Stax

AUGUST 22, 2024

Thorough due diligence, technology, and adherence to regulatory guidelines are essential in a PayFac’s risk management strategy. You need thorough due diligence, technology, and adherence to regulatory guidelines in your risk management strategy. The due diligence doesn’t stop at onboarding.

Risk Management

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. While these relationships can bring numerous benefits, they also come with inherent risks.

Boot Camp

VISTA InfoSec

NOVEMBER 4, 2024

Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions. Best practices for implementing the DORA compliance 1. This testing ensures your organization’s ability to respond to real-world cyberattacks.

Compliance

VISTA InfoSec

NOVEMBER 4, 2024

Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions. Best practices for implementing the DORA compliance 1. This testing ensures your organization’s ability to respond to real-world cyberattacks.

Compliance

VISTA InfoSec

NOVEMBER 4, 2024

Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions. Best practices for implementing the DORA compliance 1. This testing ensures your organization’s ability to respond to real-world cyberattacks.

Compliance

VISTA InfoSec

NOVEMBER 4, 2024

Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions. Best practices for implementing the DORA compliance 1. This testing ensures your organization’s ability to respond to real-world cyberattacks.

Compliance

Stax

JANUARY 8, 2024

Not only must PayFacs safeguard themselves and their clients against potential threats like fraud or cybersecurity breaches but also ensure PCI compliance , customer due diligence, and adherence to card regulations. You should also have contingency plans or initiatives in place to mitigate the impact of a risk.

Risk Management

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. He says: “I think the onus will be on doing appropriate due diligence at the start.

Due Diligence

Stax

DECEMBER 4, 2023

Best practices for ensuring AML compliance as a PayFac include continuously updating your AML policies, utilizing advanced technologies for monitoring, periodic internal reviews and audits, and engaging with AML experts and consultants. Risk assessment and categorization The first step towards mitigating risk is to assess it.

Money Laundering

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

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

Fintech News

JULY 17, 2024

The HKMA concluded that the bank failed to continuously monitor business relationships, conduct enhanced due diligence in high-risk situations for a period, and maintain proper records for some customers. This includes harmonising regulations across jurisdictions, sharing intelligence, and conducting joint operations.

Money Laundering

Trade Credit & Liquidity Management

MAY 27, 2025

By having well-thought-out processes in place, you can mitigate the risk of being victimized by fraud and help prevent your company from violating critical compliance requirements. 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.

Due Diligence

Segpay

OCTOBER 4, 2023

The risk is exceptionally high when merchants refrain from subjecting their affiliates to solid due diligence (KYC screening) during the customer acceptance process. Source: WebShield To mitigate these compliance risks, merchants and affiliates involved in affiliate marketing should implement robust compliance programs.

Security

Faster Payments Council

SEPTEMBER 23, 2023

The panel will also examine leading practices to help FIs and corporates mitigate these risks. Panelists will share takeaways including steps banks and fintechs should take to determine if a partnership is a fit, ways to mitigate fraud.

FPC

Nanonets

NOVEMBER 16, 2023

We’ll examine the different types of AP controls, accounts payable internal controls best practices, and how to manage AP controls in today’s digital landscape. There are many accounts payable internal controls best practices that every business should prioritize; let’s get into them.

Accounts

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

Core

MARCH 19, 2024

Conducting Due Diligence on Vendors and Suppliers When working with vendors and suppliers, verifying their legitimacy can reduce the risk of entering into contracts with entities that could attempt to defraud payment processes. A PCI compliance checklist is a good place to start.

Fraud Detection

Seon

APRIL 11, 2024

Both departments are crucial in identifying and mitigating fraud and reducing risk, including financial, operational, legal and reputational hazards. Such cross-functional insights facilitate a more proactive and predictive approach to identifying and mitigating financial crime, ensuring that organizations stay one step ahead.

Fraud Prevention

Nanonets

SEPTEMBER 22, 2023

Effective  vendor management  contributes to cost optimization,  risk mitigation , and quality assurance. In  clinical research ,  vendor management  involves stringent  regulatory requirements , including ICH E6 Good Clinical Practice, ISO 14155, FDA 21 CFR Part 50, and Regulation (EU) No 536/2014.

Risk Mitigation

Neopay

JUNE 27, 2024

Risk management framework: Develop a robust risk management framework that identifies, assesses and mitigates key risks associated with your business operations. Provide a clear overview of your risk appetite and mitigation strategies to demonstrate a proactive approach to risk management.

Financial Crimes

Evolve Payment

JUNE 8, 2023

In order to sustain and grow operations, it is a part of due diligence for businesses to have a steady stream of income that can support a range of business activities. However, payment collection can be a complex and laborious process that involves a range of stakeholders, including suppliers, processors, and customers.

Credit Cards

Seon

JUNE 15, 2023

Thankfully, as BEC attacks are often a product of human error, many can be avoided with due diligence and training – both of which can be enhanced with the right fraud prevention tools. This means many instances of BEC can be prevented by mitigating human error through staff training. Reported losses in 2020 exceeded $4.2

Email Compromise