This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Singapore has released its updated Terrorism Financing National RiskAssessment (TF NRA) and National Strategy for Countering the Financing of Terrorism (CFT) to address terrorism threats. The country also collaborates with the private sector and academic institutions to enhance its understanding of these risks.
The platform risk paradox: Managing digital commerce fraud at scale 12 June 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? How digital commerce platforms manage escalating fraud risks while scaling operations. Why is it important? Consumer fraud losses reached $12.5
Unlike traditional banks and financial serviceproviders, which are often constrained by legacy systems and processes, fintechs are often more flexible – enabling them to quickly build solutions that better support underserved communities. appeared first on The Fintech Times.
As financial institutions increasingly rely on digital infrastructure to enhance operations, customer experience, and security, they also face growing challenges in mitigating the risks that come with it, such as cyber threats, system failures, and other operational vulnerabilities.
As a result, many have passed legislation to implement the Travel Rule for virtual asset serviceproviders (VASPs). Four Years In, The Compliance Gap in the Travel Rule Still Exists In 2021, the FATF updated its risk-based guidance for virtual assets and VASPs, reinforcing the Travel Rule.
While vIBANs offer innovation in payment systems, they introduce risks like money laundering due to insufficient oversight. Payment ServiceProviders must strengthen due diligence, monitoring, and collaboration with regulators to address these risks. Why is it important? What’s next?
Singapore has released an Environmental Crimes Money Laundering National RiskAssessment (NRA), highlighting the primary threats and vulnerabilities associated with it. The NRA concludes that, given the existing controls, the risk of criminals using Singapore for environmental crimes money laundering is medium-low.
-based account-to-account (A2A) payment solution provider, today announced an expanded partnership with Plaid , a data network powering the digital financial ecosystem. This will enable customers to onboard with Plaid through Dwolla’s Open Banking Services, creating a modern A2A payment offering for mid- to enterprise-sized businesses.
Singapore has released its updated Money Laundering (ML) National RiskAssessment (NRA) , highlighting increased risks in the digital payment token (DPT) services sector. The updated assessment highlights increased risks due to economic and geopolitical shifts, as well as the rise in technology-enabled transactions.
As financial institutions increasingly rely on digital infrastructure to enhance operations, customer experience, and security, they also face growing challenges in mitigating the risks that come with it, such as cyber threats, system failures, and other operational vulnerabilities.
The merchant underwriting process is a critical step that payment processors and financial institutions use to assess the risk associated with onboarding new businesses. Key steps include application review, riskassessment, credit checks, and compliance verification. Learn More What is Merchant Account Underwriting?
Artificial intelligence (AI) is also gaining traction, particularly for riskassessment and operational efficiency. In particular, cloud computing is becoming increasingly prevalent, with 60% of banks in Singapore migrating their core systems to the cloud. In contrast, the Philippines has adopted a regulatory-mandated approach.
Requirement 10 has seen some notable updates that expand logging capabilities and provide more flexibility for merchants and serviceproviders. Other Logs Review "periodically" based on the company's riskassessment Periodic review is still required but now explicitly mentioned in Requirement 10.4.2 PCI DSS v4.0
In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. PayFacs handle riskassessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks.
It is a digital security framework that works alongside the General Data Protection Regulation (GDPR) to provide strong security protection to financial entities and ICT serviceproviders from cybercrimes. This means that board members must be involved in overseeing and approving all ICT risk management strategies.
It is a digital security framework that works alongside the General Data Protection Regulation (GDPR) to provide strong security protection to financial entities and ICT serviceproviders from cybercrimes. This means that board members must be involved in overseeing and approving all ICT risk management strategies.
It is a digital security framework that works alongside the General Data Protection Regulation (GDPR) to provide strong security protection to financial entities and ICT serviceproviders from cybercrimes. This means that board members must be involved in overseeing and approving all ICT risk management strategies.
It is a digital security framework that works alongside the General Data Protection Regulation (GDPR) to provide strong security protection to financial entities and ICT serviceproviders from cybercrimes. This means that board members must be involved in overseeing and approving all ICT risk management strategies.
Technology innovations and core banking networks eliminate friction in global transactions, making financial services available to those previously excluded due to high fees or long processing times. The business case for financial inclusion Beyond its social impact, McKinsey states that financial inclusion represents a $3.7
Equifax (NYSE: EFX) and Mastercard (NYSE: MA) have joined forces to empower Latin American financial institutions, payment serviceproviders, acquiring banks, and merchants to overcome payment fraud challenges without disruption to the customer experience. of their e-commerce revenue to payment fraud. .
Wolters Kluwer and NYDIG has launched Bitcoin RiskAssessment – NYDIG Clients to provide regulatory assessments for financial institutions looking to offer their customers access to Bitcoin servicesprovided by NYDIG.
The MiCA regulation aims to foster the use of innovative technologies by setting a regulatory framework that covers crypto-assets (including stablecoins), crypto-assets issuers and crypto-asset serviceproviders to protect the rights of holders in the EU. As an EU regulation, it is directly applicable to all 27 EU member states.
