FICO

JANUARY 5, 2021

What else made for the hottest reads in 2020 for fraud and financial crime? Here were our top 5 posts: #1: Fraud And Financial Crime Convergence. TJ Horan reported on a key takeaway from the Aite Financial Crime Forum : lenders are serious about combining their fraud and financial crime protection systems.

Financial Crimes 52

Financial Crimes Crime Posting Scams 52

Fintech News

MAY 7, 2024

Deputy Prime Minister and Minister for Finance, Lawrence Wong, discussed the potential expansion of the Monetary Authority of Singapore’s (MAS) anti-money laundering platform, COSMIC, to non-banking sectors in a recent response to a parliamentary question.

AML 107

AML Money Laundering Non-Bank Financial Crimes 107

Fintech News

OCTOBER 6, 2024

The IMC’s report outlines strategies aimed at strengthening prevention, improving detection, and enforcing tougher penalties to better protect the integrity of Singapore’s financial system against increasingly sophisticated financial crimes.

Money Laundering 120

Money Laundering Law Enforcement Financial Crimes Due Diligence 120

FICO

OCTOBER 8, 2018

With financial crime on the rise, it’s worth noting the firms that are succeeding in the fight. One of these is Belgazprombank , a leading lender in Belarus, which implemented a system from FICO that screens financial transactions and customers in order to prevent financial crime in Eastern Europe.

Financial Crimes 40

Financial Crimes Crime Database Non-Bank 40

The Fintech Times

APRIL 8, 2025

International payments business Caxton has appointed Roger Bracken to its board in the position of non-executive director. Lee Dunne has been appointed as the new head of banking by European financial technology provider payabl. The facility will support SMEs and local corporates engaged in the import sector.

FinTech 59

FinTech Settlement AI Non-Bank 59

Fintech News

APRIL 28, 2024

The banking industry is shifting towards innovation, collaboration and customer-centricity, driven by the adoption of technologies including cloud computing, data analytics, artificial intelligence and machine learning (AI/ML), changing customer preferences, and a rapidly evolving regulatory landscape, a new report by Amazon Web Services (AWS) says.

AI 111

AI Innovation Financial Crimes Crime 111

FICO

FEBRUARY 11, 2019

APC Intelidat, the credit bureau in Panama, will soon provide regulatory compliance capabilities to its customers and fight financial crime in Panama with a FICO solution. This is the beginning of our relationship with FICO, which is known worldwide for its risk management and financial crime compliance solutions.

Financial Crimes 40

Financial Crimes Crime Due Diligence Money Laundering 40

FICO

AUGUST 12, 2021

Financial Institutions’ compliance officers and teams should be concerned that Open Banking may render their existing AML/CTF and KYC compliance programs inadequate. Open banking is evolving around an ecosystem of third-party providers (TPPs). What is Open Banking? Customer data screen-scraping widespread.

Financial Crimes 52

Financial Crimes Compliance Crime Risk 52

Fintech News

MAY 20, 2024

Cyber Crimes, Cybersecurity, and Fintech Panel Event May 23, 2024, 12:00 CEST On May 23, 2024, at 12:00 CEST, a panel event titled “Cyber Crimes, Cybersecurity, and Fintech” will be hosted by Peirce College. The session will be moderated by Urs Bolt, a Fintech and Banking Expert.

FinTech 135

FinTech Embedded Finance BNPL On-Demand 135

The Fintech Times

JANUARY 30, 2025

Partnerships and collaborations Banco Sabadell has unveiled a strategic alliance with Snowdrop Solutions, a geolocation-based technology services company, to enhance the customer experience within the bank’s app.By The Bank of America Corporation board of directors has appointed Maria Martinez as a director.

FinTech 64

FinTech Reconciliation Financial Crimes Audit 64

Neopay

OCTOBER 3, 2024

The recent £29 million fine imposed on Starling Bank by the Financial Conduct Authority (FCA) for financial crime failings offers important lessons for businesses in the e-money and payments industry. For more details, you can read the FCA’s Final Notice on Starling Bank’s failings here.

Financial Crimes 59

Financial Crimes Crime Due Diligence Compliance 59

FICO

JANUARY 19, 2022

From TBML to BNPL to NFTs, 2021 found fraud and financial crime professionals dealing with a plethora of new challenges and criminal schemes. Our five most popular posts of the year dealt with trade-based money laundering, non-fungible tokens, buy now pay later scams, courier scams and good old credit card fraud.

Financial Crimes 52

Financial Crimes Crime Money Laundering NFTs 52

Fintech News

JULY 17, 2024

The rapid ascent of cryptocurrency has ushered in a new era of financial innovation, but it has also created novel challenges in combating financial crime. The far-reaching study encompasses both crypto-native and non-crypto native methods, as well as strategies for prevention.

