Fintech Finance

OCTOBER 11, 2024

TD Bank Group (“TD” or the “Bank”) (TSX: TD) (NYSE: TD) today announced that, following several years of active cooperation and engagement with authorities and regulators, it has reached a resolution of previously disclosed investigations related to its U.S. AML leadership team. The Bank and certain of its U.S.

AML 98

AML BSA Money Laundering Office of the Comptroller of the Currency 98

PYMNTS

DECEMBER 8, 2020

Cybercriminals are constantly one step ahead of government regulators, developing new and inventive schemes faster than the authorities can quash them. Developments Around The AML/KYC Space. For more on these and other AML/KYC news items, download this month’s Tracker. percent of the global gross domestic product (GDP).

AML 104

AML Cryptocurrency Verification Money Laundering 104

Clearly Payments

NOVEMBER 13, 2024

This routing allows the processor to request authorization for the transaction from the issuing bank, which then approves or denies it based on factors like available funds and fraud checks. Routing : The payment processor routes the transaction request to the appropriate issuing bank for authorization.

Process 104

Process Processors Payments Compliance 104

Finextra

OCTOBER 2, 2024

The Financial Conduct Authority has fined Starling Bank £29 million for failings related to its financial sanctions screening.

AML 126

AML Authorization 126

Fintech Review

OCTOBER 1, 2024

A new focus on digital identity verification As the financial landscape continues to evolve, the importance of Anti-Money Laundering ( AML ) and Know Your Customer (KYC) processes has never been more pronounced. Emerging AML and KYC trends for 2024 As we move through 2024, several key trends are emerging to shape the future of AML and KYC.

AML 98

AML Verification Research Consumer 98

Fintech News

JUNE 26, 2024

Lawrence Wong Prime Minister and Finance Minister Lawrence Wong announced the strategy at the Financial Action Task Force Plenary Meeting, underscoring Singapore’s commitment to bolstering its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) efforts.

AML 109

AML Money Laundering Financial Crimes Scams 109

The Paypers

FEBRUARY 23, 2024

The Financial Conduct Authority (FCA) of the UK has initiated an investigation into Lloyds Banking Group ’s Anti-Money Laundering (AML) controls.

AML 83

AML Money Laundering Authorization 83

Fintech News

MAY 7, 2024

Deputy Prime Minister and Minister for Finance, Lawrence Wong, discussed the potential expansion of the Monetary Authority of Singapore’s (MAS) anti-money laundering platform, COSMIC, to non-banking sectors in a recent response to a parliamentary question.

AML 109

AML Money Laundering Non-Bank Financial Crimes 109

Fintech News

MARCH 12, 2025

The Monetary Authority of Singapore (MAS) has deepened its financial collaboration with Vietnam through two key agreements signed on March 12, reinforcing economic ties and fostering innovation between the two nations.

Finance 88

Finance Money Laundering Cross-Border Agreements 88

The Payments Association

NOVEMBER 25, 2024

The regulatory landscape: FCA and PSR’s roles in de-risking The Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) are pivotal in shaping the UK’s financial ecosystem. This shift increases financial crime risk and erodes the efficacy of the UK’s AML and counter-terrorist financing (CTF) frameworks.

Risk 88

Risk Financial Crimes AML Financial Inclusion 88

Payments Source

OCTOBER 14, 2020

Better dialogue between banks and authorities coupled with stronger anti-money-laundering measures could help address the suspicious activity report flaws revealed by investigative journalists.

Fincen 101

Fincen Money Laundering AML Authorization 101

PYMNTS

DECEMBER 10, 2020

This lack of identity information is compounded by the weak KYC procedures of many cryptocurrency exchanges, with a recent study finding that 56 percent of all exchanges lacked sufficient KYC processes, many of which did so on purpose to avoid complying with AML regulations. Enforcing AML/KYC Compliance At Cryptocurrency Exchanges.

AML 88

AML Cryptocurrency Money Laundering Compliance 88

Neopay

APRIL 10, 2025

This follows a 2022 penalty of 70,000 for delayed accounts and after previous attention of the UK’s Financial Conduct Authority in 2019 on AML compliance. The fine of 3.5 The cumulative record paints a picture of a company that is still developing its control environment in spite of its fast growth and global footprint.

