AML Assessments Technology Risk 
Fintech News
JUNE 5, 2025
Thirdly, MAS has decided that licensed payment service providers and financial institutions, even those licensed and supervised overseas for AML/CFT compliance, cannot be treated as “third parties” under the FSM-N27 Notice. This means DTSPs are not allowed to rely on them to carry out customer due diligence.
Fintech News
OCTOBER 8, 2024
The framework is designed to ensure compliance with international standards, particularly in relation to anti-money laundering (AML) and countering the financing of terrorism (CFT). Additionally, the proposed regulatory framework includes guidelines on technology risk management and cybersecurity.
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PYMNTS
JUNE 17, 2020
According to a report in ZDNet , Westpac said that “a mix of technology and human error” and “deficient financial crime processes” were behind the financial institution’s (FI’s) lack of compliance with anti-money laundering (AML) regulations. As many as 23 million occasions, in fact. There was no evidence of intentional wrongdoing.”.
Fintech News
JANUARY 24, 2024
The move aims to protect against financial crime and loss, particularly in digital fraud, and includes broadening DPT service definitions and enhancing Anti-Money Laundering (AML) protocols such as Customer Due Diligence and transaction monitoring.
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