Money Laundering 107

Money Laundering Law Enforcement AML Non-Bank 107

Fintech Finance

JULY 2, 2024

This is according to the first findings of an in-depth financial crime survey by The Payments Association , which champions innovation and collaboration across the industry, due for full publication later this month. Often, APP fraud attempts can be as simple as a text claiming to be from a bank asking for funds to be transferred.

Scams 98

Scams Financial Crimes Crime Payments 98

The Fintech Times

OCTOBER 5, 2024

The booming popularity of neobanks following the pandemic saw people, both good and bad, flock to them, however, one notable name has failed to tackle financial crime and as a result is now facing a hefty fine from the Financial Conduct Authority (FCA). million in 2023. ” Is this enough of a punishment?

Financial Crimes 83

Financial Crimes Crime Compliance Money Laundering 83

The Fintech Times

APRIL 8, 2024

This April, The Fintech Times is focusing on all things embedded finance, the integration of financial services into non-financial products and services. First, we turn our attention to the growth of Banking-as-a-Service (BaaS). Raman Korneu , CEO and co-founder of digital banking platform myTU.

FinTech 116

FinTech BSA Regulatory Compliance Money Laundering 116

PYMNTS

MARCH 25, 2019

When it comes to financial crime, it seems, the bad guys are getting away with financial murder. The implication, then, is that financial institutions are not doing what they could or should do to detect and prevent financial crimes. The numbers are sobering. Even staggering.

AML 78

AML Financial Crimes Money Laundering Crime 78

The Fintech Times

AUGUST 17, 2024

The US subsidiary of a Canadian bank was issued a fine of $65million for unsafe practices related to operational, compliance, and strategic risk management controls. The bank was ordered to pay the fine to resolve investigations by The Office of the Comptroller of the Currency (OCC), an independent bureau of the US Department of the Treasury.

APACS 59

APACS Suspicious Activity Report (SAR) Office of the Comptroller of the Currency Financial Crimes 59

PYMNTS

JANUARY 31, 2019

moves from an antiquated, check-based system to more real-time systems, you haven’t got weeks or months – you have to check immediately if there is a threat,” explained Charles Delingpole, CEO of anti-financial crime technology platform Mimiro. banks, separate data revealed. . “As the U.S. trillion in the U.S.

Faster Payments 73

Faster Payments Money Laundering Same Day ACH AML 73

Finovate

AUGUST 9, 2024

. “GCash is an indispensable infrastructure for everyday life of Filipinos and we are delighted to join Mynt as a strategic investor to support the growth of the company,” MUFG Senior Managing Corporate Executive, Head of Global Commercial Banking Business Group Yasushi Itagaki said.

Electronic Funds Transfer (EFT) 106

Electronic Funds Transfer (EFT) Cross-Border Payments Financial Inclusion Cross-Border 106

PYMNTS

DECEMBER 4, 2018

European Union finance ministers worked out a plan for combating money laundering and also made a deal on major bank reform on Tuesday (Dec. The money laundering plan is a response to highly visible cases of alleged criminal activity at EU banks in countries such as Malta, the Netherlands, Britain, Estonia and others.

Money Laundering 57

Money Laundering Non-Bank Financial Crimes Rules 57

The Payments Association

JANUARY 31, 2025

While this requirement has been a cornerstone of AML and CTF efforts, its implementation has traditionally focused on the banking sector, which operates within well-defined regulatory frameworks. On the one hand, the FATFs extension of the Travel Rule to cryptoassets demonstrates its commitment to modern financial crime prevention.

Travel Rule 88

Travel Rule Wire Transfer Rules Compliance 88

Finovate

MARCH 7, 2025

As a proliferation of payment options promises to streamline banking and commerce, regulators, fintechs, and financial services companies are looking for ways to make sure that the challenges to these new payment optionsfrom technical complexity to new forms of fraud and financial crimeare met. And then trust.

Payments 52

Payments Push-to-Card Online and Mobile Banking P2P 52

Fintech News

OCTOBER 28, 2024

It enables financial institutions, especially those without core banking systems or with systems lacking API integration, to manage bulk transactions. Integrated with bank accounts and digital wallets in Pakistan, Hakeem provides customers with easy disbursement options. ThitsaWorks Pte.

AI 106

AI FinTech Innovation Payment APIs and Integration 106

The Fintech Times

SEPTEMBER 12, 2024

Throughout this month, we’ll be looking into how regtech can help firms ensure compliance and what the space can do to better support financial institutions and fintechs. In July, the Competition and Markets Authority (CMA) revealed four UK high-street banks had failed to comply with banking rules designed to keep customers safe.

