The Payments Association

DECEMBER 18, 2024

Moore discusses how the PSR is working to enhance user experience, combat financial crime through smarter data sharing, and foster collaboration across the payments ecosystem. Key areas of focus include emerging payment technologies such as blockchain, distributed ledger technology, and central bank digital currencies.

Innovation 88

Innovation Financial Crimes Payments Regulations 88

PYMNTS

MARCH 30, 2020

The Banque de France is seeking applications “to experiment with a central bank digital currency for interbank settlements,” according to an announcement from the French central bank. ” The submission deadline for digital applications is May 15. .”

CBDC 98

CBDC Interbank Settlement Digital Currency Central Bank 98

PYMNTS

MAY 19, 2020

has been named general counsel to the Libra Association , a Geneva-based group founded by Facebook to launch the social media company’s digital currency, the organization announced Tuesday (May 19). He also headed financial crime compliance for Merrill Lynch. Previously, Werner worked at the U.S.

Treasury 90

Treasury Financial Crimes Crime Fincen 90

Fintech News

JANUARY 30, 2024

Other payment trends in Asia preceding 2024 including the rise of B2B buy now pay later (BNPL), growing prominence of central bank digital currency (CBDC), and prevalence of composable, cloud-based ‘as-a-Service’ IT architecture models have helped shape much of what we anticipate for 2024. billion.

Payments Trends 120

Payments Trends Digital Currency Cross-Border Payments Distributed Ledger Technology (DLT) 120

Fintech Finance

SEPTEMBER 24, 2024

These cover financial crime, regulation, open banking, ESG, cross-border payments, digital currencies and financial inclusion. The Manifesto describes the 66 policies recommended by the 216 payments professionals who participate in The Payments Association’s stakeholder working groups.

Cross-Border Payments 95

Cross-Border Payments Financial Inclusion Cross-Border Payments 95

PYMNTS

APRIL 28, 2020

Richard Weber has been named to the position of general counsel at the New York State Department of Financial Services (DFS), according to an announcement from Superintendent of Financial Services Linda A. He also had previously served as Deutsche Bank’s head of Anti-Financial Crime for the Americas. dollar and Euro.

Bitcoin 67

Bitcoin Financial Crimes BSA Digital Currency 67

Neopay

FEBRUARY 5, 2025

Effective competition and innovation to meet customers needs The FCA acknowledges the ongoing evolution in payments, particularly through Open Banking, Open Finance, and digital currencies. While it supports innovation, it stresses that products and services must deliver good customer outcomes.

Fraud Prevention 52

Fraud Prevention Financial Crimes Compliance Payments 52

Fintech Finance

MARCH 3, 2025

The Manifesto , Creating the Conditions to support Growth and Innovation in Payments, describes the 66 policies recommended by the 216 payments professionals working across financial crime, regulation, open banking, ESG, cross-border payments, digital currencies and financial inclusion.

Governance 80

Governance Government Innovation Cross-Border Payments 80

PYMNTS

AUGUST 3, 2020

The Financial Crimes Enforcement Network (FinCEN) issued a press release warning financial institutions (FIs) and consumers about pandemic-related scams, including some connected to cryptocurrency. That could include talking about ways to make money through digital currency schemes like cryptocurrency.

Fincen 88

Fincen Scams Email Compromise Consumer 88

Fintech Finance

DECEMBER 9, 2024

AGENDA HIGHLIGHTS: The Next Generation of Payments Enhancing Convenient and Secure Access to Financial Services The Next Digital Revolution Global Mobile Wallets and Super-apps Blockchain and Cryptocurrency Adoption Cross-Border Payment Innovations The Future of Financial Crime Levels of Connection – 2.0

Office of the Comptroller of the Currency 95

Office of the Comptroller of the Currency Financial Crimes BSA Cross-Border Payments 95

PYMNTS

FEBRUARY 21, 2020

The Financial Crimes Enforcement Network (FinCEN) has announced Michael Mosier as its new digital innovation officer and deputy director. Mosier returns to FinCEN from Chainalysis, the digital currency analytics, investigations and compliance company, where he served as chief technical counsel.

Fincen 100

Fincen Innovation OFAC Money Laundering 100

The Payments Association

DECEMBER 9, 2024

Q3 : FCA consultation paper on conduct and firm standards for RAO activities, including systems and controls, operational resilience, financial crime, consumer duty, complaints, conduct and governance. Q3 : FCA consultation paper on admissions, disclosures, and market abuse.

Stablecoins 88

Stablecoins Rules Consulting Regulations 88

PYMNTS

NOVEMBER 2, 2020

Plus, Surecomp has introduced financial crime solution ThetaRay as its latest partner for its marketplace platform. As smaller companies struggle financially because of the coronavirus, extended revenue shortfalls could impact the millions of people who work for them, the Fed said in announcing the new terms.

Debit Card 59

Debit Card Fed Federal Reserve Financial Crimes 59

Finextra

JANUARY 23, 2024

The Bank for International Settlements (BIS) today announced the first batch of six new projects in its 2024 Innovation Hub work programme, including experimentations on cyber security, fighting financial crime, central bank digital currencies (CBDCs) and green finance.

Innovation 49

Innovation Financial Crimes Digital Currency Central Bank 49

The Payments Association

OCTOBER 14, 2024

The flaws in prevailing central bank digital currency (CBDC) designs and suggestions for improving them. These design flaws could undermine efforts to create a public digital payments system for the future economy. What is this article about? Why is it important? What’s next?

Privacy 88

Privacy Addressing CBDC Payer 88

PYMNTS

OCTOBER 7, 2020

Attorney’s Office for the Southern District of New York charged four operators of a purported international digital-currency “Ponzi scheme” with money laundering and fraud. As PYMNTS’ Preventing Financial Crimes Playbook recently noted, the U.S. A month earlier, the U.S. The Pandemic Is Making Scams Worse .

