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FinCen Director On Why Casino Cooperation Is Central To Fighting Financial Crime 

PYMNTS

Cooperation in an environment that is rapidly advancing on many technological fronts was the theme when FinCEN Director Kenneth A. FinCEN expects that your casino or card club is monitoring your sports betting programs for potentially suspicious activity. This includes offering sports betting through a mobile app.”.

Fincen 65
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How to Maintain Anti-Money Laundering Compliance as a PayFac

Stax

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.

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Fenergo: Financial Firms Hit With 57% More Financial Fines in 2023 for Compliance Shortcomings

The Fintech Times

Fenergo has released their annual financial fines analysis, showcasing that penalties for failing to comply with anti-money laundering (AML), KYC, environmental, social, and governance (ESG), sanctions and customer due diligence (CDD) regulations totalled $6.6billion in 2023, up considerably from $4.2billion in 2022 and $5.4billion in 2021.

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Know Your Customer as Well as They Know You

Trade Credit & Liquidity Management

Follow the Compliance Requirements that Apply to Your Company Trade creditors (B2B vendors or exporters offering credit terms) are generally not directly regulated under financial-sector KYC/AML rules unless they operate within a regulated industry, such as finance or securities.

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Financial Crime Predictions 2021: More AI & Ransomware

FICO

Newly regulated areas such as digital assets and cryptocurrency businesses will likely undergo increased scrutiny (as companies transacting in digital assets are not exempt from AML requirements). The final rule extending AML regulatory requirements to banks lacking a federal functional regulator is just one such example.