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Why payment transparency is critical to the future of correspondent banking

The Payments Association

In 2023, the Financial Action Task Force (FATF) reaffirmed its commitment to Recommendation 16, which requires that accurate and complete information on both the originator and beneficiary accompany all cross-border wire transfers. 2) Regulations 2022 updated existing rules, reflecting elements of the EUs 2023 regulation.

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Understanding Crypto Money Laundering, and How to Get a Handle on It

Fintech News

In 2023, there were over 1.4 The United States continues to rely on the Bank Secrecy Act (BSA) as the primary legal framework governing AML regulations, with the Financial Crimes Enforcement Network (FinCEN) providing guidance on how these regulations apply to cryptocurrency businesses.