The Payments Association

JULY 15, 2025

The significant gap between fraud concerns and AML compliance suggests that immediate transactional threats are perceived as more urgent than regulatory adherence. The substantial impact of identity fraud underscores the importance of robust know your customer procedures and identity verification systems.

Financial Crimes 88

Financial Crimes Crime Fraud Prevention Deepfake 88

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. This solution offers real-time, government-backed validation of identity documents, including passports, driving licences, and visas.

Verification 76

Verification Checks Security Due Diligence 76

The Payments Association

JULY 18, 2025

Large organisations will face criminal liability if they fail to implement “reasonable procedures” to prevent fraud committed by employees, agents, subsidiaries or other associated persons where the intent was to benefit the organisation or its clients.

Regulations 88

Regulations Payment APIs and Integration Payments Legal 88

The Payments Association

JUNE 16, 2025

Reconnection Protocols – When and How to Synchronise Compliance frameworks must define timeframes and procedures for reconciling offline transactions once a device reconnects. Regulatory Engagement – Shaping the Policy Landscape With key questions on liability, AML, and KYC unresolved, this is a pivotal moment for regulatory engagement.

Settlement 88

Settlement CBDC Payment APIs and Integration Privacy 88

The Paypers

JUNE 12, 2025

Following this announcement, the company’s expanded offering will integrate fraud prevention and AML compliance, aiming to provide teams with access to a single platform to screen and monitor customers in real-time, manage alerts, investigations, and regulatory reporting.

Money Laundering 41

Money Laundering AI AML Financial Crimes 41

Finextra

JUNE 6, 2025

Compliant exchanges implement robust Know Your Customer ( KYC ) procedures and Anti-Money Laundering ( AML ) protocols. The Commodity Futures Trading Commission (CFTC) for commodity-based cryptocurrencies. State-level money transmitter licenses. FinCEN registration as Money Services Businesses.

Cryptocurrency 72

Cryptocurrency Volume Regulatory Compliance Compliance 72

Fintech Weekly

JULY 17, 2025

While this may sound procedural, it’s a pivotal moment not just for the US, but for the global crypto ecosystem. Align your compliance practices with global AML and KYC standards. Let’s get into what the CLARITY act is, what it means for cryptocurrency, and why it still matters even if you’re not based in the USA.

Blockchain 78

Blockchain Rules Regulations FinTech 78

PYMNTS

DECEMBER 8, 2020

The December AML/KYC Tracker® explores the latest in AML/KYC developments, including the growing problem of money laundering at cryptocurrency exchanges, the transaction analysis and user verification procedures exchanges are deploying to stop launderers, and the still-extant problem of money laundering at traditional financial institutions.

AML 104

AML Cryptocurrency Verification Money Laundering 104

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

Finextra

OCTOBER 24, 2024

Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures are essential components of a ro.

Procedures 52

Procedures AML Money Laundering Compliance 52

PYMNTS

DECEMBER 10, 2020

This lack of identity information is compounded by the weak KYC procedures of many cryptocurrency exchanges, with a recent study finding that 56 percent of all exchanges lacked sufficient KYC processes, many of which did so on purpose to avoid complying with AML regulations. Enforcing AML/KYC Compliance At Cryptocurrency Exchanges.

AML 88

AML Cryptocurrency Money Laundering Compliance 88

The Payments Association

APRIL 23, 2025

Is AML a real-time problem? It takes AML teams weeks (if not months) of diligent analysis to escalate these activities to law enforcement. It takes AML teams weeks (if not months) of diligent analysis to escalate these activities to law enforcement. The answer seems to be no at first glance.

AML 88

AML Suspicious Activity Report (SAR) Addressing Fraud Prevention 88

The Paypers

APRIL 8, 2025

million from Lithuania’s central bank for deficiencies in its anti-money laundering (AML) procedures. Revolut has received a fine of EUR 3.5

AML 62

AML Money Laundering Procedures Central Bank 62

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

JUNE 11, 2020

Social distancing restrictions implemented to curb the virus’s spread are preventing compliance professionals from obtaining physical identification documents and holding in-person meetings that typically enforced anti-money laundering/know your customer (AML/KYC) compliance. Compliance Enforcement Goes Remote With Biometrics.

AML 74

AML Legal Compliance Verification 74

PYMNTS

OCTOBER 5, 2020

The latest AML/KYC Tracker® explores the use of AI to streamline anti-money laundering (AML) and know your customer (KYC) processes, changing customer expectations for bank security measures, and an in-depth look at how eCommerce platforms keep money launderers away from their storefronts. Developments Around The AML/KYC Space.

AML 56

AML Money Laundering Compliance Procedures 56

PYMNTS

SEPTEMBER 12, 2019

The projected 2020 cost of AML compliance across all U.S. Between 2008 and 2018, approximately $26 billion worth of fines were levied against banks for AML, KYC and sanctions noncompliance. The drivers of AML initiatives in the U.S. financial institutions (77 percent) for AML compliance. The Cost of Compliance.

Procedures 46

Procedures Cryptocurrency Regulations AML 46

PYMNTS

JANUARY 28, 2020

Issuers, merchants, payments service providers (PSPs) and other interested parties are closely watching developments in AML/KYC and counter terrorist financing (CTF) regulations, as governments worldwide clamp down strongly on identity scams.

AML 60

AML Compliance Money Laundering Due Diligence 60

Fi911

NOVEMBER 7, 2023

A cornerstone of this mission is the concept of “AML,” or “Anti-Money Laundering” protocols. But, what does AML entail? Why is it non-negotiable for financial institutions across the globe, and how can you ensure that your institution is compliant with all AML procedures?

