Neopay

APRIL 22, 2025

As regulatory and compliance specialists for payment and e-money firms, we recognise the importance for due diligence, transaction monitoring, and robust AML controls. Compliance regimes need to respond accordingly, with risk assessments that are proactive and substantive continuous monitoring.

Money Laundering 52

Money Laundering Crime Financial Crimes Due Diligence 52

Stax

JANUARY 23, 2025

The merchant underwriting process is a critical step that payment processors and financial institutions use to assess the risk associated with onboarding new businesses. Key steps include application review, risk assessment, credit checks, and compliance verification. Learn More What is Merchant Account Underwriting?

Underwriting 68

Underwriting PCI DSS Money Laundering Processors 68

M2P Fintech

APRIL 11, 2025

Due diligence was inadequate, and end-use monitoring, especially for high-value or income-generating loans, was inconsistent or missing. KYC and Purity Checks Mandatory KYC compliance and enhanced due diligence for high-value loans. Loan sanction letters should include the weight, purity, and valuation of gold accepted.

Due Diligence 52

Due Diligence Caps Audit Non-Bank 52

Fintech News

DECEMBER 6, 2023

The new tool, which utilises large language models (LLMs), aims to expedite the company’s “Know Your Customer” (KYC) assessments. According to Airwallex, the introduction of this generative AI technology has led to a 50 percent decrease in false-positive alerts during the KYC due diligence phase.

AI 116

AI Due Diligence Assessments Rules 116

Fintech News

OCTOBER 8, 2024

Under this proposal, DTSPs must apply for a license, and MAS will assess various aspects of the applicant’s business model, financial sustainability, and adherence to international regulatory standards. The consultation paper outlines MAS’ proposed approach to licensing and regulating DTSPs.

Service Provider 103

Service Provider Due Diligence AML Money Laundering 103

The Payments Association

JANUARY 29, 2025

Inadequate risk management and due diligence : Institutions faced challenges in ensuring effective customer risk profiling and due diligence, particularly for high-risk clients and correspondent banking relationships. October 2024: TD Bank$3 BillionAML TD Bank was fined $3 billion, including a $1.3

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

Neopay

DECEMBER 20, 2023

1371) will introduce notable changes in the assessment of risks associated with Politically Exposed Persons (PEPs). In the case of customers identified as domestic PEPs or having close associations with domestic PEPs, the initial risk assessment will consider them to present a lower level of risk compared to non-domestic PEPs.

Risk Assessment 52

Risk Assessment Money Laundering Assessments Regulations 52

The Paypers

JANUARY 14, 2021

Financial crime screening, payment services, and KYC solutions provider Accuity has announced the availability of Bankers Almanac Enhanced Due Diligence, according to the official press release.

Due Diligence 28

Due Diligence Risk Assessment Assessments Financial Crimes 28

Fintech News

OCTOBER 6, 2024

One major focus is on proactive prevention, where the IMC advocates for tighter regulations on corporate service providers and enhanced due diligence for non-financial sectors vulnerable to exploitation by money launderers.

Money Laundering 119

Money Laundering Law Enforcement Financial Crimes Due Diligence 119

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

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

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

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

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., Contact us for a free demo today.

Due Diligence 88

Due Diligence Money Laundering AML Financial Crimes 88

PYMNTS

JANUARY 30, 2019

So the idea that the money laundering directive in Europe would mandate beneficial ownership as a part of enhanced customer due diligence “is, in some ways, the logical next step,” Gaddy said. Forex companies, in particular, move money as they change it from different currency types.

Due Diligence 74

Due Diligence Verification Money Laundering FinTech 74

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.

Risk Management 59

Risk Management Risk Due Diligence Acquirers 59

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 Audit Blockchain 65

The Fintech Times

AUGUST 11, 2024

The review focused on how firms are adhering to crucial measures such as personalised risk warnings, mandatory 24-hour cooling-off periods, client categorisation, and appropriateness assessments. The poor In contrast, firms displaying the poorest practices failed to implement robust due diligence processes.

