FICO

JULY 25, 2016

Anti-money laundering (AML) is a good example. Like finding the relative handful of fraudulent credit card transactions in the billions that are processed daily, predictive analytics are enhancing FICO TONBELLER’s solution portfolio , which runs the gamut from anti-money laundering, to know your customer (KYC), to sanctions compliance.

AML 64

AML Money Laundering Financial Crimes Crime 64

PYMNTS

FEBRUARY 13, 2019

” Indeed, researchers have found evidence that companies are struggling to manage the growing weight of KYC, anti-money laundering (AML) and other financial regulatory compliance demands. ” However, the tactic exposes companies like Uber and Airbnb to massive KYC and AML non-compliance risks as well. ”

Money Laundering 64

Money Laundering AML Economy SWIFT 64

Finovate

NOVEMBER 6, 2024

Also this week, Crypto.com announced that it would expand its offering to include banking services, credit cards, and stock trading. The firm also plans to expand its debit card services in Latin America, the Middle East, and Africa in Q4 of this year, and to launch credit cards in the U.S.

Blockchain 64

Blockchain Cryptocurrency SWIFT Payments 64

PYMNTS

NOVEMBER 14, 2019

The problem is a global one, as firms strive to satisfy KYC and AML mandates. Many Europeans are warming up to biometrics, according to a recent AML/KYC Tracker. 28 percent: Portion of adults in European countries who say credit card and bank onboarding takes too long.

AML 43

AML Online and Mobile Banking Credit Cards Compliance 43

Stax

APRIL 3, 2025

Its the third-party service that serves as the link between the payment gateway, acquiring bank, and issuing bank or card network. It works in tandem with the customers bank or credit card provider to verify and authorize the transaction. Acquiring bank – Acts as the link between the merchant and the issuing bank.

Payment Solutions 88

Payment Solutions Payment APIs and Integration Payment Gateways Gateways 88

The Fintech Times

APRIL 24, 2025

Partnerships Identity platform Trulioo is partnering with PingPong , a cross-border embedded payment solution provider, to enable the cross-border firm to expand its global footprint while meeting rigorous Know Your Business (KYB) and Anti-Money Laundering (AML) compliance standards by automating verification processes.

FinTech 59

FinTech Cross-Border Payment APIs and Integration Multi-Currency 59

The Fintech Times

OCTOBER 12, 2024

With AirKey, Prove can take customer authentication to the next level by using the credit or debit card and smartphone as hardware authenticators, helping to protect bank customers while offering a frictionless experience.”

Authentication 52

Authentication Credit Cards Debit Card Fraud Prevention 52

The Fintech Times

APRIL 10, 2025

i2c , a global provider of banking and payment solutions, is expanding its partnership with Access Finance , a fintech innovator based in Bulgaria, to roll out the next phase of its Juzt Digital Credit Card programme in the US. Bitpanda , Europes digital assets platform, has received its MiCAR licence from Austria’s FMA.

FinTech 59

FinTech AI Non-Bank Cybersecurity 59

PYMNTS

OCTOBER 30, 2020

Compliance with oversight laws, especially those involving anti-money laundering (AML) or know-your-customer (KYC) regulations, is a perennial struggle for FIs of all sizes. Most customers bypass dealing with merchants entirely when trying to stage chargeback fraud, with 76 percent of cardholders going directly to the payment card issuer.

Automation 91

Automation Process Disputes AML 91

PYMNTS

SEPTEMBER 24, 2019

There are also a lot of illegal activities involved with wire, credit card and automated clearing house (ACH) fraud. “By FinCEN has developed and continuously updates “one of the most effective AML [anti-money laundering] and CFT [combatting the financing go terrorism] regimes in the world,” Blanco said.

Fincen 71

Fincen Account Takeovers Identity Theft Financial Crimes 71

Fintech News

OCTOBER 23, 2024

Banks are facing mounting pressure to offer seamless and convenient digital experiences while also adapting to changing regulatory frameworks surrounding know-your-customer (KYC) and anti-money laundering (AML), he said. Legacy technologies are hindering this adaptation, prompting increased investments in digital solutions.

Finance 117

Finance APACS Multi-Currency Origination 117

PYMNTS

OCTOBER 10, 2019

Today in the payments news roundup, average interest rates on credit cards are approaching record levels. Credit Card Interest Rates Rise To Near-Record Levels. Average interest rates on credit cards are coming close to record levels despite a 50-basis-point decline on a 10-year note yield.

