The Payments Association

JULY 15, 2025

Embedding Trusted AI and continuous ID verification is critical to counter synthetic media threats. The significant gap between fraud concerns and AML compliance suggests that immediate transactional threats are perceived as more urgent than regulatory adherence.

Financial Crimes

The Fintech Times

JULY 9, 2025

Nonetheless, Monzo has an opportunity to show other firms how to ensure anti-money laundering (AML) can be done correctly now. If Monzo has truly rebuilt its compliance infrastructure, there’s every reason to believe it can lead the sector in doing AML the right way.

Financial Crimes

Fintech Review

APRIL 19, 2025

Key regulatory areas include customer onboarding, data protection, anti-money laundering (AML), and transaction monitoring. This includes due diligence, auditing, and shared responsibilities with financial institutions. A security lapse, system outage, or compliance failure can destroy a platforms credibility overnight.

Finance

Neopay

JULY 30, 2025

Enhanced Due Diligence (EDD) The risk factors for EDD will remain, with clearer guidance provided through collaboration with supervisors and industry bodies. Regulated entities will continue to be required to apply EDD based on geographic risk factors, as per Regulation 33(6)(c).

Money Laundering

The Payments Association

JULY 18, 2025

Payments regulation roadmap: Q3 2025 18 July 2025 by Payments Intelligence Introduction Regulatory developments continue apace in the payments industry, ushering in a period of intensified complexity and strategic significance. Culture and accountability must evolve, too, so that resilience is clearly embedded in key business functions.

Regulations

Finextra

AUGUST 4, 2025

For instance, firms in EMEA spent $85 billion on AML efforts in 2023 and compliance can average ~19% of a financial firm’s annual revenue. Beneath the surface lie “hidden” costs of AML compliance that often go overlooked on the balance sheet but significantly drag down efficiency and growth. of IT budgets in that period).

AML

Finextra

JULY 9, 2025

In anti-money laundering (AML) and customer due diligence regimes, Source-of-Wealth (SoW) traceability is now a discrete requirement. This is not legal advice automation—it’s digital continuity design. This demands continuous record-keeping, not just one-time declarations.

Compliance

Finovate

JANUARY 24, 2025

Many FIs need to significantly upgrade their payment processing systems to handle real-time transactions, which also need to uphold fraud detection and AML/CTF rules in real time. Although its been in development for several years, key compliance deadlines took effect in 2024 and will continue through 2025.

Regulations

Fintech Weekly

JULY 17, 2025

And second, the lack of clear limitations on SEC authority, which, according to some stakeholders, leaves the door open for continued enforcement ambiguity. Align your compliance practices with global AML and KYC standards. To many in the space, that feels like déjà vu. And firms that act early will have an edge.

Blockchain

Finextra

JULY 8, 2025

The aim is to reinforce a risk-sensitive and proportionate approach to Enhanced Due Diligence (EDD) obligations, particularly when dealing with domestic PEPs, their family members, and close associates. The guidance also clarifies that former PEPs must continue to be treated as such for a period of 12 months after leaving office.

Money Laundering

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). The consultation paper further details MAS’ approach to AML/CFT compliance, reporting obligations, and technology risk management.

Service Provider

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

PYMNTS

SEPTEMBER 23, 2019

Financial crimes risk management software company Quantifind and Oracle Financial Services have teamed up to improve anti-money laundering (AML) compliance and to add intelligence and automation properties directly into the compliance workflows, according to a release. “We are excited to announce our collaboration with Oracle today.

AML

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

The Payments Association

JANUARY 29, 2025

Common themes Analysis of these regulatory fines highlights four persistent weaknesses that continue to challenge the industry: Inadequate governance, accountability and culture: Ineffective governance and fragmented leadership often resulted in unaddressed vulnerabilities.

Financial Crimes

PYMNTS

JUNE 20, 2019

But flipping through the latest edition of the PYMNTS AML/KYC Tracker, in collaboration with Trulioo , there is a lot of data to suggest that this is the situation in an awful lot of organizations. If the risk experts aren’t feeling confident — it is hard to know how anyone else in an organization is going to.

AML

The Fintech Times

AUGUST 9, 2024

AU10TIX , the identity verification and management firm, has unveiled a new anti-money laundering (AML) solution, in a move to help businesses ensure a safer approach to risk mitigation. By providing a one-stop shop for all identity verification and AML compliance needs, AU10TIX ensures businesses can operate securely and efficiently.

AML

Fintech News

JUNE 19, 2024

Sumsub’s platform will enable banks to streamline user onboarding, perform anti-money laundering (AML) screenings, verify business clients, and monitor transactions for fraud with the option to adopt and manage all features through a single platform. We are pleased to partner with Sumsub, following a rigorous due diligence process.

Compliance

Stax

DECEMBER 4, 2023

With the global economy moving online, corruption, fraud, trafficking, and other illicit activities continue to rise. The US, therefore, requires financial institutions as well as financial services firms to have anti-money laundering (or AML) compliance programs in place. trillion took place in 2020, accounting for about 2.7%

Money Laundering

Fintech News

NOVEMBER 20, 2024

This upward trend continued in 2024. Increasing anti-money laundering (AML) regulations further add complexity. Regulators only require ‘due diligence,’ but the definition of what constitutes adequate due diligence can vary.” In 2023, foreign direct investment (FDI) from China to ASEAN amounted to US$17.3

Cross-Border Payments

Neopay

JULY 4, 2024

With the change in the anti-money laundering (AML) supervisory approach of the Financial Conduct Authority (FCA), many firms are nervous about whether they will face FCA scrutiny and what to expect if they do. He has shared his insight and experience to assist firms with the changes to the FCA’s approach to AML supervision. No problem.

