Clearly Payments

MARCH 11, 2024

In recent years, the rise of cryptocurrency has redefined traditional notions of currency and payment systems worldwide. 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.

Cryptocurrency 104

Cryptocurrency Consumer Protection Financial Inclusion Payments 104

Fintech News

DECEMBER 9, 2024

Rather than shying away from the complexities of the digital asset revolution, the city-state is actively embracing the potential of tokenisation and cryptocurrencies. 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

Fintech News

MARCH 24, 2025

Cryptocurrency fraud is declining in Asia-Pacific (APAC), driven by advanced technology adoption and stricter regulatory oversight. According to a new report by Sumsub, crypto fraud rates declined by a remarkable 23% between 2023 and 2024, positioning APAC as a leader in combating crypto fraud. in 2023 to 2% in 2024.

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APACS Verification Fraud Detection Money Laundering 87

Payments Source

APRIL 25, 2018

When regulators recognize ICOs as securities offerings, they will likely require issuers to fully comply with standard Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, increasing compliance pressure, according to Ron Teicher, CEO of EverCompliant.

Money Laundering 98

Money Laundering Issuers Cryptocurrency AML 98

PYMNTS

OCTOBER 21, 2018

The Financial Action Task Force (FATF) announced that it will get one step closer to creating international standards for cryptocurrency when it launches its first set of rules in June of 2019. Last year, the U.K. And earlier this year it was revealed that the U.S.

AML 79

AML Money Laundering Bitcoin Regulations 79

PYMNTS

MARCH 25, 2019

Consider the fact that, as noted in the most recent AML/KYC Tracker produced as a collaboration between PYMNTS and Trulioo , money laundering is estimated by the United Nations Office on Drugs and Crime to be an $800 million to $2 trillion-per-year problem, equivalent to 2 percent to 5 percent of the global GDP. The numbers are sobering.

AML 78

AML Financial Crimes Money Laundering Crime 78

PYMNTS

DECEMBER 9, 2020

There are currently more than 5,500 different cryptocurrencies in circulation, but the biggest name in the business — and often a metonym for the industry itself — is bitcoin. Ongoing monitoring of existing accounts is also necessary to ensure that cryptocurrency exchanges like BitGo are continuously compliant with AML regulations.

Money Laundering 66

Money Laundering Cryptocurrency AML Bitcoin 66

Stax

JANUARY 23, 2025

Ensure regulatory compliance by adhering to anti-money laundering (AML) laws and Know Your Customer (KYC) requirements. Step 4: KYC and AML Checks Compliance officers or automated systems integrated with KYC and AML verification services verify the identity of business owners and ensure compliance with anti-money laundering regulations.

Underwriting 68

Underwriting PCI DSS Money Laundering Processors 68

Fintech News

JUNE 3, 2025

The agency said this action should serve as a warning to other digital currency exchanges that fail to comply with Australias anti-money laundering and counter-terrorism financing (AML/CTF) obligations.

ATM 64

ATM Money Laundering Scams Digital Currency 64

PYMNTS

JANUARY 28, 2020

10, with new regulations for cryptocurrencies, wallets and exchanges. Issuers, merchants, payments service providers (PSPs) and other interested parties are closely watching developments in AML/KYC and counter terrorist financing (CTF) regulations, as governments worldwide clamp down strongly on identity scams.

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AML Compliance Money Laundering Due Diligence 60

Fintech News

JULY 2, 2025

Digital wallets and cryptocurrencies are two of the most targeted channels for fraud this year, according to SEON’s 2025 Digital Fraud Outlook , making the stakes higher than ever. This surge brings with it opportunity and the heightened risk of fraud.

Fraud Prevention 103

Fraud Prevention Technology Checks Risk 103

Fintech News

APRIL 28, 2025

Crypto exchange OKX has introduced OKX Pay, a new feature within its app designed to make cryptocurrency payments and self-custody more accessible. OKX Pay incorporates compliance features such as know-your-customer (KYC) verification, anti-money laundering (AML) controls, and multisignature security protections.

