Neopay

APRIL 10, 2025

million penalty on Revolut Bank UAB the largest penalty ever for the neobank for the deficiencies in its financial crime prevention system. On 8 April 2025, the Bank of Lithuania imposed a 3.5 What went wrong for Revolut?

Central Bank 52

Central Bank Money Laundering AML Financial Crimes 52

Fintech News

JULY 10, 2025

Today, the broader ecosystem is also seen as a vector for financial crime. This includes performing full customer due diligence on clients onboarded before the license was obtained. Consumer protection has always been the loudest rallying cry. Retail investors have been burned time and again, whether by token collapses or fraud.

Regulations 80

Regulations Due Diligence SWIFT Money Laundering 80

Neopay

JANUARY 30, 2025

The Financial Conduct Authority (FCA) has recently published its findings on how firms are using the National Fraud Database (NFD) and money mule account detection tools to combat financial crime. The National Economic Crime Plan (2023-2026) has identified money mules as a major enabler of fraud and other criminal activities.

Financial Crimes 59

Financial Crimes Fraud Detection Crime Best Practices 59

The Fintech Times

JULY 9, 2025

British neobank, Monzo has become the latest big name in the financial world to come under fire from the Financial Conduct Authority (FCA) for failing to implement adequate controls to stop financial crime between 2018 and 2022. “Tech outages have hit big banks hard in recent years, which has worked in the challengers’ favour.

Financial Crimes 64

Financial Crimes Crime Security Online and Mobile Banking 64

Neopay

JANUARY 22, 2025

According to a recent report by the National Crime Agency (NCA), GenAI represents one of the most substantial threats to the fraud landscape today. Generate realistic fake documentation to bypass due diligence processes. Using advanced generative models, it creates content that is increasingly realistic and sophisticated.

AI 59

AI Deepfake Phishing Scams 59

Neopay

MARCH 6, 2025

enhanced due diligence: When firms operate under an AR structure, ensuring proper checks on business partners and their financial dealings is crucial. Contact us today to learn more about our compliance solutions and how we can support your firm in reviewing, maintaining or enhancing your financial crime framework.

Money Laundering 52

Money Laundering Audit Due Diligence Compliance 52

The Payments Association

JULY 18, 2025

They must also formally allocate safeguarding oversight to a designated individual and demonstrate robust due diligence when selecting safeguarding banks, custodians, and investment arrangements for relevant funds. Read More »

Regulations 88

Regulations Payment APIs and Integration Payments Legal 88

Finextra

JULY 9, 2025

In anti-money laundering (AML) and customer due diligence regimes, Source-of-Wealth (SoW) traceability is now a discrete requirement. and SoWE (Source of Wealth Essay), structured asset logs, and multijurisdictional record-keeping are becoming compliance essentials, not luxuries.

Compliance 52

Compliance Cross-Border Payment APIs and Integration Legal 52

Finovate

JANUARY 24, 2025

Given how quickly crime risks evolve in the financial sector, especially with the advent of AI, I see the overall impact of EU regulations as balanced supporting innovation in some areas while slowing it down in others.

Regulations 72

Regulations FinTech BNPL Cross-Border 72

Finextra

JULY 8, 2025

The aim is to reinforce a risk-sensitive and proportionate approach to Enhanced Due Diligence (EDD) obligations, particularly when dealing with domestic PEPs, their family members, and close associates. It aims to strike a better balance between financial crime prevention and fair customer treatment.

Money Laundering 52

Money Laundering Due Diligence Risk Risk Assessment 52

Finextra

JUNE 10, 2025

Monitoring DBT trends allows companies to act early, whether by adjusting payment terms, diversifying their supplier base, or increasing due diligence. In these sectors, late payments can ripple through the supply chain, putting pressure on smaller vendors and disrupting projects.

Due Diligence 52

Due Diligence Authorization Risk Research 52

Finextra

JULY 11, 2025

The idea for re:cap was born when co-founders Paul Becker and Jonas Tebbe were consulting a private equity firm on digital due diligence. Home Announcements Wholesale Re:cap lands in the UK with €125m credit facility from HSBC External This content is provided by an external author without editing by Finextra.

Payment APIs and Integration 52

Payment APIs and Integration Due Diligence Authorization Non-Bank 52

Finextra

JUNE 25, 2025

Clairas technology embeds AI into deal workflows, accelerating due diligence and providing easy access to historical deal data and insights. Claira brings smart automation to an area of the market which has traditionally seen an over-reliance on manual processes and workflows.

