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Build vs buy? Strategic decisions in financial crime management

The Payments Association

Whether financial institutions should build or buy financial crime management systems. As Financial crime grows increasingly complex, payment leaders face a critical choice: build an in-house financial crime management (FCM) solution or buy an established third-party system. Why is it important? What’s next?

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

The Payments Association

Economic Crime and Corporate Transparency Act examined: A guide to avoiding the failure-to-prevent fraud offence February 6 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? Too often, we see well-intentioned legislation being undermined by weak implementation and lack of accountability.

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Tackling Fraud and Compliance Burdens: CFIT Publishes Digital Company ID Blueprint

The Fintech Times

To help organisations ensure they are not losing revenue and improving their efficiency, security and trust, The Centre for Financial, Innovation and Technology (CFIT) has published its blueprint for fighting economic crime through its Digital Company ID.

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ISO20022: The big shift to structured addresses

Finextra

Structure will bring clarity and precision to payments, improving financial crime compliance, sanctions screening, and processing speed. External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. It expresses the views and opinions of the author.

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Monzo slapped with £21 million fine for AML failings

Finextra

The UK's Financial Conduct Authority has fined neobank Monzo £21,091,300 over its "inadequate" anti-financial crime systems and controls that were in place between October 2018 and August 2020

AML 69
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MAS Fines Five Payment Firms S$960,000 Over AML/CFT Control Failures

Fintech News

The Monetary Authority of Singapore (MAS) has imposed a total of S$960,000 in composition penalties on five licensed Major Payment Institutions (MPIs) for breaching anti-money laundering and countering the financing of terrorism (AML/CFT) regulations.

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Unveiling digital fraud: A deep dive into scam trends and crime prevention in the UK payment sector

The Payments Association

Industry players (banks and smaller payments players) must continue collaborating on typologies and prioritising detection and awareness campaigns" Jessica Cath Partner, Financial Crime, Thistle Initiatives "As banking security improves, criminals shift tactics, targeting the weakest linkpeople.

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