Finovate

DECEMBER 11, 2024

ThetaRay launched GenAI Financial Crime Detection Suite. The GenAI Financial Crime Detection Suite enables financial institutions to improve AML efforts, streamline compliance, and proactively manage risk indicators. Vice President Yina Arenas.

Financial Crimes 59

Financial Crimes Crime Money Laundering Risk Assessment 59

Fintech News

JUNE 3, 2024

The Asia-Pacific (APAC) region faces significant challenges in combating money laundering due to its diverse economies, large volume of cross-border trade, and varying levels of regulatory enforcement across different countries — the trends of money laundering in Asia Pacific are constantly evolving.

Money Laundering 127

Money Laundering Financial Crimes Crime APACS 127

Neopay

APRIL 22, 2025

In a show of force for cross-agency collaboration, the National Crime Agency (NCA) has spearheaded a widespread crackdown on high street crime with Operation Machinize, focusing on barbershops and other cash-incentive businesses that are suspected of being used for money laundering and modern slavery.

Money Laundering 52

Money Laundering Crime Financial Crimes Due Diligence 52

Fintech News

OCTOBER 6, 2024

Singapore is enhancing its anti-money laundering (AML) framework with new recommendations from the Inter-Ministerial Committee (IMC). This comes after a review sparked by the high-profile money laundering case in August 2023, in which more than S$3 billion worth of assets were seized.

Money Laundering 123

Money Laundering Law Enforcement Financial Crimes Due Diligence 123

Fintech Finance

MARCH 10, 2025

Recent Datos Insights research indicates that 91% of surveyed financial institutions (FIs) are making significant or moderate investments in payment modernization. However, many still rely on legacy AML compliance systems built for fewer payment rails, most of which are not aligned with real-time settlement workflows.

Real Time Payments 75

Real Time Payments Faster Payments Transactions Money Laundering 75

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. A recent comprehensive report by Chainalysis sheds light on the intricate world of crypto-related money laundering. billion of value received in April alone.

Money Laundering 109

Money Laundering Law Enforcement AML Non-Bank 109

Finovate

JANUARY 30, 2025

What can the financial services industry do to better educate their clients about the challenge of financial crime? Before joining the financial services industry, Littlechild was a specialist in white collar crime, investigations, and compliance at Ropes and Gray.

Financial Crimes 52

Financial Crimes Crime White Collar Crime AML 52

Fintech News

JUNE 26, 2024

Lawrence Wong Prime Minister and Finance Minister Lawrence Wong announced the strategy at the Financial Action Task Force Plenary Meeting, underscoring Singapore’s commitment to bolstering its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) efforts.

AML 109

AML Money Laundering Financial Crimes Scams 109

The Fintech Times

JANUARY 21, 2025

As much as three-quarters (72 per cent) of regulated companies feel overwhelmed by current anti-financial crime compliance demands; according to the latest study by digital compliance and anti-money laundering (AML) solution provider SmartSearch.

Regulations 72

Regulations Financial Crimes Money Laundering Crime 72

Fintech Finance

OCTOBER 30, 2024

Our Distinguished Speakers line-up: Abbas Khamisa, Head of Treasury Solutions, Global Banking at MUFG Investor Services Alessandra D’Este, Senior Payments Expert, EMEA at Swift Amrit Toor, Solutions Architect at Cloudflare Andrea Moundi Savvides, Global Director of Risk and Compliance (Harneys) and Chair and Founding Member of the Cyprus Compliance (..)

Compliance 98

Compliance AML Money Laundering Payments 98

The Fintech Times

APRIL 29, 2024

In the last two decades, anti-money laundering (AML) regulatory framework, processes and mechanisms have not changed much. As a result, fraudsters are capitalising on firms’ inadequacies to spot and deal with money laundering. Is the global anti-money laundering (AML) system broken?

Money Laundering 78

Money Laundering AML SARS Financial Crimes 78

The Fintech Times

MARCH 31, 2025

As cross-border transactions grow in Europe, the cloud-based financial crime management technology solutions provider, Nasdaq Verafin has revealed that these payment channels are opening up more passageways for fraud to take place, as $194.9billion was moved across borders in 2023; more than a quarter of the total fraud figure in 2023 ($750billion).

