PYMNTS

SEPTEMBER 21, 2020

The documents, officially known as suspicious activity reports (SARs for short) show that the banks had filed more than 2,000 reports across the past 17 years. In one example, reported on Monday (Sept. billion in fines.

Fincen

Fintech News

MARCH 25, 2025

Authorities are targeting 3 million tourist arrivals and US$5 billion in revenue in 2025. With the rollout now live, travellers from 10 countries and regions can use 14 Alipay+ partner e-wallets to make payments at over 400,000 merchants across Sri Lanka by scanning the LANKAQR code.

SARS

PYMNTS

JANUARY 30, 2019

The payments company, which was not named for legal reasons, said at least two of its accounts were frozen in October of 2015 after RBS filed suspicious activity reports (SARs) to the National Crime Agency (NCA) in the U.K. Downes pointed out that the company wasn’t the only entity involved with the alleged money launderers.

Suspicious Activity Report (SAR)

The Fintech Times

AUGUST 19, 2024

Since China took Hong Kong back from the British during the 1997 handover, the uniqueness of the Hong Kong Special Administrative Region (SAR) meant that under the ‘one country two systems’ policy, it continues to thrive thanks to its own strengths. As a result, Hong Kong SAR is the world’s largest offshore yuan financing centre.

FinTech

The Fintech Times

APRIL 29, 2024

If that is not the case, and you observe unusual and/or suspicious activity, submit a report (via a suspicious activity or transaction report – SAR or STR) to your local financial intelligence unit (FIU) for investigation, if necessary, escalate matters to the relevant law enforcement authorities. million SARs to the U.S.

Money Laundering

Fintech Finance

JULY 25, 2024

Mobile-savvy travelers from the Chinese Mainland, Hong Kong SAR, Europe, Malaysia and South Korea lead the European travel craze in terms of the number of transactions and total spending. The number of tourists who paid with their preferred home payment app via Alipay+ rose by over 30% during the championship period.

Cross-Border

FICO

JUNE 9, 2022

AML Threat Score: Reducing False Positives Amid Defensive SAR Filings. Defensive SARs obscure the true efficacy of the AML program with a high volume of low-quality outcomes. The Cascading Effect of Defensive SARs. Furthermore, defensive SARs make it hard to quantify false positive reduction, even at 100% SAR detection.

Money Laundering

The Fintech Times

SEPTEMBER 6, 2024

Returning to China in 1999, Macau became a Special Administrative Region (SAR) under the ‘one country two systems’ policy. Consequently, the SAR launched its plans for diversifying the economy based on the ‘1+4’ model in 2023. This sentiment was shared in Macau.

SARS

PYMNTS

JULY 17, 2019

The CFPB is asking that financial institutions file Suspicious Activity Reports (SARs) with the government when they think elder financial exploitation (EFE) is happening. The CFPB also released a report that showed how important it was to tell authorities about EFE.

Suspicious Activity Report (SAR)

Segpay

MARCH 24, 2025

USA: Stricter transaction monitoring, requiring Suspicious Activity Reports (SARs) to FinCEN and geographical targeting orders (GTOs) for high-risk areas. Casinos and online gambling firms follow Bank Secrecy Act (BSA) rules and file Suspicious Activity Reports (SARs). Casinos file SARs (Suspicious Activity Reports) with FinCEN.

Compliance

PYMNTS

MARCH 13, 2020

Health authorities have encouraged the elderly not to travel on cruises, while demand for cruises has declined precipitously. Industry downturns in the past were brought about by events like the Iraq war, the SARS pandemic and the 9/11 attacks. Another ship operator, Viking, said it would stop all ocean and river cruises prior to May.

Data Breach

The Fintech Times

FEBRUARY 1, 2024

Through partnership with Abu Dhabi’s Integrated Transport Centre (ITC) and the Dubai Roads and Transport Authority (RTA), payments made via Alipay+ are now accepted on taxis operating in the United Arab Emirates. Additionally, Chinese visitors to the UAE can now receive their tax refunds instantly at airports.

