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

Fintech News

MARCH 25, 2025

LANKAQR, launched in 2020, is managed by LankaPay and provides a unified digital payments platform across banks and merchants in the country. With the rollout now live, travellers from 10 countries and regions can use 14 Alipay+ partner e-wallets to make payments at over 400,000 merchants across Sri Lanka by scanning the LANKAQR code.

SARS

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

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

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

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). billion payment accounts of over 25 digital wallets, banking apps and buy now, pay later (BNPL) apps.

Cross-Border

The Fintech Times

APRIL 29, 2024

It is also the first time since February 2020 that the number of foreign tourists to Jeju has exceeded 100,000 per month for three consecutive months. According to the Jeju Tourism Organization, 377,734 foreign tourists visited Jeju between January and March this year, up 532.5 per cent from 58,609 during the same period last year.

SARS

FICO

NOVEMBER 27, 2019

Our experiences have shown that these technologies can increase the number of SARs by 20% while at the same time producing efficiency gains of 30% in alert and case management. Analytics-driven alert prioritization and RPA helps lower costs in the short term. Prediction 3: Fraud and Financial Crime Management Convergence.

Financial Crimes

FICO

JANUARY 5, 2021

What else made for the hottest reads in 2020 for fraud and financial crime? 4: Financial Crime Compliance Predictions 2020: More AI And Robots. Our experiences have shown that these technologies can increase the number of SARs by 20% while at the same time producing efficiency gains of 30% in alert and case management.

Financial Crimes

The Fintech Times

SEPTEMBER 14, 2024

Taiwan, along with South Korea, Hong Kong SAR, and Singapore, forms the group known as the ‘Four Asian Tigers,’ renowned for their rapid industrialisation since the 1960s. These economies have since developed into fully advanced nations.

Innovation

The Payments Association

JANUARY 29, 2025

Following the Financial Conduct Authoritys (FCA) 2020 visit, the FCA imposed a Voluntary Requirement (VREQ) to restrict new high-risk customer onboarding while CBPL remediated its controls. SAR and high-risk client backlogs : TD Bank faced delays in reviewing suspicious activity and closing high-risk accounts. November: Metro Bank16.6

Financial Crimes

PYMNTS

FEBRUARY 5, 2020

in 2020 instead of 2 percent. . Since the 2002 SARS outbreak, Chinese tourism to the U.S. tourism dollars, most of that in 2020, Oxford Economics estimates. A drop in Chinese tourism is the “most immediate and direct link between the U.S. He forecasts real GDP growth in the U.S. has gone up 1,270 percent to 2.8

Economy

PYMNTS

FEBRUARY 11, 2020

Eighty-seven percent believe the coronavirus will have a direct impact on 2020 revenues; 24 percent expect revenues to fall by 16 percent or more. The American Chamber of Commerce in Shanghai surveyed 127 U.S. companies with operations in Shanghai on Feb. Sixty percent of those companies are planning a work-from-home policy for their staff.

SARS

Fintech Finance

APRIL 8, 2024

Introduced in 2020, Alipay+ now connects over 88 million merchants in 57 countries and regions to 1.5 billion consumer accounts on over 25 e-wallets and banking apps, allowing consumers to travel and pay worry-free globally, and merchants to boost revenue through a growing portfolio of digitalization tools.

Consumer

FICO

MAY 20, 2021

in 2020 and AML program violations ended 2020 with record fines. billion in penalties in 2020 for not complying with AML regulatory requirements and surpassed the United States in enforcement actions. Automated Suspicious Activity Report (SAR) e-filing. 2021 has been extremely active in dispensing AML violations.

Financial Crimes

PYMNTS

FEBRUARY 3, 2020

Physical Retail Stumbles Into 2020 . In fact, some experts are looking at the picture in 2020 to get a bit darker before it gets light. The early days of 2020 have seen foot traffic fall, again in line with the trends of the last few years. We expect many companies — and many sizable companies — to announce closures.”.

Bitcoin

PYMNTS

MARCH 8, 2020

The airline industry , in one case, could take a huge hit of over $113 billion in revenue in 2020 with a drop in travel because of worries over the coronavirus. Travel industry downturns in the past were triggered by disasters such as the 9/11 attacks in 2001, the SARS pandemic in 2002, and the Iraq war in 2003.

