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 57

Financial Crimes Due Diligence Compliance AML 57

Seon

SEPTEMBER 23, 2024

List Checking : Comparing information against core sanctions lists, such as the Office of Foreign Assets Control (OFAC) Consolidated List, OFAC’s Specially Designated Nationals (SDN) List, the European Union’s Consolidated List of Sanctions, the United Nations Security Council’s Consolidated List, and other local regulatory watchlists.

Suspicious Activity Report (SAR) 52

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

Stax

DECEMBER 4, 2023

Each merchant is verified and validated using KYC, AML, OFAC, and credit checks so you may rest easy as we do the heavy lifting for you. Ensure proper customer due diligence, including identity verification and risk assessment. To learn more, contact our team today. Q: Why is AML compliance critical for PayFacs?

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

PYMNTS

MAY 10, 2018

May 11 marks a watershed moment of sorts for financial institutions (FIs), with new requirements for customer due diligence. Barnhardt noted that FinCEN’s Customer Due Diligence rules are fluid ones. According to new processes mandated by the Financial Crimes Enforcement Network (FinCEN) and the U.S.

Due Diligence 40

Due Diligence Compliance Fincen Legal 40

PYMNTS

AUGUST 14, 2019

His worry, he said, are the areas where they have expected to see more data reporting and haven’t; as well as indications that casinos have been taking their foot off the gas pedal of late when it comes to their compliance activities.

Fincen 65

Fincen Financial Crimes Crime Suspicious Activity Report (SAR) 65

FICO

MARCH 6, 2020

For most of the public lists (EU, OFAC, UN, HMT, etc.) The KYC-assigned risk level and due diligence rules determine how closely and frequently each customer will then be scrutinized during ongoing customer monitoring by our AML system. Third-party data sources enrich the data with information on for example beneficial owners.

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

PYMNTS

FEBRUARY 12, 2019

’s importation of those goods via China was found to be in violation of the Treasury’s Office of Foreign Assets Control (OFAC) North Korea Sanctions Regulations. “The level of due diligence is greater than any time in the past several decades, because regulators around the world are requiring more,” he said.

Settlement 43

Settlement Compliance Risk OFAC 43