Fintech News

MARCH 3, 2024

FOMO Group, a Singapore-based financial holding company, announced that it has appointed Cindy Ho as its new Group Head of Compliance. FOMO Group has consistently demonstrated its commitment to the highest standards of compliance. She has previously served as the Chief Control Officer at Bank J. Before her tenure at Bank J.

Compliance 107

Compliance AML Money Laundering Regulatory Compliance 107

PYMNTS

SEPTEMBER 21, 2020

billion transactions for potential suspicious activity and screened more than 157 million transactions for compliance with applicable sanctions requirements. And in PYMNTS’ own coverage, the twin external forces of regulatory scrutiny and market pressures are pushing FIs to retool and strengthen their anti-money laundering (AML) efforts.

Fincen 139

Fincen AML Suspicious Activity Report (SAR) Financial Crimes 139

The Payments Association

MARCH 12, 2024

Payment compliance is expensive, but the cost of non-compliance can be worse. No one-size-fits-all solution exists to meet the varying risk profiles of all firms but organisations can access cloud solutions to improve their compliance and adapt to the ever-changing AML landscape. Read more

Compliance 88

Compliance AML Payments Risk 88

Fintech News

JUNE 19, 2024

Sumsub, a global verification platform, has joined forces with financial software provider Finastra to enhance compliance processes for financial institutions worldwide. This integration is designed to help financial institutions maintain compliance, protect their reputations, and reduce operational inefficiencies.

Compliance 109

Compliance Due Diligence Fraud Prevention Money Laundering 109

Fintech Finance

OCTOBER 11, 2024

Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance programs. AML program, broadly aligned to its existing remediation program, which is progressing steadily under the direction of its new U.S. AML leadership team. Formal oversight of the AML remediation through a Monitorship. balance sheet.

AML 98

AML BSA Money Laundering Financial Crimes 98

The Payments Association

OCTOBER 17, 2024

For the previous two years, fscom has released a fincrime compliance report to provide insight into our AML/CTF audit service and, more specifically, the compliance challenges regulated and supervised financial services firms face.

Compliance 88

Compliance AML Audit Regulations 88

Bank Automation

OCTOBER 17, 2024

10, charging that TD failed to comply with […] The post TD invests in leadership, data to improve AML compliance appeared first on Bank Automation News. billion and the U.S. Department of Justice levied $1.8 billion in fines on Oct.

AML 64

AML Compliance Money Laundering Financial Crimes 64

Stax

DECEMBER 4, 2023

The US, therefore, requires financial institutions as well as financial services firms to have anti-money laundering (or AML) compliance programs in place. In this article, we’ll discuss everything you need to know about ensuring AML compliance as a payment facilitator (or PayFac). Let’s get started.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

Finextra

DECEMBER 3, 2024

a leading provider of enterprise data, compliance, and integration solutions, has launched FinScan Marketplace, a groundbreaking platform designed to serve as a one-stop shop for anti-money laundering (AML) compliance. Innovative Systems, Inc.,

AML 52

AML Compliance Innovation Money Laundering 52

Finovate

MARCH 28, 2024

Fraud and risk platform DataVisor launched its anti-money laundering (AML) solution this week. AI-powered fraud and risk platform DataVisor launched its end-to-end anti-money laundering (AML) solution this week. AI-powered fraud and risk platform DataVisor launched its end-to-end anti-money laundering (AML) solution this week.

AML 59

AML Compliance AI Money Laundering 59

Finextra

MAY 17, 2024

In a proactive move to bolster transparency and security within its operations, Samana Developers, a leading real estate company, has appointed Complyfin, a Dow Jones-affiliated solution provider which assists businesses in managing their regulatory compliance obligations, including on Anti-Money Laundering (AML) and Combating the Financing of Terrorism (..)

AML 52

AML Compliance Money Laundering Regulatory Compliance 52

The Fintech Times

JUNE 19, 2024

By leveraging the Fenergo software-as-a-solution solution, First Abu Dhabi Bank hopes to speed up client onboarding and enhance its anti-money laundering ( AML ) compliance processes. Fenergo explained it plans to help First Abu Dhabi Bank to deliver end-to-end digital client onboarding and risk assessment for sanctions, AML and KYC.

