PYMNTS

JANUARY 3, 2021

The Financial Action Task Force ( FATF ) is warning of new ways of money laundering via exports like onions, potatoes, soft fruits or expensive cars, a report from the Financial Times says. the new demand for some goods and services for the fighting of COVID-19 also posed increased risk of money laundering in this way.

Money Laundering 97

Money Laundering White Collar Crime Crime Risk Assessment 97

Finextra

JANUARY 26, 2024

The UK’s National Crime Agency (NCA) has issued an amber alert to prevent further money laundering in the art storage sector.

Money Laundering 96

Money Laundering Crime 96

FICO

MARCH 24, 2021

In part 1 of the series on trade-based money laundering (TBML) , we established a definition of the term, explored some recent studies and highlighted some typical techniques employed by the criminals. To learn more about how FICO helps organizations fight financial crime visit our website and connect with me on LinkedIn.

Money Laundering 98

Money Laundering SARS Financial Crimes Fincen 98

Fintech News

MARCH 31, 2024

The Monetary Authority of Singapore (MAS) has officially rolled out the COSMIC platform , a digital initiative aimed at bolstering the defense against money laundering, terrorism financing, and the proliferation of weapons of mass destruction.

Financial Crimes 105

Financial Crimes Crime Money Laundering Law Enforcement 105

The Payments Association

FEBRUARY 22, 2024

There is an increasing need for enhanced data sharing in the payments industry to combat the rising threat of financial crime, specifically money laundering and online-enabled fraud. Read more

Financial Crimes 88

Financial Crimes Crime Money Laundering Payments 88

The Fintech Times

MARCH 27, 2024

Five people, including convicted fraudster Neale Rothera , were sentenced for their involvement in a fraud and money laundering scheme which cost banks over £500,000 earlier this week. But with the money unrecoverable, how can this type of situation be avoided in the future?

Money Laundering 93

Money Laundering Financial Crimes Crime Due Diligence 93

The Paypers

FEBRUARY 26, 2024

The Financial Action Task Force (FATF) has announced that it has dropped the UAE from its grey list regarding concerns about financial crime and money laundering.

Financial Crimes 90

Financial Crimes Crime Money Laundering 90

Stax

DECEMBER 4, 2023

According to a UN report, money laundering activities of about $1.6 The US, therefore, requires financial institutions as well as financial services firms to have anti-money laundering (or AML) compliance programs in place. trillion took place in 2020, accounting for about 2.7% of global GDP. Let’s get started.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

The Fintech Times

APRIL 29, 2024

In the last two decades, anti-money laundering (AML) regulatory framework, processes and mechanisms have not changed much. As a result, fraudsters are capitalising on firms’ inadequacies to spot and deal with money laundering. Is the global anti-money laundering (AML) system broken? What’s the problem?

Money Laundering 78

Money Laundering AML SARS Financial Crimes 78

The Paypers

OCTOBER 25, 2024

Nigeria’s Economic and Financial Crimes Commission ( EFCC ) has dismissed a money-laundering case against Tigran Gambaryan, a senior executive at Binance.

Money Laundering 66

Money Laundering Financial Crimes Crime 66

Neopay

DECEMBER 2, 2024

Those of you who were in the payments space pre-COVID, might remember my industry talks about ‘Why the World Needs Money Laundering’. A history of money laundering The concept of money laundering goes back to long before money itself existed. Even the 3 stages (placement (i.e.

Money Laundering 52

Money Laundering Financial Crimes Crime Compliance 52

The Payments Association

OCTOBER 20, 2023

Richard Dunlop of fscom summarises the major points of the 2023 Financial Crime Compliance Report and highlights key issues in anti-money laundering strategies that have been identified. Read more

Financial Crimes 88

Financial Crimes Crime Compliance Money Laundering 88

Fintech News

FEBRUARY 21, 2024

The report by Chainalysis provides a deep dive into these changes, highlighting the decline in certain types of crypto crimes and the persistence, if not growth, of others, such as ransomware and darknet markets. These tools have enabled law enforcement agencies to trace the flow of funds, unmasking the networks behind criminal operations.

Crime 108

Crime Ransomware Scams Stablecoins 108

PYMNTS

NOVEMBER 30, 2020

CSI) is partnering with Featurespace to advance a new cybercrime solution to fight money laundering. Based in Spain, Featurespace offers “enterprise financial crime prevention for fraud and anti-money laundering,” per the announcement. . Computer Services, Inc.

