Emerging risk: New Payment Products and Services such as online banking.

Emerging risk: New Payment Products and Services such as online banking.

• A. New Payment Products and Services such as online banking
• B. Traditional door-to-door fundraising
• C. Cash-only donations
• D. None of the above

Answer: (A)

Emerging risk focuses on new ways money can move and new channels that money launderers might exploit. New payment products and services, especially online banking, introduce digitized, real-time transactions, third-party providers, and broader access for customers. This expands the attack surface for fraud, account takeovers, and illicit transfers, so institutions must adapt risk assessments, due diligence, and transaction monitoring to these evolving channels. Traditional methods or cash-only approaches don’t capture how rapidly digital platforms alter how payments are made and monitored, which is why online banking represents the standout example of an emerging risk.

Emerging risk focuses on new ways money can move and new channels that money launderers might exploit. New payment products and services, especially online banking, introduce digitized, real-time transactions, third-party providers, and broader access for customers. This expands the attack surface for fraud, account takeovers, and illicit transfers, so institutions must adapt risk assessments, due diligence, and transaction monitoring to these evolving channels. Traditional methods or cash-only approaches don’t capture how rapidly digital platforms alter how payments are made and monitored, which is why online banking represents the standout example of an emerging risk.