AML

Segpay

NOVEMBER 26, 2024

Compliance with Regulations : Many industries, especially financial services, are subject to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, which mandate the verification of customers’ identity to prevent illegal activities like money laundering, terrorism financing, and tax evasion.

Verification

FICO

DECEMBER 6, 2019

The 2018 FATF mutual evaluation report of UK anti money laundering (AML) practices highlights a problem that to many is still surprising – when you set up a business in the UK, very little is done to establish the identity of the owners of that business, whether those are individuals or other businesses.

AML

Fintech News

JULY 17, 2024

The HKMA concluded that the bank failed to continuously monitor business relationships, conduct enhanced due diligence in high-risk situations for a period, and maintain proper records for some customers. The United Arab Emirates has amended Federal Decree-Law No. (20)

Money Laundering

Seon

MAY 10, 2024

Anti-money laundering (AML) initiatives involve laws, regulations and procedures aimed at preventing criminals from masking illegally obtained funds as legitimate income. Since the global financial crisis, AML fines totaled $56 billion, with US-based financial institutions incurring $5 billion in fines for related infractions in 2022.

AML

Fintech News

MAY 22, 2024

Asset managers, banks, auditors, exchanges and others can use the product as a due diligence tool to help filter for suspicious accounting, fraud in the accounts and weak corporate governance. Founded in late 2015, the company provides regulated entities with tools to manage audit, risk, and compliance programs effectively.

Financial Crimes

Seon

APRIL 11, 2024

Financial institutions worldwide are continuously evolving their strategies to combat fraud and money laundering, two threats that undermine the potential of our global financial systems. Moving in the other direction, fraud teams can leverage traditional AML information to create more robust and refined risk rulings.

Fraud Prevention

PYMNTS

OCTOBER 13, 2016

Madhu explained that there are two segments of KYC — customer due diligence and enhanced due diligence. Customer due diligence covers the steps a business must take to identify and verify a consumer that is interacting with them digitally.

Compliance

FICO

FEBRUARY 14, 2017

In yesterday’s post, my colleague TJ Horan introduced the topic of artificial intelligence being applied to anti-money laundering (AML). Based on the categorization, the right level of due diligence is being applied, with riskier customers getting more due diligence. But it’s still too high.

AML

Seon

JUNE 29, 2023

KYT is an anti-money laundering (AML) and counter-terrorist financing (CTF) requirement. As an AML and CTF operation, Know Your Transaction complements the process of Know Your Customer (KYC) by focusing on which transactions people are making, as opposed to just who is making them. Ask an Expert What Does KYT Mean for AML Compliance?

Transactions

Fintech News

FEBRUARY 18, 2024

The platform’s capabilities—ranging from ID Verification, Liveness and Face Match, to PoA and Ongoing AML Monitoring—were instrumental in transforming dtcpay’s operational landscape. This flexibility, alongside advanced features and constant AML monitoring has been central to dtcpay’s efforts to streamline its operations.

Verification

Stax

AUGUST 22, 2024

Thorough due diligence, technology, and adherence to regulatory guidelines are essential in a PayFac’s risk management strategy. Implementing an effective risk management framework can help you minimize the impact of potential threats, ensure business continuity, and recover quickly in the face of adversity.

Risk Management

The Payments Association

MAY 9, 2025

Yet the sector continues to face scrutiny over its vulnerability to financial crime. million for persistent failures in AML controls, including deficiencies in correspondent banking due diligence and transaction monitoring. Recent enforcement actions & typologies Regulators are beginning to act.

Correspondent Bank

Neopay

OCTOBER 3, 2024

Financial crime controls, such as anti-money laundering (AML) systems and sanctions screening, were not updated or strengthened to handle the complexities of a larger, more diverse customer base. Key takeaway : If your business deals with high-risk clients, it’s crucial to implement enhanced due diligence procedures.

Financial Crimes

Stax

JANUARY 8, 2024

Not only must PayFacs safeguard themselves and their clients against potential threats like fraud or cybersecurity breaches but also ensure PCI compliance , customer due diligence, and adherence to card regulations. However, to implement an effective AML system, it is important to have effective KYC controls in place.

Risk Management

PYMNTS

MARCH 14, 2017

As banks and payments companies endeavor to meet anti-money laundering (AML) regulations to avoid hefty fines for non-compliance, easily identifying customers in the digital channel becomes paramount to their success. Why Good Processes Alone Can’t Make AML Stick. In the U.S. Which is why, Clark said, it’s time for a change.

AML

Seon

SEPTEMBER 23, 2024

Compliance with anti-money laundering (AML) regulations is now a legal obligation. Payment screening helps ensure transactions comply with AML laws and international sanctions, protecting financial institutions, fintechs, payment providers, and igaming companies from fines and legal issues.

Suspicious Activity Report (SAR)