Money Laundering 63

Money Laundering Financial Crimes AML Crime 63

The Fintech Times

MAY 18, 2024

Crypto exchange, Binance has played a massive part in solving a major crypto-assisted money laundering case in Taiwan involving nearly NT$200million (approximately US$6million). It allowed our investigation team to further unravel the threads and piece together the full picture of the crime, ultimately bringing the suspects to justice.”

Money Laundering 69

Money Laundering Law Enforcement Financial Crimes Crime 69

The Payments Association

NOVEMBER 12, 2024

Whether financial institutions should build or buy financial crime management systems. As Financial crime grows increasingly complex, payment leaders face a critical choice: build an in-house financial crime management (FCM) solution or buy an established third-party system. Why is it important? What’s next?

Financial Crimes 88

Financial Crimes Crime Fraud Prevention Compliance 88

PYMNTS

OCTOBER 7, 2020

All eCommerce sites and payment providers have one thing in common no matter their size: the constant and pervasive threat of money launderers using their businesses to process ill-gotten gains, conceal the funds’ sources and convert them into clean, taxable income that government authorities cannot track.

Money Laundering 68

Money Laundering Law Enforcement AML Payments 68

Fintech News

MAY 22, 2024

Over the past years, financial crime tech has risen to prominence, driven by increasing complexity and frequency of financial crimes, stricter regulations and compliance requirements, and technological advancements. Today, we delve into these firms’ offerings, recent strides and contributions to the field.

Financial Crimes 85

Financial Crimes Crime APACS Risk Assessment 85

Neopay

MARCH 15, 2024

HM Treasury has initiated an open consultation aimed at refining the Money Laundering Regulations (MLRs) to bolster their effectiveness while reducing burdens on legitimate customers. System coordination: Strengthening coordination among various systems involved in combating money laundering and terrorist financing.

Money Laundering 52

Money Laundering Consulting Treasury Regulations 52

Neopay

JULY 18, 2024

Money laundering is a pervasive issue, affecting economies and societies worldwide. This clandestine nature makes it challenging to quantify the exact amount laundered annually. billion in cryptocurrency was laundered in 2022, representing a 68% increase over 2021. For 2024, this translates to between $2.22

Money Laundering 52

Money Laundering AML Crime Cryptocurrency 52

Fintech News

FEBRUARY 14, 2024

Hawk AI, a Germany-based provider of artificial intelligence technology for fraud detection and anti-money laundering efforts, has announced Robin Lee as the new General Manager for its Asia-Pacific (APAC) operations. They’re an exceptional group of people, combining world-class technologists and seasoned financial crime-fighters.

APACS 112

APACS AI Financial Crimes Money Laundering 112

FICO

MARCH 6, 2020

In September 2019, Fico and Visma announced their partnership to Offer SaaS Anti Financial Crime Solutions in Western Europe. I also manage the partner channels and programs for our financial crime compliance solutions. In this excerpt from that article, Jürgen elaborates on the importance of compliance. .

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

FICO

FEBRUARY 19, 2020

For many consumers and businesses, the ability to quickly send money directly from their bank account is a win in terms of convenience, but it isn’t without risk, when it comes to fraud and other types of financial crime. How RealTime Payments Impact Financial Crime. Money Laundering and the Rise of the Money Mule.

Real Time Payments 92

Real Time Payments Financial Crimes Crime Account Takeovers 92

Finovate

DECEMBER 11, 2024

ThetaRay launched GenAI Financial Crime Detection Suite. The GenAI Financial Crime Detection Suite enables financial institutions to improve AML efforts, streamline compliance, and proactively manage risk indicators. The service allows clients to adapt the models to their specific task or use case. Vice President Yina Arenas.

Financial Crimes 59

Financial Crimes Crime Money Laundering Risk Assessment 59

The Fintech Times

MAY 12, 2024

Now, Sumsub is gearing up for a second iteration of its Advanced Transaction Monitoring Masterclass 2024 , which will help over 2,500 anti-money laundering (AML), anti-fraud, and compliance professionals in the fintech sector to boost their knowledge in combating financial crime issues facing their respective companies.

