Risk management is a crucial pillar of successful trading, especially for newcomers navigating the often volatile financial markets. At its core, risk management involves identifying, assessing, and prioritizing risks to minimize potential losses. New traders should start by determining their risk tolerance - an understanding of how much they can afford to lose without jeopardizing their financial stability. Keeping a crypto trading diary can also help in tracking decisions and outcomes, which is essential for improving one's approach to risk management.

Expert financial consulting may be needed by individuals and business companies. For businesses, it is an opportunity to receive professional assistance on financial issues without the need to keep the relevant specialists on staff.

In the dynamic and rapidly evolving fintech industry, regulatory compliance and risk management are crucial for maintaining trust and ensuring sustainability. One critical component of this regulatory framework is the Know Your Business (KYB) process. KYB involves verifying the legitimacy and credentials of business clients and partners, ensuring they are who they claim to be, and assessing their potential risks. In the fintech world, KYB is essential for mitigating fraud, ensuring compliance with regulations, and fostering a trustworthy ecosystem.

There is no shortage of news headlines about companies falling victim to cyber breaches and the astounding costs associated with them. According to the IBM Cost of a Data Breach Report 2023, the global average cost of a data breach in 2023 was $4.45 million, a 15% increase since 2020. For the financial services industry, the cost is even higher at $5.9 million per breach; that is 28% above the global average.