FICO

FEBRUARY 14, 2017

Nepal is looking to grow its economy and the government recently called for enhanced risk management compliance capabilities to help combat cases of financial crime in the country. In Nepal, we can ill afford for these activities to drain our economy or to destroy business and banking confidence.

Financial Crimes 61

Financial Crimes Crime Compliance Correspondent Bank 61

Fintech News

JUNE 23, 2024

Since the last assessment in 2014, Singapore has closely monitored ML risks, including those related to legal persons, virtual assets, and environmental crimes, to ensure timely risk mitigation.

Money Laundering 109

Money Laundering Risk Crime Law Enforcement 109

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 123

Money Laundering Law Enforcement Financial Crimes Due Diligence 123

The Fintech Times

SEPTEMBER 5, 2024

Crucially, payment systems all over the world reported failures and counting damages across sectors ranging from retail to banking. Let’s take for example, the terminal and the processor, this is a one-way street communication and if either experiences a fault the entire non-cash transaction is no longer available.

Financial Crimes 82

Financial Crimes Mitigation Cybersecurity Crime 82

Fintech News

MAY 20, 2024

Cyber Crimes, Cybersecurity, and Fintech Panel Event May 23, 2024, 12:00 CEST On May 23, 2024, at 12:00 CEST, a panel event titled “Cyber Crimes, Cybersecurity, and Fintech” will be hosted by Peirce College. The session will be moderated by Urs Bolt, a Fintech and Banking Expert.

FinTech 135

FinTech Embedded Finance BNPL On-Demand 135

PYMNTS

FEBRUARY 12, 2020

According to the 2019 edition of the FBI’s Internet Crime Report , last year was both a lucrative and diverse year for cybercriminals and scammers. All in, the FBI’s Internet Crime Complaint Center (IC3) received a total of 467,361 complaints, with reported losses exceeding $3.5

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

Fintech News

MAY 7, 2024

Deputy Prime Minister and Minister for Finance, Lawrence Wong, discussed the potential expansion of the Monetary Authority of Singapore’s (MAS) anti-money laundering platform, COSMIC, to non-banking sectors in a recent response to a parliamentary question.

AML 109

AML Money Laundering Non-Bank Financial Crimes 109

PYMNTS

DECEMBER 18, 2020

18) that the government says would make convertible digital currencies like bitcoin less attractive to criminals engaging in crimes such as ransomware attacks. The proposed limits for reporting digital transactions are $10,000 for non-wire transactions and $3,000 for wire transactions – the same as with cash.

Treasury 141

Treasury Rules Bitcoin Ransomware 141

Fintech News

APRIL 28, 2024

The banking industry is shifting towards innovation, collaboration and customer-centricity, driven by the adoption of technologies including cloud computing, data analytics, artificial intelligence and machine learning (AI/ML), changing customer preferences, and a rapidly evolving regulatory landscape, a new report by Amazon Web Services (AWS) says.

AI 113

AI Innovation Financial Crimes Crime 113

FICO

JANUARY 5, 2021

What else made for the hottest reads in 2020 for fraud and financial crime? Here were our top 5 posts: #1: Fraud And Financial Crime Convergence. TJ Horan reported on a key takeaway from the Aite Financial Crime Forum : lenders are serious about combining their fraud and financial crime protection systems.

Financial Crimes 52

Financial Crimes Crime Posting Scams 52

Fintech News

JULY 17, 2024

The rapid ascent of cryptocurrency has ushered in a new era of financial innovation, but it has also created novel challenges in combating financial crime. The far-reaching study encompasses both crypto-native and non-crypto native methods, as well as strategies for prevention.

Money Laundering 109

Money Laundering Law Enforcement AML Non-Bank 109

The Fintech Times

APRIL 8, 2025

International payments business Caxton has appointed Roger Bracken to its board in the position of non-executive director. Lee Dunne has been appointed as the new head of banking by European financial technology provider payabl. Lee Dunne has been appointed as the new head of banking by European financial technology provider payabl.

FinTech 59

FinTech Settlement AI Non-Bank 59

The Fintech Times

JANUARY 30, 2025

Partnerships and collaborations Banco Sabadell has unveiled a strategic alliance with Snowdrop Solutions, a geolocation-based technology services company, to enhance the customer experience within the bank’s app.By The Bank of America Corporation board of directors has appointed Maria Martinez as a director.

