VISTA InfoSec

NOVEMBER 4, 2024

It helps the organization systematically address potential vulnerabilities and enhance cyber resilience. This comprehensive assessment identifies any discrepancies between your existing frameworks and the regulatory standards, enabling you to pinpoint areas that require enhancement.

Compliance 130

Compliance Third-Party Service Provider Risk Management Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

It helps the organization systematically address potential vulnerabilities and enhance cyber resilience. This comprehensive assessment identifies any discrepancies between your existing frameworks and the regulatory standards, enabling you to pinpoint areas that require enhancement.

Compliance 130

Compliance Third-Party Service Provider Risk Management Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

It helps the organization systematically address potential vulnerabilities and enhance cyber resilience. This comprehensive assessment identifies any discrepancies between your existing frameworks and the regulatory standards, enabling you to pinpoint areas that require enhancement.

Compliance 130

Compliance Third-Party Service Provider Risk Management Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

It helps the organization systematically address potential vulnerabilities and enhance cyber resilience. This comprehensive assessment identifies any discrepancies between your existing frameworks and the regulatory standards, enabling you to pinpoint areas that require enhancement.

Compliance 130

Compliance Third-Party Service Provider Risk Management Audit 130

Stax

NOVEMBER 27, 2023

KYC’s three main components are the customer identification program (CIP), which was imposed by the USA Patriot Act in 2011; customer due diligence (CDD); and regular monitoring of the customer’s account and activities, which is also called enhanced due diligence (EDD). In the U.S.,

Due Diligence 88

Due Diligence Money Laundering AML Financial Crimes 88

PYMNTS

FEBRUARY 7, 2019

Randy Fields, chairman and CEO of ReposiTrak parent company Park City Group , said this legislation exemplifies the difficulties of supply chain compliance in the food sector, and demonstrates the limitations of technology in automating compliance and due diligence. regulations, even if a vendor is not in the U.S.

Compliance 65

Compliance Due Diligence Blockchain Audit 65

Fintech News

DECEMBER 17, 2023

By leveraging partnerships, new channels, and modern technology solutions, they can address these challenges and become more agile, evolving faster to meet the everchanging customer needs. They can conduct due diligence to select fintech and cloud providers, ensuring no weak links and addressing regulatory concerns.

Payment APIs and Integration 143

Payment APIs and Integration Money Laundering Due Diligence SWIFT 143

The Payments Association

OCTOBER 11, 2024

The reforms aim to address weaknesses in safeguarding practices, reduce consumer fund risks, and enhance regulatory compliance, particularly in preventing fund shortfalls. The FCA has stressed that these reforms are critical to addressing widespread weaknesses in safeguarding practices, which have led to significant consumer harm.

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

PYMNTS

JULY 24, 2020

A traditionally manual process involving PDF questionnaires, supplier due diligence is rarely at the top of the list when organizations are considering where to place their resources to invest in new, automated technology. Crossword Cybersecurity recently launched a new solution designed to address this pain point for small firms.

Risk 70

Risk Due Diligence Risk Mitigation Mitigation 70

Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Understanding, addressing, and managing them is crucial for maintaining business operations while ensuring safe payment processing for clients. The due diligence doesn’t stop at onboarding.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Neopay

DECEMBER 6, 2023

These changes demand immediate attention from UK-regulated firms, as they impact the application of enhanced customer due diligence (EDD) measures. This statutory instrument addresses significant shortcomings in anti-money laundering, counter-terrorist financing, and counter-proliferation financing controls.

Treasury 52

Treasury Due Diligence Risk Money Laundering 52

Innovative Payments Association

SEPTEMBER 5, 2024

To mitigate these risks and ensure proper oversight of third-party relationships, it is crucial for organizations to go beyond traditional due diligence and establish a comprehensive third-party oversight framework.

Boot Camp 52

Boot Camp Due Diligence Third Party Vendors Compliance 52

The Fintech Times

JANUARY 28, 2024

Moody’s new Shell Company Indicator analyses over 485 million companies, entities, and individuals to flag behaviours that indicate a shell company may require further due diligence to assess its potential for involvement in illicit financial activity.