Tax Refunds

PYMNTS

MARCH 17, 2020

But perhaps they’re not, in an age where past epidemics (SARs among them) may have steered insurance firms to narrowly define parameters of what they would — and wouldn’t cover — in the event new health crises threatened the economic well being of smaller companies. Communicable diseases? Perhaps they’re covered.

SARS

PYMNTS

JUNE 23, 2016

A recent guest blog presented by G2 Web Services explores the obligations acquirers and third parties have when it comes to filing a Suspicious Activity Reporting (SAR) form if there is any suspicion of transaction laundering. According to the post , authored by Theodore F. Monroe and Bradley O. Cebeci of the Law Offices of Theodore F.

Suspicious Activity Report (SAR)

The Fintech Times

SEPTEMBER 2, 2024

Designed to be one of Asia, Europe, and North Africa’s premier annual fintech events, 24 Fintech is hosted by Saudi Arabia’s Financial Sector Development Program (FSDP), the Saudi Central Bank , the Capital Market Authority (CMA), and the Insurance Authority. billion by 2030.

FinTech

The Payments Association

JANUARY 29, 2025

Following the Financial Conduct Authoritys (FCA) 2020 visit, the FCA imposed a Voluntary Requirement (VREQ) to restrict new high-risk customer onboarding while CBPL remediated its controls. SAR and high-risk client backlogs : TD Bank faced delays in reviewing suspicious activity and closing high-risk accounts. November: Metro Bank16.6

Financial Crimes

The Paypers

MARCH 26, 2020

The Saudi Arabian Monetary Authority (SAMA) has decided to raise the allowed top-up of the monthly ceiling limit for e-wallets up to 4.800 EUR (20.000 SAR).

SARS

PYMNTS

NOVEMBER 30, 2017

“Businesses who ignore their money laundering responsibilities should not expect a light touch,” he added in a statement sent to PYMNTS.

AML

Seon

MAY 10, 2024

Mandatory AML measures include the continuous monitoring of individual customers, financial transactions, the verification of the source of funds and the imperative to report any suspicious activities to relevant authorities, with the overarching goal to thwart money laundering, curb terrorism financing and combat other crimes.

AML

The Fintech Times

JULY 9, 2024

The new annual event is hosted by the Financial Sector Development Programme (FSDP), Saudi Central Bank (SAMA), Capital Market Authority (CMA), Insurance Authority (IA), and co-organised by Fintech Saudi and Tahaluf. This will culminate in a grand finale with more than SAR 900,000 ($250,000+) in equity free awards.

FinTech

The Fintech Times

JULY 27, 2024

Mobile-savvy travellers from the Chinese Mainland, Hong Kong SAR, Europe, Malaysia and South Korea lead the European travel craze in terms of the number of transactions and total spending. The number of tourists who paid with their preferred home payment app via Alipay+ rose by over 30 per cent during the championship period.

Tax Refunds

Fintech Finance

APRIL 8, 2024

Ant Group , along with 11 overseas payment partners of Alipay+ and major international card organizations, launched in Beijing a nationwide Program to build International Consumer Friendly Zones across major Chinese tourist and commercial cities, with the support of relevant authorities and local governments.

Consumer

Fintech Review

OCTOBER 22, 2024

The South African Revenue Service (SARS) requires taxpayers to declare cryptocurrency gains as part of their taxable income. One of the primary issues is the decentralised nature of cryptocurrencies, making it difficult for authorities to track and regulate transactions.

Cryptocurrency

The Fintech Times

SEPTEMBER 10, 2024

This year, Hong Kong SAR announced it would allow the pilot digital currency to be used in local shops. By the end of June 2023, e-CNY transactions – primarily used for domestic retail payments – totalled 1.8 trillion yuan ($249.27billion), with 120 million digital wallets opened, according to the central bank.