AML 59

AML Compliance Money Laundering Regulatory Compliance 59

Finextra

JULY 31, 2024

Fenergo, the leading provider of digital solutions for know your customer (KYC), transaction monitoring and client lifecycle management (CLM), today announced that Caribbean-based PROVEN Bank is deploying Fenergo’s transaction monitoring solution to streamline its anti-money laundering (AML) compliance processes.

AML 52

AML Compliance Transactions Money Laundering 52

Fintech News

AUGUST 1, 2024

This service aims to streamline business due diligence and compliance for financial institutions and SMEs, addressing counter-party risk, credit exposure, and compliance with anti-money laundering (AML) regulations. JewelPaymentech, acquired by ADVANCE.AI

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Due Diligence Money Laundering AML Verification 113

The Fintech Times

AUGUST 9, 2024

AU10TIX , the identity verification and management firm, has unveiled a new anti-money laundering (AML) solution, in a move to help businesses ensure a safer approach to risk mitigation. This allows businesses to efficiently manage their compliance requirements, saving both time and money.

AML 64

AML Risk Payment APIs and Integration Money Laundering 64

The Fintech Times

APRIL 29, 2024

In the last two decades, anti-money laundering (AML) regulatory framework, processes and mechanisms have not changed much. Alexandre Pinot , co-founder and head of innovation and strategy at Vilnius, Lithuania, headquartered AMLYZE , the AML/CFT compliance firm explains where the gaps in the current AML system are.

Money Laundering 78

Money Laundering AML SARS Financial Crimes 78

Stax

JANUARY 15, 2024

Learn how to achieve payment processing compliance when surcharging to improve your company’s financial stability and reputation. PCI DSS compliance, a global framework, mandates specific requirements and best practices for maintaining credit card data security. for transactions also requires this compliance.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

Fintech Finance

OCTOBER 30, 2024

” – Chief Compliance Officer at Ecommpay. .” – Head GRC Consultant for Europe & APAC, Finance Advisory at EPAM Systems (CH) GmbH “Incredible lineup of speakers with so many different topics of discussion; innovation, the way the future of payments looks! Really good!”

Compliance 98

Compliance AML Money Laundering Payments 98

The Fintech Times

JANUARY 17, 2024

Helping firms achieve this, Minerva , an anti-money laundering (AML) compliance technology provider, has launched a new channel programme to provide better accessibility to its services. The channel programme is ideal for organisations looking to resell, cosell, integrate, or refer Minerva’s AML solution to customers.

AML 59

AML Financial Crimes Crime Money Laundering 59

Finextra

NOVEMBER 11, 2024

Greenlite, the leading generative AI platform for banks and fintechs, today announced a partnership with Sandbar, the comprehensive activity monitoring platform for anti-money laundering (AML).

AML 52

AML AI Money Laundering Compliance 52

Fintech Finance

OCTOBER 23, 2024

Led by Intix, the survey explored readiness levels and compliance with key regulations, including ISO 20022 standards, as well as the readiness of banks as they prepare to meet the EU’s Instant Payments Regulation, which takes effect in January 2025 for receiving instant payment transactions and October 2025 for sending instant payment transactions.

Instant Payments 105

Instant Payments ISO 20022 Regulations Fraud Detection 105

Neopay

JULY 4, 2024

With the change in the anti-money laundering (AML) supervisory approach of the Financial Conduct Authority (FCA), many firms are nervous about whether they will face FCA scrutiny and what to expect if they do. He has shared his insight and experience to assist firms with the changes to the FCA’s approach to AML supervision. No problem.

AML 52

AML Due Diligence Suspicious Activity Report (SAR) Risk Assessment 52

The Fintech Times

JULY 31, 2024

. “Issues such as data privacy, cross-border transactions, and adherence to stringent anti-money laundering (AML) protocols require constant vigilance and adaptation. Collaborative efforts between industry leaders and regulators are essential to streamline compliance processes without stifling innovation.”

Compliance 64

Compliance AML Regulations Due Diligence 64

Fintech News

OCTOBER 8, 2024

The framework is designed to ensure compliance with international standards, particularly in relation to anti-money laundering (AML) and countering the financing of terrorism (CFT). MAS’ proposed regulatory amendments Once licensed, DTSPs will be subject to ongoing compliance requirements.

