purpose should be collected and processed, requiring careful assessment and avoidance of excess. Voiceprint: Assessment of vocal attributes such as tone, pitch, and enunciation. Facts on Biometric Data Breaches and Fines Under GDPR 1.

Privacy 130

Privacy Legal Compliance Best Practices 130

The Finance Weekly

DECEMBER 30, 2021

Given the time of the year, and the opportunity for change it supposedly provides, here’s a suggestion for finance professionals in 2022: commit to a pragmatic approach to technological implementations this new year. Conduct a general assessment of risks and opportunities, including an analysis of the cost and impact of not moving forward.

Technology 130

Technology MSPS Small Business Data Security 130

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. Mitigating controls. Infrastructure.

Risk 70

Risk Security Risk Assessment Risk Management 70

Neopay

MAY 31, 2024

The Financial Conduct Authority (FCA) significantly increased its anti-money laundering (AML) and counter-terrorist financing (CTF) supervision activity in 2022-23. The FCA’s supervisory approach in 2022-23 utilised data and intelligence to target high-risk firms and streamline interventions. During this period, the FCA employed 52.8

Financial Crimes 52

Financial Crimes AML Money Laundering Audit 52

FICO

DECEMBER 19, 2022

Assessing Digital Identity — You Need to Ask “Who?” Mon, 12/19/2022 - 12:35. To mitigate identity and ATO fraud, banks have deployed many identity management capabilities like authentication, biometrics, behavioral profiling, decisioning and declines/holds. AND “Why?”. FICO Admin. Thu, 08/22/2019 - 12:37. by Adam Davies.

Assessments 52

Assessments Scams Authentication Authorization 52

FICO

JANUARY 10, 2023

Top 5 Fraud Posts for 2022: Scams, Contactless and Money Mules. Here are the five most-viewed posts from 2022 on the FICO Blog related to fraud. Fraud Trends for 2022: Top 5 Includes "Scamdemic" and Bad Bots. Matt recommended that lenders: Mitigate the risks now. Card Skimming Fraud Grows 700+% in First Half of 2022.

Scams 52

Scams Posting Push-to-Card Compromise 52

Open Banking Excellence

SEPTEMBER 21, 2023

DORA came into force on 27th Dec 2022 and organisations have until 17th Jan 2025 to become compliant. DORA is designed to “make sure the financial sector in Europe is able to stay resilient through a severe operational disruption”, the Council of the EU wrote in a statement announcing DORA in 2022. “We

FinTech 130

FinTech Compliance Regulations Non-Bank 130

Fintech News

JUNE 6, 2024

From December 2021 to January 2022, close to 800 individuals fell victim to an SMS phishing scam where fraudsters impersonated OCBC. This underscores the need for more robust, multi-layered identity verification solutions that can effectively mitigate the risks of these evolving fraud tactics,” said Frederic. US$129,841).

Scams 109

Scams Phishing Deepfake Verification 109

Finovate

DECEMBER 12, 2023

Headquartered in France, SESAMm won Best of Show in its Finovate debut at FinovateEurope 2022. “Any informed ESG assessment must be built on as large a data foundation as possible. In addition to ESG-related adverse events and controversies, ESG Fusion also provides assessments of industry-inherent risk of any given company.

Assessments 59

Assessments Risk Mitigation Mitigation AI 59

Finovate

SEPTEMBER 4, 2024

With Venminder, firms can manage vendors, track contract data, perform due diligence and oversight, send and score questionnaires, conduct risk assessments, systemically monitor risks across domains, order due diligence assessments on vendor controls, and more. With its purchase, Hg will bring both resources and expertise.

Risk Management 59

Risk Management Risk Due Diligence Acquirers 59

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 117

Cybersecurity On-Demand Database Automation 117

Global Fintech & Digital Assets

DECEMBER 21, 2023

In September 2022, it published an in-depth report on the BNPL landscape, and in September 2023 published another report on the consumer financial profiles of BNPL borrowers. The Federal Trade Commission (FTC) also published a short notice in September 2022 on the obligations of BNPL providers vis-à-vis the FTC Act.

OCC 59

OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

Neopay

MAY 7, 2024

The FCA aims to assist firms in understanding regulatory expectations while empowering them to assess the adequacy of their financial crime systems and controls. This involves implementing more stringent oversight and reporting processes, aligning with the 2022 update to the Money Laundering Regulations (MLR).

Financial Crimes 52

Financial Crimes Crime Risk Assessment Money Laundering 52

Fintech News

JANUARY 24, 2024

Data from MAS’ Financial Institutions Directory show that as of August 01, 2022, 231 Money-Changing, 13 Standard Payment Institutions, and 175 Major Payment Institution licenses had been issued. This is part of MAS’s broader strategy to strengthen consumer safeguards and mitigate risks in the digital currency domain.

