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Cross-Border Payments Could Further Enable APP Fraud, Says Payments Association Study

Fintech Finance

Authorised Push Payment (APP) fraud continues to be one of the most pressing concerns for financial services, the payment industry, law enforcement and the general public – and new developments in cross-border payments may be making it easier.

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Singapore’s Risk Assessment Highlights New Terrorism Financing Concerns

Fintech News

Security, intelligence, law enforcement, supervisory, and regulatory agencies work together to detect and respond to both existing and emerging threats. Remittances remain at high risk, with cross-border online payments identified as a potential new channel for terrorism financing activities.

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Banks, Payment Providers at High Risk for Environmental Crimes Money Laundering

Fintech News

Banks and cross-border payment service providers are especially at risk of being exploited for laundering proceeds from these crimes due to their transnational operations. Singapore’s law enforcement and supervisory agencies will remain vigilant and implement appropriate measures to mitigate these risks.

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4 Trends Shaping How We Combat Money Laundering In Asia Pacific

Fintech News

The Asia-Pacific (APAC) region faces significant challenges in combating money laundering due to its diverse economies, large volume of cross-border trade, and varying levels of regulatory enforcement across different countries — the trends of money laundering in Asia Pacific are constantly evolving.

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Binance Plays Vital Role In Cracking Crypto-Assisted Money Laundering Case in Taiwan

The Fintech Times

Binance was able to share its blockchain expertise and intelligence to help law enforcement bring the suspects to justice. However, their activities did not go unnoticed and law enforcement eventually caught up with them. We will continue to uphold this goal and deepen our cooperation with global law enforcement agencies.”

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Singapore’s Money Laundering Report Flags Elevated Risks in Digital Assets, Banking

Fintech News

The updated assessment also identifies other high-risk sectors within the financial industry, including payment institutions that provide cross-border money transfer services, such as remittance agents, and external asset managers. Consequently, Singapore is closely monitoring the sector.

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How MoneyGram improved its ability to police its own network

Payments Source

MoneyGram is investing more time and technology in helping law enforcement agencies spot the scammers moving money on its network.