VISTA InfoSec

NOVEMBER 4, 2024

This comprehensive assessment identifies any discrepancies between your existing frameworks and the regulatory standards, enabling you to pinpoint areas that require enhancement. This could be from risk assessments to incident response, by incorporating these practices into day-to-day workflows you strengthen your organizations resilience.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

Neopay

MARCH 15, 2024

HM Treasury has initiated an open consultation aimed at refining the Money Laundering Regulations (MLRs) to bolster their effectiveness while reducing burdens on legitimate customers. To read the Improving the effectiveness of the Money Laundering Regulations consultation document, click here.

Money Laundering 52

Money Laundering Consulting Treasury Regulations 52

Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Thorough due diligence, technology, and adherence to regulatory guidelines are essential in a PayFac’s risk management strategy. The due diligence doesn’t stop at onboarding.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Stax

DECEMBER 4, 2023

An effective AML compliance program must include Know Your Customer (KYC) protocols, transaction monitoring and reporting, risk assessment and categorization, and training and awareness for staff. Risk assessment and categorization The first step towards mitigating risk is to assess it.

Money Laundering 88

Money Laundering Compliance AML BSA 88

Fintech News

MAY 22, 2024

Arctic Intelligence (Australia) Headquartered in Sydney, Australia, Arctic Intelligence is a multi-award-winning regtech company specializing in financial crime risk assessment technologies. For larger enterprises and the consultants assisting them, Arctic Intelligence offers the Risk Assessment Platform. Transparently.AI

Financial Crimes 103

Financial Crimes Crime APACS Risk Assessment 103

The Payments Association

OCTOBER 11, 2024

The Financial Conduct Authority (FCA) is consulting on new rules and guidance to strengthen the safeguarding of consumer funds in the payments and e-money sectors. Conducting thorough due diligence on these third parties is essential to ensure they meet the necessary standards of security and reliability.

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

Neopay

DECEMBER 6, 2023

The Financial Conduct Authority (FCA) employs skilled person reviews, also known as Section 166 reviews, to assess and rectify concerns within financial institutions. Skilled person reviews are an integral component of the FCA’s regulatory toolkit, initiated to obtain an independent and expert assessment of a firm’s activities.

Audit 59

Audit Regulatory Compliance Financial Crimes Compliance 59

Neopay

NOVEMBER 25, 2024

The Financial Conduct Authority (FCA) recently released its consultation document on proposed changes to the safeguarding regime for payments and e-money firms. The FCA’s consultation provides a roadmap to better safeguarding practices and consumer protection. What’s next?

Consumer Protection 52

Consumer Protection Consumer Audit Compliance 52

PYMNTS

FEBRUARY 28, 2019

. “Companies can’t afford to drop the ball on cyber risk, which is why conducting cyber risk due diligence has become an essential part of the M&A process,” wrote Deloitte in a separate report , which urges companies to develop a cybersecurity strategy prior to any merger. ” Business Partners At Risk.

Risk 65

Risk Data Breach Third Party Vendors Cybersecurity 65

Neopay

APRIL 26, 2024

Due diligence requests from regulated business partners and third parties are also increasing as the FCA’s more assertive approach ripples through the industry. Due diligence requests from regulated business partners and third parties are also increasing as the FCA’s more assertive approach ripples through the industry.

Audit 59

Audit Due Diligence Compliance Adjustments 59

Neopay

MARCH 14, 2024

It will be consulting this year on proposals to close gaps in protection and reduce risks of harm if firms fail. The due diligence process for third parties, which include authorised credit institutions, custodians or insurance providers, needs to be available and evidenced. This includes imposing safeguarding reviews.

Audit 59

Audit Risk Assessment Reconciliation Due Diligence 59

The Payments Association

OCTOBER 14, 2024

This decision follows consultations with payment service providers (PSPs) and pressure from The Payments Association after concerns that the higher cap would impose heavy financial burdens on smaller firms and start-ups. Regular reviews and updates of these measures are expected to adapt to evolving fraud tactics​.

Caps 88

Caps Fraud Prevention Fraud Detection Scams 88

Neopay

JANUARY 25, 2024

It also introduced new provisions in Article 19b to Directive (EU) 2015/849, mandating the EBA to clarify the due diligence requirements CASPs should apply in high ML/TF risk situations, and when entering into correspondent relationships with respondents that are CASPs from non-EU countries.

Service Provider 52

Service Provider Risk Due Diligence Money Laundering 52

Fintech News

JANUARY 24, 2024

In May 2023, the MAS released a Consultation Paper on amendments to the Payment Services Regulations 2019, introducing new measures for Digital Payment Token (DPT) services, including a requirement for customer asset safekeeping under statutory trust. The company provides crypto assets, as well as custody and clearing infrastructure services.