Credit Cards 43

Credit Cards Federal Reserve Money Laundering Card Issuer 43

Clearly Payments

FEBRUARY 12, 2024

At the forefront of payment industry, particularly in credit cards, are two giants: Visa and Mastercard. Bank of America launched the BankAmericard in 1958, widely considered the first credit card available to consumers, which eventually evolved into Visa. UnionPay has 32% of the global credit card market.

Visa 105

Visa Payments Payment Networks Online and Mobile Banking 105

PYMNTS

FEBRUARY 28, 2020

Regulations, said the report, are “extremely lax” especially when it comes to Know Your Customer (KYC) and anti-money laundering (AML) efforts. Carding” is also a fraudster favorite, according to the report. This practice involves the use of stolen credit cards to make fraudulent purchases.

Money Laundering 86

Money Laundering Crime AML Cryptocurrency 86

Stax

NOVEMBER 27, 2023

From EDD and eKYC to AML to CDD, we’re going to cover everything you need to know about KYC in this article. it’s the opposite: customer due diligence is an ongoing process that is a part of the KYC requirements, which in turn is part of the broader anti-money laundering (AML) regulations set in place for financial institutions.

Due Diligence 88

Due Diligence Money Laundering AML Financial Crimes 88

PYMNTS

OCTOBER 6, 2020

Their end goal is largely the same, primarily targeting payments providers to test or use their stolen credit cards. Know your customer (KYC) and anti-money laundering (AML) measures come with their fair share of obstacles, however. Challenges in AML.

Money Laundering 65

Money Laundering AML Procedures Processors 65

PYMNTS

MARCH 13, 2017

It’s no surprise that as credit cards have increased in security, the payment hustlers have been hard at work finding other payment method avenues to fraud. They will not just grow payments, but they will steal [shares] from the traditional credit card transactions,” Frechtling pointed out. adult population.

AML 59

AML Credit Cards Payments Law Enforcement 59

Fi911

MARCH 14, 2024

This code is a key identifier in the processing of credit card transactions. It helps authenticate the merchant’s identity and route transaction data between banks, payment processors, and card networks. A MID is a unique code assigned to merchants by their acquiring bank or payment processor.

Due Diligence 105

Due Diligence Processors Fraud Detection Money Laundering 105

Clearly Payments

JANUARY 10, 2024

Transaction-Based Revenue Using Credit Card Surcharge One of the most straightforward ways for software companies to generate revenue from payment processing is by charging transaction fees. Any company that accepts credit cards for payments can charge a surcharge which would give them a new revenue stream.

Processors 105

Processors ISOs Embedded Finance Payments 105

PYMNTS

JANUARY 25, 2021

It combines the open banking platform with instant payment rails and can accelerate know your customer (KYC) and anti-money laundering (AML) processes. As instant payments continue to chip away at the dominance of credit cards, Soliman is comfortable with where his side of the business is headed. “It

Instant Payments 120

Instant Payments Push-to-Card Payments Money Laundering 120

Clearly Payments

MARCH 11, 2024

The Canadian Securities Administrators (CSA) and the Financial Transactions and Reports Analysis Centre of Canada ( FINTRAC ) have issued guidelines and regulations to ensure compliance with anti-money laundering (AML) and know-your-customer (KYC) requirements for cryptocurrency exchanges and service providers.

Cryptocurrency 104

Cryptocurrency Consumer Protection Financial Inclusion Payments 104

Finovate

AUGUST 16, 2024

The financial institution will leverage Fenergo’s transaction monitoring solution to enhance and streamline its anti-money laundering (AML) compliance operations. Central and Southern Asia India’s Axis Bank teamed up with Visa to launch its ultra-premium credit card, Primus. million in funding.

AML 64

AML Disaster Recovery Payments Non-Bank 64

PYMNTS

FEBRUARY 8, 2019

Their particular business benefits from such shifts, as the best money launderers seek out new holes in anti-money laundering (AML) defenses, and new ways to escape the notice of law enforcement and regulators. In January, for instance, news emerged that Fortnite ’s in-game currency was being used to launder money from stolen credit cards.

Money Laundering 77

Money Laundering Law Enforcement Credit Cards AML 77

The Fintech Times

SEPTEMBER 14, 2024

Fintech in Taiwan In 2019, Taiwan’s financial industry spent over $700million on fintech research and development (R&D), as well as AI, AML, biometrics, blockchain, cloud services, cybersecurity, payment and regtech solutions. Fintechs in Taiwan cover a wide range of subsectors, including crypto-focused firms WOO and Coolwallet.

