PYMNTS

APRIL 28, 2019

A research group revealed that it has discovered “serious shortcomings” in the predictive tools used by law enforcement agencies. This report documents the serious shortcomings of risk assessment tools in the U.S. And it’s not just these researchers that believe the technology is flawed.

Law Enforcement 58

Law Enforcement Laws Risk Assessment AI 58

Nanonets

AUGUST 1, 2023

Internal audits play a crucial role in assessing a company's internal controls, corporate governance, and accounting processes. These audits are essential for ensuring compliance with laws and regulations, as well as maintaining accurate and timely financial reporting and data collection.

Audit 52

Audit Automation Bots Risk Assessment 52

Nanonets

JUNE 19, 2023

Accounts payable audits play a crucial role in the financial health of businesses. This article covers why accounts payable audits are important to maintain financial health and the steps in an AP audit process. We will also cover how automation helps to streamline the AP audit procedure. What is an AP Audit?

Audit 52

Audit Accounts Procedures Compliance 52

Stax

DECEMBER 4, 2023

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 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.

Money Laundering 88

Money Laundering Compliance AML BSA 88

Innovative Payments Association

AUGUST 29, 2024

This means that banks must adhere to federal regulations, such as the Bank Secrecy Act and anti-money laundering laws, when working with cannabis businesses. Conduct a Risk Assessment Before building a compliance program, businesses should conduct a thorough risk assessment to identify potential compliance risks.

Cannabis Banking 52

Cannabis Banking Boot Camp Compliance Money Laundering 52

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

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

Stax

JANUARY 8, 2024

To establish an effective risk management program as a PayFac, you must establish a dedicated risk management team, utilize the right tools and technology, develop proper risk management policies and procedures, conduct regular risk audits, and stay up-to-date with the latest industry regulations.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

Neopay

MARCH 14, 2024

The FCA also stated that it had prioritised safeguarding in its work with the Treasury on the repeal and replacement of retained EU law. It will be consulting this year on proposals to close gaps in protection and reduce risks of harm if firms fail. So, what should firms expect from a safeguarding review and how should they prepare?

Audit 59

Audit Risk Assessment Reconciliation Due Diligence 59

The Payments Association

MAY 16, 2025

Yet, as adoption increases, so do the risks While AI improves efficiency, speed, and scale, it also introduces new compliance risks, many of which remain under-acknowledged and insufficiently addressed. Failure to do so can lead to accusations of unfair treatment, discrimination, or even breaches of consumer protection laws.

Compliance 88

Compliance AI Risk Audit 88

The Fintech Times

NOVEMBER 26, 2024

Recent hires Recent compliance hires include: Todd McElduff – enterprise compliance director The enterprise compliance team at Binance is responsible for working with law enforcement to service requests and conduct special investigations, educating and training crime fighters.

Compliance 64

Compliance Financial Crimes Crime Money Laundering 64

Nanonets

DECEMBER 13, 2023

Audit Trail and Transparency: AI Insurance Claims Processing systems maintain detailed audit trails of all activities within the claims processing workflow. This transparency is essential for regulatory audits, allowing authorities to review the entire process and verify that each step adheres to compliance requirements.

AI 102

AI Process Fraud Detection Compliance 102

Global Fintech & Digital Assets

DECEMBER 11, 2023

Covered financial institutions now face heightened expectations in relation to cybersecurity governance, risk assessment, and incident reporting. Risk assessments should also be reviewed whenever a new business model is adopted or a new product is introduced.

Cybersecurity 59

Cybersecurity Multifactor Authentication Risk Assessment MFA 59

Nanonets

FEBRUARY 9, 2024

“the Sarbanese-Oxley Act of 2002” SOX, or the Sarbanes-Oxley Act, is a US federal law designed to protect against fraud and creative accounting techniques and applies to companies trading on US stock exchanges. The act requires companies to develop, publish, audit, and actively use their ICFR. What is an ICFR Audit?

