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Finovate Global: Talking Fintech Regulation in the European Union with EverC’s Maya Shabi

Finovate

Many FIs need to significantly upgrade their payment processing systems to handle real-time transactions, which also need to uphold fraud detection and AML/CTF rules in real time. Shabi: Complying with the MiCA framework is the first thing that comes to mind when cryptocurrency and the EU are mentioned in the same sentence.

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Regulation and Compliance in Fintech: Navigating the New Financial Frontier

Fintech Review

No matter how disruptive a fintech platform is, it must operate within legal frameworks that are evolving rapidly. These include anti-money laundering (AML) rules, know your customer (KYC) checks, data privacy requirements, cybersecurity protocols, and financial reporting obligations. It is no longer enough to innovate.

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The global impact of money laundering in 2024

Neopay

NFT Money Laundering: In 2021, laundering through NFTs reached $1.377 million, a 231% increase from the beginning of the year. Europe, for example, continues to lead in the implementation of stringent AML regulations. Cryptocurrency: Chainalysis reported that $23.8