Remove Audit Remove Due Diligence Remove Procedures
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Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures

The Payments Association

Businesses must proactively assess fraud risks, implement adequate procedures, leverage technology for fraud detection, and foster a culture of compliance to avoid regulatory penalties. Compliance requires proactive fraud risk assessment, the implementation of preventive procedures, and a culture of accountability. What’s next?

Crime 88
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Securing Your Wealth: How Cybersecurity Affects Investment Decisions

VISTA InfoSec

As an investor, due diligence in cybersecurity involves examining several areas. For instance, you can look at the company’s history of data breaches and their responses, the robustness of the cybersecurity infrastructure, and the presence of comprehensive security policies and procedures. 5 / 5 ( 1 vote )

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Navigating AML obligations in the age of virtual IBANs

The Payments Association

While vIBANs offer innovation in payment systems, they introduce risks like money laundering due to insufficient oversight. Payment Service Providers must strengthen due diligence, monitoring, and collaboration with regulators to address these risks. This leads to inadequate due diligence. What’s next?

IBAN 88
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Navigating RBI’s 2025 Gold Loan Directives with our Comprehensive Loan Management System

M2P Fintech

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. Purity checks must be documented and auditable.

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Another Revolut Fine – This Time from the Central Bank of Lithuania

Neopay

A Revolut representative said: Revolut Bank UAB is committed to the highest standards of regulatory compliance and cooperated with the Bank of Lithuania in taking immediate action to address the procedural deficiencies.

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Key learnings from 2024’s biggest financial crime fines

The Payments Association

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. Our expertise ensures that your business remains compliant, resilient, and well-positioned for growth.

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How to Maintain Anti-Money Laundering Compliance as a PayFac

Stax

TL;DR An anti-money laundering (AML) program is a set of laws and procedures that seek to uncover attempts to disguise illicit money as legitimate. An anti-money laundering (AML) program is a set of laws and procedures that seek to uncover attempts to disguise illicit money as legitimate. Let’s get started.