Service Provider 98

Service Provider Cryptocurrency Payments Institute Blockchain 98

Global Fintech & Digital Assets

MARCH 5, 2024

The guidance continues the momentum of digital asset regulation in Hong Kong, following a raft of other rules and consultations recently published by Hong Kong regulators. All of this recent guidance aims to deliver more certainty for banks and securities firms seeking to capitalise on developments in digital assets and tokenisation.

Authorization 59

Authorization Product Due Diligence Procedures 59

Fintech Labs Insights

MARCH 24, 2016

You say you wanna revolution in due diligence, but would love to see the plan? OutsideIQ has leveraged its strengths in cognitive computing and natural language processing to deliver an automated due diligence solution, DDIQ. Combining all that together.” “The whole key here is efficiency for the researcher.”

Due Diligence 14

Due Diligence Audit Regulatory Compliance Assessments 14

Neopay

JUNE 27, 2024

If you are partnering with a consultancy firm, make sure they provide workshops and training to help you ensure that you have a good understanding of the regulations that apply and, more importantly, how they apply to your specific business model and services.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

The Fintech Times

SEPTEMBER 19, 2024

By integrating risk assessments, controls, and regulatory obligations in real-time, and within a unified framework, institutions can proactively identify and mitigate risks associated with new regulations, such as operational resilience requirements. For fraud, the focus was historically on customer identity.

Risk 59

Risk Financial Crimes AML Risk Management 59

Neopay

JANUARY 2, 2024

In an exclusive interview with Neopay’s Consultancy Manager, Margita Layne, we delve into the pivotal role of internal and external monitoring in ensuring regulatory compliance within the financial services sector. For instance, this may include assessing the quality of the Annual MLRO Report.

Regulatory Compliance 59

Regulatory Compliance Compliance Audit Procedures 59

FICO

MARCH 6, 2020

The individual business risk assessment plays an important role and lays the foundation for any institution’s AML/ CTF program, including the IT-based monitoring strategy and software settings. Our KYC solution supports real-time customer risk classification including UBO and PEP identification.

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

The Fintech Times

MARCH 31, 2024

Financial Technology Research Centre (FTRC) Ian McKenna, founder, Financial Technology Research Centre (FTRC) Fintech consultancy, the Financial Technology Research Centre is hosting an AI in Financial Advice event this summer. All these nuances therefore need to be assessed on a case-by-case basis with human expertise.”

Risk 69

Risk AI Underwriting Automation 69

Global Fintech & Digital Assets

NOVEMBER 7, 2023

Dealing in, advising on, or managing portfolios investing in Tokenised Securities: Intermediaries should conduct due diligence on the issuers and their service providers and be satisfied that the ownership and technology risks of the Tokenised Securities are effectively managed.

Distributed Ledger Technology (DLT) 52

Distributed Ledger Technology (DLT) Security Settlement Risk 52

The Payments Association

JUNE 5, 2025

David Parker CEO, polymath consulting "Cash continues to remain resilient as a payment option. Imran Ali Payments consulting director, KPMG "While contactless cards continue to dominate, digital wallets are particularly appealing to younger consumers. However, we are now seeing a shift in the adoption of new technology.

Payments Trends 88

Payments Trends Consumer Online and Mobile Banking Debit Card 88

VISTA InfoSec

MAY 6, 2025

Type I reviews the design of controls at a specific point in time, while Type II assesses the effectiveness of those controls over a period (usually 312 months). SOC 2 is not legally required, but many clientsespecially in the B2B tech spacedemand it as part of vendor due diligence. How long does it take to get SOC 2 certified?

Audit 200

Audit Regulatory Compliance Data Breach ISOs 200

Neopay

MARCH 26, 2025

The European Banking Authority (EBA) launched on 6th March a public consultation on four draft Regulatory Technical Standards (RTS) that will be part of the EBAs response to the European Commissions Call for Advice. The consultation runs until 6 June 2025. the determination of the ML/TF risk associated with each institution.

Money Laundering 52

Money Laundering Consulting AML Rules 52

Finovate

JANUARY 28, 2025

PwC UK and PwC Channel Islands will deploy KYC Portal CLM , the company’s client lifecycle management platform that features AML technology, including risk assessment tools and advanced due diligence (CDD) capabilities. ” Founded in 2008, KYC Portal made its Finovate debut at FinovateEurope 2019 in London. .

Due Diligence 52

Due Diligence Risk Assessment Financial Crimes AML 52

The Payments Association

MAY 14, 2025

This includes visibility into documentation, rule application, and risk assessments. Attwal pointed to the expanding use of AI across the compliance lifecyclefrom onboarding and customer due diligence to transaction monitoring and sanctions screening. What follows is a summary of the key themes that emerged.

Cross-Border Payments 88

Cross-Border Payments Correspondent Bank Cross-Border Correspondent 88

The Payments Association

DECEMBER 9, 2024

As the FCA continues to assess firms’ operational resilience, it is vitally important that firms act now to modernise their infrastructure, implement comprehensive resilience plans, and demonstrate their ability to respond to and recover from disruptions without compromising critical services.

Rules 88

Rules Compliance Risk Management Regulations 88