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 57

Financial Crimes Crime Suspicious Activity Report (SAR) AI 57

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).

SARS 98

SARS Debit Card Mobile Payments eWallet 98

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.

SARS 69

SARS Cross-Border eWallet Cross-Border Payments 69

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 76

Money Laundering AML SARS Financial Crimes 76

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

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 70

FinTech SARS Central Bank Cross-Border 70

The Fintech Times

SEPTEMBER 6, 2024

Returning to China in 1999, Macau became a Special Administrative Region (SAR) under the ‘one country two systems’ policy. Consequently, the SAR launched its plans for diversifying the economy based on the ‘1+4’ model in 2023. This sentiment was shared in Macau.

SARS 57

SARS Cross-Border Governance Government 57

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 67

Cross-Border SARS Cross-Border Payments eWallet 67

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 101

APACS FinTech SARS Authorization 101

FICO

MARCH 24, 2021

Financial Intelligence Units (FIUs) can play a critical role in producing sophisticated analysis on TBML schemes – including reporting entities (SAR/STR data). The graph below shows the trend of TBML-related SARs filed with FinCEN between 2014 and 2018. million SARs filed overall during the same period.

Money Laundering 98

Money Laundering SARS Financial Crimes Fincen 98

Fintech Finance

NOVEMBER 20, 2024

million businesses in Saudi Arabia, and they face a financing gap of over SAR 300 billion. Today, SMEs represent 1.3 The current process for SMEs to obtain financing is often lengthy, complex and costly, limiting their ability to manage cash flow, support day-to-day business operations and achieve growth.

Finance 81

Finance Point-of-Sale (POS) Financial Inclusion SARS 81

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 93

Cross-Border Transactions Digital Payments Technology 93

The Fintech Times

AUGUST 17, 2024

This includes know your customer (KYC), sanctions, suspicious activity reports (SARs), and transaction monitoring violations. Meanwhile, penalties specifically for transaction monitoring and SAR breaches, increased to a staggering $30.5million over the last six months, up from $6million.

APACS 57

APACS Suspicious Activity Report (SAR) Office of the Comptroller of the Currency Financial Crimes 57

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

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 70

SARS Online and Mobile Banking eWallet Mobile Payments 70

Fintech Finance

MAY 28, 2024

This supports a seamless buying experience for international visitors to the UK and enables merchants to better engage with their customers using DNA Payments’ POS solutions.

Cross-Border 52

Cross-Border SARS Alternative Payment Methods Cross-Border Payments 52

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.

Cross-Border 91

Cross-Border SARS eWallet Mobile Payments 91

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 95

Transactions SARS Cross-Border eWallet 95

The Fintech Times

APRIL 29, 2024

Various major global destinations have already accepted these Alipay+ partner wallets, including the Chinese mainland and Macao SAR, Singapore, Thailand, Malaysia, The Philippines, South Korea, Japan, Europe, as well as the Middle East. Similar to Alipay (Chinese mainland).

eWallet 57

eWallet SARS Cross-Border Payments Cross-Border 57

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

The Fintech Times

OCTOBER 15, 2024

It is also enabled in 66 markets globally, connecting over 90 million merchants.

SARS 52

SARS eWallet Cross-Border Payments 52

Fintech Finance

NOVEMBER 6, 2024

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

Cross-Border 90

Cross-Border SARS eWallet Payments 90

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 107

Micro-Entry SARS Multi-Currency Cross-Border 107

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 96

Automation AI SARS Compliance 96

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

The Paypers

MARCH 15, 2023

Global payments solution provider Checkout.com has enabled instant money transfers to Australia, Hong Kong SAR, and Singapore via Mastercard Send.

Visa 36

Visa SARS Global Payments Payment Solutions 36

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 94

Cross-Border Tax Refunds eWallet SARS 94

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.

SARS 107

SARS Non-Bank Mitigation Innovation 107

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 110

Cross-Border Payments SARS eWallet Cross-Border 110

Fintech Finance

NOVEMBER 5, 2024

“Locals benefit from new payment options while tourists can use their cards as they do at home, making travel infinitely easier, with one less thing to worry about while on the road.”

Visa 90

Visa Process Financial Inclusion SARS 90

The Fintech Times

MAY 28, 2024

Particularly in sectors including hospitality, travel and tourism.”

SARS 57

SARS Cross-Border Alternative Payment Methods Cross-Border Payments 57

The Fintech Times

FEBRUARY 1, 2024

Some of the supported e-wallets include: Alipay (Chinese mainland) AlipayHK (Hong Kong SAR China) MPay (Macao SAR China) Kakao Pay Naver Pay Toss Pay (South Korea) OCBC (Singapore) Touch&Go (Malaysia), GCash (The Philippines) TrueMoney (Thailand) Tinaba (Italy).

Tax Refunds 62

Tax Refunds SARS Cross-Border Cross-Border Payments 62

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

Fintech Finance

DECEMBER 7, 2023

In a significant milestone for this partnership, International Shoppes, a major duty-free retail group, will be among the first merchants gaining access to Alipay+, e-wallet partners of which include not only Alipay China wallet but also AlipayHK (Hong Kong SAR, China), Mpay (Macau SAR, China), GCash (The Philippines), Kakao Pay, NaverPay, TossPay (..)

Cross-Border 52

Cross-Border Mobile Payments SARS Payments 52

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.

Suspicious Activity Report (SAR) 55

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

PYMNTS

MARCH 4, 2020

His actions prevented the proper filing of many, many SARs, which hindered law enforcement’s ability to fully combat crimes and protect people,” said FinCEN Director Kenneth A. The bank had also neglected to submit suspicious activity reports (SARs) on time. The OCC also warned U.S.

AML 52

AML Suspicious Activity Report (SAR) Fincen BSA 52

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.

SARS 75

SARS Payments 75