FinTech

PYMNTS

MARCH 19, 2020

The samples are shipped for COVID-19 testing under the FDA Emergency Use Authorization (EUA), which was issued to help build out America’s testing capacity. Samples also come with overnight shipping labels, and the firm says consumers will be able to check their results online within 48 hours. .

SARS

Stax

DECEMBER 4, 2023

It mandates ongoing monitoring of suspicious activity, recordkeeping, and submitting suspicious activity reports (SARs) to the government. PayFacs must also monitor their transactions continuously for any suspicious behavior and report them to the authorities immediately. Q: Why is AML compliance critical for PayFacs?

Money Laundering

Seon

SEPTEMBER 23, 2024

If a customer sending or receiving a payment does hit a sanctions list, regulated entities are required to file a Suspicious Activity Report (SAR) with the relevant authorities. Investigation and Resolution : Trained personnel investigate the alert to determine if it’s a true match or a false positive.

Suspicious Activity Report (SAR)

The Fintech Times

JUNE 26, 2024

Its head office is in Basel, Switzerland and it has two representative offices: in Hong Kong SAR and in Mexico City, as well as Innovation Hub Centres around the world. AI can sift through vast datasets to identify financial system vulnerabilities, enabling authorities to pre-emptively address risks.

Central Bank

PYMNTS

FEBRUARY 3, 2020

As of the start of this week, there were more than 17,000 diagnosed cases within China, and the disease officially has more fatalities associated with it than the SARS outbreak of the early 2000s. Although authorities knocked down two of the biggest criminal markets online recently, new exchanges quickly take their place.

Bitcoin

The Fintech Times

MARCH 20, 2024

At the same time, led by government authorities in specific sectors, UnionPay will encourage other industry players to pool their resources. Ten major wallets, including AEON in Hong Kong SAR, OCBC in Singapore , and the LPB e-wallet in Vietnam , now support UnionPay QR payments. in key cities and use cases.

Use Case

Seon

JUNE 29, 2023

An AML/CTF report by the Financial Action Task Force (FATF) stresses the benefits of real-time threat monitoring systems to inform better communication, accountability, and auditability throughout the data-sharing processes between organizations and their compliance authorities.

Transactions

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. One of the ways REP-CRIM is used is in PAMLP (the FCA’s Outliers/Proactive AML Programme).

AML

Seon

SEPTEMBER 14, 2023

Make sure those you proceed with are filed in a suspicious activity report (SAR), which notifies government agencies of potential money launderering. Update your risk rules: AML rules are regularly updated by authorities, so your system should also let you edit risk rules to stay on top of the latest mandates.

Risk

FICO

OCTOBER 17, 2019

38% of AML professionals report concern over the level of suspicious activity reports (SARs) that they are filing defensively , which significantly increases workload. More recently, regulators including the Financial Conduct Authority in the UK, the U.S.

Money Laundering

Neopay

FEBRUARY 21, 2024

Starting 4 March 2024, the National Crime Agency (NCA) is rolling out a new system for Suspicious Activity Reports (SARs). The current SAR Online System will be replaced by the SAR Portal at 2:00pm GMT. This change is essential, especially for UK SAR reporters who must register for the SAR Portal before the deadline.

SARS

PYMNTS

SEPTEMBER 21, 2020

BuzzFeed said the thousands of suspicious activity reports, authored by lenders and shared with the government, offer a glimpse into global corruption enabled by banks and allowed to flourish by regulators. FinCEN received more than 2 million SARs last year. told the news outlet.

Fincen

PYMNTS

JANUARY 21, 2020

The virus has since been classified as a coronavirus — a genetic cousin of the SARS virus, which has caused hundreds of deaths worldwide. Though less serious than SARS, the new virus reportedly causes pneumonia-like symptoms in those who contract it. The virus, it seems, is spreading rapidly. based global health charity Wellcome Trust.

SARS