This type of analysis saves time and money by speeding up transaction validation and lowering service expenses. Traders have a pattern to their activity that reveals their risk and reward mindsets. Customers entrust confidential information to financial serviceproviders such as banks, brokerage firms, and credit unions.
The chill has been taken out of the industry as investors regain confidence, new startups can launch with less risk, and established players are doubling down on new technologies to meet evolving customer demands. Where you’ll see it: FinovateEurope will host an entire stage dedicated to discussing banking regulation and risk.
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. .
Bouncer : California-based Bouncer is a card-scanning and risk detection technology platform that identifies fraudulent transactions by running automated card authentications. Stripe recently acquired a cloud-based tax servicesprovider, TaxJar. WHO ARE THE PARTIES TO THE DEAL? The company is currently valued at $95B.
This is especially true for financial services organisations, which need to balance the potential risks of dealing with PEPs, as well as protecting the right to access banking service. Given the high public profile of PEPs, there are also significant reputational risks if a customer feels mistreated.
Outsourcing responsibility: Outsourcing to a managed security serviceprovider (MSSP) is a well-established tactic, particularly for companies that need to secure resources quickly or that cannot hire and retain adequate staffing. Inadequate risk management, governance, and compliance. Strategic mistakes 1. Great exposures.
Allows "dynamic analysis" - systems adapt security based on risk factors, potentially avoiding frequent password changes. Change passwords often based on risk level. Higher risk systems need more frequent changes. Only mandatory if passwords are the sole authentication method (single-factor authentication).
Global analytics software leader FICO is partnering with dacadoo , a customer engagement company, to enhance how insurance companies assess and manage risk, and promote health/wellness.
Reflects the higher risk visitors can pose. Media Inventory Requires periodic inventories of all media Inventory specifically for electronic media with cardholder data Focus on where the highest risk data resides. To define the frequency of periodic POI device inspections based on the entity’s targeted risk analysis.
MCCs serve a range of sectors, from retail outlet services to transportation services. They categorize beauty shops, serviceproviders like furniture rental and repair, and other businesses. Fraud detection and riskassessment: MCCs assist fraud detection and riskassessment operations by flagging suspicious transactions.
While banks often avoid testing backup systems due to switching risks, gambling operators must have bulletproof failover capabilities because down time during peak betting periods would be catastrophic. Cloud also provides rapid recovery often near real time. Its a timing issue.
“By automating riskassessments and ensuring encryption and secure data management, regtech not only reduces the chances of human error but also enables continuous monitoring for data breaches, thereby safeguarding privacy in an increasingly complex digital landscape.
Headquartered in Lithuania, AMLYZE offers anti-financial crime solutions for a variety of financial servicesproviders, including fintechs, banks, and cryptocurrency firms. “We see this partnership as an excellent addition to our current partnership ecosystem in Northern Europe and beyond.”
introduces a stronger focus on flexibility and risk-based approaches, allowing businesses more options for meeting security requirements. To learn in detail about the 4 levels of PCI DSS check out PCI compliance levels for merchants & serviceproviders. In 2024, the updated version of PCI DSS 3.2.1, PCI DSS v4.0,
introduces a stronger focus on flexibility and risk-based approaches, allowing businesses more options for meeting security requirements. To learn in detail about the 4 levels of PCI DSS check out PCI compliance levels for merchants & serviceproviders. In 2024, the updated version of PCI DSS 3.2.1, PCI DSS v4.0,
Despite the fact that investing in crypto remains unregulated and high-risk, consumers appear to increasingly consider cryptoassets as part of ‘a wider investment portfolio’, leading to 26 per cent dipping into their long-term savings to purchase them. ” Has everything been accounted for?
These developments will impact merchant compliance, cost structures, customer experience, and operational risk. Merchants should assess exposure, engage with providers, and begin implementation planning ahead of key deadlines. It outlines ten regulatory changes affecting merchants in the UK and EU between 2025 and 2026.
Adjusting to MiCA The MiCA regulation aims to foster the use of innovative technologies by setting a regulatory framework that covers crypto-assets (including stablecoins ), crypto-assets issuers and crypto-asset serviceproviders to protect the rights of holders in the EU.
The policy should consider your company’s risk tolerance, revenue, and profit objectives while supporting the sales and cash forecasts. Setting a Risk-Based Policy Start by identifying your AR portfolio’s “Risk Categories.” ” First, quantify the percentage of high-margin and low-risk customers.
Automated, end-to-end identity verification, riskassessment, and compliance solutions provider Jumio has expanded its partnership with pure-play data servicesprovider NextWealth.
This event is targeted towards payment serviceproviders, large merchants with cross-border businesses, digital wallets, payment methods, super-apps, and BNPL solution providers. Moreover, AI fosters the creation of new financial products and services previously inconceivable.
Perform ePHI RiskAssessment: Potential Threats: Identify threats to ePHI assets, including natural disasters, technical issues, and security threats. Impact Analysis: Assess the potential impact on ePHI assets post threat identification, considering downtime, data loss, and financial implications. Who will communicate?
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content