Remove Compliance Remove Due Diligence Remove Regulatory Compliance
article thumbnail

Crypto Firms in Indonesia Must Rethink Their Compliance Now, Or Risk Losing Out

Fintech News

Once known for speed and disruption, Indonesia’s crypto industry is now facing its biggest reckoning: compliance or irrelevance. With OJK taking the regulatory reins and the Travel Rule now in force, crypto firms in Indonesia must evolve fast or risk falling behind in global markets, regulatory approval, and user trust.

article thumbnail

Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures

The Payments Association

It highlights new corporate responsibilities, significant penalties for non-compliance, and the businesses need to implement strong fraud prevention measures to protect their financial and reputational standing. Compliance requires proactive fraud risk assessment, the implementation of preventive procedures, and a culture of accountability.

Crime 88
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Crypto Leaves the Wild West Behind as Regulations Take Over

Fintech News

Regulatory compliance is swiftly becoming a core requirement, forcing crypto businesses to overhaul their business models and ensure that their models are legitimate and stable. From recent crackdowns in Thailand to swift reforms in Singapore, the message is clear: compliance is the new currency of credibility in crypto.

article thumbnail

Ocorian selects Fenergo to strengthen compliance

Finextra

Ocorian, specialist global provider of fund administration, capital markets, corporate, fiduciary and regulatory services, has partnered with Fenergo to further digitise and simplify client due diligence and regulatory compliance processes across its global operations.

article thumbnail

Another Revolut Fine – This Time from the Central Bank of Lithuania

Neopay

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 regulatory environment is getting tighter This incident is not just about a Revolutit’s a warning example for the broader payments and fintech sector. The fine of 3.5

article thumbnail

Merchant Underwriting: What It Is, How It Works, and Why It’s Important

Stax

The merchant underwriting process helps reduce fraud (including chargeback volume), ensures compliance with regulations, and protects financial stability in the payment processing space. Key steps include application review, risk assessment, credit checks, and compliance verification. Learn More What is Merchant Account Underwriting?

article thumbnail

FCA charges John Dance with fraud and money laundering related to WealthTek

Neopay

Lessons for regulated firms This case underscores critical compliance lessons for financial firms, particularly those operating under the appointed representative model. enhanced due diligence: When firms operate under an AR structure, ensuring proper checks on business partners and their financial dealings is crucial.