The Payments Association

JANUARY 13, 2025

The introduction of the Digital Assets Bill and the Financial Conduct Authority (FCA)s ongoing efforts to regulate cryptoassets demonstrates the regulator’s intentions to further define just how digital assets are governed and traded. In summary, firms should prioritise several key actions to prepare and build resilience in the sector.

Legal 88

Legal Stablecoins Cross-Border Due Diligence 88

M2P Fintech

APRIL 11, 2025

Due diligence was inadequate, and end-use monitoring, especially for high-value or income-generating loans, was inconsistent or missing. KYC and Purity Checks Mandatory KYC compliance and enhanced due diligence for high-value loans. Loan sanction letters should include the weight, purity, and valuation of gold accepted.

Due Diligence 52

Due Diligence Caps Audit Non-Bank 52

Neopay

APRIL 10, 2025

Regulators are increasing their focus on the effectiveness of financial crime prevention measures at companies, especially transaction monitoring, suspicious activity identification, and the governance of such systems.

Central Bank 52

Central Bank Money Laundering AML Financial Crimes 52

Fintech News

OCTOBER 6, 2024

One major focus is on proactive prevention, where the IMC advocates for tighter regulations on corporate service providers and enhanced due diligence for non-financial sectors vulnerable to exploitation by money launderers.

Money Laundering 120

Money Laundering Law Enforcement Financial Crimes Due Diligence 120

Fintech Review

APRIL 19, 2025

This includes due diligence, auditing, and shared responsibilities with financial institutions. Platforms that embrace proactive governance and regtech integrations are better positioned for long-term growth. Even if financial services are offered via partners, platforms must understand their compliance obligations.

Finance 94

Finance Embedded Finance FinTech Payment APIs and Integration 94

Neopay

MARCH 6, 2025

The Dance case highlights the importance of: robust governance: Firms must have strong oversight mechanisms to detect and prevent misconduct. enhanced due diligence: When firms operate under an AR structure, ensuring proper checks on business partners and their financial dealings is crucial.

Money Laundering 52

Money Laundering Audit Due Diligence Compliance 52

The Payments Association

JANUARY 29, 2025

Common themes Analysis of these regulatory fines highlights four persistent weaknesses that continue to challenge the industry: Inadequate governance, accountability and culture: Ineffective governance and fragmented leadership often resulted in unaddressed vulnerabilities.

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

The Fintech Times

JANUARY 22, 2024

UK businesses will need to meet new standards following the Financial Reporting Council (FRC)’ s “small but important” revisions to the UK Corporate Governance Code. The post Enhanced Transparency: FRC’s Overhaul of UK Corporate Governance Code appeared first on The Fintech Times.

Government 59

Government Governance Due Diligence Audit 59

Open Banking Excellence

NOVEMBER 7, 2023

Many people in the UK are opposed to a government-issued ID. In some sections of society there is still an innate aversion to the idea of government having a deeper sight of citizen transactions. Banks spend around 5% of their revenue on AML compliance and customer due diligence (CDD).

Due Diligence 130

Due Diligence Ubiquitous Government Governance 130

Core

FEBRUARY 6, 2024

As pillars of the public, government organizations contribute to the stability and functionality of society, ensuring citizens receive necessary support, protection, and opportunities for growth. Digital payments are now an integral piece of the government financial landscape. Here are some key insights.

Best Practices 52

Best Practices Government Governance Fraud Prevention 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

Segpay

NOVEMBER 26, 2024

Whether we are setting up a new bank account, making a purchase online, or accessing government services, confirming who we are in the virtual space is crucial to ensuring our security, the protection of our privacy, and the improvement of our user experience. Others may not have government-issued IDs or other required documents.

Verification 111

Verification Identity Theft Money Laundering Due Diligence 111

Core

MARCH 19, 2024

City and county government institutions bear the responsibility of careful management—and protection—of public funds. Still, payment fraud is a concern in every sector, and the stakes for government organizations are especially high. The solution: robust government fraud detection mechanisms for payment systems.

Fraud Detection 52

Fraud Detection Government Governance Compliance 52

PYMNTS

DECEMBER 27, 2018

We’re doing our due diligence.”. We’re getting as smart as we can about what it is, what industry is saying about it, what the future might look like, how it applies to supply chains and how other industries are using it,” Londo said. Other agencies have also looking into blockchain’s potential.

Blockchain 59

Blockchain Governance Government Due Diligence 59

Finovate

SEPTEMBER 4, 2024

Ncontracts has acquired Venminder, a third-party risk management SaaS platform, to enhance its governance, risk, and compliance services. Risk management and compliance solutions provider Ncontracts made an acquisition today to help broaden its governance, risk, and compliance capabilities.

Risk Management 59

Risk Management Risk Due Diligence Acquirers 59

The Fintech Times

MAY 30, 2024

Julie Cunningham is the founder of Portend , a compliance-as-a-service platform providing due diligence on investments into startups. We are working vehemently to fine-tune our technology to provide a seamless real-time due diligence tool which is effective, efficient and does not miss any detail.

Due Diligence 59

Due Diligence Checks AI Compliance 59

PYMNTS

SEPTEMBER 28, 2020

Some are posing as government officials and asking for personal information for stimulus checks, for example, while others are targeting cryptocurrencies.”. A Marriage Of Advanced Tech With Due Diligence. Strong consumer authentication comes in several forms, and it’s time to pick one.

Financial Crimes 81

Financial Crimes Crime Due Diligence Federal Trade Commission 81

PYMNTS

DECEMBER 28, 2018

However, he’s looking to show the government even more proposals in the new year. government’s accusations that Latvia’s ABLV perpetrated bribery and what he called “institutionalised money laundering.”. Dombrovskis said he wants to converge all of the regulatory standards throughout the EU.

