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 shift increases financial crime risk and erodes the efficacy of the UK’s AML and counter-terrorist financing (CTF) frameworks.

Risk 88

Risk Financial Crimes AML Financial Inclusion 88

EBizCharge

JANUARY 16, 2025

Fraud detection and risk assessment: MCCs assist fraud detection and risk assessment operations by flagging suspicious transactions. Tax reporting and compliance: MCCs aid in tax reporting and compliance with regulatory bodies like Payment Card Industry Data Security Standards (PCI DSS) and Anti-Money Laundering (AML).

Credit Cards 52

Credit Cards Processors PCI DSS Fraud Detection 52

Finextra

JULY 7, 2025

Upstart (2024) AI Application: Loan underwriting and risk assessment Experience Impacted: CX - Banking Customer Experience AI Loan Underwriting Platform: The fintech Upstart has pioneered AI-based lending, and by 2024 its platform was adopted by 500+ banks and credit unions for personal and auto loans.

AI 114

AI Fraud Detection Online and Mobile Banking Payment APIs and Integration 114

The Fintech Times

APRIL 24, 2025

Partnerships Identity platform Trulioo is partnering with PingPong , a cross-border embedded payment solution provider, to enable the cross-border firm to expand its global footprint while meeting rigorous Know Your Business (KYB) and Anti-Money Laundering (AML) compliance standards by automating verification processes.

FinTech 59

FinTech Cross-Border Payment APIs and Integration Multi-Currency 59

Finovate

JUNE 3, 2025

The company’s offering helps institutions better combat the growing sophistication of criminal networks who are able to thwart traditional rule-based anti-money laundering (AML) systems. Spayce will leverage ThetaRay’s AI-first solution to ensure regulatory compliance and scale securely.

Cross-Border Payments 52

Cross-Border Payments Cross-Border Financial Crimes Crime 52

The Payments Association

JULY 18, 2025

Next steps/action required: Conduct or update a fraud risk assessment, with documented outputs and regular review cycles. Critically, firms operating under Money Laundering Regulations (MLRs) must now secure Part 4A FSMA authorisation to continue operating legally once the transitional period ends.

Regulations 88

Regulations Payment APIs and Integration Payments Legal 88

Finextra

JULY 8, 2025

This update follows a comprehensive multi-firm review, a public consultation (GC24/4), and recent amendments to the 2017 Money Laundering Regulations. This update follows a comprehensive multi-firm review, a public consultation (GC24/4), and recent amendments to the 2017 Money Laundering Regulations.

Money Laundering 52

Money Laundering Due Diligence Risk Risk Assessment 52

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

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. Let’s get started.

Money Laundering 88

Money Laundering Compliance AML BSA 88

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

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. Other Risk Considerations. Plan for upticks in particular areas of AML compliance activity. by Claudia Huesmann.

Money Laundering 98

Money Laundering SARS Fincen Financial Crimes 98

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. Sends leverages AI to mitigate risks, comply with FCA, PSD2, and PCI DSS, and enhance client experience with secure and innovative services.

Regulatory Compliance 136

Regulatory Compliance AML Compliance PCI DSS 136

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

Neopay

JULY 18, 2024

Money laundering is a pervasive issue, affecting economies and societies worldwide. This clandestine nature makes it challenging to quantify the exact amount laundered annually. The anonymity offered by cryptocurrencies makes them attractive for laundering illicit funds.

Money Laundering 52

Money Laundering AML Cryptocurrency Crime 52

FICO

FEBRUARY 15, 2021

Eurobank , one of the four Greek systemic banks, now performs real-time AML (anti-money laundering) and KYC (Know Your Customer) checks, with automation across digital and remote channels resulting in substantial efficiency improvements. . The judges were really impressed with the banks’ ability to optimize their AML process.”.

Money Laundering 52

Money Laundering Regulatory Compliance Correspondent Bank AML 52

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

Finovate

MARCH 28, 2024

Fraud and risk platform DataVisor launched its anti-money laundering (AML) solution this week. The new offering combines fraud fighting and anti-money laundering operations in a unified, approach that helps institutions better deal with emerging threats and evolving regulations.

AML 59

AML Compliance AI Money Laundering 59

Neopay

DECEMBER 2, 2024

Those of you who were in the payments space pre-COVID, might remember my industry talks about ‘Why the World Needs Money Laundering’. A history of money laundering The concept of money laundering goes back to long before money itself existed. Even the 3 stages (placement (i.e. But it seems unlikely.

Money Laundering 52

Money Laundering Financial Crimes Crime Compliance 52

FICO

FEBRUARY 15, 2017

The focus on financial crime, and the money laundering that funds terrorist attacks and other criminal activities, has forced the industry to look for smarter approaches. Industry experts have begun to realize the significance of analytics in combatting anti-money laundering.

AML 67

AML AI SARS Money Laundering 67

Finextra

JULY 2, 2025

The consequences are devastating: money laundering threatens the integrity of the financial system, distorts competition, and strengthens criminal networks. How will the new EU Anti-Money Laundering Authority (AMLA) intensify the fight against money laundering – and what part will AI play?

Money Laundering 52

Money Laundering AI Payment APIs and Integration Cross-Border 52

The Payments Association

JANUARY 29, 2025

Inadequate risk management and due diligence : Institutions faced challenges in ensuring effective customer risk profiling and due diligence, particularly for high-risk clients and correspondent banking relationships.