Web 3.0 64

Web 3.0 Stablecoins Money Laundering Payments 64

Finovate

NOVEMBER 6, 2024

The partnership will enable users of Ingenico’s platform globally to accept payments in cryptocurrency. ” The partnership between Fenergo and Boerse Stuttgart Digital will speed the onboarding of banks, brokers, and asset managers ready to launch their own cryptocurrency and digital asset offerings. .”

Blockchain 65

Blockchain Cryptocurrency SWIFT Payments 65

Fintech News

JULY 17, 2024

The rapid ascent of cryptocurrency has ushered in a new era of financial innovation, but it has also created novel challenges in combating financial crime. These services blend the cryptocurrencies of many users together, making it difficult to trace the origin of funds. Usage of mixers peaked in 2022, with over US$1.5

Money Laundering 109

Money Laundering Law Enforcement AML Non-Bank 109

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 66

AML Due Diligence Money Laundering Risk Assessment 66

PYMNTS

SEPTEMBER 29, 2020

Blanco , director of the Financial Crimes Enforcement Network ( FinCEN ), said banks need to be wary of risks with cryptocurrency, according to remarks planned to be given at the ACAMS AML (anti-money laundering) virtual conference on Tuesday (Sept. FinCEN is focused on various kinds of cyber threats and cybersecurity, Blanco said.

Fincen 103

Fincen AML Money Laundering Scams 103

Fintech Finance

DECEMBER 13, 2024

Helios , a leading global workforce management and payments platform, announces the launch of its cryptocurrency payroll funding solution in January 2025. The capability also prioritizes robust security and compliance, adhering to strict Know Your Customer (KYC) verification and Anti-Money Laundering (AML) standards through trusted partners.

Payroll 98

Payroll Process Cryptocurrency Money Laundering 98

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 87

Money Laundering AML Cryptocurrency Fincen 87

PYMNTS

OCTOBER 13, 2020

And, while terrorist use of cryptocurrency is still evolving, certain terrorist groups have solicited cryptocurrency donations running into the millions of dollars via online social media campaigns.”. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year.

AML 82

AML Fincen Cryptocurrency BSA 82

PYMNTS

SEPTEMBER 29, 2020

Jumio , known for its suite of artificial intelligence (AI)-powered identity verification and online know your customer (KYC) products, is beefing up its anti-money laundering (AML) powers. Another key component of the platform is helping companies manage various KYC and AML regulations in different jurisdictions across the world.

Financial Crimes 61

Financial Crimes AML Crime Money Laundering 61

The Payments Association

MARCH 19, 2025

Notably, the rise of cryptocurrencies, stablecoins, and Central Bank Digital Currencies (CBDCs) are transforming the digital payments landscape. AML (anti-money laundering) compliance complexities, as digital asset transactions are often pseudonymous and cross borders instantaneously.

Cross-Border 88

Cross-Border Reconciliation Compliance Payments 88

Payments Source

JUNE 11, 2018

Since addresses are recorded in the blockchain, it is possible to trace each transaction where the address was used, which aids in AML, according to Ron Teicher, CEO of EverCompliant.

Blockchain 148

Blockchain AML Addressing Transactions 148

PYMNTS

APRIL 29, 2020

The volatility of cryptocurrencies and their existence in what’s often a grey area of regulatory compliance make businesses operating in this sector an unattractive target for traditional financial institutions. ius noted, this is often because the heart of the cryptocurrency industry is often at odds with the nuances of regulation.

Cryptocurrency 113

Cryptocurrency Cross-Border Compliance AML 113

PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. The projected 2020 cost of AML compliance across all U.S. The drivers of AML initiatives in the U.S. financial institutions (77 percent) for AML compliance.

Procedures 46

Procedures Cryptocurrency Regulations AML 46

PYMNTS

JULY 21, 2020

Crypto boosters have spent the better part of the past decade promoting the idea that great fiat-currency disruptions are coming care of blockchain and literally hundreds of thousands of variations of cryptocurrency circulating in the world today. Or at least they didn’t until now. Crypto’s Path To Spendability.

Visa 127

Visa Cryptocurrency Blockchain Bitcoin 127

PYMNTS

DECEMBER 18, 2019

A new form of cryptocurrency, called Saga, launched this week , with an eye toward answering some of the looming questions about the form. Like Libra , which has yet to be launched, Saga attempts to smooth over the issues with bitcoin, such as reducing the wild price swings and anonymity that have plagued the world’s biggest cryptocurrency.