Compliance 69

Compliance Due Diligence Regulations Risk 69

PYMNTS

JANUARY 24, 2019

With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes. ” Organizations must do more with less, and they must do it quickly, he continued.

Compliance 76

Compliance Due Diligence Risk Mitigation Risk 76

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. So it’s not exactly surprising that supply chain risk mitigation efforts can fall by the wayside.

Risk 70

Risk Due Diligence Risk Mitigation Mitigation 70

PYMNTS

SEPTEMBER 28, 2020

A strong, risk-based authentication engine assesses the risk of login and authentication for every monetary and non-monetary transaction, applying stronger authentication for riskier users,” Yuval Marco, general manager of fraud and authentication at NICE Actimize, told PYMNTS. A Marriage Of Advanced Tech With Due Diligence.

Financial Crimes 81

Financial Crimes Crime Due Diligence Federal Trade Commission 81

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

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. The regulatory guidance necessitates regulated businesses to promptly update their geographical and customer risk assessments to reflect the latest changes.

Treasury 52

Treasury Due Diligence Risk Money Laundering 52

The Fintech Times

AUGUST 30, 2024

However, they must do their due diligence too, especially in the age of deep-fakes. This ongoing due diligence process is crucial to ensure that businesses continue to meet know your customer (KYC) regulatory requirements.

Authentication 64

Authentication Due Diligence Verification Compliance 64

Fi911

MARCH 14, 2024

Necessary Documentation to Provide a MID to a Merchant Before issuing a merchant identification number, banks or payment processors need to conduct due diligence to verify the legitimacy and financial stability of the merchant. A detailed business model, outlining the products or services offered and the transaction processing needs.

Due Diligence 105

Due Diligence Processors Fraud Detection Money Laundering 105

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

JUNE 3, 2024

Key considerations for a successful CiC Due Diligence : Prior to pursuing a CiC, thorough due diligence is essential. Regulatory compliance : Assess the target firm’s regulatory history. Additionally, the FCA assesses whether the business operations post-acquisition will remain largely the same.

Due Diligence 52

Due Diligence Acquirers Regulatory Compliance Regulations 52

The Payments Association

OCTOBER 11, 2024

Tighter oversight of third parties: When firms engage third parties to manage safeguarded funds, stricter due diligence and diversification will be required , reducing third-party failure risks. It’s crucial to choose auditors who are familiar with the FCA’s rules and can provide targeted insights into improving safeguarding measures.

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

PYMNTS

JULY 15, 2020

If Wirecard had done so, Cranston wrote, “it would most likely have used it to negotiate on price, but it did not do that, paying what it did because of its assessment of what was needed to gain the strategic access Hermes provided to the Indian market,” according to FT.

Due Diligence 64

Due Diligence Money Laundering Laws Legal 64

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

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 93

Financial Crimes Crime APACS Risk Assessment 93

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 Due Diligence 88

The Fintech Times

JANUARY 25, 2024

Given this backdrop, things are about to become a lot more complex for banks and financial service providers as they seek to onboard new customers and maintain due diligence on existing ones. Forming a risk-based approach can help FIs link their methodology back to their wider risk appetite and strategy.

Risk 59

Risk Due Diligence Financial Crimes Crime 59

The Paypers

MARCH 5, 2020

SIX Group has selected regtech provider Know Your Customer to strengthen its procurement process and better assess the risk associated with its international suppliers.

Due Diligence 28

Due Diligence Assessments Risk Process 28

Finovate

FEBRUARY 15, 2024

Features Automates KYC and KYB due diligence Streamlines approval and risk assessment workflows Delivers visual workspace for designing customer onboarding experiences Who’s it for? Payment providers, financial service providers, insurance companies, professional services, and banks.

Due Diligence 59

Due Diligence Risk Assessment CRM AI 59

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

PYMNTS

SEPTEMBER 23, 2019

Quantifind’s software-as-a-service (SaaS) offerings, which include help with investigations, customer due diligence and alert management, will integrate with Oracle’s Financial Crime and Compliance Management platform.

AML 65

AML Compliance Financial Crimes Automation 65