Fintech Finance

DECEMBER 9, 2024

AGENDA HIGHLIGHTS: The Next Generation of Payments Enhancing Convenient and Secure Access to Financial Services The Next Digital Revolution Global Mobile Wallets and Super-apps Blockchain and Cryptocurrency Adoption Cross-Border Payment Innovations The Future of Financial Crime Levels of Connection – 2.0

Office of the Comptroller of the Currency 95

Office of the Comptroller of the Currency Financial Crimes BSA Cross-Border Payments 95

Fintech News

JULY 17, 2024

The rapid ascent of cryptocurrency has ushered in a new era of financial innovation, but it has also created novel challenges in combating financial crime. These services blend the cryptocurrencies of many users together, making it difficult to trace the origin of funds. Usage of mixers peaked in 2022, with over US$1.5

Money Laundering 109

Money Laundering Law Enforcement AML Non-Bank 109

FICO

DECEMBER 23, 2020

Here is how we predict banks will endeavor to enhance their financial crimes controls in 2021: 1. We expect these advanced analytics will play an even greater role this year in the prevention and detection of money laundering, terrorist financing, and other illicit financial crimes. Regulators Will Zero in on Closing the Gaps.

Financial Crimes 52

Financial Crimes Ransomware Crime AI 52

PYMNTS

OCTOBER 13, 2020

And, while terrorist use of cryptocurrency is still evolving, certain terrorist groups have solicited cryptocurrency donations running into the millions of dollars via online social media campaigns.”. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year.

AML 82

AML Fincen Cryptocurrency BSA 82

PYMNTS

AUGUST 14, 2019

The second was the rise of cryptocurrency (though during his remarks he tended to refer to it as Convertible Virtual Currency or CVC). That lack of robustness in response, he noted, is particularly worrisome, given the nature to which detecting and preventing modern financial crime is increasingly a data driven team effort.

Fincen 65

Fincen Financial Crimes Crime Suspicious Activity Report (SAR) 65

PYMNTS

MARCH 4, 2020

The Financial Crimes Enforcement Network (FinCEN) has fined Michael LaFontaine, former chief operational risk officer at U.S. Bank , with a $450,000 civil penalty for his negligence in failing to intercept breaches of the Bank Secrecy Act (BSA), FinCEN announced on Wednesday (March 4). . Department of Justice (DOJ) to penalize U.S.

AML 52

AML Suspicious Activity Report (SAR) Fincen BSA 52

PYMNTS

SEPTEMBER 2, 2019

Some VASPs are regulated as money transmitters under the Bank Secrecy Act (BSA) while others escape regulation, said David Murray, FIN’s vice president for product development and services. Although regulation could make it hard for some crypto firms to continue operations, Murray said it’s not the BSA’s job to accommodate everyone.

Regs 49

Regs BSA Legal Framework Cryptocurrency 49