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

The Payments Association

Businesses must proactively assess fraud risks, implement adequate procedures, leverage technology for fraud detection, and foster a culture of compliance to avoid regulatory penalties. Compliance requires proactive fraud risk assessment, the implementation of preventive procedures, and a culture of accountability.

Crime 88
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Can Crypto Firms Catch Up on Compliance Gaps as Regulations Evolve?

Fintech News

Source: Sumsub Key issues include weak risk assessments, delayed rollout of the Travel Rule, and a lack of interoperability among compliance tools. VASPs must adopt robust risk mitigation strategies and ensure their systems can communicate across borders to close these critical compliance gaps.

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Planning an Internal Audit Risk Assessment

FloQast

One of the first steps in carrying out an effective internal audit is to perform an internal audit risk assessment. This planning process is the foundation for a successful audit, helping auditors identify and prioritize significant risks and areas of concern within an organization. What Is an Internal Audit Risk Assessment?

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Navigating AML obligations in the age of virtual IBANs

The Payments Association

Since vIBANs are often treated as extensions of master accounts rather than independent relationships, firms fail to apply appropriate risk assessment frameworks. This weakens transaction monitoring, particularly in scenarios involving third-party involvement or high-risk jurisdictions.

IBAN 88
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PCI DSS Requirement 10 – Changes from v3.2.1 to v4.0 Explained

VISTA InfoSec

Testing Procedures Broad testing, looking at system settings, monitored files, etc. Testing procedures align with updated access language. Other Logs Review "periodically" based on the company's risk assessment Periodic review is still required but now explicitly mentioned in Requirement 10.4.2 Maintains the core concept.

PCI DSS 130
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June Regulatory Updates and Alerts

Neopay

Firms should also take note of the European Commission’s high-risk third countries update, which was released just before the FATF Plenary.

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PCI DSS Requirement 9 – Changes from v3.2.1 to v4.0 Explained

VISTA InfoSec

specifically to visitor access procedures. Reflects the higher risk visitors can pose. Broadened to observe and interview for CDE-wide visitor management procedures. Same principle but adapted to check procedures across the CDE. Focused testing procedures. More comprehensive access management focus. PCI DSS v4.0

PCI DSS 147