Fintech News

FEBRUARY 6, 2024

Fintech’s guardian against financial crime The pressing issue in the war against financial crime is the balance between the cost of compliance and the effectiveness of these measures.

White Collar Crime 99

White Collar Crime Crime Suspicious Activity Report (SAR) Financial Crimes 99

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). Non-compliance can have major implications.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

PYMNTS

SEPTEMBER 21, 2020

Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) show that several of the largest global banks moved money on behalf of scores of individuals and enterprises involved in criminal financial activity. As Standard Chartered noted to BuzzFeed in the wake of the FinCEN files report: "In 2019 we monitored more than 1.2

Fincen 139

Fincen AML Suspicious Activity Report (SAR) Financial Crimes 139

The Fintech Times

SEPTEMBER 14, 2024

This month, The Fintech Times will look at some of the biggest issues regarding compliance and financial rules, as well as the solutions hoping to ease the compliance journey for firms and make the fintech world fairer and safer.

Compliance 69

Compliance AI Process Suspicious Activity Report (SAR) 69

Seon

SEPTEMBER 23, 2024

With the rise of online transactions and real-time payments, the risk of fraudulent activity has surged, putting financial institutions and businesses in a constant battle to protect their customers and themselves. Compliance with anti-money laundering (AML) regulations is now a legal obligation.

Suspicious Activity Report (SAR) 52

Suspicious Activity Report (SAR) Money Laundering Due Diligence AML 52

PYMNTS

AUGUST 14, 2019

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. It concerns me when I hear about some compliance budgets being cut by casinos looking to trim costs and retain gamblers,” he noted.

Fincen 65

Fincen Financial Crimes Crime Suspicious Activity Report (SAR) 65

FICO

MAY 20, 2021

In my Financial Crimes Predictions 2021: More AI & Ransomware post , I talked about how banks will move to operationalize their Anti-Money Laundering (AML) compliance programs to achieve greater efficiencies and how robotic process automation (RPA) adoption will drive the paradigm shift. Automated Suspicious Activity Report (SAR) e-filing.

Financial Crimes 52

Financial Crimes AML Crime Automation 52