Due Diligence 59

Due Diligence Financial Crimes Crime Assessments 59

Neopay

MARCH 7, 2024

In a recent move, the Financial Conduct Authority (FCA) has taken a significant step in addressing the prevalent anti-money laundering (AML) shortcomings among Annex 1 firms. It is imperative for these firms to promptly address any identified shortcomings to align with regulatory expectations. These must be addressed.”

AML 52

AML Financial Crimes Risk Assessment Due Diligence 52

Stax

NOVEMBER 21, 2024

However, you must do your due diligence and be sure that the payment gateway will integrate seamlessly with your existing systems and your PSP’s platform. Step 1: Assess your business’ industry Your industry may have unique credit card payment processing requirements that won’t be met by a generic PSP.

Credit Cards 88

Credit Cards Small Business Process Credit Card Payment Processing 88

Seon

SEPTEMBER 20, 2023

According to McKinsey, banks use up to 40% of their onboarding time on KYC and due diligence processes. This is often achieved by entering their email address and chosen password. Onboarding ensures the KYC process is worthwhile and well-informed by verifying the identity of prospective customers and assessing their risk level.

Process 52

Process Due Diligence AML Verification 52

The Fintech Times

JANUARY 25, 2024

While it is clear that organisations need to develop a risk-based approach to address PEP-related risks in the coming year, it is less obvious how they can begin to do this. Applying enhanced due diligence that draws upon the wealth of third-party data at an FI’s disposal is vital to the successful identification and classification of PEPs.

Risk 59

Risk Due Diligence Financial Crimes Money Laundering 59

Fintech News

JUNE 5, 2024

In the IEOM award-winning paper titled “Reimagining the Management of Outsourcing Life Cycles in the Fintech Era for Financial Services,” Dr Thng, together with SMU Doctor of Engineering candidate, Tristan Lim, introduced a novel outsourcing life cycle management model tailored to address the unique nuances of financial services more effectively.

FinTech 109

FinTech Mitigation On-Demand Risk 109

The Fintech Times

SEPTEMBER 30, 2024

The BeZero Carbon Rating assesses the quality of carbon credits on an eight-point scale ranging from ‘highest likelihood’ to ‘lowest likelihood’ of achieving a tonne of CO₂e avoided or removed. However, the research warns that SDG claims vary in integrity, similar to carbon efficacy, illustrating the importance of due diligence for buyers.

Due Diligence 64

Due Diligence Accreditation On-Demand Research 64

Fintech News

JANUARY 16, 2024

Generative AI offers many applications in banking, from enhancing due diligence and risk management to streamlining legal contract generation and code writing. Banks must assess their readiness to address interest rate-related risks and potential economic challenges.

AI 117

AI Risk Non-Bank On-Demand 117

Neopay

OCTOBER 15, 2024

Here’s a guide to address these areas and offer practical solutions to make training and auditing more effective, engaging, and impactful. Moving beyond ‘box-ticking’ assessments While assessments are an essential part of training, they should not become a formality.

Audit 59

Audit Compliance Assessments Financial Crimes 59

PYMNTS

SEPTEMBER 27, 2017

The FinTech space is hoping to address these challenges head-on, targeting the paper and manual-based processes of trade finance transactions though innovations like blockchain. The survey polled more than 515 banks and 1,336 companies across 103 countries, finding that FinTech innovators can, indeed, help address the $1.5

Finance 51

Finance Due Diligence FinTech Risk Assessment 51

Trade Credit & Liquidity Management

MAY 27, 2025

There are many inherent risks if you do not perform a thorough due diligence at the outset of a business relationship or when a customer’s ownership changes. Complete a thorough due diligence: Understand the nature and purpose of the seller/customer relationship. Seek and verify valid financial references.

Due Diligence 52

Due Diligence OFAC Compliance Fincen 52

Neopay

MARCH 15, 2024

The consultation, which closes on 9 th June 2024, seeks to address identified shortcomings in the current regulations while aligning with the broader objectives outlined in the Economic Crime Plan 2023-26. System coordination: Strengthening coordination among various systems involved in combating money laundering and terrorist financing.

Money Laundering 52

Money Laundering Consulting Treasury Regulations 52

Nanonets

DECEMBER 13, 2023

Real-time reporting enables insurers to address compliance concerns promptly, minimizing the impact on operations. The audit trail acts as a comprehensive record, demonstrating due diligence in regulatory adherence. In addition, AI employs predictive analytics to assess and analyze historical claims data.

