The Fintech Times

MARCH 17, 2025

While IT teams are normally tasked with protecting organisations, sales, marketing, and communications employees must also ensure they are doing their own due diligence in their roles to ensure fraudsters can’t slip through the gaps. Finding the right people and technology Everyone has a part to play in preventing fraud.

AI 59

AI Fraud Prevention Transactions Due Diligence 59

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. October 2024: TD Bank$3 BillionAML TD Bank was fined $3 billion, including a $1.3

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

PYMNTS

JULY 24, 2020

So it’s not exactly surprising that supply chain risk mitigation efforts can fall by the wayside. A traditionally manual process involving PDF questionnaires, supplier due diligence is rarely at the top of the list when organizations are considering where to place their resources to invest in new, automated technology.

Risk 70

Risk Due Diligence Risk Mitigation Mitigation 70

Neopay

JANUARY 22, 2025

Generate realistic fake documentation to bypass due diligence processes. By investing in training, implementing robust security measures, and leveraging AI for defence, organisations can mitigate the risks posed by GenAI fraud. Fraudsters can use GenAI to: Quickly learn about specific targets and create personalised scams.

AI 59

AI Deepfake Phishing Audit 59

PYMNTS

OCTOBER 22, 2018

With financial crime on the rise, CGI HotScan360 aims to deliver integrated, intelligent and real-time anti-money laundering (AML), customer due diligence and fraud detection capabilities. CGI has announced the launch of CGI HotScan360, an enhanced version of its industry leading HotScan solution.

Risk Mitigation 43

Risk Mitigation Mitigation Compliance Risk 43

PYMNTS

JANUARY 24, 2019

With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes. ” Organizations must do more with less, and they must do it quickly, he continued.

Compliance 76

Compliance Due Diligence Risk Mitigation Risk 76

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

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 52

Boot Camp Due Diligence Third Party Vendors Compliance 52

PYMNTS

SEPTEMBER 22, 2016

“They don’t understand why you’re asking for the all the same due diligence and going through the 120-day process of onboarding when you’ve already been onboarded in those jurisdictions.” You want to prioritize the $100 million transaction coming through to clear a trade, while still mitigating risk.”

Regulations 75

Regulations Due Diligence Faster Payments Mitigation 75

The Paypers

AUGUST 10, 2021

Intelligence platform DueDil has announced a new collaboration with nCino , a pioneer in cloud banking and digital transformation solutions for the global financial services industry.

Due Diligence 28

Due Diligence Risk Mitigation Mitigation Checks 28

Fintech News

JUNE 5, 2024

The benefits of adopting a life cycle model are manifold, including mitigating risks through early problem identification, enhanced predictability in activities, and a unified approach in the planning and renewal phases. What makes the Strategy-Risk model a robust tool is its iterative sequential approach.

FinTech 109

FinTech Mitigation Risk On-Demand 109

Stax

JANUARY 23, 2025

The primary purpose of merchant account underwriting is to mitigate risks for payment processors and credit card networks. Speed vs. accuracy: Streamlining processes without compromising due diligence. What is the Purpose of Merchant Underwriting?

Underwriting 68

Underwriting PCI DSS Money Laundering Processors 68

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 88

Risk Management Risk Money Laundering Mitigation 88

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 88

Risk Management Risk Regulatory Compliance Due Diligence 88

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 88

Due Diligence Audit Reconciliation Compliance 88

Neopay

OCTOBER 10, 2024

These controls should be applied during both the onboarding of customers and through continuous transaction monitoring to mitigate fraud risks. 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.

Due Diligence 52

Due Diligence Fraud Prevention Financial Crimes Compliance 52

The Fintech Times

AUGUST 13, 2024

More recently, the Bank of England ’s Prudential Regulation Authority (PRA) issued a supervisory statement outlining due diligence for concentration risk on a single supplier, business continuity, and exit strategies.

Compliance 64

Compliance Risk Database Due Diligence 64

PYMNTS

SEPTEMBER 29, 2020

16 launch of KYX, with the company noting that the new platform will help companies “easily verify user identities for onboarding, safeguard existing accounts and mitigate financial crime risk.”. The announcement comes on the heels of Jumio’s Sept. The financial terms of Jumio ’s acquisition of Beam’s AML platform were not disclosed.

Financial Crimes 61

Financial Crimes AML Crime Money Laundering 61

Finovate

FEBRUARY 15, 2024

Features Offers precision-tailored LLM specializing in financial data Delivers transparent data sourcing with detailed audit trails Provides advanced data security measures, mitigating breaches and compliance violations Who’s it for?

