VISTA InfoSec

NOVEMBER 4, 2024

Conduct a DORA gap analysis Conducting a DORA gap analysis is essential for evaluating the effectiveness of your current ICT risk management and operational measures in relation to the requirements outlined in Article 6 of DORA. This roadmap should outline necessary remediation actions, timelines, and responsible parties.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

Global Fintech & Digital Assets

JANUARY 8, 2024

By Simon Hawkins and Adrian Fong On 27 December 2023, the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) released a consultation paper on their legislative proposal for a regulatory regime governing stablecoin issuers in Hong Kong (Consultation Paper).

Stablecoins 59

Stablecoins Consulting Issuers Non-Bank 59

The Payments Association

OCTOBER 11, 2024

The Financial Conduct Authority (FCA) is consulting on new rules and guidance to strengthen the safeguarding of consumer funds in the payments and e-money sectors. Conducting thorough due diligence on these third parties is essential to ensure they meet the necessary standards of security and reliability.

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

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. Engaging with AML experts and consultants AML is an ever-evolving field.

Money Laundering 88

Money Laundering Compliance AML BSA 88

Neopay

DECEMBER 6, 2023

These reviews mainly focused on areas related to financial crime, controls, risk management, and business conduct, prompting firms to proactively evaluate their practices in these domains. Controls : The scrutiny of internal controls has been heightened to ensure they are robust and capable of effectively managing risks.

Audit 59

Audit Regulatory Compliance Financial Crimes Compliance 59

The Fintech Times

SEPTEMBER 19, 2024

However, risk orchestration is a process promising to help fintechs and financial institutions combine their customer onboarding, authentication and risk management processes into one place. “This is done through the integration of risk management, adaptive risk mitigation, process automation, and real-time analysis.

Risk 59

Risk Financial Crimes AML Risk Management 59

The Payments Association

OCTOBER 14, 2024

This decision follows consultations with payment service providers (PSPs) and pressure from The Payments Association after concerns that the higher cap would impose heavy financial burdens on smaller firms and start-ups. ‘To prevent fraud, you need strong controls, systems, and human intervention before it happens,’ she explains.

Caps 88

Caps Fraud Prevention Fraud Detection Scams 88

Global Fintech & Digital Assets

MARCH 5, 2024

The guidance continues the momentum of digital asset regulation in Hong Kong, following a raft of other rules and consultations recently published by Hong Kong regulators. All of this recent guidance aims to deliver more certainty for banks and securities firms seeking to capitalise on developments in digital assets and tokenisation.

Authorization 59

Authorization Product Due Diligence Procedures 59

Fintech News

JANUARY 24, 2024

In May 2023, the MAS released a Consultation Paper on amendments to the Payment Services Regulations 2019, introducing new measures for Digital Payment Token (DPT) services, including a requirement for customer asset safekeeping under statutory trust. The company provides crypto assets, as well as custody and clearing infrastructure services.

Service Provider 98

Service Provider Cryptocurrency Payments Institute Blockchain 98

Neopay

MARCH 14, 2024

In February, the FCA confirmed that it has significantly increased its supervisory activity with payments firms, with a focus on prudential risk management, wind down planning and safeguarding. It will be consulting this year on proposals to close gaps in protection and reduce risks of harm if firms fail.

Audit 59

Audit Risk Assessment Reconciliation Due Diligence 59

Global Fintech & Digital Assets

FEBRUARY 13, 2024

By Simon Hawkins and Adrian Fong On 8 February 2024, the Financial Services and the Treasury Bureau (FSTB) released a consultation paper on its legislative proposal to introduce a regulatory regime governing over-the-counter (OTC) trading of virtual assets (VA) in Hong Kong (Consultation Paper). Certain regulated entities exempted.

Regulations 59

Regulations Money Laundering Consulting Stablecoins 59

Neopay

JUNE 27, 2024

If you are partnering with a consultancy firm, make sure they provide workshops and training to help you ensure that you have a good understanding of the regulations that apply and, more importantly, how they apply to your specific business model and services.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

FICO

MARCH 6, 2020

FICO brings AI and advanced analytics to risk management, fraud detection, collections and much more. We serve corporates, insurance companies, and banks – be it a retail, private, wealth management, automotive or telecom bank, tier 1 or tier 3 bank.

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

Nanonets

APRIL 29, 2024

Balance sheet reconciliation software offers built-in compliance checks and audit trails, ensuring adherence to regulatory requirements and mitigating the risk of non-compliance penalties. Risk Management : Accurate and timely reconciliation is critical for effective risk management.

Reconciliation 52

Reconciliation Payment APIs and Integration Audit Regulatory Compliance 52

Nanonets

FEBRUARY 13, 2024

Professional Fees : Outsourcing professional services such as legal advice, accounting, and consulting can be crucial for business success. Consider consulting with a tax professional to ensure compliance and optimization of tax benefits. This category speaks to the broader principle of risk management and its fiscal implications.

IRS 52

IRS Automation Adjustments Audit 52

The Payments Association

DECEMBER 9, 2024

Financial institutions must align with UK and EU regulations by 2025, implementing unified compliance frameworks, advanced risk management, and real-time monitoring tools. Operational resilience ensures firms can withstand disruptions like cyberattacks or supply chain failures, safeguarding critical services and consumer trust.

Rules 88

Rules Compliance Risk Management Regulations 88

Fintech Review

MAY 14, 2025

Industry partners and regulatory experts will also contribute to panel discussions on evolving standards in crypto risk management. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

Risk 52

Risk Due Diligence Cross-Border Best Practices 52