The Fintech Times

JANUARY 13, 2024

Fenergo has released their annual financial fines analysis, showcasing that penalties for failing to comply with anti-money laundering (AML), KYC, environmental, social, and governance (ESG), sanctions and customer due diligence (CDD) regulations totalled $6.6billion in 2023, up considerably from $4.2billion in 2022 and $5.4billion in 2021.

Financial Crimes 58

Financial Crimes Due Diligence Compliance AML 58

Seon

SEPTEMBER 14, 2023

Taking a bird’s eye view across the many relevant data points gives you the means to stop things like money laundering and ID theft before they happen. The user’s source of funds cannot be verified: Source of funds checks are key in ensuring that financial services do not help criminals launder money.

Risk 52

Risk Money Laundering Suspicious Activity Report (SAR) AML 52

FICO

DECEMBER 23, 2020

It has also opened new doors for criminals, who have rushed to exploit the uncertainty in a pandemic world and devised new money laundering and terrorist financing schemes by taking advantage of loopholes in the regulations, new ways of working aided by advances in technology, and electronic payment innovations.

Financial Crimes 52

Financial Crimes Crime Ransomware AI 52

FICO

MARCH 6, 2020

Concerning AFC, we are reputed for being a world leader in the fight against fraud and money laundering, developing and implementing standardized and individual solutions against financial and white-collar crime and for risk management and monitoring, analysis, and reporting. By investing in AML, you can actually gain competitive edge.

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

PYMNTS

FEBRUARY 8, 2018

If it’s not holding money or providing a payment network, the program manager does it: AML (anti-money laundering) compliance, KYC (Know Your Customer), fraud mitigation, marketing, privacy, document review, OFAC compliance, reporting and more. Again: It isn’t easy.

Payment APIs and Integration 67

Payment APIs and Integration OFAC Money Laundering Processors 67

PYMNTS

DECEMBER 8, 2017

Israch was surprised to learn that nearly one-third of companies (32 percent) are still not screening payees for anti-money laundering, drug trafficking, terrorism, the Office of Foreign Assets Control (OFAC) and other red flags. Israch has seen organizations have their banks shut off due to an OFAC hit.

Cross-Border 40

Cross-Border OFAC Wire Transfer Payee 40

Exact Payments

AUGUST 23, 2023

Reduce compliance risk Conducting financial transactions such as accepting B2B payments requires compliance with a dizzying array of standards, including the Payment Card Industry Data Security Standard (PCI-DSS), Anti-Money Laundering (AML), Know Your Customer, Know Your Business, Office of Foreign Assets Control (OFAC) regulations, Mastercard Alert (..)

Embedded Payments 52

Embedded Payments B2B Accounts ISVS 52

PYMNTS

AUGUST 14, 2019

Blanco took to the stage at the 12th Annual Las Vegas Anti-Money Laundering Conference yesterday (August 13). More broadly, however, Blanco’s theme was the interconnectedness of the financial system – and how diligence and transparency is the key to combating money laundering and other financial crimes in the U.S.

Fincen 65

Fincen Financial Crimes Crime Suspicious Activity Report (SAR) 65

Exact Payments

SEPTEMBER 25, 2023

It consists of: Compliance with Financial Regulations In addition to complying with PCI DSS, you’ll need to ensure that your systems, technology, and underwriting guidelines comply with anti-money laundering (AML) laws and the Office of Foreign Assets Control’s (OFAC) regulations.

PCI DSS 52

PCI DSS OFAC Facilitators Payment Gateways 52

PYMNTS

JANUARY 1, 2021

Among the changes, according to the government, are that BitGo hired a chief compliance officer and "screens all accounts, including 'hot wallet' accounts, against (the Office of Foreign Asset Control's) Specially Designated Nationals and Blocked Persons List, including blocked cryptocurrency wallet addresses identified by OFAC.".

Bitcoin 80

Bitcoin Cryptocurrency OFAC Treasury 80

PYMNTS

FEBRUARY 28, 2018

That includes anti-money laundering (AML) compliance, know your customer (KYC), fraud mitigation, marketing, privacy, document review, Office of Foreign Assets Control (OFAC) compliance, reporting and more. Being a program manager means handling everything other than card issuing, authorization and transaction processing.

Automation 40

Automation Payment APIs and Integration OFAC Interoperability 40