The Fintech Times

JUNE 25, 2025

Understanding Kenya’s SEZ ecosystem Omining’s entry into Kenya comes as global technology players, including Microsoft , expand into the country’s SEZ framework, with Google and Amazon reportedly completing due diligence for future presence in the region.

Due Diligence 82

Due Diligence Cryptocurrency On-Demand Participant 82

FloQast

MAY 2, 2024

and an accomplished author, season one takes a deep dive into the life and crimes of Dawn J. Listeners gain valuable lessons in ethics, due diligence, and professional skepticism, making it a compelling exploration for finance professionals. You can earn CPE as you listen.

Crime 105

Crime Due Diligence Advisors Agreements 105

Fintech News

OCTOBER 8, 2024

The Monetary Authority of Singapore (MAS) has released a consultation paper , inviting public feedback on its proposed regulatory framework for Digital Token Service Providers (DTSPs). MAS’ proposed regulatory amendments Once licensed, DTSPs will be subject to ongoing compliance requirements.

Service Provider 105

Service Provider Due Diligence AML Money Laundering 105

PYMNTS

SEPTEMBER 22, 2020

21) clarified the authority for national banks and federal savings associations to hold reserves on behalf of customers who issue stablecoins. The regulator of the nation’s banks has issued its first guidance on stablecoins , the cryptocurrency backed by traditional currency. .

Office of the Comptroller of the Currency 138

Office of the Comptroller of the Currency OCC Stablecoins Due Diligence 138

Fintech News

JULY 10, 2025

Asia Pacific Tightens the Reins with Less Room for Loopholes As of July 2025, the Monetary Authority of Singapore (MAS) brought its digital asset regulation framework into new light, releasing its final stance on the regulatory framework for Digital Token Service Providers or DTSPs. What’s driving this hard stance?

Regulations 70

Regulations Due Diligence SWIFT Money Laundering 70

Neopay

APRIL 10, 2025

This follows a 2022 penalty of 70,000 for delayed accounts and after previous attention of the UK’s Financial Conduct Authority in 2019 on AML compliance. The fine of 3.5 The cumulative record paints a picture of a company that is still developing its control environment in spite of its fast growth and global footprint.

Central Bank 52

Central Bank Money Laundering AML Financial Crimes 52

The Paypers

FEBRUARY 19, 2018

(The Paypers) The Swiss Financial Market Supervisory Authority FINMA has announced several updates on the due diligence requirements for digital onboarding to reflect advances in technology.

Due Diligence 28

Due Diligence Authorization Technology 28

Neopay

JANUARY 30, 2025

The Financial Conduct Authority (FCA) has recently published its findings on how firms are using the National Fraud Database (NFD) and money mule account detection tools to combat financial crime. The review highlights both positive practices and key areas where firms must improve to effectively disrupt money mule networks.

Financial Crimes 59

Financial Crimes Fraud Detection Crime Best Practices 59

Fintech News

FEBRUARY 21, 2024

The Monetary Authority of Singapore’s (MAS) legislative reform initiative, encapsulated in the Financial Institutions (Miscellaneous Amendments) Bill (FIMA Bill), signifies a strategic overhaul aimed at enhancing the regulatory and enforcement framework governing Singapore’s financial sector.

Financial Crimes 113

Financial Crimes Crime Authorization Consulting 113

Finextra

JULY 8, 2025

The aim is to reinforce a risk-sensitive and proportionate approach to Enhanced Due Diligence (EDD) obligations, particularly when dealing with domestic PEPs, their family members, and close associates. External This content is provided by an external author without editing by Finextra.

Money Laundering 52

Money Laundering Due Diligence Risk Risk Assessment 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. MillionAML The Financial Conduct Authority fined Metro Bank 16.7 November: Metro Bank16.6

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

Neopay

MARCH 6, 2025

The Financial Conduct Authority (FCA) has brought significant criminal charges against John Dance, the former principal partner of WealthTek LLP (formerly Vertus Asset Management LLP). enhanced due diligence: When firms operate under an AR structure, ensuring proper checks on business partners and their financial dealings is crucial.

Money Laundering 52

Money Laundering Audit Due Diligence Compliance 52

Payments Dive

JULY 7, 2025

Swiss regulators are doing more due diligence. 9, 2024 Spencer Platt/Getty Images via Getty Images Zelle, big banks challenge senators on scam reimbursements Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing.

