PYMNTS

OCTOBER 11, 2018

CipherTrace noted in a report that digital currency theft has nearly topped $1 billion over the first three quarters of the year at $927 million, Reuters reported. The organization noted that digital currencies are not an effective store of value, unit of account or payment means.

Digital Currency

PYMNTS

APRIL 27, 2020

Cagney said that, for this reason, the stage may be set for an overhaul of the government’s payments status quo, quickened by innovation, and, particularly, by blockchain. Among the advantages of a blockchain ledger, he added, is the fact that parties in a transaction do not have to pay an interchange fee.

Blockchain

Fintech News

JANUARY 30, 2024

Other payment trends in Asia preceding 2024 including the rise of B2B buy now pay later (BNPL), growing prominence of central bank digital currency (CBDC), and prevalence of composable, cloud-based ‘as-a-Service’ IT architecture models have helped shape much of what we anticipate for 2024.

Payments Trends

PYMNTS

MAY 8, 2018

DMG Blockchain Solutions announced a new tool for crypto exchanges and enterprise payment platforms that facilitate cryptocurrency transactions aimed at enabling anti-money laundering (AML) and anti-fraud capabilities for users.

AML

PYMNTS

DECEMBER 11, 2020

PYMNTS December 2020 AML/KYC Tracker® done in collaboration with Trulioo probes the heightened fraud climate accompanying the mobile-digital shift, zeroing in on key aspects of prevailing in the digital fraud wars. This distrust is reflected in usage rates among businesses,” 23 percent of which don’t use automated AML processes.

Money Laundering

Fintech News

DECEMBER 11, 2023

SC Ventures, the innovation, fintech investment, and ventures arm of Standard Chartered, and Giesecke+Devrient (G+D) successfully completed a proof-of-concept (PoC) on the Universal Digital Payments Network (UDPN). Central Bank Digital Currencies must therefore be able to work together quickly, easily and securely across national borders.

CBDC

PYMNTS

AUGUST 18, 2020

The platform said that “suspicious activity” that its Sentry workforce found and examined in conjunction with Ukraine’s Cyber Police brought about the identification and detention of a purported cybercriminal group behind alleged ransomware activities and laundering of over $42 million in digital currencies during the past two years. “We

Blockchain

PYMNTS

OCTOBER 18, 2018

The global regulatory framework of cryptocurrencies and blockchain remains either fragmented, vague or simply nonexistent. However, Swiss officials recently took steps to get ahead of the regulatory uncertainty surrounding the world of blockchain, focusing on a particularly large hurdle for companies in the industry.

Cryptocurrency

PYMNTS

JANUARY 25, 2019

Chainalysis unveiled an anti-money laundering (AML) compliance solution for stablecoins called Know Your Transaction (KYT), the company said in an announcement. In other news, Robinhood got the green light to trade seven digital currencies — such as bitcoin and litecoin, among others — in New York state, Reuters reported.

Blockchain

Fintech Finance

DECEMBER 9, 2024

AGENDA HIGHLIGHTS: The Next Generation of Payments Enhancing Convenient and Secure Access to Financial Services The Next Digital Revolution Global Mobile Wallets and Super-apps Blockchain and Cryptocurrency Adoption Cross-Border Payment Innovations The Future of Financial Crime Levels of Connection – 2.0

Office of the Comptroller of the Currency

Finovate

MARCH 20, 2024

This week in Tales from the Crypto we look at the boom-induced traffic jam in crypto coin trading, new funding for a blockchain payment network in the developing world, and a pair of new crypto-friendly alums that demoed at FinovateEurope last month. Layer-1 blockchain Solana has experienced service issues as well.

Blockchain

Clearly Payments

MARCH 11, 2024

Cryptocurrency, such as Bitcoin, Ethereum, and others, operates on decentralized blockchain networks, enabling secure, peer-to-peer transactions without the need for intermediaries like banks or financial institutions. Moreover, as Canada positions itself as a hub for blockchain and cryptocurrency innovation among the startup community.

Cryptocurrency

Fintech News

JUNE 19, 2024

Be it central bank digital currencies (CBDCs), a tokenised digital Singapore Dollar, or various initiatives backed by governmental regulators, stablecoins are one of the more pivotal developments in the world of cryptocurrencies and blockchain technology. It has already arrived.”

Stablecoins

PYMNTS

OCTOBER 14, 2020

While the pandemic has accelerated the use of digital payments in general, the broader market’s understanding and embrace of the scale of digital currencies (Voyager currently facilitates 50 on its platform) remains quite slim. Establishing Trust And Confidence. But this trend toward crypto doesn’t stop there.

Treasury

Fintech News

JULY 3, 2024

In the heart of Southeast Asia, a small island nation is making giant strides in digital currencies. percent of its population owning digital assets, the city-state isn’t just participating in the crypto revolution—it’s leading it.

Financial Literacy

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. The company is headquartered in Boston, Massachusetts.

Service Provider

PYMNTS

SEPTEMBER 12, 2019

The projected 2020 cost of AML compliance across all U.S. Between 2008 and 2018, approximately $26 billion worth of fines were levied against banks for AML, KYC and sanctions noncompliance. The drivers of AML initiatives in the U.S. financial institutions (77 percent) for AML compliance. Cryptocurrency and Blockchain.

Procedures

PYMNTS

DECEMBER 9, 2020

Blockchain trade technology firm XREX has rolled out a cryptocurrency Exchange-as-a-Service (EaaS) technology called MyXchange. Sum&Substance KYC and CipherTrace AML fuels all XREX platforms, according to the post, which notes that XREX is working with TRISA.io as the FATF Travel Rule solution.