Service Provider 97

Service Provider Due Diligence AML Money Laundering 97

Finextra

OCTOBER 24, 2024

Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures are essential components of a ro.

Procedures 52

Procedures AML Money Laundering Compliance 52

Fintech News

SEPTEMBER 2, 2024

LDP simplifies compliance with these local regulations by ensuring data is stored and processed locally. Sumsub’s LDP infrastructure is designed to assist regulated companies in securely managing and processing personal data, offering a suite of verification, anti-fraud, and compliance tools.

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APACS Privacy Regulations Fraud Prevention 121

Neopay

MARCH 7, 2024

In a recent move, the Financial Conduct Authority (FCA) has taken a significant step in addressing the prevalent anti-money laundering (AML) shortcomings among Annex 1 firms. The FCA remains steadfast in its commitment to providing guidance and support to firms, fostering an environment of compliance and integrity.

AML 52

AML Financial Crimes Crime Risk Assessment 52

The Fintech Times

NOVEMBER 26, 2024

With over 240 million customers across the globe, global blockchain ecosystem and cryptocurrency exchange, Binance is seeking top compliance and investigation talent to ensure it can keep pace with the industry and company’s rapid maturation and growth. “We Currently, the firm employs over 1,000 compliance staff and contractors.

Compliance 64

Compliance Financial Crimes Crime Money Laundering 64

Finextra

DECEMBER 2, 2024

Ripjar, a leading provider for monitoring and investigating threats, risks and criminal activity, has today launched new research which reveals that over 60% of compliance teams anticipate widespread adoption of Generative AI (GenAI) for customer Anti-Money Laundering (AML) screening and monitoring within their organisation in the next two years.

AML 52

AML Research Money Laundering Compliance 52

PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. One recent example of a response to the proliferation was the inclusion of a long-fought anti-money laundering (AML) provision within the recently passed defense spending bill in the U.S. Complex Compliance.

AML 108

AML Money Laundering Compliance Law Enforcement 108

Fintech News

JUNE 3, 2024

The report, titled “Top Trends Shaping Anti-Money Laundering in Asia-Pacific in 2024”, delves into the key trends, technology adoption, and regulatory imperatives shaping the anti-money laundering (AML) market in APAC. Last year, Google Cloud launched a AI-driven AML product.

Money Laundering 122

Money Laundering Financial Crimes Crime APACS 122

Finextra

AUGUST 1, 2024

TransPecos Banks, an innovative Texas-based community bank, has selected Oscilar’s innovative AI-Powered AML Risk Platform to transform its compliance and risk management capabilities.

AML 52

AML Risk Regulatory Compliance Community Banks 52

The Fintech Times

MAY 30, 2024

As regulatory and law enforcement agencies across the globe are doggedly seeking to assert jurisdiction over the crypto industry, many companies have come under intense scrutiny in recent years due to many cases of compliance violations. To address this issue, the cryptocurrency industry must enhance its compliance frameworks.

Compliance 64

Compliance Security Legal Blockchain 64

Finextra

SEPTEMBER 30, 2024

Complytek, a leader in AML compliance solutions, and Advapay, a specialist in core banking systems, have partnered to offer fintech companies a complete end-to-end solution—ensuring that businesses can grow their business while remaining fully compliant with local and global regulations.

Compliance 52

Compliance AML Regulations FinTech 52

The Fintech Times

APRIL 26, 2024

PwC , the assurance, tax and advisory services provider, has published a new report revealing what factors impact effective anti-money laundering (AML) practices the most. In its report, titled EMEA AML Survey 2024: Spotlight on Effectiveness , PwC reveals that many organisations do not feel they have adequate AML operations.

AML 59

AML Regulations Financial Crimes Money Laundering 59

Neopay

AUGUST 7, 2024

As regulatory requirements have increased over recent years, the pressure between compliance and sales is causing problems for many firms. The relationship between compliance and sales is critical for the success of any financial services business.

Compliance 52

Compliance AML Procedures Risk 52

Fintech News

FEBRUARY 18, 2024

This collaboration helps dtcpay balance speed and compliance as they expand across Asia and beyond. Moving fast without compromising compliance As a Major Payment Institution licensed by Singapore’s Monetary Authority, dtcpay operates in a complex regulatory environment.

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Verification Travel Rule Multi-Currency Compliance 119