Neopay

MAY 7, 2024

This involves implementing more stringent oversight and reporting processes, aligning with the 2022 update to the Money Laundering Regulations (MLR). This includes references to the travel rule and updates to sections on risk assessment and fraud.

Financial Crimes 52

Financial Crimes Crime Risk Assessment Money Laundering 52

Neopay

JANUARY 25, 2024

The European Banking Authority (EBA) on 16th January extended its Guidelines on money laundering (ML) and terrorist financing (TF) risk factors to crypto-asset service providers (CASPs).

Service Provider 52

Service Provider Risk Due Diligence Money Laundering 52

PYMNTS

OCTOBER 28, 2020

In today’s top news in digital-first banking, Oracle is introducing new cloud offerings to provide smaller banks with the tools to combat large-scale money laundering schemes, while the Automated Clearing House saw a sizable increase in acidity in Q3. Fed Reserve, FinCEN Seek Input on Bank Secrecy Act Rule Changes.

ACH 40

ACH Cybersecurity Fincen Travel Rule 40

Fintech News

FEBRUARY 27, 2024

In pursuit of clearer regulatory guidelines, Anti-Money Laundering (AML) registration requirements were enforced from March 2023. Moreover, the Directorate of Enforcement in India confiscated over 1,144 crore Indian Rupees (approximately US$130 million) linked to crypto-related money laundering offences.

APACS 114

APACS Regulations Stablecoins Cryptocurrency 114

PYMNTS

DECEMBER 9, 2020

It takes significant resources when developing an exchange in-house to locate and pay liquidity providers, know-your-customer (KYC) providers, custodians, cybersecurity providers and anti-money laundering providers (AML) — while also convincing financial institutions to function as the role of fiat on-off ramps, according to the post.

AML 70

AML Travel Rule Money Laundering Blockchain 70

PYMNTS

SEPTEMBER 24, 2019

CCN reported last week that the Financial Action Task Force (FATF), which is an inter-governmental body, has anti-money laundering (AML) standards in place that enforce what is known as a “travel rule” where transactions over $1,000 need to be identified.

Bitcoin 72

Bitcoin Travel Rule Cryptocurrency Money Laundering 72

PYMNTS

NOVEMBER 20, 2019

Travel Rule. Digital currency exchanges reportedly are not happy with this move, given that the guidance seems sure to lead to more expense on the part of those companies in making sure they comply with the new rules. At issue most of all is Recommendation 16 in the FAFT guidance, a so-called “travel rule.”

Travel Rule 49

Travel Rule Rules Digital Currency Cryptocurrency 49

Global Fintech & Digital Assets

JANUARY 8, 2024

The FRS issuer would need to have appropriate senior management, risk management, and anti-money laundering / counter-financing of terrorism controls (including for conducting customer due diligence and complying with the travel rule) for its operations. Governance and risk management requirements would be imposed.

Stablecoins 59

Stablecoins Consulting Issuers Non-Bank 59

PYMNTS

DECEMBER 10, 2020

Government regulators and cryptocurrency exchanges are frantically looking for ways to regulate and prevent the laundering of stolen money through cryptocurrencies, with some methods showing more promise than others. How Money Launderers Exploit Cryptocurrency. or the U.S.,

AML 88

AML Cryptocurrency Money Laundering Compliance 88

Fintech News

JANUARY 24, 2024

These figures suggest that despite early claims that a clear regulatory framework would provide a solid foundation for Singapore to consolidate its position as Asia’s crypto hub and allow the nation to see the emergence of a thriving crypto sector, the rules have weeded out an awful lot of startups, among which Binance and Huobi.

Service Provider 98

Service Provider Cryptocurrency Payments Institute Stablecoins 98