Audit 52

Audit Risk Assessment Assessments Procedures 52

FloQast

DECEMBER 13, 2023

As we’ll learn in the following section, the Sarbanes-Oxley Act became law in 2002 in response to a series of corporate financial scandals. Congress was jolted into action on February 1, 2022 when the then University of Texas law school dean and member of the Enron Board of Directors, William C.

Compliance 52

Compliance Audit White Collar Crime Risk Assessment 52

The Payments Association

MAY 16, 2025

The FCA’s final guidance, issued in April 2025, outlines “reasonable procedures,” including fraud risk assessments, internal controls, staff training, and governance oversight. Next steps/action required: Conduct a comprehensive fraud risk assessment across all channels and partners.

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88

Stax

AUGUST 22, 2024

In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

FloQast

OCTOBER 27, 2023

Compliance management is a key element of an organization’s risk framework and involves providing advisory data to C-suite executives concerning regulatory risks the company faces. The risk assessment should also identify the potential consequences of each risk and the controls in place to mitigate those risks.

Compliance 52

Compliance Best Practices Mitigation Procedures 52

Seon

JUNE 29, 2023

It achieves this through transaction and behavior monitoring, risk assessment, and alert generation. Risk assessment: KYT is informed by data sources such as politically exposed person (PEP) lists, high-risk jurisdiction lists, and negative media and sanctions lists.

Transactions 52

Transactions Due Diligence Money Laundering AML 52

VISTA InfoSec

JULY 5, 2023

HIPAA plays a crucial role in modernizing the flow of healthcare information by specifying stringent requirements to protect the privacy of patients, referred to by the law as covered entities. All entities subject to HIPAA regulations, including business partners, must comply with the law.

PCI DSS 130

PCI DSS Compliance Data Breach Breach 130

PYMNTS

FEBRUARY 15, 2019

“Collaborative arrangements, as described [by the agencies],” they said in October, “generally are most suitable for banks with a community focus, less complex operations and lower-risk profiles for money laundering or terrorist financing. The unit ultimately wrote off $685 million.

BSA 49

BSA Credit Union Business Email Compromise Office of the Comptroller of the Currency 49

The Fintech Times

MARCH 5, 2024

Meo (formerly NewBanking), the Danish end-to-end platform helping clients with risk assessment and continuous due diligence, has secured €1.67million for increased growth and expansion in Europe – expanding clients beyond the traditional banking sector to VCs and law firms. 3 users with accurate, dependable and auditable data.

FinTech 59

FinTech Online and Mobile Banking Due Diligence Legal 59

Exact Payments

JANUARY 4, 2024

Remember that failing to meet these standards can result in significant consequences, such as fines, loss of business, and ongoing audits to demonstrate compliance. When adhering to PCI standards, it is crucial to limit the storage of cardholder data to what’s required by law, regulatory standards, or business needs.

PCI DSS 52

PCI DSS Compliance Audit Encryption 52

Global Fintech & Digital Assets

MARCH 5, 2024

Banks are expected to apply the follow guidance in connection with their digital asset custodial services: Governance and risk management : Prior to launching digital asset custodial services, banks are expected to undertake a comprehensive risk assessment and to implement appropriate policies and procedures to mitigate identified risks.

Authorization 59

Authorization Product Due Diligence Procedures 59

FICO

OCTOBER 5, 2017

Most institutions would like to grow their initial funnel into the originations process and use their limited marketing funds more effectively, so the payoff of injecting timely risk assessment into marketing can lead to a significant lift in revenue and profits.

Risk 56

Risk Push-to-Card B2C Online and Mobile Banking 56

Neopay

DECEMBER 2, 2024

Rather than making it difficult for criminals and then providing audit trails to assist the UK Financial Intelligence Unit (UKFIU), the onus now is on stopping any financial crime including money laundering from happening at all. The balance of prevention and reporting The balance has swung drastically to prevention rather than reporting.

Money Laundering 52

Money Laundering Financial Crimes Crime Compliance 52

Segpay

MAY 1, 2024

Some of DORA’s main pillars are: Operational Risk Management: DORA requires PSPs to implement robust operational risk management practices to identify, assess, mitigate, and monitor operational risks effectively.