Tax Refunds 78

Tax Refunds Privacy Zelle Processors 78

PYMNTS

SEPTEMBER 14, 2017

The Dubai Financial Services Authority (DFSA) warned investors on Wednesday (Sept. 13) that initial coin offerings (ICOs) are complex and risky, joining a growing list of governments to do so. The DFSA is joining Russia, China, the U.K. and the U.S.

Authorization 46

Authorization Due Diligence Bitcoin Cryptocurrency 46

The Fintech Times

AUGUST 11, 2024

The UK’s Financial Conduct Authority (FCA) has issued a sharp warning to crypto firms, highlighting significant shortcomings in their compliance with new financial promotion rules. The poor In contrast, firms displaying the poorest practices failed to implement robust due diligence processes.

Compliance 69

Compliance Due Diligence Regulations Risk 69

Segpay

NOVEMBER 26, 2024

This process, known as Customer Due Diligence/Know Your Customer (CDD/KYC) is a regulatory requirement aimed at the detection and prevention of money laundering (AML), fraud and other illegal activities. Enhanced Due Diligence (EDD), ongoing transaction monitoring of existing customers, is also an important part of the entire process.

Verification 111

Verification Identity Theft Money Laundering Due Diligence 111

PYMNTS

DECEMBER 28, 2018

If instituted, the proposals would give the banking authority more powers to oversee national banking watchdog organizations, which would be his ultimate goal. Some of the current EU rules include a requirement to do background checks and actions of due diligence on customers, and to share information on the way money flows.

Money Laundering 74

Money Laundering Rules Due Diligence Central Bank 74

Stax

NOVEMBER 21, 2024

Authorization The credit card details captured by your POS or online payment gateway will be sent to your payment processor. If the card checks out, the customer’s bank will send an authorization code to your payment processor, indicating that everything is in order and the transaction can proceed.

Credit Cards 88

Credit Cards Small Business Process Credit Card Payment Processing 88

The Fintech Times

FEBRUARY 12, 2024

The Financial Services Regulatory Authority (FSRA) of ADGM has imposed penalties on six financial institutions for contraventions of the Common Reporting Standard Regulations 2017 (‘the Regulations’). These fines totalled AED 170,000.

Distributed Ledger Technology (DLT) 59

Distributed Ledger Technology (DLT) Due Diligence Innovation Procedures 59

Global Fintech & Digital Assets

MARCH 5, 2024

Regulator sets out its expectations for banks looking to provide digital asset custody services, and sell and distribute tokenised products.

Authorization 59

Authorization Product Due Diligence Procedures 59

PYMNTS

JULY 15, 2020

The ruling also noted due diligence was conducted by two law firms, London-based Osborne Clarke and BTG Legal in Mumbai on behalf of the plaintiffs, FT reported. “To Wirecard’s former chief operating officer, Jan Marsalek, is being sought by authorities in several countries.

Due Diligence 64

Due Diligence Money Laundering Laws Legal 64

PYMNTS

JUNE 17, 2020

“Commerzbank London’s failings over several years created a significant risk that financial and other crime might be undetected,” Mark Steward, executive director of enforcement and market oversight for Britain’s Financial Conduct Authority (FCA), said in a statement accompanying the announcement.

AML 52

AML Due Diligence Money Laundering Authorization 52

Open Banking Excellence

NOVEMBER 7, 2023

It has the potential to quickly gain ubiquity at low cost, as it is based on the comprehensive customer due diligence checks already applied by banks to their 50 million customers. Banks spend around 5% of their revenue on AML compliance and customer due diligence (CDD). Sweden’s BankID – a precedent to follow?

Due Diligence 130

Due Diligence Ubiquitous Government Governance 130

Finextra

JULY 11, 2025

Home Announcements Wholesale Re:cap lands in the UK with €125m credit facility from HSBC 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. Out of that insight, re:cap was born.

Payment APIs and Integration 52

Payment APIs and Integration Due Diligence Authorization Finance 52

The Fintech Times

JULY 9, 2025

British neobank, Monzo has become the latest big name in the financial world to come under fire from the Financial Conduct Authority (FCA) for failing to implement adequate controls to stop financial crime between 2018 and 2022.

