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FinCEN Files Show Banks’ ‘Whack-a-Mole’ Battle Against KYC/AML

PYMNTS

The documents, officially known as suspicious activity reports (SARs for short) show that the banks had filed more than 2,000 reports across the past 17 years.

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NICE Actimize Launches AI Tools for Streamlined Financial Crime Reporting

The Fintech Times

The solutions provide significant reductions in investigation time and substantial time savings in suspicious activity report (SAR) filing, improving efficiency in financial crime as well as compliance risk management programmes.

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FinovateFall 2024 Sneak Peek Series: Part 5

Finovate

BankShift harmonizes brands with banking technology, enabling community banks and credit unions to seamlessly embed their digital banking ecosystems within a brand’s app to create new revenue streams. Banks, credit unions, payment providers, and financial institutions focused on unsecured consumer lending.

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Consumer Watchdog Warns Against Elder Financial Abuse

PYMNTS

The CFPB is asking that financial institutions file Suspicious Activity Reports (SARs) with the government when they think elder financial exploitation (EFE) is happening. The report was based on a query of 180,000 EFE SARs which were filed from 2013 to 2017. .

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The Week In Payments: China, China, Challenger Banks And Bitcoin

PYMNTS

There are now over 8,000 cases worldwide, businesses like Starbucks and McDonald’s have shut down in China, planes have been grounded due to the outbreak and analysts are beginning to wonder if the coronavirus’s total economic effect will dwarf the $40 billion toll SARS took on the world economy a decade and a half ago.

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