AML

PYMNTS

JANUARY 12, 2021

That flexibility is especially useful in B2B transactions where entering new markets means that suppliers and buyers may transact across borders and across currencies, where everything from compliance to tax collection issues must be considered. billion in 2024, PYMNTS reported in The FI’s Guide to Modernizing Digital Payments.

Payment APIs and Integration

FICO

DECEMBER 17, 2020

As digital currencies grow, criminals are taking advantage of the emerging technology. Anti-financial crimes regulations require banks to enact robust risk management frameworks, including extensive KYC due diligence, integrated safeguards for AML transaction monitoring, and sanctions screening. This includes $2.8

Cryptocurrency

PYMNTS

JULY 30, 2019

In a hearing titled “Examining Regulatory Frameworks for Digital Currencies and Blockchain,” the United States Senate Banking Committee heard from industry participants and analysts, with a common refrain that potential and risk are in the offing, and new regulations are needed. In crypto, only a few trust?

Digital Currency

Payments Source

OCTOBER 29, 2018

The bank, one of the few that do business with digital currency exchanges like Coinbase, has developed methods for monitoring all customers’ digital currency purchases.

Digital Currency

PYMNTS

AUGUST 5, 2019

Preecha Charoensahayanon, secretary general of the Anti-Money Laundering Office, said that while his agency hasn’t received any specific complaints about crypto, he believes that digital currencies “will be a tool of new money laundering.”. “We

Money Laundering

PYMNTS

SEPTEMBER 2, 2020

million of funds from a “wire fraud scheme” involving a so-called digital currency called OneCoin from 2015 to 2018, according to the letter. In other news, “crypto-friendly” neo-bank Cashaa has notched $5 million from blockchain investment and advisory company O1ex, according to an announcement. “As

Money Laundering

PYMNTS

JULY 1, 2020

Curv CEO Itay Malinger said in the announcement, “Despite a challenging economic climate, we’re seeing strong growth among traditional financial institutions, who require our enterprise-grade security infrastructure, robust governance engine and seamless integration with blockchain technology.”

Multi-Currency

PYMNTS

AUGUST 4, 2019

Elliptic collaborated with researchers from the Massachusetts Institute of Technology (MIT) on the data set, which was taken from 200,000 bitcoin transactions worth $6 billion — the largest set of labeled transaction data publicly available in any digital currency in the world.

Money Laundering

PYMNTS

SEPTEMBER 10, 2019

Thus far, the digital currency industry has focused primarily on developing and optimizing the technology that powers it, Mandelker noted, and there has been far too little attention on ensuring that crypto networks are not providing a haven for terrorists, fraudsters and other criminals to send and conceal funds.

Money Laundering

PYMNTS

JANUARY 7, 2019

The volatility of cryptos — and the emergence of any number of blockchain and tokenization projects through the last year — has invited fresh regulatory scrutiny of digital currencies. In Ireland, reported CryptoGlobe , the Irish cabinet has approved legislation that will bring more regulation to the sector.

Regulations

PYMNTS

AUGUST 14, 2019

The security of the financial services markets, he noted, relies on everyone being team players in the digital age and those not fully playing their positions, he noted, could be facing enforcement action in the future. Mobile Gaming And Digital Currency . This includes offering sports betting through a mobile app.”.

Fincen

PYMNTS

JUNE 18, 2019

The New Rails — The Libra Blockchain. The Libra ecosystem consists of new rails, the Libra Blockchain, built by Facebook engineers, and the introduction of a new programming language, Move, designed to make it more efficient and more secure for developers to create new payments and financial services applications that run on top of it.

Payments

PYMNTS

MARCH 10, 2017

Yet trading on Tuesday morning saw a sharp drop in the value of everyone’s favorite digital currency, from around $1,280 on Monday evening down to just over $1,207 by mid-morning Tuesday. YUNBI will work with other colleagues in China to build a healthy ecosystem of the blockchain industry.

Bitcoin

PYMNTS

JANUARY 12, 2021

That flexibility is especially useful in B2B transactions where entering new markets means that suppliers and buyers may transact across borders and across currencies, where everything from compliance to tax collection issues must be considered. billion in 2024, PYMNTS reported in The FI’s Guide to Modernizing Digital Payments.

Payment APIs and Integration

PYMNTS

JUNE 1, 2020

“Along those lines, what the [payment] networks are trying to do with network tokens and SRC [secure remote commerce] could be game changing,” said McCarthy, as they help ensure identities and the payment instruments themselves are trusted, which helps with know your customer (KYC) and anti-money laundering (AML).

Cross-Border

PYMNTS

DECEMBER 2, 2019

This would indicate that some efforts, such as know your customer (KYC) and anti-money laundering (AML), when deployed by the exchanges, are having a positive impact. The subject: how crypto and blockchain might be used by North Korea to evade economic sanctions that have been imposed on that country. citizenship.

Digital Currency

PYMNTS

APRIL 13, 2018

Earlier this month, reports surfaced that blockchain heavyweight Ripple was hitting roadblocks in its effort to list its cryptocurrency XRP on exchanges, despite reportedly offering top exchanges Coinbase and Gemini a financial incentive to allow the listing. A property? A commodity?

Cryptocurrency

PYMNTS

MARCH 12, 2018

But might there be digital offerings in the wings that will supplant the promise (and peril) of bitcoin and its digital currency brethren? But digital fiat currencies, he believes, will. Cooke argued that bitcoin and blockchain have their place and use cases in the world. The future of payments.

Faster Payments

The Fintech Times

DECEMBER 15, 2023

Innovations to overcome the current lack of transparency and control around where money is within the system will continue to emerge, enabled by the much richer data landscaped that comes with the shift to ISO20022 – especially where this data aids know your customer (KYC) and anti-money laundering (AML) compliance.

Cross-Border