Innovation 119

Innovation FinTech Payment APIs and Integration Non-Bank 119

PYMNTS

SEPTEMBER 14, 2016

13) highlighted a recent trend by organized criminals: the use of commercial cards to launder money across borders. These so-called “transnational organized crime” groups recognize B2B payments via credit card as a potential way to skirt detection from regulators. Reports by InSight Crime on Tuesday (Sept.

Money Laundering 73

Money Laundering Commercial Card Credit Cards Crime 73

PYMNTS

SEPTEMBER 24, 2020

If you’re signing up for a credit card with an issuer or choosing a buy now, pay later point of sale lender, the consumer needs to provide enough proof of their identity so that the wallet can admit them into their ecosystem," he explained.

APACS 98

APACS Risk Online and Mobile Banking Verification 98

PYMNTS

OCTOBER 10, 2018

Fortytwo Data, which offers an anti-money laundering (AML) platform, said money laundering is a growing problem across Europe. For its part, Fortytwo Data noted that FinServ firms must embrace AML technology. In one example, think of a supermarket that makes high-value transactions from merchants across the border … using a card.

Money Laundering 51

Money Laundering AML Crime Financial Crimes 51

PYMNTS

JUNE 23, 2020

Card-based payments do not hold broad appeal in China, for example, where 86 percent of all consumers pay using digital wallets , such as Alipay or WeChat Pay. The combination of these technologies can then be used to facilitate cross-border payments that process exchange rate differences and AML/KYC screening standards automatically.

Cross-Border 65

Cross-Border Payment APIs and Integration Cross-Border Payments Payments 65

FICO

JUNE 23, 2022

In fact, I believe that one of the biggest challenges in coping with all that data, particularly when analyzing fraud and anti-money laundering (AML) problems, is rationalizing all the different formats. With credit card, deposit accounts and other areas growing, the different data formats and schemas make that really hard.”.

Financial Crimes 52

Financial Crimes Crime AML Fraud Detection 52

The Payments Association

MARCH 14, 2025

Merchant category codes (MCCs) are four-digit numeric codes assigned by credit card networks, including Visa, Mastercard, American Express, and Discover. These codes classify businesses based on the products or services they provide. These rules help prevent fraud, identity theft, and illicit transactions.

Risk 88

Risk Processors Disputes Fraud Detection 88

FICO

APRIL 8, 2021

As it turns out, money isn’t the only thing that can be muled — merchandise bought with stolen credit card information can be “laundered” through unsuspecting victims, too. My latest fraud video captures my recent conversation with Jesse Gossman , a South Florida police detective and president of Bottom Line Fraud Consulting.

Law Enforcement 72

Law Enforcement Scams Crime Credit Cards 72

Seon

SEPTEMBER 14, 2023

A “high-risk source of application” is a label assigned by risk management teams to flag potentially fraudulent applications for financial services, such as credit cards or loans. For instance, an Iranian or Russian IP may be flagged by automated AML systems. What Does High-Risk Source of Application Mean?

Risk 52

Risk Money Laundering Suspicious Activity Report (SAR) AML 52

FICO

MARCH 24, 2021

The key success factor will be to be able to capture the application data in a digitally innovative way and to decision the applications almost instantly with low friction but with an adequate KYC, AML and application fraud control. Hence the data ingestion process must be capable of processing large volume of data.

Credit Cards 59

Credit Cards Volume Process Fed 59

Seon

MAY 28, 2024

The importance of robust fraud prevention and anti-money laundering (AML) solutions in the iGaming sector cannot be overstated. There is an opportunity to boost profitability by refining fraud prevention and AML efforts. Despite advancements, considerable untapped potential remains to enhance operational strategies within the industry.

Security 52

Security Bots Fraud Prevention AML 52

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.

Service Provider 98

Service Provider Cryptocurrency Payments Institute Blockchain 98

FICO

SEPTEMBER 6, 2021

Adam: This diagram captures a standard process flow for credit originations. It’s a generalized flow that could be for an application for a new credit card at a bank, a new phone at a mobile service provider, a car loan or many other types of credit. Doug: That’s a pretty complex diagram! Please explain.

Financial Crimes 52

Financial Crimes Online and Mobile Banking Wires Wire 52

Segpay

OCTOBER 18, 2023

Funnel accounts : Legal businesses that accept credit card charges from multiple companies that do not have their own merchant payment account because they are either too small or they engage in illicit transactions. The funnel company enters these payments as legitimate transactions into the card payment processing system.

Transactions 52

Transactions Due Diligence Money Laundering Legal 52