Financial Crimes 64

Financial Crimes Crime Security Online and Mobile Banking 64

The Payments Association

OCTOBER 11, 2024

The Financial Conduct Authority’s (FCA) proposed reforms to strengthen consumer fund safeguarding in the payments and e-money sectors. The Financial Conduct Authority (FCA) is consulting on new rules and guidance to strengthen the safeguarding of consumer funds in the payments and e-money sectors. What is this article about?

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

PYMNTS

DECEMBER 10, 2020

Still, it was a wake-up call for the industry, showing that such lapses could result in significant fees and criminal prosecution if basic due diligence is not followed. . s executives avoided potential jail sentences. identities. . However, cutting corners on these processes also comes at a price, with up to $3.9 million by 2025.

Due Diligence 80

Due Diligence Online and Mobile Banking BSA Federal Reserve 80

PYMNTS

SEPTEMBER 21, 2020

21), Commerzbank recounted in a statement that the transactions detailed in the FinCEN files are “based entirely on reports made by Commerzbank to the responsible authorities, mainly in the period 2010 to 2016,” and that the bank had reached a settlement in 2015 to pay regulators about $1.5 In one example, reported on Monday (Sept.

Fincen 139

Fincen AML Suspicious Activity Report (SAR) SARS 139

EBizCharge

JANUARY 21, 2025

Enter payment details: The business owner or authorized user manually inputs the customers card information. Potential security risks: Since a virtual terminal transaction typically relies on authorized users to properly handle payment details, poor practices can result in unauthorized data exposure and fraud.

Credit Cards 52

Credit Cards Encryption ACH Process 52

Fintech News

JULY 17, 2024

And contrasting with the non-crypto native space, the Hong Kong Monetary Authority (HKMA) just fined DBS Bank (Hong Kong) Limited, the HK subsidiary of DBS , a HK$10 million penalty for breaches of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). The United Arab Emirates has amended Federal Decree-Law No. (20)

Money Laundering 109

Money Laundering Law Enforcement AML Non-Bank 109

PYMNTS

FEBRUARY 4, 2019

authorities, ING admitted that criminals had laundered money through its accounts between 2010 and 2016 because of “serious shortcomings” in enforcing due diligence policies. They must adopt their own cultures of due diligence to meet rising expectations, avoid running afoul of regulators and reduce the risk of hefty fines.

AML 64

AML Money Laundering Due Diligence Fincen 64

PYMNTS

MAY 19, 2020

The company is backed by the Monetary Authority of Singapore, through its Financial Sector Development Fund. This is especially true as trade finance is often cut from budgets as banks look to limit risk and cut out costly paper procedures and due-diligence requirements.

Finance 69

Finance Due Diligence Non-Bank Cross-Border 69

Neopay

JUNE 3, 2024

In recent years, the process of obtaining authorisation from the Financial Conduct Authority (FCA) has become increasingly stringent. Key considerations for a successful CiC Due Diligence : Prior to pursuing a CiC, thorough due diligence is essential.

Due Diligence 52

Due Diligence Acquirers Regulatory Compliance Assessments 52

Neopay

OCTOBER 10, 2024

The Financial Conduct Authority (FCA) has issued two significant “Dear CEO” letters, marking the implementation of the new requirements for reimbursing victims of Authorised Push Payment (APP) fraud.

Due Diligence 52

Due Diligence Fraud Prevention Financial Crimes Compliance 52

Neopay

APRIL 8, 2024

Under the forthcoming legislation, PSPs will have the authority to delay outbound payments for up to four business days if there are reasonable grounds to suspect fraud or dishonesty. Extended Due Diligence : More time for conducting due diligence checks on suspected fraudulent transactions leads to a stronger evidence base for rejection.

Service Provider 52

Service Provider Due Diligence Fraud Prevention Payments 52

The Fintech Times

JULY 15, 2024

This progressive approach culminated in the establishment of the world’s first virtual asset-specific regulator, the Dubai Virtual Assets Regulatory Authority ( VARA ). Additionally, stablecoins are increasingly being explored for use in payments due to their stability and efficiency.

Stablecoins 96

Stablecoins Regulations Multi-Currency Issuers 96

PYMNTS

DECEMBER 8, 2016

Regulators expect banks to know that the transactions they are authorizing aren’t for bad guys or deadbeats who can’t pay them back. That due diligence is not only important for a lender to make a judgment about the borrower’s ability to repay the loan, but it checks the regulatory boxes about knowing the customer. “The

Due Diligence 78

Due Diligence Authentication Addressing Social Security 78