Due Diligence 59

Due Diligence Privacy Research API 59

The Fintech Times

MARCH 4, 2024

However, their youth could be an advantage in embracing anti-crime tech, suggests Gabriella Bussien , CEO of Trapets , the tech-first financial crime prevention organisation. They overlook the harder aspects of due diligence that aren’t easily automated. But they still make some age-old mistakes.

Due Diligence 127

Due Diligence Money Laundering Risk Regulations 127

FloQast

MAY 2, 2024

Given the analytical nature of our profession, it should come as no surprise that we’re also huge on true crime. So, today, we’re especially proud to announce our first-ever true crime podcast, Fraud Files: The Rise & Fall of Dawn J. and an accomplished author, season one takes a deep dive into the life and crimes of Dawn J.

Crime 105

Crime Due Diligence Advisors Agreements 105

Fintech News

FEBRUARY 6, 2024

The battle against financial crime is an ever-evolving challenge requiring expert knowledge, cutting-edge technology, and continuous learning. As white-collar criminals tirelessly innovate their methods to commit financial crimes, the question arises: How can one step ahead in this high-stakes game?

White Collar Crime 110

White Collar Crime Crime Suspicious Activity Report (SAR) Financial Crimes 110

The Payments Association

JANUARY 29, 2025

2024 brought significant regulatory action, highlighting persistent weaknesses in financial crime controls across the industry. As we enter 2025, we look back at five significant cases from 2024 and the lessons they provide for organisations aiming to strengthen their financial crime frameworks. billion settlement with the U.S.

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

Fintech News

FEBRUARY 21, 2024

This development is set against the backdrop of evolving financial crimes, which increasingly involve complex, multi-jurisdictional operations. Featured image credit: Edited from Freepik The post How Will MAS New Amendments Impact Financial Crime Enforcement appeared first on Fintech Singapore.

Financial Crimes 116

Financial Crimes Crime Authorization Consulting 116

Fintech News

MAY 22, 2024

Over the past years, financial crime tech has risen to prominence, driven by increasing complexity and frequency of financial crimes, stricter regulations and compliance requirements, and technological advancements. Today, we delve into these firms’ offerings, recent strides and contributions to the field.

Financial Crimes 105

Financial Crimes Crime APACS Risk Assessment 105

PYMNTS

SEPTEMBER 4, 2018

Financial crime is drawing scrutiny — and fines — at large financial institutions. In its statement, the company said that it had uncovered “serious shortcomings” in its efforts to conduct customer due diligence at Dutch operations stemming from the period between 2010 to 2016.

Due Diligence 46

Due Diligence Money Laundering Law Enforcement Settlement 46

PYMNTS

SEPTEMBER 28, 2020

PYMNTS' September Preventing Financial Crimes Playbook , done in collaboration with NICE Actimize , analyzes the pandemic-era fraud landscape and identifies its many pitfalls. Financial crime-fighters simply won’t suffer this state of affairs. A Marriage Of Advanced Tech With Due Diligence.

Financial Crimes 81

Financial Crimes Crime Due Diligence Federal Trade Commission 81

Fintech News

OCTOBER 6, 2024

The IMC’s report outlines strategies aimed at strengthening prevention, improving detection, and enforcing tougher penalties to better protect the integrity of Singapore’s financial system against increasingly sophisticated financial crimes. Such crimes will continue to evolve and remain a threat to all international financial centres.

Money Laundering 124

Money Laundering Law Enforcement Due Diligence Financial Crimes 124

FICO

MARCH 6, 2020

In September 2019, Fico and Visma announced their partnership to Offer SaaS Anti Financial Crime Solutions in Western Europe. I also manage the partner channels and programs for our financial crime compliance solutions. In this excerpt from that article, Jürgen elaborates on the importance of compliance. .

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

The Paypers

JULY 23, 2021

Varo Bank has selected financial crime investigation firm Quantifind ’s Graphyte platform to optimise its adverse media screening and investigations automation performance.

Due Diligence 50

Due Diligence AML Financial Crimes Crime 50

FICO

JULY 14, 2016

The sheer scope of financial crime—money laundering, evasion of sanctions, financing of terror and other transgressions—is shocking. All of these crimes were years in the making, which makes me think there are many more still out there, still gestating. The post Meet the New Financial Crime Sheriff: Analytics appeared first on FICO.

