Innovative Payments Association

AUGUST 29, 2024

By understanding these risks, businesses can develop appropriate controls to mitigate them. These should outline the company's compliance obligations, reporting requirements, and internal controls.

Cannabis Banking

Stax

JANUARY 31, 2024

While you can’t avoid the rate hikes, there are strategies and resources available to help merchants mitigate the impact. Ultimately, for merchants looking to mitigate the impact of interchange rate hikes, raising prices across the board is one of the easiest methods. Learn More What exactly are interchange rates?

Credit Cards

Fintech Review

JUNE 12, 2024

IoT devices, such as smart home sensors and connected cars, provide real-time data that insurers can use for risk assessment and mitigation. This includes ensuring data privacy and security, adhering to underwriting guidelines, and meeting reporting requirements.

Risk Assessment

Fintech News

JULY 17, 2024

This decrease suggests that the anti-money laundering (AML) programmes of centralised exchanges are becoming more effective at detecting and mitigating laundering activity. Transfers Just Under Reporting Thresholds The report highlights noticeable surges in transfers just below the US$1,000, US$3,000, and US$10,000 thresholds.

Money Laundering

FloQast

OCTOBER 27, 2023

Typically, compliance management will also include Identifying appropriate controls, Managing relationships with various regulators, Coordinating or responding to regulatory concerns and inquiries, and Mitigating regulatory breaches Why is Compliance Management Important? Here’s the thing.

Compliance

The Fintech Times

JULY 31, 2024

But I’m not so sure that these organisations are fully aware of the IRS regulations that have already begun to come into effect about additional reporting requirements for collecting over only $600 on these apps. This proactive approach helps mitigate risks, build consumer and stakeholder trust, and enhance market position.”

Compliance

Neopay

APRIL 8, 2024

Additionally, the Financial Conduct Authority (FCA) plans to impose reporting requirements on affected firms, enhancing monitoring effectiveness. Our collaborative approach aims to enhance your fraud prevention measures, mitigate potential liabilities, and ultimately fortify your position in the fight against APP fraud.

Service Provider

The Payments Association

OCTOBER 11, 2024

He adds: “These could result in increased supervisory and enforcement action from the FCA, as it will have a lot more data and will likely aim to use this to identify and take action against firms that consistently fail to meet its requirements. You need to be you need to be cautious of that.

Due Diligence

Nanonets

SEPTEMBER 21, 2023

Additionally, educating employees about fraud prevention and creating a culture of ethics and compliance can further mitigate the risk of fraudulent activities. Businesses must stay updated with the latest regulations and ensure adherence to reporting requirements, tax laws, and industry-specific guidelines.

Accounts

Nanonets

FEBRUARY 15, 2024

Regulatory compliance becomes a challenge, as the manual handling of invoices hinders meeting accuracy and reporting requirements. The system learns from experience, adapting to new invoice formats and evolving business requirements, mitigating the limitations posed by the rigidity of traditional methods.

AI

Global Fintech & Digital Assets

NOVEMBER 2, 2023

The NPRM would impose enhanced reporting and recordkeeping requirements for any financial transactions involving international mixers, intended to mitigate the risks of money laundering and terrorist financing. However, the NPRM states that “no CVC mixers are currently registered with FinCEN.”

Fincen

Nanonets

APRIL 2, 2024

This segregation of duties helps mitigate the risk of errors or fraudulent activities going undetected. Compliance with Regulations: In today's regulatory environment, adherence to financial regulations and reporting requirements is non-negotiable.

Reconciliation

Nanonets

MAY 7, 2024

By following these step-by-step guidelines, businesses can effectively perform expense reconciliation, maintain accurate financial records, and mitigate the risk of errors, discrepancies, and fraud. Compliance with regulatory standards and reporting requirements adds another layer of complexity to the expense reconciliation process.

Reconciliation

Fintech Labs Insights

JANUARY 4, 2017

FraudGuardian was singled out by Nigeria’s Central Bank (CBN) as an effective way for FIs to meet recently-issued anti-fraud reporting requirements, a point underscored by Keystone Bank CIO, Femi Aderibigbe. ” NetGuardians announced a deployment of FraudGuardian with the National Bank of Malawi last November.

Central Bank

FloQast

DECEMBER 13, 2023

A risk assessment typically involves: Identifying risks Assessing the likelihood and impact of the risks Prioritizing the risks Developing risk mitigation strategies 3. Control Activities Control activities are designed to prevent or detect errors and fraud in financial reporting.

Compliance

Finovate

MARCH 31, 2025

Instead of relying on outdated, self-reported assessments, or the need to use multiple tools to monitor single domains, we aggregate and analyze data from hundreds of thousands of open sources, giving our customers a live, always-on view of their third-party supplier and critical ecosystem.

Risk

Neopay

APRIL 14, 2025

This includes stricter record-keeping, more robust reporting requirements, and a requirement for an independent safeguarding audit. The end-state rules bring about a significant change by replacing the existing safeguarding requirements with a statutory trust model, similar to the FCA’s Client Assets Sourcebook (CASS).

Due Diligence

FloQast

DECEMBER 18, 2024

Maintaining a high standard of reporting requires accounting teams to optimize their close process, eliminating inefficiencies and delays wherever possible, adapting to changes in the regulatory landscape, and seizing opportunities created by advances in accounting technology. Automate wherever possible.

Close Processes

EBizCharge

NOVEMBER 15, 2024

Two primary methods for calculating bad debt expenses that align with specific accounting principles and financial reporting requirements include direct write-off and allowance methods. This proactive approach helps companies anticipate and mitigate risks, ensuring reported assets are closer to realizable values.

Accounts

The Payments Association

APRIL 14, 2025

Understanding whats coming allows payments firms to mitigate risk, meet compliance obligations, and capitalise on strategic opportunities in a shifting regulatory environment. Next steps/action required: Engage with the PSR’s ongoing consultations to provide feedback and stay informed about potential regulatory changes.

Regulations