On-Demand

FICO

OCTOBER 25, 2021

billion in AML-related fines and penalties in 2020. This model helped these banks achieve greater efficiency when detecting alerts worthy of inclusion in Suspicious Activity Reports (SARs). . Against these and other pressures, banks face an urgent need to improve their AML defenses. . AI Brings New Insights.

AML

Fintech News

JUNE 18, 2024

Originally from Sydney, Nestor’s 25-year career has seen her leading marketing teams across APAC in the financial services, technology, and hospitality industries, including 13 years at American Express in Australia and Hong Kong SAR, and stints at Hilton and eBay.

APACS

Fintech Finance

APRIL 26, 2024

Sun Ho, Chairman and CEO of Macau Pass, Macao SAR, said: “I am very delighted to see that through collaboration with Alipay+, our e-wallet MPay enables residents of Macao to enjoy a seamless cross-border mobile payment experience in Hong Kong without the need for currency exchange, thus greatly enhancing the convenience and security of payments.

Cross-Border

Stax

DECEMBER 4, 2023

trillion took place in 2020, accounting for about 2.7% It mandates ongoing monitoring of suspicious activity, recordkeeping, and submitting suspicious activity reports (SARs) to the government. With the global economy moving online, corruption, fraud, trafficking, and other illicit activities continue to rise. of global GDP.

Money Laundering

FICO

JUNE 12, 2020

From 2020, for AML compliance to be effective, it must use the latest AI technologies and be imbued as a culture from the top down, with its value to the entire business communicated and understood. 2) Bring Fraud and AML functions together. More cases get flagged for investigation driving up false positive rates significantly.

Financial Crimes

Seon

JUNE 29, 2023

According to estimates from the United Nations in 2020, 2% to 5% of global gross domestic profit (GDP) each year is laundered money. Reject any flagged transactions that continue to appear illegitimate at this point and file them in a suspicious activity report (SAR) for the attention of the organization’s given financial authority.

Transactions

CB Insights

JUNE 17, 2020

Apple and Google announced in April 2020 that they were collaborating on contact tracing technology for incorporation into iOS and Android devices. As of March 2020, Zoom’s share price increased 72% from December 2019 to April 2020. Big tech companies quickly jumped on the opportunity. Source: Business Insider.

Posting

PYMNTS

JANUARY 7, 2021

Health experts suspect that the latest surge in infections is being fueled in part by the emergence of a more contagious strain of the virus SARS-CoV-2, which causes COVID-19. During 2020, at least 26 million people in Europe were reported to have contracted the illness, resulting in more than 580,000 deaths, CNBC added.

SARS

PYMNTS

MARCH 2, 2020

Analysts have even gone so far as to suggest that 2020 could be a lost year, as earnings for most companies could show little to no increase. The House of Armani live-streamed a “dark” fashion show in Milan two weeks ago to present his fall 2020 lineup. Fewer products to buy means fewer sales to be made.

Economy

CB Insights

FEBRUARY 12, 2020

” Details on the partnership are expected to be announced in Q2 2020. The Zebra is the latest marketplace to join the likes of Insurify , Gabi , and PolicyGenius , which raised a combined $185M in the first months of 2020. . This week, coronavirus officially claimed more lives than SARS did as the death toll surpasses 1,000.

Blockchain

PYMNTS

JANUARY 31, 2020

Visa Direct, for its part, has served business-to-business (B2B) and small business transactions with more than 700 million transactions in the fiscal first quarter of 2020. Why the Coronavirus May Dwarf SARS’ $40B Economic Toll. Trackers and Reports. Managing Spend in a Sector Where Unplanned Expenses Are the Norm.

Technology

PYMNTS

MARCH 2, 2020

The novel coronavirus, officially known as COVID-19, has been the ongoing and unexpected opening drama of 2020, wreaking havoc in both public health and economic terms. Worldwide over 3,000 people have died from the virus, including the first two U.S. deaths reported over the weekend.

On-Demand

FICO

DECEMBER 19, 2018

In June, House members Blaine Leutkeymeyer (R-MO) and Steve Pearce (R-NM) introduced legislation that included an increase in the thresholds for currency transaction reports (CTRs), from $10,000 to $30,000, as well as suspicious activity reports (SARS), from $5,000 to $10,000. Where is BSA/AML reform headed in 2019?

BSA