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UK's Financial Intelligence Unit publishes latest guide on SAR submissions

The Paypers

The UK’s Financial Intelligence Unit (UKFIU) has published its guide on how suspicious activity report (SAR) intelligence is being used by law enforcement, aiming to demonstrate SAR filing best practices.

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13 Fintech Giants Back Programme Sirius to Promote MSME Sustainability in APAC

Fintech News

With the backing of 13 fintech industry leaders from 11 economies, the programme aims to bolster MSMEs’ efforts in aligning with the United Nations Sustainable Development Goals by enhancing their sustainability practices through digital platforms.

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The Rise of Synthetic Identity Fraud in Financial Services

Fi911

Failure to file SARs for known synthetic identities brings regulatory penalties. Members share data, best practices, and technology solutions. Suspicious Activity Report filing requirements apply to suspected synthetic identity fraud. Institutions must develop clear criteria for identifying and reporting these activities.

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Cracking the Code of White-Collar Crime with Sumsub

Fintech News

Sumsub equips industry professionals with the necessary tools to stay ahead by providing access to the latest best practices in transaction monitoring. Platforms like Sumsub are crucial in bridging this knowledge gap.

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Alipay+ Promotes Sustainable Cross-Border Travel with Year-End Campaign

The Fintech Times

These e-wallets include Alipay (Chinese mainland), AlipayHK (Hong Kong SAR, China), Touch ‘n Go eWallet by TNG Digital (Malaysia), GCash (the Philippines), and TrueMoney (Thailand).

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Alipay+ and Partner E-Wallets Drive Sustainable Travel in Year-End Global Campaign

Fintech Finance

The campaign, which will last till December 31, will first be launched for the destinations of Hong Kong SAR, Macao SAR, Japan, South Korea, Singapore, Malaysia and Thailand. As a result, merchants in the Chinese mainland, Macao SAR, Japan, South Korea and Singapore benefited the most from the surge in cross-border mobile payment.

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How to Maintain Anti-Money Laundering Compliance as a PayFac

Stax

Best practices for ensuring AML compliance as a PayFac include continuously updating your AML policies, utilizing advanced technologies for monitoring, periodic internal reviews and audits, and engaging with AML experts and consultants. But training can’t be a one-off practice. Here’s what you need to ensure as a PayFac.