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. Open dialogue can dispel misconceptions and build mutual understanding of risk management.

Risk 88

Risk Financial Crimes AML Financial Inclusion 88

Finovate

DECEMBER 11, 2024

With the launch of its new GenAI Financial Crime Detection Suite, ThetaRay aims to enhance risk assessment, streamline operational workflows, and strengthen anti-money laundering (AML) reporting to reduce fraudulent activity, such as money laundering and terrorist financing.

Financial Crimes 59

Financial Crimes Crime Money Laundering Risk Assessment 59

Fintech News

JUNE 17, 2025

This is crucial to fighting money laundering and terrorist financing. Source: Sumsub Key issues include weak risk assessments, delayed rollout of the Travel Rule, and a lack of interoperability among compliance tools.

Compliance 97

Compliance Travel Rule Regulations APACS 97

Trade Credit & Liquidity Management

JUNE 25, 2025

In this data-driven economy, risk assessment demands more than simply evaluating whether a customer will pay their bills. To truly understand and manage credit risk today, modern companies must look beyond the basics and leverage new technologies, alternative data, and broader information sources.

Risk Assessment 52

Risk Assessment Regulatory Compliance Assessments Legal 52

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. FCA rules are expected to include enhanced obligations around financial promotions, complaint handling, creditworthiness assessments, and tailored disclosure.

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. While approval from senior management remains mandatory, it no longer has to come from the Money Laundering Reporting Officer (MLRO) specifically.

Money Laundering 52

Money Laundering Due Diligence Risk Risk Assessment 52

Fintech News

MAY 29, 2024

Singapore has released an Environmental Crimes Money Laundering National Risk Assessment (NRA), highlighting the primary threats and vulnerabilities associated with it. The NRA concludes that, given the existing controls, the risk of criminals using Singapore for environmental crimes money laundering is medium-low.

Money Laundering 113

Money Laundering Crime Risk Law Enforcement 113

Fintech News

JUNE 23, 2024

Singapore has released its updated Money Laundering (ML) National Risk Assessment (NRA) , highlighting increased risks in the digital payment token (DPT) services sector. Consequently, Singapore is closely monitoring the sector. Consequently, Singapore is closely monitoring the sector.

Money Laundering 109

Money Laundering Risk Law Enforcement Crime 109

PYMNTS

JANUARY 3, 2021

The Financial Action Task Force ( FATF ) is warning of new ways of money laundering via exports like onions, potatoes, soft fruits or expensive cars, a report from the Financial Times says. According to a risk assessment by the U.K.,

Money Laundering 97

Money Laundering White Collar Crime Crime Risk Assessment 97

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

Neopay

DECEMBER 20, 2023

Effective January 10, 2024, the Amended Money Laundering Regulations 2017 (No. 1371) will introduce notable changes in the assessment of risks associated with Politically Exposed Persons (PEPs). We ensure that PEPs are identified, assessed, and managed in strict accordance with the latest regulatory requirements.

Risk Assessment 52

Risk Assessment Money Laundering Assessments Regulations 52

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

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. Maintain a strong Tone at the Top (“Culture of Compliance”). Set clear and realistic priorities.

Money Laundering 98

Money Laundering SARS Fincen Financial Crimes 98

The Fintech Times

MARCH 27, 2024

Five people, including convicted fraudster Neale Rothera , were sentenced for their involvement in a fraud and money laundering scheme which cost banks over £500,000 earlier this week. But with the money unrecoverable, how can this type of situation be avoided in the future?

Money Laundering 93

Money Laundering Financial Crimes Crime Due Diligence 93

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? What’s the problem?

Money Laundering 78

Money Laundering AML SARS Financial Crimes 78

Fintech News

MARCH 31, 2024

The Monetary Authority of Singapore (MAS) has officially rolled out the COSMIC platform , a digital initiative aimed at bolstering the defense against money laundering, terrorism financing, and the proliferation of weapons of mass destruction.

Financial Crimes 113

Financial Crimes Crime Money Laundering Law Enforcement 113

The Paypers

FEBRUARY 12, 2024

The US Department of the Treasury has published the 2024 National Risk Assessments on money laundering, terrorist financing, and proliferation financing.

Risk Assessment 36

Risk Assessment Assessments Treasury Risk 36

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

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

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

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. . This is a first-class result of our project.”combined

Money Laundering 52

Money Laundering Regulatory Compliance Correspondent Bank AML 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

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 101

Financial Crimes Crime APACS Risk Assessment 101

The Payments Association

MARCH 25, 2025

Traditional compliance methods struggle against rising cyber threats, fraud, and money laundering, necessitating advanced solutions, such as human-driven transaction reviews and static rule-based systems. AML compliance requires risk assessment, transaction monitoring, and reporting suspicious activity.

Regulatory Compliance 136

Regulatory Compliance AML Compliance PCI DSS 136

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

The Payments Association

DECEMBER 11, 2024

Machine learning enhances this approach by processing vast datasets to identify subtle patterns and predict fraudulent activities, making real-time anomaly detection and risk assessment possible. The most successful approaches will prioritise creating frictionless user experiences without compromising security.

Fraud Prevention 88

Fraud Prevention Risk Assessment Account Takeovers Payments 88

Fintech News

MARCH 20, 2024

Fraud networks, engaging in activities like multi-accounting, money laundering, and personal data breaches, target digital platforms such as cryptocurrency exchanges, fintech applications, dating services, and online casinos. said Vyacheslav Zholudev, CTO and co-founder of Sumsub.

APACS 109

APACS Fraud Prevention Deepfake Account Takeovers 109

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

Fintech Finance

AUGUST 2, 2024

AML Screening : Sanctions and watchlist screening, transaction pattern analysis for detecting money laundering activities. Behavioral Analytics : Advanced analytics to analyze customer behavior, identify compliance risks, and provide insights into non-KYC activities using predictive modeling techniques.

Instant Payments 94

Instant Payments Transactions Payment APIs and Integration Compliance 94

Innovative Payments Association

AUGUST 29, 2024

This means that banks must adhere to federal regulations, such as the Bank Secrecy Act and anti-money laundering laws, when working with cannabis businesses. Conduct a Risk Assessment Before building a compliance program, businesses should conduct a thorough risk assessment to identify potential compliance risks.

Cannabis Banking 52

Cannabis Banking Boot Camp Compliance Money Laundering 52

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

PYMNTS

DECEMBER 14, 2020

AI can make it easier for financial institutions (FIs) to predict how likely their customers are to make timely payments and improve overall risk assessment capabilities. However, many FIs lack internal proficiency to use AI-assisted credit risk assessment for maximum effectiveness.

AI 87

AI Online and Mobile Banking Risk Assessment Credit Risk 87

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