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 Payments Association

JANUARY 13, 2025

While intended to clarify ownership rights, this approach risks prolonging uncertainty as courts struggle with defining and applying new legal principles. The concern is regarding the period of adjustment and whether this leaves firms exposed to operational and compliance risks, particularly in the absence of established precedents.

Legal 88

Legal Stablecoins Cross-Border Due Diligence 88

Fintech News

JULY 10, 2025

But after repeated blowups, the motivation for stricter enforcement goes towards protecting people and, at the same time, shielding financial systems from emerging and time-critical risks. This includes performing full customer due diligence on clients onboarded before the license was obtained. What’s driving this hard stance?

Regulations 76

Regulations Due Diligence SWIFT Money Laundering 76

Neopay

APRIL 22, 2025

As regulatory and compliance specialists for payment and e-money firms, we recognise the importance for due diligence, transaction monitoring, and robust AML controls. Compliance regimes need to respond accordingly, with risk assessments that are proactive and substantive continuous monitoring.

Money Laundering 52

Money Laundering Crime Due Diligence Financial Crimes 52

Fintech Review

APRIL 19, 2025

SaaS fintech players that fail to leverage their data risk being outpaced by more adaptive competitors. SaaS fintech companies must ensure compliance, risk management, and secure infrastructure. Key regulatory areas include customer onboarding, data protection, anti-money laundering (AML), and transaction monitoring.

Finance 94

Finance FinTech Embedded Finance Payment APIs and Integration 94

The Fintech Times

JULY 9, 2025

Between October 2018 and August 2020, Monzo was found guilty of breaching Principle 3 of the FCA’s Principles of Business: a firm must take reasonable steps to ensure that it has organised its affairs responsibly and effectively, with adequate risk management systems. Since then, the company has skyrocketed, hitting 5.8

Financial Crimes 64

Financial Crimes Crime Security Online and Mobile Banking 64

Fintech News

FEBRUARY 5, 2025

By integrating with DVS, Sumsub ensures compliance with local anti-money laundering (AML) and Know Your Customer (KYC) regulations while reducing fraud and streamlining onboarding through automation. It also minimises the risk of penalties associated with non-compliance.

Verification 72

Verification Checks Security Due Diligence 72

The Payments Association

JULY 15, 2025

The goal isn’t just to detect fraud—it’s to do so without unnecessary friction points that risk damaging the customer experience. Dal Sahota Director, trusted payments, LSEG Risk Intelligence Financial Crime 360 state of the industry report 2025 findings Table of Contents I. and VP/Director/Head roles representing 43.7% of the sample.

Financial Crimes 88

Financial Crimes Crime Fraud Prevention Deepfake 88

Fintech Review

APRIL 19, 2025

SaaS fintech players that fail to leverage their data risk being outpaced by more adaptive competitors. SaaS fintech companies must ensure compliance, risk management, and secure infrastructure. Key regulatory areas include customer onboarding, data protection, anti-money laundering (AML), and transaction monitoring.

Finance 52

Finance FinTech Embedded Finance Payment APIs and Integration 52

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 creates operational risk for institutions if ownership change isn’t properly logged and reported. It expresses the views and opinions of the author.

Compliance 52

Compliance Cross-Border Payment APIs and Integration Legal 52

Finovate

JANUARY 24, 2025

In this week’s edition of Finovate Global , we caught up with Maya Shabi, Senior Risk Strategist with EverC , a firm that provides tech-driven risk management solutions for ecommerce companies. It increases the risk of data breaches, identity theft, and payment fraud.

Regulations 71

Regulations FinTech BNPL Cross-Border 71

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. A Smarter Approach to Risk Assessment The FCA reiterates that not all PEPs pose the same level of risk.

Money Laundering 52

Money Laundering Due Diligence Risk Risk Assessment 52

PYMNTS

SEPTEMBER 21, 2020

And in PYMNTS’ own coverage, the twin external forces of regulatory scrutiny and market pressures are pushing FIs to retool and strengthen their anti-money laundering (AML) efforts. The agencies offered a bit more transparency in identifying politically exposed persons to aid in AML efforts. In one example, reported on Monday (Sept.

Fincen 139

Fincen AML Suspicious Activity Report (SAR) SARS 139

Fintech News

AUGUST 1, 2024

ADVANCE.AI, a provider of digital identity verification and risk management solutions in Southeast Asia, has expanded its capabilities in Singapore and Malaysia with an upgraded Know Your Business (KYB) service. JewelPaymentech, acquired by ADVANCE.AI

Due Diligence 117

Due Diligence Money Laundering AML Verification 117

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 aim is to mitigate the risks associated with such businesses.