FinTech 64

FinTech Reconciliation Financial Crimes Audit 64

FICO

OCTOBER 8, 2018

With financial crime on the rise, it’s worth noting the firms that are succeeding in the fight. One of these is Belgazprombank , a leading lender in Belarus, which implemented a system from FICO that screens financial transactions and customers in order to prevent financial crime in Eastern Europe.

Financial Crimes 40

Financial Crimes Crime Database Non-Bank 40

Neopay

OCTOBER 3, 2024

The recent £29 million fine imposed on Starling Bank by the Financial Conduct Authority (FCA) for financial crime failings offers important lessons for businesses in the e-money and payments industry. For more details, you can read the FCA’s Final Notice on Starling Bank’s failings here.

Financial Crimes 59

Financial Crimes Crime Due Diligence Compliance 59

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

The Fintech Times

JUNE 1, 2024

Financial crime continues to grow, seemingly exponentially, with fraud damages expected to hit $10.5trillion annually by 2025 , a drastic rise from $3trillion in 2015. To reduce the scale of the crime that is happening we need a unified approach, and this future service will be a major step forward.”

SWIFT 124

SWIFT AI Fraud Detection Fraud Prevention 124

FICO

AUGUST 12, 2021

Financial Institutions’ compliance officers and teams should be concerned that Open Banking may render their existing AML/CTF and KYC compliance programs inadequate. Open banking is evolving around an ecosystem of third-party providers (TPPs). What is Open Banking? Customer data screen-scraping widespread.

Financial Crimes 52

Financial Crimes Compliance Crime Risk 52

Fintech Finance

JULY 2, 2024

This is according to the first findings of an in-depth financial crime survey by The Payments Association , which champions innovation and collaboration across the industry, due for full publication later this month. Often, APP fraud attempts can be as simple as a text claiming to be from a bank asking for funds to be transferred.

Scams 98

Scams Financial Crimes Crime Payments 98

The Fintech Times

APRIL 8, 2024

This April, The Fintech Times is focusing on all things embedded finance, the integration of financial services into non-financial products and services. First, we turn our attention to the growth of Banking-as-a-Service (BaaS). “Do they have a banking licence that means their customers’ money is protected up to a certain level?

FinTech 116

FinTech BSA Regulatory Compliance Money Laundering 116

The Fintech Times

OCTOBER 5, 2024

The booming popularity of neobanks following the pandemic saw people, both good and bad, flock to them, however, one notable name has failed to tackle financial crime and as a result is now facing a hefty fine from the Financial Conduct Authority (FCA). Starling’s growth has been meteoric from 43,000 customers in 2017 to 3.6

Financial Crimes 83

Financial Crimes Crime Compliance Money Laundering 83

The Payments Association

MAY 3, 2025

But open banking has struggled due to inconsistent API access from incumbent banks. As non-financial platforms increasingly offer financial services under their own names, she pointed out, this raises significant regulatory challenges. When PIS was introduced, it seemed like the future, she remarked.

Payment APIs and Integration 88

Payment APIs and Integration Cross-Border Embedded Finance Payments 88

PYMNTS

JANUARY 31, 2019

moves from an antiquated, check-based system to more real-time systems, you haven’t got weeks or months – you have to check immediately if there is a threat,” explained Charles Delingpole, CEO of anti-financial crime technology platform Mimiro. banks, separate data revealed. . “As the U.S. trillion in the U.S.

Faster Payments 73

Faster Payments Money Laundering Same Day ACH AML 73

FICO

JANUARY 19, 2022

From TBML to BNPL to NFTs, 2021 found fraud and financial crime professionals dealing with a plethora of new challenges and criminal schemes. Our five most popular posts of the year dealt with trade-based money laundering, non-fungible tokens, buy now pay later scams, courier scams and good old credit card fraud. Here are excerpts.

Financial Crimes 52

Financial Crimes Crime Money Laundering NFTs 52

The Fintech Times

SEPTEMBER 2, 2024

As economic crime continues to rise, the UK fintech industry is taking significant steps to address this growing challenge. Crime impact Economic crime has now reached such huge proportions that it acts as a significant drag on UK growth. That blue-chip line-up underlines just how seriously industry is taking this problem.

Crime 72

Crime Verification Fraud Detection Innovation 72

PYMNTS

MARCH 25, 2019

When it comes to financial crime, it seems, the bad guys are getting away with financial murder. The implication, then, is that financial institutions are not doing what they could or should do to detect and prevent financial crimes. Even staggering. And what these firms are doing doesn’t seem to be working.