AML 52

AML Checks Federal Reserve Cryptocurrency 52

Fintech News

JUNE 3, 2024

The report, titled “Top Trends Shaping Anti-Money Laundering in Asia-Pacific in 2024”, delves into the key trends, technology adoption, and regulatory imperatives shaping the anti-money laundering (AML) market in APAC. Blockchain analysis firm Chainalysis estimates that money laundering activity involving cryptocurrency totaled US$22.2

Money Laundering 126

Money Laundering Financial Crimes Crime APACS 126

Finextra

MAY 9, 2024

Cryptocurrency exchange Binance has been fined C$6 million by Canadian authorities for violating money laundering and terrorist financing laws.

Money Laundering 72

Money Laundering AML Laws Cryptocurrency 72

Payments Source

MAY 17, 2018

For cryptocurrency entrepreneurs in particular, many of whom are just developing the anti-money laundering programs they are required to have under other FinCEN rules, the CDD rule is worth taking note of, writes Laurel Loomis Rimon, senior counsel at O'Melveny & Myers LLP.

Fincen 71

Fincen Cryptocurrency Regs Money Laundering 71

PYMNTS

OCTOBER 14, 2020

The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. This in the wake of the OCC’s Sept.

Treasury 129

Treasury Cryptocurrency Stablecoins Fincen 129

FICO

DECEMBER 17, 2020

Cryptocurrency exchange rates have skyrocketed in the past month. According to a recent report , the total of cryptocurrency related frauds and thefts stands at a staggering $7.69b. At the same time, all top US banks now have customers transacting in cryptocurrency through virtual asset service providers (VASP’s).

Cryptocurrency 52

Cryptocurrency Risk Financial Crimes Crime 52

Fintech Review

APRIL 10, 2025

billion in cryptocurrency stolen in February 2025, has heightened concerns around vulnerabilities in routine transfers, showing how sophisticated attacks can bypass commonplace security measures. The Bybit hack, which saw nearly $1.5

Bitcoin 52

Bitcoin Transactions OFAC Verification 52

Fintech News

JULY 10, 2025

A desire to protect Singapore’s status as a trusted financial hub, possibly also in the wake of crypto challenges that hit closer to home, like the collapse of Three Arrows Capital’s cryptocurrency hedge fund and Terraform Labs’ fall , too. Exchanges must start thinking less like tech startups and more like financial institutions.

Regulations 70

Regulations Due Diligence SWIFT Money Laundering 70

PYMNTS

MARCH 4, 2020

Bank $185 million for numerous offenses, including “willfully violating” BSA mandates for having an anti-money laundering (AML) procedure. Staff had also sent memos to LaFontaine alerting him that the AML staff was “stretched dangerously thin” because of increased SAR volumes and law enforcement inquiries. The OCC also warned U.S.

AML 52

AML Suspicious Activity Report (SAR) Fincen BSA 52

PYMNTS

OCTOBER 18, 2018

The global regulatory framework of cryptocurrencies and blockchain remains either fragmented, vague or simply nonexistent. Late last month, SEBA Crypto, a Swiss startup, raised $103 million to establish a bank that offers cryptocurrency-related financial services, Reuters reported. “Time is pressing,” he said.

Cryptocurrency 85

Cryptocurrency Blockchain AML Money Laundering 85

PYMNTS

DECEMBER 29, 2020

Whether it’s simple online purchases or banking, or more complex areas like cryptocurrency or money laundering, Trevor Wingert , a senior know your customer (KYC) and anti-fraud solutions consultant for GeoGuard , told PYMNTS that rapidly changing use cases and technology highlight gaps in the current security approaches being used.

AML 108

AML Money Laundering Compliance Law Enforcement 108

PYMNTS

NOVEMBER 30, 2020

WatchDOG AML is a “holistic” anti-money laundering (AML) offering that works to prevent financial crime by “identifying suspicious activity in real time with an enterprise transaction monitoring system,” according to the firms. CSI, Featurespace Team up to Fight Money Laundering. Computer Services, Inc.

AML 59

AML Money Laundering Non-Bank Liquidity Management 59