PYMNTS

SEPTEMBER 21, 2020

FinCEN received more than 2 million SARs last year. Since 2010, prosecution has been delayed by 18 banks for anti-money laundering, according to BuzzFeed. Of those, at least four went on to break the law again and get fined. Paul Pelletier, a former senior Justice Department lawyer, said there’s one way to stop the illegal activity.

Fincen 111

Fincen Suspicious Activity Report (SAR) Money Laundering SARS 111

PYMNTS

JANUARY 15, 2021

It also said the bank’s Check Cashing Group admitted that it failed to file thousands of suspicious activity reports (SARs) as well as thousands of Currency Transaction Reports (CTRs) from 2008 to 2014. financial system.”.

Fincen 107

Fincen Suspicious Activity Report (SAR) Money Laundering SARS 107

Fintech Finance

AUGUST 8, 2024

billion Alipay+ users worldwide can make payments via 15 Asian and European Alipay+ e-wallets at retail stores leveraging Thunes’ Accept solution.

Cross-Border Payments 98

Cross-Border Payments Cross-Border SARS Alternative Payment Methods 98

Fintech News

NOVEMBER 27, 2024

Currently supporting USD, EUR, and SGD transactions, Partior plans to integrate additional currencies such as AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR. The platform addresses inefficiencies in legacy payment systems by offering improved transparency, instant liquidity, and enhanced security.

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Cross-Border SARS Multi-Currency Correspondent Bank 109

Fintech News

MARCH 26, 2024

These partners include: AlipayHK (Hong Kong SAR, China), ANEXT Bank (Singapore), BigPay (Malaysia), bKash (Bangladesh), DANA (Indonesia), GCash (the Philippines), Hipay (Mongolia), Kakao Pay (Republic of Korea), MPay (Macao SAR, China), TNG Digital (Malaysia), TossPay (Republic of Korea), TrueMoney (Thailand), and Zalopay (Vietnam).

APACS 104

APACS FinTech SARS Authorization 104

Fintech Finance

JUNE 24, 2024

Alipay+ has now enabled over 400,000 merchants in Europe, with over 120,000 in the DACH region alone.

Transactions 108

Transactions SARS Cross-Border eWallet 108

Fintech Finance

AUGUST 21, 2024

These 12 overseas e-wallets include AlipayHK (Hong Kong SAR, China), Kaspi.kz (Kazakhstan), MPay (Macao SAR, China), Touch ‘n Go eWallet (Malaysia), Hipay (Mongolia), NayaPay (Pakistan), Changi Pay (Singapore), OCBC Digital (Singapore), Kakao Pay (South Korea), Naver Pay (South Korea), Toss Pay (South Korea) and TrueMoney (Thailand).

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SARS Debit Card Mobile Payments eWallet 98

PYMNTS

DECEMBER 28, 2020

FinCEN also emphasized the importance of Suspicious Activity Reports (SARs) as being critical to identifying and stopping cybercrime in “conjunction with effective implementation of Bank Secrecy Act (BSA) compliance requirements.”. So far, two vaccinations have been approved by the U.S. Food and Drug Administration (FDA) for emergency use.

Fincen 127

Fincen Suspicious Activity Report (SAR) Scams Federal Trade Commission 127

PYMNTS

JANUARY 30, 2019

The payments company, which was not named for legal reasons, said at least two of its accounts were frozen in October of 2015 after RBS filed suspicious activity reports (SARs) to the National Crime Agency (NCA) in the U.K.

Suspicious Activity Report (SAR) 77

Suspicious Activity Report (SAR) Accounts SARS Money Laundering 77

The Fintech Times

APRIL 29, 2024

If that is not the case, and you observe unusual and/or suspicious activity, submit a report (via a suspicious activity or transaction report – SAR or STR) to your local financial intelligence unit (FIU) for investigation, if necessary, escalate matters to the relevant law enforcement authorities. million SARs to the U.S.

Money Laundering 78

Money Laundering AML SARS Financial Crimes 78

PYMNTS

OCTOBER 8, 2020

Adults with positive SARS-CoV-2 test results were approximately twice as likely to have reported dining at a restaurant than were those with negative SARS-CoV-2 test results.”. America doesn’t have the appetite for this. We’ve had it. And restaurant operators are aware.

SARS 116

SARS Research Consumer Economy 116

PYMNTS

APRIL 2, 2020

“I’m happy to report that my team has successfully taken five antibodies that back in 2002 were determined to bind and neutralize, block and stop the SARS virus [and] evolved them in our laboratory, so now they very vigorously block and stop the SARS-CoV-2 [COVID-19] virus as well.”