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

Fintech News

MARCH 3, 2024

Cindy, who brings over three decades of experience in the compliance sector, will spearhead the company’s efforts in regulatory compliance, policy formulation and execution, risk assessment, and business advisory to support FOMO Group’s expanding operations. She has previously served as the Chief Control Officer at Bank J.

Compliance 109

Compliance AML Money Laundering Risk Assessment 109

PYMNTS

FEBRUARY 1, 2021

million fine for violating anti-money laundering (AML) regulations, The Wall Street Journal reported on Monday (Feb. The bank was recently fined in a separate charge that it failed to comply with a 2015 request by the FDIC to improve its AML compliance.

AML 60

AML FDIC Fincen Money Laundering 60

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. The post FCA issues warning to firms over AML failings appeared first on Neopay. To read a copy of the FCA’s letter to Annex 1 firms, click here.

AML 52

AML Financial Crimes Crime Risk Assessment 52

Fintech News

MAY 22, 2024

In May, Fintech Global released its inaugural FinCrimeTech50 list, recognizing the world’s leading technology companies fighting money laundering, fraud and financial crime. Founded in late 2015, the company provides regulated entities with tools to manage audit, risk, and compliance programs effectively.

Financial Crimes 100

Financial Crimes Crime APACS Risk Assessment 100

PYMNTS

OCTOBER 16, 2019

Money laundering has always troubled financial institutions, but today’s digital banking system creates additional complexities as fraudsters around the world take advantage of financial technologies. However, more than half (51 percent) characterized their AML risk assessment, specifically, as “very” or “completely” effective.

AML 49

AML Compliance Money Laundering Financial Crimes 49

The Fintech Times

JANUARY 17, 2024

Helping firms achieve this, Minerva , an anti-money laundering (AML) compliance technology provider, has launched a new channel programme to provide better accessibility to its services. The channel programme is ideal for organisations looking to resell, cosell, integrate, or refer Minerva’s AML solution to customers.

AML 59

AML Financial Crimes Crime Money Laundering 59

Seon

APRIL 11, 2024

Financial institutions worldwide are continuously evolving their strategies to combat fraud and money laundering, two threats that undermine the potential of our global financial systems. With the United Nations reporting that three to five percent of the global GDP is laundered annually and fraud costs worldwide reaching $5.13

Fraud Prevention 52

Fraud Prevention AML Money Laundering Financial Crimes 52

The Fintech Times

APRIL 26, 2024

PwC , the assurance, tax and advisory services provider, has published a new report revealing what factors impact effective anti-money laundering (AML) practices the most. In fact, many do not think they are addressing the practicalities of modern AML operations as a result of current and upcoming AML regulations.

AML 59

AML Regulations Financial Crimes Money Laundering 59

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.

AML 52

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

The Fintech Times

JUNE 19, 2024

By leveraging the Fenergo software-as-a-solution solution, First Abu Dhabi Bank hopes to speed up client onboarding and enhance its anti-money laundering ( AML ) compliance processes. This will enable First Abu Dhabi Bank to straight-through-process its low-risk customers, enhancing onboarding efficiency and minimising costs.

AML 59

AML Compliance Money Laundering Risk Assessment 59

PYMNTS

SEPTEMBER 12, 2019

Financial services providers that slack on regulatory compliance and fail to safeguard their operations against money laundering, terrorist financing and other criminal activities may face damaged reputations and significant fines. Financial sector players must guard against all forms of money laundering and other criminal activities.

Suspicious Activity Report (SAR) 75

Suspicious Activity Report (SAR) FinTech Money Laundering AML 75

PYMNTS

JUNE 20, 2019

If the risk experts aren’t feeling confident — it is hard to know how anyone else in an organization is going to. 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.

AML 66

AML Due Diligence Money Laundering Risk Assessment 66

Seon

JULY 11, 2024

trillion a year, and the current state of money laundering, which touches two to five percent of the global GDP, the financial impact of these crimes is staggering. The webinar recording – available to watch here – thoroughly examined the importance of collaboration between fraud prevention and anti-money laundering (AML) teams.

Fraud Prevention 52

Fraud Prevention AML Money Laundering Financial Crimes 52

Stax

NOVEMBER 27, 2023

That’s a lot of money being exchanged—and also provides a huge amount of possibility for financial crime. Financial crime can take on several faces, including (cyber) fraud, cryptocurrency scams, and money laundering—and companies offering financial services can lose out on serious bucks. In the U.S., trillion a year.

Due Diligence 88

Due Diligence Money Laundering AML Financial Crimes 88

Fintech Finance

AUGUST 2, 2024

Advanced Features and Capabilities Key features include support for SWIFT, SEPA, and ISO20022 payment formats, device fingerprinting, biometric authentication, real-time monitoring, and AML screening. AML Screening : Sanctions and watchlist screening, transaction pattern analysis for detecting money laundering activities.

Instant Payments 94

Instant Payments Transactions Payment APIs and Integration Compliance 94

PYMNTS

SEPTEMBER 30, 2018

1) that IdentityMind’s pioneering compliance, risk management and fraud prevention platform has integrated CipherTrace ’s digital currency risk assessment technology. IdentityMind Global announced Monday (Oct. We’re excited to partner with IdentityMind Global,” said David Jevans, CEO of CipherTrace, in the press release.

Suspicious Activity Report (SAR) 57

Suspicious Activity Report (SAR) Money Laundering Risk Assessment SARS 57