Service Provider 108

Service Provider Due Diligence AML Money Laundering 108

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 64

AML Risk Payment APIs and Integration Money Laundering 64

FICO

JANUARY 27, 2017

Known as de-risking, this may seem an intuitive answer to managing the risk of money laundering, but it is not without its own complexities and risks. The Financial Conduct Authority (FCA) wants to ensure that if banks and other regulated financial organisations do de-risk, it’s in a manner that is fair to customers.

AML 55

AML Risk Money Laundering Due Diligence 55

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

Stax

AUGUST 22, 2024

In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

The Payments Association

JANUARY 29, 2025

The lack of clear ownership in key compliance areas, such as transaction monitoring and risk remediation, led to delays in resolving issues. Outdated or ineffective transaction monitoring systems : Institutions relied on outdated or poorly configured transaction monitoring systems that did not keep up with evolving risks.

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

Stax

JANUARY 8, 2024

However, several complex types of risks come along with this. 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. Let’s get started.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

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.

AML 65

AML Compliance Financial Crimes Automation 65

Stax

NOVEMBER 27, 2023

Even if you’re not in the financial industry, you’ll need a payment processor or payment service provider (PSP) to start generating revenue, which means you’ll need to either have a proper risk management framework in place—or work with a PSP that has one. In the U.S., million ($47.3 million), while Goldman Sachs faced a fine of $2.9

Due Diligence 88

Due Diligence Money Laundering AML Financial Crimes 88

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

PYMNTS

MARCH 14, 2019

However, despite the friction points that can get introduced into the process due to anti-money laundering (AML) and Know Your Customer (KYC) processes, FIs have no choice but to comply, or they risk fines and loss of customer trust. Around the AML/KYC World. To stay current, FIs are investing in AML strategies.

Money Laundering 73

Money Laundering Due Diligence AML Compliance 73

Finovate

DECEMBER 2, 2024

The acquisition will provide APPC clients with a broader range of tools to fight challenges ranging from anti-money laundering (AML) to counter-terrorism financing (CTF). This collaboration has yielded flexible, customized solutions to help FIs deal with challenges ranging from anti-money laundering (AML) to counter-terrorist financing (CTF).

Compliance 105

Compliance Acquirers Money Laundering Due Diligence 105

Fintech News

NOVEMBER 20, 2024

Despite the opportunity, the B2B payments market remains vastly underserved and traditional banks are often unwilling to cater to SMEs due to low profit margins, high risks, and elevated operational costs. Risk management is another challenge. Increasing anti-money laundering (AML) regulations further add complexity.

Cross-Border Payments 131

Cross-Border Payments Cross-Border B2B Due Diligence 131

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 Fintech Times

FEBRUARY 4, 2024

In May 2023, a group of paytech representatives called on legislators to ensure a fair playing field for all fintech providers and their obligations to performing customer due diligence (CDD) as the EU anti-money laundering regulation was discussed.

AML 59

AML Payer Regulations Due Diligence 59

PYMNTS

JUNE 20, 2019

The last thing that anyone wants to hear in almost any financial organization is that the people tasked with risk management is feeling less than fully confident about their ability to actually do that job — because they aren’t sure if their data is good.

AML 66

AML Due Diligence Money Laundering Risk Assessment 66

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 111

Verification Identity Theft Due Diligence Money Laundering 111

Stax

DECEMBER 4, 2023

The US, therefore, requires financial institutions as well as financial services firms to have anti-money laundering (or AML) compliance programs in place. In this article, we’ll discuss everything you need to know about ensuring AML compliance as a payment facilitator (or PayFac). Let’s get started.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

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

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. Gig workers themselves face legal risks as a result, too, according to an Uber spokesperson. ”

Money Laundering 64

Money Laundering AML Economy SWIFT 64

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 52

AML Due Diligence Suspicious Activity Report (SAR) Risk Assessment 52

Neopay

MARCH 7, 2024

In a recent move, the Financial Conduct Authority (FCA) has taken a significant step in addressing the prevalent anti-money laundering (AML) shortcomings among Annex 1 firms. With our expertise in regulatory compliance and risk management, we offer tailored solutions to address the specific challenges faced by financial institutions.

AML 52

AML Financial Crimes Risk Assessment Due Diligence 52

FICO

JULY 25, 2016

Anti-money laundering (AML) is a good example. TJ wrote: In 2015 we acquired TONBELLER, an innovator in risk-based financial crime prevention and compliance. Here are two examples of technology FICO has developed, and for which we’ve made patent applications: Machine learning (ML) for improved AML monitoring.

AML 64

AML Money Laundering Financial Crimes Crime 64