Money Laundering 74

Money Laundering Rules Due Diligence Central Bank 74

PYMNTS

JANUARY 24, 2019

With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes. ” Organizations must do more with less, and they must do it quickly, he continued.

Compliance 76

Compliance Due Diligence Risk Mitigation Risk 76

PYMNTS

MAY 19, 2020

In other words, the federal government should not repeat past mistakes. This means that CEOs and executives should be required to periodically conduct due diligence to ensure that they still meet the relevant eligibility criteria.

Federal Reserve 78

Federal Reserve Due Diligence Fed Procedures 78

PYMNTS

NOVEMBER 8, 2018

In 2016, the government revealed it was committing to invest £500,000 ($656,182.50 These items include data gathering, due diligence, onboarding, commercial and contractual processes, data protection and security considerations. has been a hotbed of FinTech startups. USD) a year into financial technology companies.

FinTech 76

FinTech Due Diligence Treasury Small Business 76

PYMNTS

AUGUST 5, 2019

The most rigorous due diligence is done during the onboarding stage,” Cohen said, referring to the creation of new merchant accounts. Another big challenge is corporate registries — the source of vital due diligence information but governed by different standards and rules depending on the country involved.

Due Diligence 65

Due Diligence Money Laundering Best Practices Laws 65

Neopay

OCTOBER 10, 2024

Governance arrangements, systems, and controls The FCA expects firms to strengthen their governance frameworks by ensuring they have appropriate oversight, systems, and controls in place to detect, manage, and prevent fraud.

Due Diligence 52

Due Diligence Fraud Prevention Financial Crimes Compliance 52

Stax

JANUARY 23, 2025

Know Your Customer (KYC): This check involves verifying government-issued IDs, business licenses, and ownership structures to confirm the merchants legitimacy and authenticity. Speed vs. accuracy: Streamlining processes without compromising due diligence.

Underwriting 68

Underwriting PCI DSS Money Laundering Processors 68

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) 59

Distributed Ledger Technology (DLT) Due Diligence Innovation Procedures 59

The Payments Association

OCTOBER 11, 2024

Tighter oversight of third parties: When firms engage third parties to manage safeguarded funds, stricter due diligence and diversification will be required , reducing third-party failure risks. He says: “I think the onus will be on doing appropriate due diligence at the start.

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

PYMNTS

OCTOBER 4, 2017

4) that it launched its Global Business Verification solution aimed at providing a low-cost way to conduct due diligence on businesses around the world. The Global Business Verification solution achieves that by querying hundreds of government registers and public records in real time, the company said in the press release.

Due Diligence 46

Due Diligence Money Laundering Verification AML 46

PYMNTS

NOVEMBER 15, 2018

The Australian government has announced a new initiative to support small business finance following a series of steps to crack down on bank mistreatment of SMBs. Reports in Reuters said Wednesday (November 14) that the government will purchase up to $1.44 Smaller banks, meanwhile, cannot sell debt to other parties.

Small Business 58

Small Business Non-Bank Due Diligence Governance 58

PYMNTS

DECEMBER 10, 2020

Still, it was a wake-up call for the industry, showing that such lapses could result in significant fees and criminal prosecution if basic due diligence is not followed. . s executives avoided potential jail sentences. However, cutting corners on these processes also comes at a price, with up to $3.9 million by 2025.

Due Diligence 80

Due Diligence Online and Mobile Banking BSA Federal Reserve 80

The Fintech Times

JANUARY 28, 2024

Moody’s new Shell Company Indicator analyses over 485 million companies, entities, and individuals to flag behaviours that indicate a shell company may require further due diligence to assess its potential for involvement in illicit financial activity.

Due Diligence 59

Due Diligence Financial Crimes Crime Assessments 59

PYMNTS

SEPTEMBER 21, 2020

Risk factors include monitoring the volume/nature of the transactions and government responsibilities. The agencies offered a bit more transparency in identifying politically exposed persons to aid in AML efforts.

Fincen 139

Fincen AML Suspicious Activity Report (SAR) Financial Crimes 139

Fintech Review

APRIL 19, 2025

This includes due diligence, auditing, and shared responsibilities with financial institutions. Platforms that embrace proactive governance and regtech integrations are better positioned for long-term growth. Even if financial services are offered via partners, platforms must understand their compliance obligations.

Finance 52

Finance FinTech Embedded Finance Payment APIs and Integration 52

Finovate

FEBRUARY 15, 2024

Banks, payment providers, brokers, wealth management companies, and governments. Features Automates KYC and KYB due diligence Streamlines approval and risk assessment workflows Delivers visual workspace for designing customer onboarding experiences Who’s it for?

Due Diligence 59

Due Diligence Risk Assessment CRM AI 59

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 59

Financial Crimes Due Diligence Compliance AML 59

Fintech News

MAY 22, 2024

Founded in 2018, the company’s technology can extract and verify information from most identity documents used globally, checking this information in real-time against local government and credit bureau databases. IDVerse has achieved 99.99% accuracy in independent lab testing. Transparently.AI

Financial Crimes 101

Financial Crimes Crime APACS Risk Assessment 101

VISTA InfoSec

NOVEMBER 4, 2024

Understand the responsibilities for ICT risk management According to Article 5 , the board of directors is accountable for ensuring the integration of ICT risk management into the organizations governance. This means that board members must be involved in overseeing and approving all ICT risk management strategies.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Understand the responsibilities for ICT risk management According to Article 5 , the board of directors is accountable for ensuring the integration of ICT risk management into the organizations governance. This means that board members must be involved in overseeing and approving all ICT risk management strategies.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130