The Fintech Times

JULY 31, 2024

Julie Cunningham, founder and CEO of Portend As Julie Cunningham , founder and CEO of due diligence platform Portend , explains: “Fintech impact platforms often grapple with complex regulatory landscapes. Balancing regulatory compliance with innovation is critical to maintaining the trust of users and regulators alike.”

Compliance 62

Compliance AML Regulations Due Diligence 62

The Payments Association

OCTOBER 11, 2024

The reforms aim to address weaknesses in safeguarding practices, reduce consumer fund risks, and enhance regulatory compliance, particularly in preventing fund shortfalls. However, there are numerous issues due to poor compliance. What’s next?

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

The Fintech Times

FEBRUARY 12, 2024

The actions taken by the FSRA address failures (to the extent applicable in each case) to: follow due diligence procedures as required by the Regulations; keep records of the performance of due diligence; report required information in a complete and accurate manner; and/or submit the required annual information return.

Distributed Ledger Technology (DLT) 57

Distributed Ledger Technology (DLT) Due Diligence Innovation Procedures 57

Neopay

APRIL 8, 2024

Extended Due Diligence : More time for conducting due diligence checks on suspected fraudulent transactions leads to a stronger evidence base for rejection. Additionally, the Financial Conduct Authority (FCA) plans to impose reporting requirements on affected firms, enhancing monitoring effectiveness.

Service Provider 52

Service Provider Due Diligence Fraud Prevention Payments 52

PYMNTS

JANUARY 30, 2019

So the idea that the money laundering directive in Europe would mandate beneficial ownership as a part of enhanced customer due diligence “is, in some ways, the logical next step,” Gaddy said. Forex companies, in particular, move money as they change it from different currency types.

Due Diligence 74

Due Diligence Verification Money Laundering FinTech 74

Finovate

SEPTEMBER 18, 2024

This requirement aims to prevent disruptions to operations, as what we saw in the Synapse bankruptcy case earlier this year. Heightened money laundering The document also emphasizes that banks must exercise strengthened internal controls and anti-money laundering (AML) compliance requirements.

Rules 52

Rules FDIC Non-Bank Money Laundering 52

Fintech News

JULY 17, 2024

The HKMA concluded that the bank failed to continuously monitor business relationships, conduct enhanced due diligence in high-risk situations for a period, and maintain proper records for some customers. Monero transactions have risen steadily, with a notable spike in March 2024 due to a spam event called Black Marble.

Money Laundering 101

Money Laundering Law Enforcement AML Non-Bank 101