Cross-Border 64

Cross-Border Addressing Financial Crimes Elder Abuse 64

FICO

MARCH 17, 2021

Trade-based money laundering (TBML) is a growing risk, as seemingly legitimate transactions are exploited by criminal groups to launder funds and finance terrorist activity. However to set a context, we must first answer the question – what is trade-based money laundering? This study, together with the U.S.

Money Laundering 98

Money Laundering Crime Financial Crimes Industry Trends 98

The Payments Association

NOVEMBER 25, 2024

The regulatory landscape: FCA and PSR’s roles in de-risking The Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) are pivotal in shaping the UK’s financial ecosystem. This aligns with global standards set by organisations like the Financial Action Task Force (FATF).

Risk 88

Risk Financial Crimes AML Financial Inclusion 88

FICO

MARCH 24, 2021

In part 1 of the series on trade-based money laundering (TBML) , we established a definition of the term, explored some recent studies and highlighted some typical techniques employed by the criminals. Plan for upticks in particular areas of AML compliance activity. Other Risk Considerations. Set clear and realistic priorities.

Money Laundering 98

Money Laundering SARS Financial Crimes Fincen 98

Fintech News

MAY 22, 2024

Over the past years, financial crime tech has risen to prominence, driven by increasing complexity and frequency of financial crimes, stricter regulations and compliance requirements, and technological advancements. Today, we delve into these firms’ offerings, recent strides and contributions to the field.

Financial Crimes 104

Financial Crimes Crime APACS Risk Assessment 104

Fintech Finance

OCTOBER 11, 2024

Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance programs. AML program, broadly aligned to its existing remediation program, which is progressing steadily under the direction of its new U.S. AML leadership team. Formal oversight of the AML remediation through a Monitorship. balance sheet.

AML 98

AML BSA Money Laundering Financial Crimes 98

The Payments Association

JANUARY 29, 2025

2024 brought significant regulatory action, highlighting persistent weaknesses in financial crime controls across the industry. As we enter 2025, we look back at five significant cases from 2024 and the lessons they provide for organisations aiming to strengthen their financial crime frameworks.

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

Neopay

APRIL 10, 2025

million penalty on Revolut Bank UAB the largest penalty ever for the neobank for the deficiencies in its financial crime prevention system. 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

Central Bank 52

Central Bank Money Laundering AML Financial Crimes 52

PYMNTS

SEPTEMBER 21, 2020

Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) show that several of the largest global banks moved money on behalf of scores of individuals and enterprises involved in criminal financial activity. Gross negligence – or evidence of a battle waged by banks that requires new, high-tech weaponry?

Fincen 139

Fincen AML Suspicious Activity Report (SAR) Financial Crimes 139

Finextra

FEBRUARY 13, 2025

Mastercard has launched a service in Asia Pacific, called Trace, that uses AI to identify and prevent money laundering and financial crime.

Visa 112

Visa AI Money Laundering Financial Crimes 112

The Payments Association

MARCH 25, 2025

As director/MLRO of SENDS, a UK-licensed EMI, I see AI’s potential in fraud prevention, AML, and compliance. At SENDS, we integrate AI-powered compliance tools to streamline KYC and AML, improving efficiency, accuracy, and speed. AML compliance requires risk assessment, transaction monitoring, and reporting suspicious activity.

Regulatory Compliance 136

Regulatory Compliance AML Compliance PCI DSS 136

Stax

DECEMBER 4, 2023

According to a UN report, money laundering activities of about $1.6 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% of global GDP.

Money Laundering 88

Money Laundering Compliance AML BSA 88

The Payments Association

APRIL 7, 2025

SNEAK PEE K: Unveiled: Key Financial Crime 360 findings July 16, 2024 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? The findings of the Financial Crime 360 survey, focusing on the challenges, prevalent fraud types, and strategic responses across various sectors. Why is it important?

Financial Crimes 88

Financial Crimes Crime Fraud Prevention AML 88

Fintech Finance

MAY 13, 2025

Issuer processing powerhouse Enfuce unveils the Fortitude Pledge, a bold new compliance and security standard, that aims to eliminate 100% of financial crime risks across all Enfuce-processed card transactions. Anything less than full commitment means accepting the unacceptable and that’s a compromise the industry cannot afford.