SARS 93

SARS Blocks Consulting Research 93

FICO

NOVEMBER 22, 2017

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. They rely on a Know-Your-Customer process, and use gaggles of transaction rules to identify SARs. Auto-Encoders for Unsupervised Anomaly Scoring.

AML 78

AML AI Money Laundering SARS 78

Fintech News

FEBRUARY 4, 2024

This expansion allows tourists and residents alike to use e-wallets such as Hipay from Mongolia, MPay from Macao SAR, MyPB by Public Bank from Malaysia, Toss Pay and Naver Pay from South Korea, and Tinaba from Italy, alongside existing options including AlipayHK, GCash, Kakao Pay, Touch n’ Go eWallet, TrueMoney, and others.

Cross-Border Payments 114

Cross-Border Payments SARS eWallet Cross-Border 114

Fintech Finance

JULY 10, 2024

AlipayHK users will be able to earn personalised rewards with every FREENOW ride they take, providing another benefit for travelers from the Hong Kong region.

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Cross-Border SARS eWallet Mobile Payments 98

Fintech News

MAY 19, 2024

The company is currently serving over 13,000 SME customers and employing more than 400 staff across Singapore, Hong Kong SAR, the UK, the Netherlands, the Philippines, and Malaysia. Osome offers solutions in streamlining accounting, financial compliance, and other automatable business tasks.

Automation 101

Automation AI SARS Compliance 101

Fintech News

JUNE 5, 2024

ANEXT Bank’s customers have extended their operations into key markets such as mainland China, Hong Kong SAR, the United States, and various Southeast Asian countries. These trends align with Singapore’s role as a global trade and financial hub.

Micro-Entry 110

Micro-Entry SARS Multi-Currency Cross-Border 110

FICO

FEBRUARY 13, 2017

As regulations become ever more demanding, the rules-based systems grow more and more complex with hundreds of rules driving know your customer (KYC) activity and Suspicious Activity Report (SAR) filing. As more rules get added, more and more cases get flagged for investigation while false positive rates keep increasing.

Money Laundering 74

Money Laundering AML AI Suspicious Activity Report (SAR) 74

The Fintech Times

FEBRUARY 18, 2024

The solutions provide significant reductions in investigation time and substantial time savings in suspicious activity report (SAR) filing, improving efficiency in financial crime as well as compliance risk management programmes.

Financial Crimes 59

Financial Crimes Crime Suspicious Activity Report (SAR) AI 59

Fintech Finance

DECEMBER 14, 2023

The campaign, which will last till December 31, will first be launched for the destinations of Hong Kong SAR, Macao SAR, Japan, South Korea, Singapore, Malaysia and Thailand. As a result, merchants in the Chinese mainland, Macao SAR, Japan, South Korea and Singapore benefited the most from the surge in cross-border mobile payment.

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SARS Cross-Border eWallet Cross-Border Payments 69

PYMNTS

MARCH 4, 2020

Previous travel industry downturns were triggered by the 9/11 terrorist attacks in 2001, the SARS pandemic in 2002 and the Iraq war in 2003. Covid-19 is a genetic cousin of the SARS virus, although it is less serious. International tourism generated $1.7 trillion in revenue in 2018, according to the UN World Tourism Organization.

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SARS Payments 75

Fintech News

JUNE 4, 2024

ORO Bank is part of the Gelephu Mindfulness City Special Administrative Region (SAR), a strategic initiative announced by the King of Bhutan, with the aim to serve both local and international clients, particularly startups and emerging businesses.

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SARS Non-Bank Mitigation Innovation 110

Fintech Finance

OCTOBER 10, 2024

2) Travelers spend more, with a shift toward localized experiences Alipay+ payment partners include top payment apps from across Asia, such as Alipay (Chinese mainland), AlipayHK (Hong Kong SAR), Touch ‘n Go eWallet (Malaysia), GCash (the Philippines), KakaoPay, Toss Pay and Naver Pay (South Korea), OCBC (Singapore), TrueMoney (Thailand) and more.

Cross-Border 98

Cross-Border Transactions Digital Payments Technology 98

FICO

FEBRUARY 15, 2017

Our new machine-learning techniques are directed specifically towards real-time, transaction-based KYC anomaly detection and highly refined self-learning models focused on anti-money laundering SAR (suspicious activity report) detection. The weights of the model are either expert-driven or based on limited SAR data.