Financial Crimes 69

Financial Crimes Crime Money Laundering Deepfake 69

Fintech News

JUNE 26, 2024

Lawrence Wong Prime Minister and Finance Minister Lawrence Wong announced the strategy at the Financial Action Task Force Plenary Meeting, underscoring Singapore’s commitment to bolstering its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) efforts.

AML 108

AML Money Laundering Financial Crimes Scams 108

FICO

AUGUST 4, 2021

Now, I’m going to cover what it means for the wider financial crime space. It is well known that dealing in art can be a vehicle for money laundering and terrorist finance. And yet they are exchanging hands for huge sums, making them a great vehicle for money launderers. A single grey pixel sold for ~$1.4

NFTs 66

NFTs Money Laundering AML Fincen 66

PYMNTS

JANUARY 15, 2021

The Financial Crimes Enforcement Network (FinCEN) late Friday (Jan. According to a statement from FinCEN , Capital One admitted to failing to implement and maintain an effective anti-money laundering (AML) program. financial system.”. financial system.”.

Fincen 107

Fincen Suspicious Activity Report (SAR) Money Laundering SARS 107

PYMNTS

SEPTEMBER 21, 2020

The Financial Crimes Enforcement Network ( FinCEN ) uncovered government documents on how giant financial institutions move trillions of dollars in suspicious transactions, padding their bottom line, while terrorists, drug dealers and corrupt politicians are allowed to run free. FinCEN, a division of the U.S. told the news outlet.

Fincen 111

Fincen Suspicious Activity Report (SAR) Money Laundering SARS 111

Finextra

JANUARY 8, 2024

The G20's plan to make cross-border payments faster, cheaper, more transparent and inclusive could increase fraud and money laundering, warns a new report.

Financial Crimes 80

Financial Crimes Cross-Border Payments Faster Payments Money Laundering 80

Fraud.net

AUGUST 16, 2024

Transform financial crime management, by shifting from transactions to entities to combat money laundering and enhance compliance.

Financial Crimes 52

Financial Crimes Crime Money Laundering Compliance 52

The Fintech Times

APRIL 3, 2024

The Monetary Authority of Singapore (MAS) has introduced COSMIC, a digital platform aimed at bolstering the global financial system’s defences against money laundering (ML), terrorism financing (TF), and proliferation financing (PF).

Financial Crimes 59

Financial Crimes Crime Money Laundering Law Enforcement 59

Neopay

DECEMBER 20, 2023

Effective January 10, 2024, the Amended Money Laundering Regulations 2017 (No. Our team is ready to assist your firm in reviewing and enhancing your financial crime prevention framework, systems, and controls. For a comprehensive evaluation of your financial crime prevention measures, contact us today.

Risk Assessment 52

Risk Assessment Money Laundering Assessments Regulations 52

PYMNTS

DECEMBER 10, 2020

Financial Crimes Enforcement Network ( FinCEN ) Director Kenneth A. 10) about ways to stop financial crime, said one of the key elements is sharing information, according to a press release. Blanco , speaking on Thursday (Dec.

Fincen 61

Fincen Crime Financial Crimes Money Laundering 61

Finextra

AUGUST 5, 2024

FinextraTV, Julia Thorn, Senior Marketing Manager, Financial Crime Compliance, LexisNexis® Risk Solutions and Robert Campbell, Programme Director of United for Wildlife, The Royal Foundation of The Prince and Princess of Wales, dive deep into their recently released report on how wildlife trafficking can be combatted with the power of collaboration.

Financial Crimes 59

Financial Crimes Crime Money Laundering Mitigation 59

Neopay

DECEMBER 5, 2024

The Financial Conduct Authority (FCA) has issued important updates to its Financial Crime Guide, following a public consultation on proposed changes. Proliferation Financing (PF) In response to the 2022 changes in the Money Laundering Regulations (MLRs), the Guide now explicitly addresses the need for firms to conduct PF risk assessments.

Financial Crimes 52

Financial Crimes Crime Money Laundering Risk Assessment 52

PYMNTS

DECEMBER 8, 2020

Money laundering is a pervasive phenomenon around the world, with the estimated amount of money laundered in a given year totaling 2.7 The latest arena for money laundering is through cryptocurrency , a burgeoning market expected to be valued at $1.4 percent of the global gross domestic product (GDP).

AML 104

AML Cryptocurrency Verification Money Laundering 104