Cybersecurity 52

Cybersecurity Compliance Procedures Consumer Protection 52

Segpay

DECEMBER 7, 2023

In this post, we will explain what is digital law , what it means for your business, and how Segpay can help you manage your online payments securely and efficiently. Appointing compliance officers Allowing external audits Providing access to data to researchers Enabling users to flag illegal or harmful content.

Compliance 52

Compliance Regulatory Compliance Privacy Data Security 52

Nanonets

JULY 25, 2023

Risk Assessment: Financial data analysis also plays a crucial role in assessing and managing risks. Through techniques like variance analysis, sensitivity analysis, and stress testing, analysts can identify potential risks and their impact on financial outcomes.

Financial Analysis 52

Financial Analysis Payment APIs and Integration Assessments Automation 52

Nanonets

DECEMBER 4, 2023

Guidelines to bolster security and compliance: Ensure automated systems comply with data protection laws like GDPR, HIPAA, etc. Conduct periodic audits and risk assessments of automated order processing systems. Educate staff on data security best practices in the context of automated systems.

Automation 52

Automation Process Payment APIs and Integration Returns 52

Nanonets

FEBRUARY 15, 2024

Governing Law This Agreement shall be governed by the laws of [Jurisdiction]. Termination This Agreement may be terminated by either party upon [Number] days written notice if the other party breaches any of its obligations under this Agreement and fails to cure such breach within [Number] days after receiving written notice.

Finance 52

Finance RFP Agreements Automation 52

Segpay

MARCH 10, 2025

Regulatory Compliance The gaming industry operates under strict financial and legal regulations, including AML (Anti-Money Laundering) laws, Know Your Customer (KYC) requirements, and PCI compliance. Segpay helps reduce chargebacks with AI-powered fraud detection, risk assessment tools, and automated dispute resolution processes.

Payment Gateways 40

Payment Gateways Gateways Payment Solutions Payment APIs and Integration 40

Fintech Labs Insights

JULY 22, 2015

This makes it very hard for businesses to ensure they’re compliant to avoid the wrath of the law. Collaboration on the app is fully audit-trailed, for all users on all devices. Its panel will demonstrate how its API integration allows for the most seamless consumption of Emailage fraud-risk assessment.

Payment APIs and Integration 29

Payment APIs and Integration Online and Mobile Banking API EMV 29

The Payments Association

MAY 19, 2025

statutory trust accounts, reconciliation, and external audits). Cross-border complexity: The UKs approach to defining digital assets as a distinct form of personal property diverges from other common law jurisdictions like Singapore and Australia, introducing potential contract enforcement risk.

Compliance 88

Compliance Stablecoins Regulations Payments 88

The Payments Association

MAY 14, 2025

We can develop systems that settle instantly, but unless the law backs us, it’s just a ledger of promises. This isnt only about speedwe need authenticated data, automated compliance, and shared responsibility for risk, he said. This includes visibility into documentation, rule application, and risk assessments.

Cross-Border Payments 88

Cross-Border Payments Correspondent Bank Cross-Border Correspondent 88

Neopay

FEBRUARY 21, 2025

In collaboration with EU and global law enforcement agencies, the FCA has now imposed fines exceeding 30 million related to this type of trading. Our services include: Compliance audits and reviews : Ensuring your systems and controls are effective and aligned with regulatory expectations. What happened?

Financial Crimes 52

Financial Crimes Due Diligence Crime Compliance 52

Fintech Review

MAY 12, 2025

Traditional compliance models rely heavily on manual checks, periodic audits, and retrospective reviews. More Accurate Risk Management Photo by Francesco Ungaro on Pexels.com Fintech companies operate in dynamic environments. Risk profiles can shift rapidly based on customer behaviour, market conditions, or geopolitical developments.

Compliance 52

Compliance AI FinTech Money Laundering 52

The Payments Association

APRIL 14, 2025

This includes undertaking robust fraud risk assessments, embedding tailored internal controls, and delivering ongoing staff training. Next steps/action required: Conduct a full accessibility audit of all customer-facing digital platforms, payment terminals, and service interfaces to identify gaps against EAA standards.

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88