AML 67

AML AI SARS Money Laundering 67

FICO

JUNE 9, 2022

AML Threat Score: Reducing False Positives Amid Defensive SAR Filings. Defensive SARs obscure the true efficacy of the AML program with a high volume of low-quality outcomes. The Cascading Effect of Defensive SARs. Furthermore, defensive SARs make it hard to quantify false positive reduction, even at 100% SAR detection.

Money Laundering 52

Money Laundering AML SARS AI 52

FICO

MARCH 4, 2021

Second, rules-based AML systems create an inordinate amount of false positive alarms, diverting investigative resources from pursuing genuine Suspicious Activity Reports (SARs). Supervised machine learning AI models are trained to distinguish between suspicious and normal behaviors, using historical SARs as training examples.

AML 52

AML SARS Money Laundering Suspicious Activity Report (SAR) 52

The Fintech Times

DECEMBER 16, 2023

These e-wallets include Alipay (Chinese mainland), AlipayHK (Hong Kong SAR, China), Touch ‘n Go eWallet by TNG Digital (Malaysia), GCash (the Philippines), and TrueMoney (Thailand).

Cross-Border 69

Cross-Border SARS Cross-Border Payments eWallet 69

Fintech Finance

JULY 25, 2024

Mobile-savvy travelers from the Chinese Mainland, Hong Kong SAR, Europe, Malaysia and South Korea lead the European travel craze in terms of the number of transactions and total spending. The number of tourists who paid with their preferred home payment app via Alipay+ rose by over 30% during the championship period.

Cross-Border 98

Cross-Border Tax Refunds eWallet SARS 98

The Fintech Times

AUGUST 19, 2024

Since China took Hong Kong back from the British during the 1997 handover, the uniqueness of the Hong Kong Special Administrative Region (SAR) meant that under the ‘one country two systems’ policy, it continues to thrive thanks to its own strengths. As a result, Hong Kong SAR is the world’s largest offshore yuan financing centre.

FinTech 72

FinTech SARS Central Bank Cross-Border 72

Fintech Finance

NOVEMBER 6, 2024

Eligible users may redeem the offer once during the campaign period.

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Cross-Border SARS eWallet Payments 97

The Fintech Times

APRIL 29, 2024

The partnership aims to enhance the travel experience for international visitors exploring the island destination of Jeju by providing convenient digital payment services and exclusive offers and contributing to boosting the local economy.

SARS 72

SARS Online and Mobile Banking eWallet Mobile Payments 72

Fintech Finance

JANUARY 3, 2024

Through simple integration, Alipay+ e-wallet and bank partners that are accepted across the UAE include Alipay, AlipayHK, MPay (Macao SAR, China), GCash from the Philippines, Kakao Pay，Naver Pay and Toss Pay from South Korea, OCBC from Singapore, TrueMoney from Thailand, Hipay from Mongolia and Tinaba from Italy.

Cross-Border Payments 97

Cross-Border Payments Cross-Border SARS Digital Payments 97

Fintech News

JULY 14, 2024

It will also significantly aid Partior’s international network growth and the integration of additional currencies, such as AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR, into its network — adding on to the USD, EUR, and SGD that Partior currently operates.

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Cross-Border Correspondent Bank Multi-Currency Settlement 108

PYMNTS

OCTOBER 27, 2016

are accustomed to submitting suspicious activity reports (SARs) to the government when fraud cases involving at least $5,000 take place. The goal is for the additional information to help combat the growing threat that digital crimes pose to the country’s financial system, Reuters reported on Tuesday (Oct. Banks in the U.S.

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Suspicious Activity Report (SAR) Treasury Fincen SARS 59

Fintech News

JANUARY 15, 2024

ipaymy, a fintech company specialising in B2B payments, has unveiled its latest offering, Fetch , an invoicing platform aimed at enhancing the payment processes for SMEs in Singapore, Hong Kong SAR, Malaysia, and Australia.

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SARS Settlement Payments Cryptocurrency 78

PYMNTS

DECEMBER 3, 2019

Banks no longer have to submit a suspicious activity report (SAR) just because a business is growing or cultivating hemp. Financial institutions should follow standard SAR procedures and submit a report only if there is questionable behavior.

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Suspicious Activity Report (SAR) BSA Rules Office of the Comptroller of the Currency 55

Fintech Finance

DECEMBER 20, 2024

Alipay+ works with its partners and merchants to serve 1.6 billion user accounts worldwide and is enabled in 66 markets globally, with over 90 million merchants.

Cross-Border 78

Cross-Border Mobile Payments SARS eWallet 78