Fintech News

DECEMBER 5, 2023

The Bank Indonesia (BI) and Central Bank of the United Arab Emirates (CBUAE) have signed a Memorandum of Understanding (MOU) to enhance collaboration in various central banking sectors, including Islamic finance. It also extends to digital financial innovations and Islamic economic finance.

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Clearly Payments

AUGUST 29, 2024

Central Bank Digital Currencies (CBDCs) have received attention in recent years as central banks worldwide explore the potential to evolve the way we conduct financial transactions. With the rise of digital payments, cryptocurrencies, and fintech innovations, CBDCs represent a new frontier in the evolution of money.

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Central Bank Digital Currency CBDC Cross-Border Payments 105

Finextra

APRIL 9, 2025

million by the central bank of Lithuania for deficiencies in its anti-money laundering controls. Revolut has been fined 3.5

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Central Bank Money Laundering AML 89

PYMNTS

DECEMBER 28, 2018

The vice president of the European Commission in charge of the euro, Valdis Dombrovskis, said Brussels wants more stringent enforcement of anti-money laundering (AML) rules after a series of scandals that rocked the industry, according to the Financial Times. You see those money laundering scandals across the EU,” Dombrovskis said. “It

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Money Laundering Rules Due Diligence Central Bank 74

Fintech News

JULY 4, 2024

As artificial intelligence (AI) rapidly transitions from a nascent development to a ubiquitous technology accelerating advancements across the financial landscape, far-reaching implications for central banks worldwide are quickly emerging.

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PYMNTS

APRIL 5, 2019

Denmark has decided to ban 500-euro notes in an attempt to fight money laundering in the country. The decision was made despite a request by the European Central Bank ( ECB ) not to ban the note. It is now the subject of several investigations.

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Fintech News

MARCH 24, 2025

In Singapore, the central bank strengthened in 2024 the Payment Services Act (PSA), introducing more stringent requirements for crypto service providers relating to AML/CFT, user protection and financial stability on service providers.

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APACS Verification Fraud Detection Money Laundering 93

PYMNTS

MAY 21, 2020

The tipping point might be nigh for digital dollars and other central bank-issued currencies done through bits and bytes. A central entity may be a central bank which regulates a monetary supply,” the company wrote. “A A central entity may implement a monetary policy and issue currency.

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Fintech News

MAY 15, 2024

Project Agorá, an initiative by the Bank for International Settlements (BIS) alongside major central banks and the Institute of International Finance (IIF), is moving forward and inviting private sector involvement. Enhanced financial integrity controls, such as anti-money laundering measures, are also a focus.

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Cross-Border Payments Cross-Border Federal Reserve Central Bank 145

The Paypers

FEBRUARY 1, 2021

The UAE Central Bank has penalised 11 banks for violating anti-money laundering (AML) regulations, imposing financial sanctions of over USD 124,55 mln (Dh 45.75 million).

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Money Laundering Central Bank AML Rules 48

PYMNTS

APRIL 30, 2019

Danske Bank ignored warnings from Russia’s Central Bank about money laundering and suspicious transactions worth billions through Danske’s Estonian branch, Reuters reported. The resulting document shows the extent of bank supervisors’ failures to catch the money laundering or stop it from happening.

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Money Laundering Central Bank Breach Rules 51

PYMNTS

FEBRUARY 27, 2020

Bank of Japan (BOJ) Deputy Governor Masayoshi Amamiya said that before they issue their own digital currencies, central banks around the world should attempt to get a better understanding of the pros and cons of the process, according to a report by Reuters. They will also confer with colleagues overseas on the topic.

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FICO

SEPTEMBER 26, 2016

Singapore Tonight, the evening news program of Channel NewsAsia, recently aired a story on money laundering in online gaming. It highlights how criminals, attempting to avoid detection by the authorities, may turn to less-regulated channels such as online games to launder money. or view it here. appeared first on FICO.

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PYMNTS

JANUARY 14, 2021

At least it seems so, if recent comments by European Central Bank President Christine Lagarde are any indication. As quoted by Reuters, she termed the cryptocurrency a “highly speculative asset, which has conducted some funny business and some interesting and totally reprehensible money laundering activity.”

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Money Laundering Bitcoin Regulations Central Bank 61

Payments Source

APRIL 23, 2018

Iran’s central bank prohibited domestic financial institutions from handling virtual currencies, citing money-laundering concerns, as it seeks to ramp up control over the nation’s currency markets.

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Central Bank Money Laundering Cryptocurrency Transactions 62

PYMNTS

DECEMBER 5, 2019

5) agreed on strategy for anti-money laundering (AML) reforms and countering the financing of terrorism, Reuters reported. The EU also backed plans for “greater powers” to fight money laundering following disclosures that there were several incidences of dirty money passing through European banks.

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PYMNTS

JULY 10, 2020

Stablecoins, the virtual currencies which seek price stability, could be the next target for money laundering and terrorist financing, a report found. If stablecoins were to become widespread, it could potentially lead to new risks regarding money laundering and terrorist financing,” FATF President Xiangmin Liu said at the time. “It

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PYMNTS

NOVEMBER 12, 2020

Christine Lagarde , European Central Bank (ECB) president, said the ECB could make its own digital currency within a few years, which could change up the eurozone financial sector drastically, Bloomberg reported. China, meanwhile, is also advancing plans for a central bank digital currency (CBDC), Bloomberg reported.

