Risk assessment related to financial crimes in FinTech

Abstract

Aim of the paper is to investigate risk and financial crimes in financial technology companies, as well as consolidate agenda for future research. Methods to be used analysis of the content of related scientific literature, analysis and summary of risk assessment and management standards. The paper provides definition of FinTech, examines some grow statistics, and reviews the theoretical literature. Risk analysis is critical factor to a successful construction of a project or successful companies’ existence, as FinTech companies primary focused to provide fast (efficient) service it tends to forget precautions measure to protect their businesses and their end customer. This paper focused to evaluate literature and researches on FinTech and it facing risks and kick of with the first steps of the research for the future works. Novelty of this paper is connected to the gap where young FinTech, per se Start-ups are not fully prepared for the regulatory/cyber security challenges. Currently there is a limitation for the related data collection, as the limited sample of size is identified there is a risk that not experts to call back. Not publicly available information; Main raised question of the paper is which area of possible risk can cause higher chance of financial crimes between the FinTech companies. Methods which to be used for the research are: Analytic Hierarchy Process (AHP) and Technique for Order Preference by Similarity to Ideal Solution TOPSIS.