Central Bank 52

Central Bank Money Laundering AML Financial Crimes 52

The Fintech Times

APRIL 29, 2024

In the last two decades, anti-money laundering (AML) regulatory framework, processes and mechanisms have not changed much. Alexandre Pinot , co-founder and head of innovation and strategy at Vilnius, Lithuania, headquartered AMLYZE , the AML/CFT compliance firm explains where the gaps in the current AML system are.

Money Laundering 78

Money Laundering AML SARS Financial Crimes 78

PYMNTS

FEBRUARY 4, 2019

FIs have made strides in establishing know your customer (KYC) and anti money laundering (AML) policies, but these changes are routinely challenged by emerging technology and cross-border transaction costs. A DIY Approach To AML/KYC. One of the problems that AML/KYC procedures face is lack of standardization.

AML 64

AML Money Laundering Due Diligence Fincen 64

Fintech News

OCTOBER 6, 2024

Singapore is enhancing its anti-money laundering (AML) framework with new recommendations from the Inter-Ministerial Committee (IMC). The IMC’s recommendations aim to adapt Singapore’s AML framework to counter increasingly sophisticated criminal methods.

Money Laundering 123

Money Laundering Law Enforcement Due Diligence Financial Crimes 123

PYMNTS

FEBRUARY 27, 2019

The only reform agreed upon was a minor one that would allow the European Banking Authority to increase the number of officials working on money laundering to 12 people. States have so far been against creating such an organization, even after calls for such an initiative by the European Central Bank.

Authorization 60

Authorization Money Laundering AML Financial Crimes 60

PYMNTS

JUNE 11, 2020

Social distancing restrictions implemented to curb the virus’s spread are preventing compliance professionals from obtaining physical identification documents and holding in-person meetings that typically enforced anti-money laundering/know your customer (AML/KYC) compliance. Compliance Enforcement Goes Remote With Biometrics.

AML 74

AML Legal Compliance Verification 74

Finextra

OCTOBER 11, 2024

This article was co-authored with Stacy Dubovik, ScienceSoft's Financial Technology and Blockchain R.

AML 98

AML Automation Blockchain Authorization 98

The Payments Association

JUNE 3, 2025

This misconception has shaped many CBDC proposals, which tend to replicate traditional account-based structures under the control of central authorities or delegated intermediaries. CBDCs that allow authorities to track money not only when it moves but also when it remains stationary undermine trust.

CBDC 88

CBDC Cross-Border Central Bank Cross-Border Payments 88

Fintech News

OCTOBER 8, 2024

The Monetary Authority of Singapore (MAS) has released a consultation paper , inviting public feedback on its proposed regulatory framework for Digital Token Service Providers (DTSPs). The consultation paper further details MAS’ approach to AML/CFT compliance, reporting obligations, and technology risk management.

Service Provider 108

Service Provider Due Diligence AML Money Laundering 108

PYMNTS

FEBRUARY 1, 2021

million fine for violating anti-money laundering (AML) regulations, The Wall Street Journal reported on Monday (Feb. 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. Manhasset, New York-headquartered Apple Bank For Savings will have to pay a $12.5

AML 60

AML FDIC Fincen Money Laundering 60

Finextra

JUNE 24, 2025

. ➡️ Commercial banks + infrastructure innovation (EPI-EuroPA) ➡️ Central bank money + digital inclusion (digital euro) 🔗 EPI Company Press Release: [link] 🔗 Finextra: [link] External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.

Agreements 59

Agreements Payment Networks Digital Payments Payment APIs and Integration 59

Fintech Finance

JULY 2, 2025

HitPay earned a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS) , allowing them to broaden their services to include merchant acquisition and money transfers. HitPay, trusted by over 15,000 businesses, unifies online, point-of-sale, and B2B payments into a single, integrated payment processing system.

Compliance 52

Compliance Payment Security Security Payments 52

Finextra

JUNE 25, 2025

Real-Time Compliance & AML Monitoring With faster payments come faster risks—and heightened regulatory expectations. External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. It expresses the views and opinions of the author. They’ll lead.

Fraud Detection 59

Fraud Detection AI Payments PCI DSS 59

The Paypers

FEBRUARY 1, 2022

The European Banking Authority (EBA) has launched its central database for anti-money laundering and counter-terrorist financing (AML/CFT).

