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Top regulatory priorities for the payments sector

The Payments Association

Staff training : Training staff on the importance of safeguarding and the new regulatory expectations is crucial. Employees should be well-versed in the safeguarding procedures and understand their role in protecting customer funds. Regulatory compliance : Staying compliant with open banking regulations is crucial.

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Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures

The Payments Association

It highlights new corporate responsibilities, significant penalties for non-compliance, and the businesses need to implement strong fraud prevention measures to protect their financial and reputational standing. Compliance requires proactive fraud risk assessment, the implementation of preventive procedures, and a culture of accountability.

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Securing Your Wealth: How Cybersecurity Affects Investment Decisions

VISTA InfoSec

For instance, you can look at the company’s history of data breaches and their responses, the robustness of the cybersecurity infrastructure, and the presence of comprehensive security policies and procedures. Learn more here about top investments and explore their cybersecurity measures.

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How Internal and External Monitoring Drive Regulatory Compliance: An Expert Interview

Neopay

In an exclusive interview with Neopay’s Consultancy Manager, Margita Layne, we delve into the pivotal role of internal and external monitoring in ensuring regulatory compliance within the financial services sector. Policies and procedures form a key part of effective governance within any firm.

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Another Revolut Fine – This Time from the Central Bank of Lithuania

Neopay

A Revolut representative said: Revolut Bank UAB is committed to the highest standards of regulatory compliance and cooperated with the Bank of Lithuania in taking immediate action to address the procedural deficiencies.

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RT2: A strategic transformation for UK payment providers

The Payments Association

It remains to be seen if proportionate regulatory support and shared infrastructure initiatives will emerge to ensure the full benefits reach across the entire payments ecosystem. Where the previous RTGS operated as a single system requiring complex restart procedures for recovery, RT2 introduces significant architectural improvements.

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CeFPro: Are Financial Institutions Prepared for Supplier Risks? New Survey Uncovers Critical Gaps

Fintech Finance

have established in-depth risk management procedures, such as third-party escrow agreements. Additionally, as organisations prepare for the Bank of England’s SS221 regulation , which takes effect in March 2025, many are facing the challenge of aligning with two significant regulatory frameworks simultaneously. While 70.1%

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