Fintech News

FEBRUARY 6, 2024

The battle against financial crime is an ever-evolving challenge requiring expert knowledge, cutting-edge technology, and continuous learning. The answer might be more intricate than anticipated, but companies like Sumsub are pioneering the movement to outwit these nefarious activities.

White Collar Crime 108

White Collar Crime Crime Suspicious Activity Report (SAR) Financial Crimes 108

The Fintech Times

SEPTEMBER 14, 2024

“This improves customer due diligence by concurrently cross-referencing many databases to verify identities with potential clients and any risks associated with them. “Likewise, machine learning algorithms continuously learn from data, improving accuracy over time. Some uses are obvious.

Compliance 106

Compliance AI Process Suspicious Activity Report (SAR) 106

Stax

DECEMBER 4, 2023

With the global economy moving online, corruption, fraud, trafficking, and other illicit activities continue to rise. According to a UN report, money laundering activities of about $1.6 Transaction monitoring and reporting Onboarding sub-merchants following thorough KYC isn’t enough. of global GDP.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

Seon

SEPTEMBER 23, 2024

While PEPs require enhanced due diligence , regulated entities typically don’t screen individual payments against PEP lists due to the risk of excessive false positives. Organizations must continuously update their screening processes and technology to adapt to regulatory changes.

Suspicious Activity Report (SAR) 52

Suspicious Activity Report (SAR) Money Laundering Due Diligence AML 52

Neopay

JULY 4, 2024

Nigel Reed, COO of Neopay Ltd, has personally supported over 100 firms in gaining authorisation from the FCA and continues to provide support to them after authorisation to help them with their AML and regulatory compliance. Basically, more firms are facing scrutiny and supervisory activities than in the past.

AML 52

AML Due Diligence Suspicious Activity Report (SAR) Risk Assessment 52

PYMNTS

AUGUST 14, 2019

More broadly, however, Blanco’s theme was the interconnectedness of the financial system – and how diligence and transparency is the key to combating money laundering and other financial crimes in the U.S. and around the world. Let me assure you, this is not the case.

Fincen 65

Fincen Financial Crimes Crime Suspicious Activity Report (SAR) 65

Seon

JUNE 29, 2023

As such, it is part of an organization’s due diligence. Transactions that can be linked to terrorist financing can be elevated from conventional AML due diligence to advanced AML due diligence. Continue to monitor the transactional data and act on any alerts that arise.

Transactions 52

Transactions Due Diligence Money Laundering AML 52