Compliance 64

Compliance Regulations Financial Crimes Non-Bank 64

PYMNTS

OCTOBER 7, 2018

investigation into money laundering at Danske Bank ’s Estonia branch, shares of the bank have reached the lowest level in four years on Friday (October 5). and the bank is trying to comfort investors, Reuters reported. Danske Bank’s interim chief financial officer Morten Mosegaard noted that the U.S. Amid a U.S.

Money Laundering 59

Money Laundering Law Enforcement Financial Crimes Correspondent Bank 59

PYMNTS

MARCH 15, 2019

As a major player in cross-border banking and global finance, the country doesn’t just need to combat domestic financial crimes: It is also at risk of becoming a hub for transmitting and investing criminal funds obtained overseas. . banks and their subsidiaries every year. It is actually impossible in the U.K.,

Money Laundering 65

Money Laundering AML Non-Bank Regulations 65

FICO

OCTOBER 11, 2017

Businesses have relied on AI to fight fraud and financial crime for more than 25 years. Before these neural network defenders came along, banks used rule-based systems to try to prevent fraud. Criminals can learn the AI we rely on by directing fake test data at banks’ AI systems. Why We Need Defensive AI.

AI 110

AI Law Enforcement Rules Non-Bank 110

FICO

MAY 20, 2021

I’m very pleased to announce the release of the FICO® Falcon® Fraud Manager Retail Banking Consumer v3.0 model, which adds a Scam Detection Score to Falcon’s existing third-party fraud detection score for retail banking transfers. But this may not be enough, as pressure is mounting for reimbursement to be mandatory for all banks.

Scams 52

Scams Financial Crimes Non-Bank Crime 52

The Fintech Times

JUNE 1, 2024

Even worse, the fraud landscape shows no signs of improving, as bad actors increasingly utilise AI to increase the damage done to financial organisations. However, many of the largest financial organisations worldwide are actively investigating measures to counteract these threats. Meanwhile, the fraud landscape is rapidly changing.

SWIFT 124

SWIFT AI Fraud Detection Fraud Prevention 124

PYMNTS

SEPTEMBER 11, 2019

Jamal El-Hindi, the deputy director of the Financial Crimes Enforcement Network (FinCEN), spoke at the 2019 Money Transmitter Regulators Association Annual Conference on Wednesday (Sept. 11) about the importance of innovation and the regulation of non-banking financial institutions (NBFI), according to a release.

Fincen 46

Fincen Non-Bank Money Laundering AML 46

The Fintech Times

DECEMBER 12, 2023

NexPay , a global education payments, has unveiled new board roles including David Jonhstone as non-executive chair, Rajesh Yohannan, the current CEO of Axi Corp, as a non-executive board director, as well as Clive Wilson to the newly created role of chief risk and governance officer.

FinTech 59

FinTech Financial Crimes Non-Bank Point-of-Sale (POS) 59

PYMNTS

JUNE 17, 2020

In financial fraud, the breaches come when bank standards are lax. Australian bank Westpac Banking Corp. And that guiding principle is what leads fraudsters and bad actors to probe systemic vulnerabilities in banks’ compliance processes. may stand as Exhibit A here.

AML 75

AML Money Laundering Compliance Financial Crimes 75

PYMNTS

JULY 9, 2020

Updating the regulations began months ago, but the safeguards were accelerated as more customers began to rely on pre-paid cards and other non-bank services amid the disruption caused by COVID-19. This is the end of light-touch regulation of e-money and payment institutions.” .

Rules 67

Rules Third-Party Service Provider Money Laundering Regulations 67

PYMNTS

NOVEMBER 30, 2020

In today’s top news in digital-first banking, Computer Services, Inc. Plus, Emirates National Bank Dubai (Emirates NBD) has rolled out its businessONLINE omnichannel platform for small firms. (CSI) Emirates NBD Debuts Omnichannel Corporate Banking Program. COVID Programs Allowing Loan Deferrals Have Shown Mixed Outcomes.

AML 59

AML Money Laundering Non-Bank Liquidity Management 59

The Fintech Times

FEBRUARY 21, 2024

The Commonwealth Bank of Australia (CBA) has become the latest financial institution to be approved as a Validation Agent in the Global Legal Entity Identifier (LEI) System. The post GLEIF Approves Commonwealth Bank of Australia as Region’s First Validation Agent appeared first on The Fintech Times.

ISO 20022 59

ISO 20022 Legal Non-Bank Accreditation 59

FICO

NOVEMBER 22, 2017

To tackle this menace, regulators have slapped fines on banks who fail to stop money laundering. It’s not that banks haven’t put in controls to tackle this menace. Each bank has dedicated large teams whose sole purpose is to monitor financial and non-financial transactions and identify and create suspicious activity reports, or SARs.

AML 78

AML AI Money Laundering SARS 78