Database 53

Database AML Money Laundering Authorization 53

Finextra

JULY 3, 2025

Home Announcements Security HitPay deploys Flagright security and compliance tech External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. 0 2 hours Be the first to comment External This content is provided by an external author without editing by Finextra.

Compliance 52

Compliance Security Payment APIs and Integration Authorization 52

PYMNTS

JUNE 17, 2020

million — “for failing to put adequate anti-money laundering (AML) systems and controls in place between October 2012 and September 2017,” Britain’s main bank regulator said in a news release on Wednesday (June 17). Firms should recognize that AML controls are vitally important to the integrity of the UK financial system.”.

AML 52

AML Due Diligence Money Laundering Authorization 52

Neopay

DECEMBER 18, 2023

Given the cross-border nature of financial crime, the new authority will boost the efficiency of the anti-money laundering and countering the financing of terrorism (AML/CFT) framework, by creating an integrated mechanism with national supervisors to ensure obliged entities comply with AML/CFT-related obligations in the financial sector.

Money Laundering 52

Money Laundering Authorization AML Agreements 52

FICO

OCTOBER 2, 2018

This is not the best approach to AML case management, as this example illustrates: The Swiss Financial Market Supervisory Authority (FINMA) internally maintains a "Red List" listing some 20 Swiss banks are listed that the supervisors believe are most likely to have customers who might be involved in crooked business — specifically, money laundering.

AML 58

AML Money Laundering TPS Compliance 58

Fintech News

DECEMBER 9, 2024

This proactive approach, driven by the Monetary Authority of Singapore (MAS), seeks to enhance the nation’s financial infrastructure. The global nature of cryptocurrencies presents regulatory hurdles, particularly in areas like anti-money laundering (AML) and combating the financing of terrorism (CFT).

Cryptocurrency 117

Cryptocurrency Cross-Border Consumer Protection Facilitators 117

PYMNTS

JULY 5, 2019

In March , t he head of the Financial Supervisory Authority (FSA) in Finland warned that Nordic banks involved in money-laundering scandals should be measured in their response and not withdraw from the area. We need an independent EU-wide supervisory anti-money laundering [AML] authority,” she said.

AML 58

AML Money Laundering Authorization Checks 58

PYMNTS

DECEMBER 6, 2019

million), and is a consequence of the bank not flagging suspicious transactions in time, as well as not having enough anti-money laundering (AML) oversight. When footage of the raid, which involved about 170 authorities, was released, the bank’s shares plummeted to an all-time low. The bank said it accepts the fine.

AML 52

AML Money Laundering Audit Financial Crimes 52

The Payments Association

FEBRUARY 14, 2025

Safeguarding customer funds The Financial Conduct Authority (FCA) has proposed significant changes to the safeguarding regime for payments and e-money firms. In 2025, three priorities stand out: safeguarding customer funds, expanding open banking, and preparing for stablecoin regulation.

Stablecoins 88

Stablecoins Payment APIs and Integration Regulatory Compliance Compliance 88

Fintech News

DECEMBER 22, 2024

New crypto regulations came into effect, introducing requirements relating to anti-money laundering (AML) and countering the financing of terrorism (CFT) and financial stability, and reflecting Singapores commitment to fostering innovation in the crypto and tokenization space.

FinTech 113

FinTech Cross-Border Payments Cross-Border Money Laundering 113

Fintech News

JULY 17, 2024

And contrasting with the non-crypto native space, the Hong Kong Monetary Authority (HKMA) just fined DBS Bank (Hong Kong) Limited, the HK subsidiary of DBS , a HK$10 million penalty for breaches of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). The United Arab Emirates has amended Federal Decree-Law No. (20)

Money Laundering 109

Money Laundering Law Enforcement AML Non-Bank 109

Finextra

JUNE 25, 2025

What Ukrainian Banks Should Do Now Dont wait - start adapting processes to European standards now Invest in compliance - AML/KYC procedures will become critically important Prepare teams - specialists in European regulation will be needed Develop automated currency control systems for SEPA operations This is an important step, but not a revolution.

FinTech 52

FinTech Payment APIs and Integration Cross-Border Cross-Border Payments 52