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The role of artificial intelligence in enhancing AML and regulatory compliance in fintech

The Payments Association

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.

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Crypto Firms in Indonesia Must Rethink Their Compliance Now, Or Risk Losing Out

Fintech News

These developments were the focus of a recent webinar, “ Strengthening Your Crypto Compliance Program: Addressing AML and OJK Requirements ,” part of the Indonesia Crypto Literacy Program. News Regulatory Body, New Regulations to Adhere to? ” What happens after Travel Rule data is exchanged is equally critical.

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Beyond KYC: How Technology is Transforming the Fraud Prevention Game

Fintech News

Built around documentation verification and static data checks, these processes are essential for regulatory compliance. Remittance companies have leveraged these technologies to enhance anti-money laundering (AML) controls, identifying high-risk users at the earliest stages and reducing both fraud rates and compliance costs.

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Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures

The Payments Association

Compliance requires proactive fraud risk assessment, the implementation of preventive procedures, and a culture of accountability. This article explores the key provisions of the Act, the risks businesses must address, and the steps required to mitigate potential liabilities.

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Merchant Underwriting: What It Is, How It Works, and Why It’s Important

Stax

The merchant underwriting process helps reduce fraud (including chargeback volume), ensures compliance with regulations, and protects financial stability in the payment processing space. Key steps include application review, risk assessment, credit checks, and compliance verification.

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Cindy Ho to Lead FOMO Group’s Compliance Strategy in New Appointment

Fintech News

In her new role at FOMO Group , Cindy will be essential in advancing the company’s compliance infrastructure, ensuring adherence to the diverse regulatory landscapes of the jurisdictions in which the company operates. She has previously served as the Chief Control Officer at Bank J. Before her tenure at Bank J.

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FCA issues warning to firms over AML failings

Neopay

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. With our expertise in regulatory compliance and risk management, we offer tailored solutions to address the specific challenges faced by financial institutions.

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