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

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 123

Money Laundering Law Enforcement Financial Crimes Due Diligence 123

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

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

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

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

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

Fintech News

DECEMBER 17, 2023

They can conduct due diligence to select fintech and cloud providers, ensuring no weak links and addressing regulatory concerns. Featured image credit: Freepik The post From Legacy to a Thriving Financial Services Ecosystem appeared first on Fintech Singapore.

Payment APIs and Integration 143

Payment APIs and Integration Money Laundering Due Diligence SWIFT 143

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

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

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

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

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

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? The post FinovateEurope 2024 Sneak Peek Series: Part 6 appeared first on Finovate.

Due Diligence 59

Due Diligence Risk Assessment CRM AI 59

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. To receive new posts and support our work, consider becoming a paid subscriber. Trade Credit & Liquidity Management is a reader-supported publication.

Due Diligence 52

Due Diligence OFAC Compliance Fincen 52

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. The post ComplyAdvantage and FullCircl: Mastering PEP Risks in a Year of Political Change appeared first on The Fintech Times.

Risk 59

Risk Due Diligence Financial Crimes Crime 59

The Fintech Times

SEPTEMBER 14, 2024

“This improves customer due diligence by concurrently cross-referencing many databases to verify identities with potential clients and any risks associated with them. ” The post Using AI to Streamline Compliance Processes: The Future or Could Too Much go Wrong? appeared first on The Fintech Times.

Compliance 106

Compliance AI Process Suspicious Activity Report (SAR) 106

Neopay

MARCH 7, 2024

Risk Assessment weaknesses: Annex 1 firms have demonstrated inadequacies in conducting comprehensive Business Wide Risk Assessments and Customer Risk Assessments, leaving significant gaps in their AML frameworks. The post FCA issues warning to firms over AML failings appeared first on Neopay.

AML 52

AML Financial Crimes Crime Risk Assessment 52

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

Seon

JUNE 29, 2023

Part of staying compliant with KYT – and thus avoiding fines – involves assessing how effectively your organization has implemented the process. As such, it is part of an organization’s due diligence. It achieves this through transaction and behavior monitoring, risk assessment, and alert generation.

Transactions 52

Transactions Due Diligence Money Laundering AML 52

Seon

SEPTEMBER 20, 2023

According to McKinsey, banks use up to 40% of their onboarding time on KYC and due diligence processes. Onboarding ensures the KYC process is worthwhile and well-informed by verifying the identity of prospective customers and assessing their risk level. No customer wants to encounter it when they sign up with an organization.

Process 52

Process Due Diligence AML Verification 52

Neopay

OCTOBER 10, 2024

Customer Due Diligence (CDD) controls at onboarding and ongoing monitoring The effectiveness of Customer Due Diligence (CDD) controls remains critical, especially when onboarding new clients. The post FCA Dear CEO letters outline APP fraud reimbursement expectations appeared first on Neopay.

Due Diligence 52

Due Diligence Fraud Prevention Financial Crimes Compliance 52

Neopay

MARCH 15, 2024

Key themes of the consultation include: Proportionate customer due diligence: Streamlining and enhancing customer due diligence processes to strike a balance between effectiveness and proportionality. The post HM Treasury launches consultation to enhance money laundering regulations appeared first on Neopay.

Money Laundering 52

Money Laundering Consulting Treasury Regulations 52

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 Crime Due Diligence Compliance 59

Neopay

JULY 4, 2024

One of the current focusses is enhanced due diligence – right through the process, so for example risk assessments, operational processes, monitoring and reviews, its effectiveness in practice. There are a few – but to give a couple of examples: MAPP (Modular Assessment Proactive Programme) is fairly new. No problem.

AML 52

AML Due Diligence Suspicious Activity Report (SAR) Risk Assessment 52

Neopay

OCTOBER 15, 2024

Moving beyond ‘box-ticking’ assessments While assessments are an essential part of training, they should not become a formality. Open questions encourage participants to reflect on and articulate their grasp of key topics, allowing a deeper assessment of how well they understood the material. Screening results.

Audit 59

Audit Compliance Assessments Financial Crimes 59

Neopay

APRIL 8, 2024

Extended Due Diligence : More time for conducting due diligence checks on suspected fraudulent transactions leads to a stronger evidence base for rejection. The post Extra time for payment service providers to investigate fraud appeared first on Neopay.

Service Provider 52

Service Provider Due Diligence Fraud Prevention Payments 52

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. We assess transaction monitoring and fraud prevention systems, empowering your organisation to detect and prevent illicit activities effectively.

Due Diligence 52

Due Diligence End User Crime Financial Crimes 52

Fintech News

JUNE 5, 2024

Both loops converge at an eighth ‘Investigate’ node, which is the inception point where organisations assess their outsourcing needs, define business requirements, and gather market intelligence. The post Fintech Drives Financial Institutions to Rethink Outsourcing Strategies appeared first on Fintech Singapore.

FinTech 109

FinTech Mitigation Risk On-Demand 109

Finovate

AUGUST 12, 2024

The addition of SESAMm’s analysis will improve decision-making and help guide investment and due diligence. The solution delivers an overview of environmental, social, and governance risks to provide an easy way to visualize and assess a company’s reputational profile.

Due Diligence 59

Due Diligence AI Risk Assessments 59

Neopay

MARCH 14, 2024

The due diligence process for third parties, which include authorised credit institutions, custodians or insurance providers, needs to be available and evidenced. Risk assessments and due diligence of third parties should be reviewed regularly based on your safeguarding policy.

Audit 59

Audit Risk Assessment Reconciliation Due Diligence 59

FICO

JANUARY 25, 2018

Traditionally, the focus has been on chasing threats and vulnerabilities as they occur, using methodologies such as penetration testing and vulnerability assessments. We’ll discuss this specific aspect more in an upcoming blog post. When businesses extend credit to another organization, a credit risk assessment is standard practice.

Cybersecurity 49

Cybersecurity Risk Assessment Data Breach Due Diligence 49

The Fintech Times

JANUARY 22, 2024

It follows the assessment by the Financial Action Task Force (FATF) in October 2023 that concluded the Cayman Islands complies with global AML standards. ” The post Cayman Islands Celebrates EU’s Decision to Remove It from AML/CFT Blacklist appeared first on The Fintech Times.

AML 59

AML Due Diligence Money Laundering Government 59

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

FICO

JULY 14, 2016

Improved know your customer (KYC) coverage – Monitoring and assessing behavior has always been a trademark skillset for FICO analytics. Because KYC needs to stretch from initial due diligence to ongoing monitoring, behavioral analytics can help pinpoint the changes that are simply impossible to identify with rules alone.

Financial Crimes 66

Financial Crimes Crime Money Laundering Due Diligence 66

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

PYMNTS

JANUARY 17, 2020

Chainalysis reported in a recent blog post that last year, $2.8 In recent mandates adopted by the United Kingdom’s Financial Conduct Authority (FCA), any companies the FCA’s purview that are tied to crypto assets must now assess their risk and exposure to possible money laundering and terrorist financing activities.

Money Laundering 57

Money Laundering Due Diligence Cryptocurrency AML 57