Neopay

JULY 18, 2024

The European Banking Authority (EBA) issued new Guidelines on the so-called ‘travel rule’, i.e. the information that should accompany transfers of funds and certain crypto assets. This rule will help tackle the abuse of such transfers for money laundering and terrorist financing purposes.

Travel Rule 52

Travel Rule Money Laundering Rules Finance 52

Neopay

NOVEMBER 27, 2023

These ‘travel rule’ Guidelines specify the steps that Payment Service Providers (PSPs), Intermediary PSPs (IPSPs), crypto-asset service providers (CASPs) and Intermediary CASPs (ICASPs) should take to detect missing or incomplete information that accompanies a transfer of funds or crypto-assets.

Money Laundering 52

Money Laundering Consulting Finance AML 52

Fintech News

FEBRUARY 18, 2024

The platform’s capabilities—ranging from ID Verification, Liveness and Face Match, to PoA and Ongoing AML Monitoring—were instrumental in transforming dtcpay’s operational landscape. This flexibility, alongside advanced features and constant AML monitoring has been central to dtcpay’s efforts to streamline its operations.

Verification 115

Verification Travel Rule Multi-Currency Compliance 115

Neopay

JANUARY 25, 2024

This risk is increased where credit and financial institutions engage in business relationships with providers of crypto-asset services which are not authorised under Regulation (EU) 2023/1114. The amending Guidelines will apply from 30 December 2024.

Service Provider 52

Service Provider Risk Due Diligence Money Laundering 52

Fintech News

JULY 17, 2024

In 2023, there were over 1.4 This decrease suggests that the anti-money laundering (AML) programmes of centralised exchanges are becoming more effective at detecting and mitigating laundering activity. Singapore’s Payment Services Act (PSA) brings crypto businesses under regulatory oversight, imposing strict AML/CFT requirements.

Money Laundering 106

Money Laundering Law Enforcement AML Non-Bank 106

Fintech News

FEBRUARY 27, 2024

2023 marked a pivotal year in the Asia-Pacific (APAC) region’s approach to crypto regulation, influenced significantly by the preceding implosion of Sam Bankman-Fried’s FTX exchange and the collapse of of Terra, the algorithmic stablecoin created by Korean entrepreneur Do Kwon.

APACS 114

APACS Regulations Stablecoins Cryptocurrency 114

Fintech News

JANUARY 24, 2024

Further highlighting Singapore’s changing stance towards crypto businesses, several new rules have been introduced this year, which forbid DPT service providers to promote their services to the general public and require crypto service providers in the city-state that only do business overseas to be licensed regardless.

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Service Provider Cryptocurrency Payments Institute Stablecoins 98