Service Provider 98

Service Provider Cryptocurrency Payments Institute Blockchain 98

Trade Credit & Liquidity Management

MAY 27, 2025

billion in 2022 to over $250 billion by 2032, fueled by the relentless pace of digital transactions. billion in 2022 to $252.7 Experian ( www.experian.com ): Offers credit risk assessment tools and fraud detection services, leveraging extensive consumer and business data.

Fraud Prevention 52

Fraud Prevention Fraud Detection Verification Risk Assessment 52

FloQast

OCTOBER 27, 2023

Typically, compliance management will also include Identifying appropriate controls, Managing relationships with various regulators, Coordinating or responding to regulatory concerns and inquiries, and Mitigating regulatory breaches Why is Compliance Management Important? In 2022, the Securities and Exchange Commission (SEC) levied $1.1

Compliance 52

Compliance Best Practices Mitigation Procedures 52

FICO

OCTOBER 19, 2022

Wed, 10/19/2022 - 13:20. FICO’s report of UK card risk trends for summer 2022 (June-August) paints a picture of inconsistent consumer behaviour and market patterns which will be challenging for lenders to manage as the cost-of-living crisis impacts financial spending and consumer finances. Darcy Sullivan. Tue, 11/10/2020 - 12:17.

Risk 52

Risk Credit Cards Advisors Card Issuer 52

Fintech News

JANUARY 16, 2024

In 2022, data showed that bank customers still frequently utilised branches for various services. Banks must proactively plan and adapt to mitigate these risks effectively. Banks must assess their readiness to address interest rate-related risks and potential economic challenges.

AI 117

AI Risk Non-Bank On-Demand 117

Segpay

MAY 1, 2024

The Council of the European Union and the European Parliament formally adopted the legislation in November 2022. Some of DORA’s main pillars are: Operational Risk Management: DORA requires PSPs to implement robust operational risk management practices to identify, assess, mitigate, and monitor operational risks effectively.

Cybersecurity 52

Cybersecurity Compliance Procedures Risk Management 52

Stax

JUNE 20, 2024

Assess the program’s features and benefits, including technical support, marketing resources, and revenue-sharing models, to ensure they meet your needs. Robust security protocols and adherence to regulatory frameworks instill trust in customers, mitigating risks of data breaches and regulatory non-compliance.

ISVS 88

ISVS Payment APIs and Integration Compliance API 88

The Fintech Times

JUNE 20, 2024

No bank is immune to this threat, with ransomware attacks on financial services increasing from 55 per cent in 2022 to 64 per cent in 2023. So what can firms do to better mitigate this risk? Mitigating security gaps Despite tightening regulations, financial firms still encounter multiple cybersecurity blind spots.

Risk 59

Risk Cybersecurity Data Breach Ransomware 59

Stax

JANUARY 10, 2024

According to Capital One, global credit card transactions in 2022 reached an estimated 678 billion —an average of 1.86 Credit card fees, including interchange, assessment, and payment processor fees, impact businesses on a per-transaction or recurring basis. billion every single day. Usually, interchange fees will range between 0.3-2%

Credit Cards 88

Credit Cards Processors Debit Card Processing Costs 88

Global Fintech & Digital Assets

FEBRUARY 26, 2024

In December 2022, the Basel Committee issued a new standard: Prudential treatment of cryptoasset exposures. In advance of any acquisition of a new type of cryptoassets, an AI must inform the HKMA of its classification assessment of the cryptoassets.

Consulting 52

Consulting Regulations Distributed Ledger Technology (DLT) Stablecoins 52

Fintech News

APRIL 3, 2025

While compliance is voluntary, the SFA offers accreditation for BNPL providers through independent assessments. Consumer risk mitigation: The regulators are considering raising the minimum age further to 24-25 years old and increasing income thresholds to better align with financial responsibility, according to Asia News.

BNPL 113

BNPL Regulations Accreditation Consumer Protection 113

Stax

MARCH 4, 2024

of the global population using this method of payment in 2022. Ultimately, PCI DSS compliance helps prevent fraudulent transactions, mitigates data breaches, cultivates customer trust and protects your business. Outside of standard card transactions, mobile wallets are gaining popularity, with 3.4

PCI DSS 88

PCI DSS Payment Security Security MFA 88

EBizCharge

OCTOBER 25, 2023

Now more than ever, businesses are focusing on preventing data breaches and implementing response protocols to mitigate breaches if they occur. 15 best practices to prevent data breaches Since data breaches can cause significant damage, businesses must be diligent and proactive to prevent, address, mitigate, and avoid these threats.

Data Breach 52

Data Breach Best Practices Breach Phishing 52