Due Diligence 59

Due Diligence Risk Assessment CRM AI 59

PYMNTS

MAY 12, 2020

Due Diligence Shortcomings. But the unprecedented nature of the PPP program meant less time for Know Your Customer (KYC) and other due diligence checks that are so important for financiers. “The idea was, presumably, that they didn’t have time for their normal due diligence,” he said.

Due Diligence 61

Due Diligence Small Business Payroll Account Takeovers 61

VISTA InfoSec

NOVEMBER 4, 2024

Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions. Strengthen third-party risk management As third-party ICT providers play a crucial role in DORA compliance, establish a robust due diligence and assessment program.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions. Strengthen third-party risk management As third-party ICT providers play a crucial role in DORA compliance, establish a robust due diligence and assessment program.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions. Strengthen third-party risk management As third-party ICT providers play a crucial role in DORA compliance, establish a robust due diligence and assessment program.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions. Strengthen third-party risk management As third-party ICT providers play a crucial role in DORA compliance, establish a robust due diligence and assessment program.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

Fintech News

FEBRUARY 21, 2024

Moreover, the proposed regulatory oversight on Capital Markets Service License CMSL holders conducting unregulated business activities addresses potential contagion risks, illustrating MAS’s proactive stance in mitigating systemic risks within the financial ecosystem.

Financial Crimes 113

Financial Crimes Crime Authorization Consulting 113

PYMNTS

JUNE 17, 2020

A Commerzbank spokesman could not immediately be reached for comment, but Britain’s Guardian newspaper quoted an unnamed bank spokeswoman as saying: “Commerzbank has cooperated fully with the Financial Conduct Authority to mitigate any potential compliance risks promptly and appropriately.

AML 52

AML Due Diligence Money Laundering Authorization 52

The Fintech Times

JANUARY 13, 2024

Fenergo has released their annual financial fines analysis, showcasing that penalties for failing to comply with anti-money laundering (AML), KYC, environmental, social, and governance (ESG), sanctions and customer due diligence (CDD) regulations totalled $6.6billion in 2023, up considerably from $4.2billion in 2022 and $5.4billion in 2021.

Due Diligence 59

Due Diligence Financial Crimes Compliance AML 59

PYMNTS

NOVEMBER 27, 2020

Traditionally, said Tomich, B2B wholesalers and distributors would have to work through a long list of processes in order to extend trade credit to their customers while mitigating the risk of non-payment.

B2B 104

B2B Point-of-Sale (POS) B2C Due Diligence 104

The Fintech Times

JUNE 13, 2024

Don Valentine , commercial director at Absoft , the business building solutions provider, advocates for a different approach – one that mitigates risk, accelerates migration, and ensures rapid access to high-quality transaction level data.

Due Diligence 59

Due Diligence Compromise Process Risk 59

The Fintech Times

AUGUST 9, 2024

AU10TIX , the identity verification and management firm, has unveiled a new anti-money laundering (AML) solution, in a move to help businesses ensure a safer approach to risk mitigation. It also boasts a user-friendly dashboard that offers an intuitive interface, enabling customers to make informed decisions quickly and confidently.

AML 64

AML Risk Payment APIs and Integration Money Laundering 64

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 59

Risk Due Diligence Financial Crimes Money Laundering 59

Neopay

JANUARY 25, 2024

The new Guidelines highlight ML/TF risk factors and mitigating measures that CASPs need to consider, representing an important step forward in the EU’s fight against financial crime. Therefore, it is important that CASPs know about these risks and put in place measures that effectively mitigate them.

Service Provider 52

Service Provider Risk Due Diligence Money Laundering 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 Due Diligence Crime Compliance 59

The Fintech Times

JUNE 20, 2024

The collaboration streamlines customer onboarding processes for banks, ensuring efficiency, while Sumsub’s solutions mitigate potential fraud expenses that might hinder their financial performance. “We are pleased to partner with Sumsub, following a rigorous due diligence process.

Compliance 59

Compliance Process APACS Money Laundering 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. Firms are encouraged to provide formal feedback to HM Treasury by 12 April 2024, to influence the final instrument and policy intent.

Service Provider 52

Service Provider Due Diligence Fraud Prevention Payments 52

Nanonets

APRIL 7, 2023

The demise of SVB serves as a stark reminder of the importance of due diligence and risk management when it comes to securing the financial position of startups. To mitigate these risks, many companies resorted to opening multiple bank accounts and distributing their funds across them.

Treasury Management 98

Treasury Management Treasury Due Diligence Wire Transfer 98

The Payments Association

OCTOBER 14, 2024

By sharing costs, the regulations aim to encourage receiving firms to strengthen their transaction monitoring systems and customer due diligence processes to detect potential fraud before funds are transferred out of reach. PSPs should have systems that can identify potential indicators of fraud and flag them for further investigation.

Caps 88

Caps Fraud Prevention Fraud Detection Scams 88