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Digital Currency Central Bank Federal Reserve Money Laundering 121

PYMNTS

JULY 24, 2020

The central bank of Kenya is putting forward new legislation to govern interest rates charged for digital lenders’ loans. Online lenders will need the green light from the central bank to roll out new offerings or hike lending rates if the legislation is put into law, Quartz Africa reported.

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PYMNTS

APRIL 5, 2019

A Russian bank with ties to a former U.S. congressman has lost its license amid money-laundering violations. Bloomberg reported Friday (April 5) that Commercial Bank of Ivanovo, which is 80 percent owned by former North Carolina Republican Rep. Taylor had denied knowing about the loans.

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The Payments Association

JUNE 9, 2025

According to the Bank of England, RTGS settles approximately £500 billion between banks each day—around a quarter of the UK’s annual GDP—in sterling central bank money. RT2 also fundamentally transforms international payments by establishing harmonised messaging standards with major global settlement systems.

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ISO 20022 Payment APIs and Integration ISOs Interoperability 88

The Fintech Times

JUNE 26, 2024

Artificial intelligence (AI) is transforming industries across the globe, and central banks are no exception. According to a new report by the Bank for International Settlements (BIS) , central banks must embrace AI to harness its full potential and anticipate its far-reaching impacts on the economy and financial systems.

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PYMNTS

JUNE 21, 2019

The head of Germany’s central bank warned about stablecoins, which are cryptocurrencies tied to traditional currencies, according to a report by Reuters. Jens Weidmann said that if the new currency becomes widely used, it could undermine banks.

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Central Bank Money Laundering Stablecoins Digital Currency 59

The Payments Association

MARCH 19, 2025

Notably, the rise of cryptocurrencies, stablecoins, and Central Bank Digital Currencies (CBDCs) are transforming the digital payments landscape. These innovations offer businesses and consumers a way to move money faster, cheaper, and more securely.

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The Paypers

AUGUST 5, 2024

The Central Bank of the UAE ( CBUAE ) has imposed a financial sanction on a bank operating in the region for anti-money laundering lapses.

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Money Laundering Central Bank 41

Payments Source

MAY 6, 2021

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Digital Currency Central Bank Money Laundering Risk 119

PYMNTS

APRIL 27, 2017

Allied Irish Banks was hit with a $2.2 million fine by the Central Bank of Ireland due to compliance failures with anti-money laundering and terrorist financing rules. The bank “fully co-operated with the Central Bank at all stages of this investigation, which has now concluded,” it added.

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PYMNTS

JUNE 19, 2019

In an effort to clamp down on cross-border money laundering, the People’s Bank of China (PBOC) plans to bolster cooperation with other nations such as countries in Europe. However, the PBOC said, “The Chinese government has spared no effort to crack down on all kinds of criminal activities, including money laundering.”

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PYMNTS

FEBRUARY 28, 2020

The Deputy Governor of the Bank of England (BoE), Jon Cunliffe, said on Friday (Feb. 28) that digital currencies could potentially dry up lending for banks and affect the economy as a whole, according to a report by Reuters. The Central Bank of China is not a part of the group, although it is releasing a digital currency of its own.

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Digital Currency Central Bank Stablecoins Money Laundering 95

PYMNTS

MARCH 16, 2020

Alexey Guznov, the Bank of Russia’s head of legal office, said in an interview with a news agency in the country that the institution didn’t think the trading and issuance of digital currency should be legal in its borders.

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Bitcoin Digital Currency Central Bank Money Laundering 97

PYMNTS

OCTOBER 11, 2018

The People’s Bank of China has announced new anti-money laundering (AML) and counter-terrorism financing regulations for online financial institutions (FIs). The country’s central bank added that it would improve its own supervision process for fighting money laundering and terrorism financing.

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PYMNTS

JUNE 17, 2020

Meanwhile, European Central Bank (ECB) board member Yves Mersch said at a recent virtual conference that about 80 percent of 66 central banks queried by the Bank of International Settlements were already working on central bank digital currencies (CBDC).

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Digital Currency Central Bank CBDC Deposit Account 89

The Paypers

NOVEMBER 19, 2021

The Central Bank of the UAE (CBUAE) has issued new guidance on anti-money laundering and combating the financing of terrorism (AML/CFT) for licensed exchange houses (LEH).

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Central Bank AML Money Laundering Finance 42

PYMNTS

APRIL 11, 2018

The central banks of Japan and Hong Kong are interconnecting their systems to support faster cross-border payments and trade between the two markets, according to Reuters reports on Tuesday (April 10). The Bank of Japan announced the plans that reports said may be the first of their kind by any central bank.

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Central Bank Faster Payments Cross-Border Payments Cross-Border 46

The Paypers

APRIL 8, 2025

million from Lithuania’s central bank for deficiencies in its anti-money laundering (AML) procedures. Revolut has received a fine of EUR 3.5

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AML Money Laundering Procedures Central Bank 62

PYMNTS

JUNE 29, 2020

We will take firm action if we find evidence of criminal behavior or serious lapses in anti-money laundering controls,” the MAS said. Shortly before news of the missing money broke, the MAS said it had asked Wirecard’s domestic divisions to protect customer funds, Reuters reported. and the Bank of the Philippine Islands.

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White Collar Crime Central Bank Money Laundering Authorization 56

The Paypers

AUGUST 2, 2022

The Central Bank of the UAE has issued new guidelines meant to assist licensed financial institutions (LFIs) in combating money laundering and terrorism financing.

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Central Bank Money Laundering AML Finance 41