AML 52

AML Compliance Money Laundering OFAC 52

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 BSA 88

Payments Dive

APRIL 25, 2022

The Office of the Comptroller of the Currency said the bank — the first crypto firm to receive a national trust bank charter in January 2021 — must overhaul its anti-money laundering program after failing to implement internal controls for customer due diligence and procedures for monitoring suspicious activity.

Office of the Comptroller of the Currency 78

Office of the Comptroller of the Currency Due Diligence Money Laundering AML 78

PYMNTS

JANUARY 27, 2020

Payment service providers (PSPs) must carefully attend to their know your customer (KYC) and know your customer’s customer (KYCC) checks, anti-money laundering (AML) strategies and other fraud prevention approaches. PSPs must ensure that onboarding procedures adequately vet new merchant clients without becoming a deterrent to joining.

AML 62

AML Service Provider Real Time Payments Money Laundering 62

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 124

Money Laundering Law Enforcement Due Diligence Financial Crimes 124

PYMNTS

JULY 10, 2020

Open banking comes in several flavors, yet its rise requires robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, Zac Cohen , chief operating officer at identity verification firm Trulioo told Karen Webster in a recent interview. Webster noted that KYC and AML procedures aren’t governed by global standards.

AML 108

AML Procedures Money Laundering Privacy 108

PYMNTS

SEPTEMBER 29, 2020

Blanco , director of the Financial Crimes Enforcement Network ( FinCEN ), said banks need to be wary of risks with cryptocurrency, according to remarks planned to be given at the ACAMS AML (anti-money laundering) virtual conference on Tuesday (Sept. FinCEN is focused on various kinds of cyber threats and cybersecurity, Blanco said.

Fincen 103

Fincen AML Money Laundering Scams 103

FICO

OCTOBER 2, 2017

I predicted last year that in 2017 financial crime compliance would break through the “cloud ceiling,” and we are certainly seeing more and more organizations deploying AML and KYC technology in the cloud. Customers can deploy our AML and KYC solutions faster, and realize faster time to value. What does this mean for our customers?

AML 56

AML Compliance Financial Crimes Crime 56

FICO

OCTOBER 2, 2018

This is not the best approach to AML case management, as this example illustrates: The Swiss Financial Market Supervisory Authority (FINMA) internally maintains a "Red List" listing some 20 Swiss banks are listed that the supervisors believe are most likely to have customers who might be involved in crooked business — specifically, money laundering.

AML 58

AML Money Laundering TPS Compliance 58

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 find out more about how we can support you business, click here.

AML 52

AML Financial Crimes Risk Assessment Due Diligence 52

Fintech News

JANUARY 10, 2024

This becomes intertwined with Anti-Money Laundering (AML) and behavior analysis in recent times. Kersey added, “Though many financial institutions are now placing heavy emphasis on AML analysis and fraud monitoring, there is room for further enhancement in existing countermeasures.

AML 122

AML Money Laundering Authentication Procedures 122

Fintech News

OCTOBER 15, 2024

HashKey Global, a licensed digital asset exchange, has teamed up with Sumsub , a global verification platform, to improve its Know Your Customer (KYC) and Anti-Money Laundering (AML) processes. The partnership aims to reduce onboarding times and enhance compliance with evolving cryptocurrency regulations.

Verification 115

Verification Fraud Detection Money Laundering Compliance 115

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

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

Seon

MAY 10, 2024

Anti-money laundering (AML) initiatives involve laws, regulations and procedures aimed at preventing criminals from masking illegally obtained funds as legitimate income. Since the global financial crisis, AML fines totaled $56 billion, with US-based financial institutions incurring $5 billion in fines for related infractions in 2022.

AML 52

AML Money Laundering SARS Suspicious Activity Report (SAR) 52

PYMNTS

MARCH 4, 2020

Bank $185 million for numerous offenses, including “willfully violating” BSA mandates for having an anti-money laundering (AML) procedure. Staff had also sent memos to LaFontaine alerting him that the AML staff was “stretched dangerously thin” because of increased SAR volumes and law enforcement inquiries.

AML 52

AML Suspicious Activity Report (SAR) Fincen BSA 52

PYMNTS

DECEMBER 11, 2020

PYMNTS December 2020 AML/KYC Tracker® done in collaboration with Trulioo probes the heightened fraud climate accompanying the mobile-digital shift, zeroing in on key aspects of prevailing in the digital fraud wars. This distrust is reflected in usage rates among businesses,” 23 percent of which don’t use automated AML processes.

Money Laundering 87

Money Laundering AML Cryptocurrency Fincen 87

PYMNTS

SEPTEMBER 10, 2019

Businesses that fail to comply with anti-money laundering (AML) and know your customer (KYC) regulations risk major regulator fines and irreparable damage to customer relationships when something goes wrong. Companies therefore must either invest in teams of AML specialists or in fraud-fighting technologies. .

Security 74

Security AML FinTech Money Laundering 74

FICO

JANUARY 8, 2018

Here were the top 5 posts of 2017 in the Fraud & Security category: AI Meets AML: How the Analytics Work. AI Meets AML: How Smart Analytics Fight Money Laundering. Powerful customer segmentation: “Traditional AML solutions resort to hard segmentation of customers based on the KYC data or sequence of behavior patterns.

AML 53

AML Posting AI Suspicious Activity Report (SAR) 53