AML 78

AML Financial Crimes Money Laundering Crime 78

Finovate

AUGUST 9, 2024

. “GCash is an indispensable infrastructure for everyday life of Filipinos and we are delighted to join Mynt as a strategic investor to support the growth of the company,” MUFG Senior Managing Corporate Executive, Head of Global Commercial Banking Business Group Yasushi Itagaki said.

Electronic Funds Transfer (EFT) 106

Electronic Funds Transfer (EFT) Cross-Border Payments Financial Inclusion Cross-Border 106

PYMNTS

MARCH 15, 2019

As a major player in cross-border banking and global finance, the country doesn’t just need to combat domestic financial crimes: It is also at risk of becoming a hub for transmitting and investing criminal funds obtained overseas. . banks and their subsidiaries every year. It is actually impossible in the U.K.,

Money Laundering 65

Money Laundering AML Non-Bank Regulations 65

The Fintech Times

AUGUST 17, 2024

The US subsidiary of a Canadian bank was issued a fine of $65million for unsafe practices related to operational, compliance, and strategic risk management controls. The bank was ordered to pay the fine to resolve investigations by The Office of the Comptroller of the Currency (OCC), an independent bureau of the US Department of the Treasury.

APACS 59

APACS Suspicious Activity Report (SAR) Office of the Comptroller of the Currency Financial Crimes 59

The Fintech Times

MAY 28, 2025

From AI-driven compliance to the realities of scaling in the cloud, Temenos shares insights into whats influencing payments strategy in 2025, and where banks are still hitting resistance. The same study found 46 per cent of banking leaders now prioritise customer experience when it comes to tech investment. In that way.

Compliance 45

Compliance Payment APIs and Integration Payments AI 45

FICO

MAY 20, 2021

I’m very pleased to announce the release of the FICO® Falcon® Fraud Manager Retail Banking Consumer v3.0 model, which adds a Scam Detection Score to Falcon’s existing third-party fraud detection score for retail banking transfers. But this may not be enough, as pressure is mounting for reimbursement to be mandatory for all banks.

Scams 52

Scams Financial Crimes Non-Bank Crime 52

PYMNTS

DECEMBER 4, 2018

European Union finance ministers worked out a plan for combating money laundering and also made a deal on major bank reform on Tuesday (Dec. The money laundering plan is a response to highly visible cases of alleged criminal activity at EU banks in countries such as Malta, the Netherlands, Britain, Estonia and others.

Money Laundering 57

Money Laundering Non-Bank Financial Crimes Rules 57

FICO

NOVEMBER 22, 2017

According to the United Nations Office on Drugs and Crime, the estimated amount of money laundered globally in one year is as much as 5% of global GDP, or $2 trillion. To tackle this menace, regulators have slapped fines on banks who fail to stop money laundering. It’s not that banks haven’t put in controls to tackle this menace.

AML 78

AML AI Money Laundering SARS 78

PYMNTS

SEPTEMBER 11, 2019

Jamal El-Hindi, the deputy director of the Financial Crimes Enforcement Network (FinCEN), spoke at the 2019 Money Transmitter Regulators Association Annual Conference on Wednesday (Sept. 11) about the importance of innovation and the regulation of non-banking financial institutions (NBFI), according to a release.

Fincen 46

Fincen Non-Bank Money Laundering AML 46

Finovate

MARCH 7, 2025

As a proliferation of payment options promises to streamline banking and commerce, regulators, fintechs, and financial services companies are looking for ways to make sure that the challenges to these new payment optionsfrom technical complexity to new forms of fraud and financial crimeare met. And then trust.

Payments 52

Payments Push-to-Card Online and Mobile Banking P2P 52

The Payments Association

JANUARY 31, 2025

While this requirement has been a cornerstone of AML and CTF efforts, its implementation has traditionally focused on the banking sector, which operates within well-defined regulatory frameworks. On the one hand, the FATFs extension of the Travel Rule to cryptoassets demonstrates its commitment to modern financial crime prevention.

Travel Rule 88

Travel Rule Wire Transfer Rules Compliance 88

FICO

JANUARY 7, 2019

Because organized crime schemes are so sophisticated and quick to adapt, defense strategies based on any single, one-size-fits-all analytic technique will produce sub-par results. Each transaction is tagged as either fraud or non-fraud. In the first post, TJ discussed the use of supervised and unsupervised models. Read the full post.

Posting 74

Posting AI Fraud Detection Security 74