Compliance 59

Compliance Financial Crimes Global Payments Crime 59

FICO

MARCH 6, 2020

In September 2019, Fico and Visma announced their partnership to Offer SaaS Anti Financial Crime Solutions in Western Europe. I also manage the partner channels and programs for our financial crime compliance solutions. For more than two decades I have now been working in the financial services industry.

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

PYMNTS

NOVEMBER 30, 2020

CSI) is partnering with Featurespace to advance a new cybercrime solution to fight money laundering. As criminals relentlessly target financial systems, organizations require cutting-edge technology for fraud detection and risk management,” said Kurt Guenther , CSI’s group president of business solutions. “By

Money Laundering 63

Money Laundering Financial Crimes AML Crime 63

PYMNTS

OCTOBER 15, 2020

When Jumio acquired anti-money laundering (AML) solutions platform Beam last week, the move was more significant than simply adding AML strength to its onboarding platform, Jumio ’s Chief Product Officer Philipp Pointner told PYMNTS in a recent conversation. “We The Pandemic Creates A Growing AML Need.

AML 97

AML Continuity Money Laundering Authentication 97

The Payments Association

MAY 15, 2025

AI applications are increasingly being deployed to improve the scalability of payment processing, spanning areas such as financial crime screening, client risk assessments, multi-jurisdiction data-sharing, and the automated analysis of alerts and regulatory reporting.

AML 88

AML AI Financial Crimes Process 88

Finovate

FEBRUARY 3, 2025

UK-based financial crime compliance solutions company Napier AI has received a majority growth investment from Marlin Equity Partners. Financial crime compliance solutions company Napier AI has received a majority growth investment from Marlin Equity Partners. Today’s funds add to Napier AI’s existing $55.8

AI 52

AI Financial Crimes Money Laundering AML 52

Fintech News

MAY 7, 2024

Deputy Prime Minister and Minister for Finance, Lawrence Wong, discussed the potential expansion of the Monetary Authority of Singapore’s (MAS) anti-money laundering platform, COSMIC, to non-banking sectors in a recent response to a parliamentary question.

AML 109

AML Money Laundering Non-Bank Financial Crimes 109

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. The financial terms of Jumio ’s acquisition of Beam’s AML platform were not disclosed.

Financial Crimes 61

Financial Crimes AML Crime Money Laundering 61

Fintech Finance

FEBRUARY 17, 2025

Leveraging artificial intelligence (AI) technology, PhotonPay has further streamlined anti-money laundering (AML) and counter-terrorism financing (CFT) processes, enhanced its risk management system and effectively reduced financial crime risks. “Compliance is the foundation of trust in global payments.

Compliance 59

Compliance Payment Solutions Global Payments Risk 59

The Payments Association

APRIL 23, 2025

To address the money mule problem, organisations must combine elements of fraud prevention, cyber threat intelligence, and anti-money laundering capabilities. Is AML a real-time problem? It takes AML teams weeks (if not months) of diligent analysis to escalate these activities to law enforcement.

AML 88

AML Suspicious Activity Report (SAR) Addressing Fraud Prevention 88

Fintech Review

OCTOBER 1, 2024

A new focus on digital identity verification As the financial landscape continues to evolve, the importance of Anti-Money Laundering ( AML ) and Know Your Customer (KYC) processes has never been more pronounced. These protocols are integral to combating financial crime and ensure regulatory compliance.

AML 98

AML Verification Research Consumer 98

Fintech News

JULY 31, 2024

Hawk, a provider of AI-driven fraud prevention and anti-money laundering (AML) technology, has secured additional Series B funding with Macquarie Capital. This new funding aims to enhance Hawk’s international growth as demand for its AI-powered anti-financial crime technology continues to rise.

AI 107

AI Financial Crimes Fraud Prevention Security 107

PYMNTS

MARCH 15, 2019

Money laundering is a major threat in the United Kingdom , one some watchdogs say is not being taken seriously enough. While the Financial Action Task Force (FATF), an intergovernmental body that develops policies to combat financial crime, recognizes the U.K. and the philosophies that foster it. . Among the U.K.’s

Money Laundering 65

Money Laundering AML Non-Bank Regulations 65