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

Stax

Ensure regulatory compliance by adhering to anti-money laundering (AML) laws and Know Your Customer (KYC) requirements. Anti-Money Laundering (AML): AML checks prevent the use of payment systems for illegal activities, such as money laundering or financing terrorism.

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

Neopay

While there was no actual money laundering, the enforcement highlights a theme across the financial sector: that even in the absence of proven financial crime, poor controls and a lack of monitoring can lead to severe regulatory action.

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OKX Pay Launched to Simplify Crypto Payments and Self-Custody

Fintech News

Users will be able to store half of their private key in their passkey wallet while OKX holds the other half, enabling easier account recovery without compromising security. The service will initially support stablecoins such as USDT and USDC, allowing users to send money as easily as sending a message.

Web 3.0 66
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RT2: A strategic transformation for UK payment providers

The Payments Association

The enriched data model supports advanced sanctions screening, more effective anti-money laundering controls, and the development of data-driven payment services. RT2 also fundamentally transforms international payments by establishing harmonised messaging standards with major global settlement systems.

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Understanding PCI DSS, PSD2, and AML in Payment Processing: A Practical Guide

Finextra

It helps you offer smarter, faster, and more personalized financial experiences without compromising security. AML stands for Anti-Money Laundering. Banks and payment providers must follow these rules to stop money laundering and terrorist financing. AML compliance helps you stop them before they succeed.

PCI DSS 52
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The Ultimate Guide to Ecommerce Payment Solutions

Stax

Its also great for small businesses because it can eliminate many headaches associated with Know Your Customer (KYC) requirements, Anti-Money Laundering (AML) regulations, application processing, and underwriting. If a hacker compromises the eCommerce site, they only access a useless token, instead of payment data.

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AI Becomes the Banker: 21 Case Studies Transforming Digital Banking CX

Finextra

In mid-2024, the company announced that this AI approach doubled the detection rate for compromised cards before fraud occurs. Impact: This made transferring money even more convenient; users can simply talk or message instead of manually using the app. For WhatsApp users, it removes the need to switch apps at all.

AI 114