Bad actors targeting fintech aggregators: Fincen chief
Payments Source
SEPTEMBER 24, 2019
Kenneth Blanco expressed concern in a speech about cyber criminals using "synthetic identities" to commit fraud with data stolen from fintech platforms.
Payments Source
SEPTEMBER 24, 2019
Kenneth Blanco expressed concern in a speech about cyber criminals using "synthetic identities" to commit fraud with data stolen from fintech platforms.
PYMNTS
JULY 15, 2019
Libra will register with the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) as a money services business, Marcus said in the statement. Data security, money laundering and consumer protections are among the many concerns of policymakers.
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PYMNTS
OCTOBER 10, 2019
Companies will need to disclose their parent entities to the Financial Crimes Enforcement Network (FinCEN) under the rule. These banks need to make sure that they are keeping abreast of how data security needs are changing, and how they can best shield their platforms against laundering and other attacks using tools they might not see coming.
Stax
JANUARY 8, 2024
Several US legislations (like the Patriot Act, anti money laundering laws , or FinCEN regulations) require PayFacs to know the identities of the business owner(s) they plan to facilitate payments for, during the underwriting stage. Data security and breach-prevention practices All payment systems run on information.
PYMNTS
DECEMBER 18, 2018
Those agencies include the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Financial Crimes Enforcement Network (FinCEN) and the National Credit Union Administration.
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