AI 102

AI Process Fraud Detection Compliance 102

Stax

DECEMBER 27, 2023

Setting up a merchant account involves choosing the right merchant account provider for your needs, identifying your type of business, submitting an application, and undergoing an underwriting process to assess risk. This is especially common for high-risk accounts, as more vetting and due diligence are typically required.

Accounts 88

Accounts Online and Mobile Banking Payment Gateways PCI DSS 88

PYMNTS

JANUARY 17, 2020

And in tracking and stopping the flow of funds, challenges exist because authorities often cannot have crypto addresses shut down due to the decentralized nature of blockchains themselves, according to Chainalysis. The ruse generated new addresses to which each donor sent funds. The schemes themselves are varied.

Money Laundering 57

Money Laundering Due Diligence Cryptocurrency AML 57

Neopay

OCTOBER 3, 2024

Key takeaway : If your business deals with high-risk clients, it’s crucial to implement enhanced due diligence procedures. Comprehensive audits and reviews : Our team conducts regular audits of your financial crime prevention systems, including AML, sanctions screening, and customer due diligence processes.

Financial Crimes 59

Financial Crimes Due Diligence Crime Compliance 59

Neopay

DECEMBER 20, 2023

Indicators for enhanced due diligence The NCA, in collaboration with other government agencies, has outlined red flags to assist businesses in identifying potential illicit activities. Customer’s name or address similarity to parties on the OFSI consolidated list. Items or services not fitting the purchaser’s line of business.

Due Diligence 52

Due Diligence End User Crime Financial Crimes 52

The Fintech Times

JULY 20, 2024

Additionally, firms must assess existing authorities for cloud service provider (CSP) oversight. Similarly, they must establish best practices for third-party risk associated with cloud service providers, outsourcing, and due diligence processes to increase transparency.

Treasury 59

Treasury FS-ISAC Consumer Financial Protection Bureau (CFPB) Due Diligence 59

PYMNTS

MARCH 22, 2019

Invoice financing, he said, still is a “paper-heavy process” that is marked by high interest rates — and these inefficiencies can be addressed by blockchain, which eliminates the need for third parties. It is in the context of risk assessment that artificial intelligence (AI) can play a role in invoice financing, said the executive.

Blockchain 65

Blockchain Finance Risk Assessment Due Diligence 65

Neopay

JANUARY 25, 2024

Given the interdependence of the financial sector, the new Guidelines also include guidance addressed to other credit and financial institutions that have CASPs as their customers or which are exposed to crypto assets.

Service Provider 52

Service Provider Risk Due Diligence Money Laundering 52

PYMNTS

JANUARY 16, 2020

Retail investors, said the FCA, “cannot reliably assess the value and risks of derivatives or exchange traded notes (ETNs) that reference certain cryptoassets” and estimated, too, that the ban could save £75 million to £234.3 The latest moves come after a ban on certain cryptocurrency related activities in July of last year. million a year.

Regulations 52

Regulations Money Laundering Due Diligence Cryptocurrency 52

The Payments Association

OCTOBER 14, 2024

This 50/50 model encourages collaboration, with both parties incentivised to implement effective anti-fraud measures This approach helps address a longstanding challenge in fraud prevention. This includes ongoing monitoring and assessment of fraud detection technologies to ensure they remain effective and can respond quickly to new threats.

Caps 88

Caps Fraud Prevention Fraud Detection Scams 88

The Fintech Times

JANUARY 22, 2024

The Cayman Islands will be removed from the EU’s black list on 7 February after it ‘strengthened the effectiveness’ of its AML/CFT regimes and ‘addressed technical deficiencies’, the EU has said. Being removed from the EU’s AML list paves the way for further dialogue on the policy goals we pursue.”

AML 59

AML Due Diligence Money Laundering Governance 59

Stax

JANUARY 8, 2024

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. This includes their name, date of birth, address, identity documents, etc.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

The Fintech Times

JANUARY 22, 2024

The 2024 Code The 2024 Code comprises five distinct sections, each addressing critical aspects of corporate governance: board leadership and company purpose; division of responsibilities; composition, succession, and evaluation; audit, risk, and internal control; and remuneration.

Governance 59

Governance Government Due Diligence Audit 59