Financial Crimes 66

Financial Crimes Crime Money Laundering Due Diligence 66

Stax

NOVEMBER 27, 2023

That’s a lot of money being exchanged—and also provides a huge amount of possibility for financial crime. Financial crime can take on several faces, including (cyber) fraud, cryptocurrency scams, and money laundering—and companies offering financial services can lose out on serious bucks. billion for its role in financial crime.

Due Diligence 88

Due Diligence Money Laundering AML Financial Crimes 88

PYMNTS

SEPTEMBER 29, 2020

Jumio said it plans to integrate Beam’s AML screening and transaction monitoring services into its KYX platform to help flag financial crime and streamline regulatory compliance. The announcement comes on the heels of Jumio’s Sept. The financial terms of Jumio ’s acquisition of Beam’s AML platform were not disclosed.

Financial Crimes 61

Financial Crimes AML Crime Money Laundering 61

Neopay

NOVEMBER 13, 2024

The Financial Conduct Authority (FCA) recently levied a substantial £16,675,200 fine against Metro Bank PLC (Metro) for significant shortcomings in its financial crime prevention systems and controls. This deficiency persisted until December 2020, leaving over four and a half years with potential gaps in financial crime oversight.

Financial Crimes 52

Financial Crimes Crime Due Diligence Compliance 52

Fintech News

JANUARY 16, 2024

Blacksmith enables banks to tailor their Customer Due Diligence (CDD) requirements and streamline data collection for efficiency gains. The acquisition also includes Blacksmith KYC, developed in 2017 at ING Labs Singapore, designed to optimise KYC processes within the financial industry.

Due Diligence 111

Due Diligence Financial Crimes Crime Addressing 111

PYMNTS

SEPTEMBER 21, 2020

Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) show that several of the largest global banks moved money on behalf of scores of individuals and enterprises involved in criminal financial activity. As BuzzFeed reported, “laws that were meant to stop financial crime have instead allowed it to flourish.

Fincen 139

Fincen AML Suspicious Activity Report (SAR) SARS 139

The Fintech Times

JULY 21, 2024

UK financial services firms currently spend over £21,000 per hour fighting financial crime and fraud through onboarding and compliance screening processes, according to the latest True Cost of Compliance report from LexisNexis Risk Solutions. In fact, levels of tech investment have grown at twice the rate of employee-related costs. .

Financial Crimes 64

Financial Crimes Crime Compliance Due Diligence 64

The Paypers

JANUARY 14, 2021

Financial crime screening, payment services, and KYC solutions provider Accuity has announced the availability of Bankers Almanac Enhanced Due Diligence, according to the official press release.

Due Diligence 28

Due Diligence Risk Assessment Assessments Financial Crimes 28

Neopay

NOVEMBER 28, 2023

The digital revolution, spearheaded by digital banking, cryptocurrency, artificial intelligence (AI), and digital payment systems, has significantly contributed to the exponential rise in global financial crime compliance costs. As a result, the cumulative financial crime compliance costs have now exceeded an impressive $206 billion.

Financial Crimes 52

Financial Crimes Crime Compliance Money Laundering 52

Finovate

DECEMBER 2, 2024

The workflow includes identification, authentication, and risk screening that provides an overall risk score that enables compliance teams to conduct due diligence and, ultimately, determine acceptance, escalation, or rejection.

Compliance 105

Compliance Acquirers Money Laundering Due Diligence 105

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.

Fincen 65

Fincen Financial Crimes Crime Suspicious Activity Report (SAR) 65

PYMNTS

SEPTEMBER 23, 2019

Financial crimes risk management software company Quantifind and Oracle Financial Services have teamed up to improve anti-money laundering (AML) compliance and to add intelligence and automation properties directly into the compliance workflows, according to a release. “We are excited to announce our collaboration with Oracle today. .

AML 65

AML Compliance Financial Crimes Automation 65

FICO

FEBRUARY 11, 2019

APC Intelidat, the credit bureau in Panama, will soon provide regulatory compliance capabilities to its customers and fight financial crime in Panama with a FICO solution. This is the beginning of our relationship with FICO, which is known worldwide for its risk management and financial crime compliance solutions.

Financial Crimes 40

Financial Crimes Crime Due Diligence Money Laundering 40