PYMNTS

SEPTEMBER 21, 2020

Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) show that several of the largest global banks moved money on behalf of scores of individuals and enterprises involved in criminal financial activity. As Standard Chartered noted to BuzzFeed in the wake of the FinCEN files report: "In 2019 we monitored more than 1.2

Fincen

PYMNTS

FEBRUARY 1, 2021

Apple Bank for Savings was accused of failing to comply with the Bank Secrecy Act, according to the Federal Deposit Insurance Corporation (FDIC) per WSJ. The bank was recently fined in a separate charge that it failed to comply with a 2015 request by the FDIC to improve its AML compliance.

AML

Segpay

MARCH 24, 2025

Before addressing gaming and gambling regulations, let’s take a helicopter view at the regulatory frameworks that regulate the payments industry. USA: PSPs may need a Money Transmitter License (MTL) in each state they operate, plus registration with FinCEN as a Money Services Business (MSB).

Compliance

The Fintech Times

APRIL 8, 2024

“To address these challenges, companies require differentiated compliance frameworks tailored to their unique business models and market dynamics. In these instances, regulatory burdens are transferred directly onto the banking provider, who is responsible for bringing things like banking licenses and FDIC-insurance to the relationship.

FinTech

FICO

DECEMBER 19, 2018

This month, the FCC approved the creation of a National Reassigned Number Database to address the nearly 100,000 wireless numbers that are reassigned each day. The proposed rule will focus on third-party collectors, addressing issues such as communication practices and consumer disclosures. When will this happen?

BSA

The Payments Association

MARCH 18, 2025

It appears to address concerns that banks were pressured to deny service to digital asset businesses. Greater clarity may help address ambiguities that have contributed to inconsistent banking practices and limited access to financial servicesissues that are particularly relevant for crypto firms offering payment and settlement services.

Federal Reserve