Bitcoin 93

Bitcoin Consumer Cryptocurrency Scams 93

FICO

DECEMBER 17, 2020

As digital currencies grow, criminals are taking advantage of the emerging technology. Anti-financial crimes regulations require banks to enact robust risk management frameworks, including extensive KYC due diligence, integrated safeguards for AML transaction monitoring, and sanctions screening. This includes $2.8

Cryptocurrency 52

Cryptocurrency Risk Financial Crimes Crime 52

PYMNTS

AUGUST 17, 2020

Plus, the Federal Reserve is working with MIT to explore the use of digital currency. California Proposes Financial Watchdog Agency. Fed Exploring ‘Hypothetical’ Digital Currency With MIT. Germany Launches Investigation Into Amazon. Just Eat Takeaway to End Its Gig Worker Model.

Federal Reserve 59

Federal Reserve Digital Currency Financial Crimes Fed 59

PYMNTS

JUNE 22, 2020

Vinnik, who’s currently held in France but wanted in the United States and his native Russia, allegedly laundered billions of dollars through BTC-e, one of the world’s largest digital-currency trading exchange, the Associated Press reported Monday (June 22). Gox, the bitcoin exchange based in Japan. authorities, AP reported.

Bitcoin 72

Bitcoin Money Laundering Crime Financial Crimes 72

PYMNTS

SEPTEMBER 30, 2020

Jumio Bolsters Financial Crime Detection Capabilities With Beam’s AML Platform. Jumio said it intends to integrate the AML screening and transaction monitoring offerings of Beam into its KYX platform to assist in flagging financial crime and simplifying regulatory compliance. The news follows Jumio’s Sept.

Fincen 52

Fincen Financial Crimes AML Card Issuer 52

The Payments Association

MAY 3, 2025

We need coordinated, cross-industry action, she urged, suggesting that this might even require a new national body dedicated to combatting financial crime. While policy efforts have so far focused on consumer reimbursement, she called for a stronger focus on prevention.

Payment APIs and Integration 88

Payment APIs and Integration Cross-Border Embedded Finance Payments 88

PYMNTS

AUGUST 18, 2019

Waters has been a vocal critic of the social media giant’s plans for its own digital currency. Carolyn Maloney, Lacy Clay, Al Green and Stephen Lynch — who wrote a letter calling for Facebook to stop its plans, citing risks to security, financial stability and the control the U.S. Last month she — along with Reps.

Financial Crimes 69

Financial Crimes Digital Currency Crime Cryptocurrency 69

PYMNTS

OCTOBER 11, 2018

Late last year, the Australian Senate passed legislation extending AML and counter-terrorism financing regulation of digital currency exchanges. Government officials had previously blamed the growth in online banking, and digital currencies like bitcoin, for the huge increase in organized crime in the country’s financial sector.

Central Bank 43

Central Bank AML Money Laundering Regulations 43

PYMNTS

OCTOBER 19, 2020

Earlier this month, The Bank of Russia had released a report on a potential rollout of the digital ruble. 19) announcement.

Fincen 53

Fincen Mitigation Risk AML 53

Fintech News

DECEMBER 10, 2023

This approach not only serves to advance financial inclusion but also acts as a robust deterrent against the risks associated with money laundering. The evolving payment landscape Edward underscored that the payment landscape continually evolves, with innovations such as central bank digital currencies (CBDCs) gaining prominence.

Addressing 120

Addressing Fraud Prevention Financial Inclusion Payments 120

The Fintech Times

FEBRUARY 24, 2024

Many cryptocurrency exchanges (CEXs) that facilitate trades between users of various digital currencies have often come under fire for mismanaging money, or engaging in unlawful activity. Meanwhile, the US boasts more top CEXs registered with the Financial Crimes Enforcement Network (FinCEN) than any other country.

Fincen 69

Fincen Financial Crimes Regulations Digital Currency 69

PYMNTS

JULY 30, 2019

In a hearing titled “Examining Regulatory Frameworks for Digital Currencies and Blockchain,” the United States Senate Banking Committee heard from industry participants and analysts, with a common refrain that potential and risk are in the offing, and new regulations are needed. In crypto, only a few trust?

Digital Currency 56

Digital Currency Money Laundering Data Breach Privacy 56

Fintech News

JANUARY 24, 2024

In May 2023, the MAS released a Consultation Paper on amendments to the Payment Services Regulations 2019, introducing new measures for Digital Payment Token (DPT) services, including a requirement for customer asset safekeeping under statutory trust. The company is headquartered in Boston, Massachusetts.

Service Provider 98

Service Provider Cryptocurrency Payments Institute Blockchain 98

PYMNTS

JULY 15, 2019

“The Libra Association, which will manage the (Libra) Reserve, has no intention of competing with any sovereign currencies or entering the monetary policy arena,” Marcus said in a prepared testimony posted by the Senate Banking Committee. Monetary policy is properly the province of central banks.”.

Money Laundering 46

Money Laundering Regulations Fincen Cryptocurrency 46

PYMNTS

AUGUST 28, 2017

The FT also noted this past week that under proposed reform being brought before lawmakers, digital currency operations, such as exchanges, would fall under the regulatory purview of AUSTRAC, the agency that investigates and battles financial crime. China and Clearing House Efforts. China and Clearing House Efforts.

Cybersecurity 57

Cybersecurity Money Laundering Digital Currency Online and Mobile Banking 57

Finance Magnates

JANUARY 16, 2023

Some states may also require businesses to obtain a license from the Financial Crimes Enforcement Network (FinCEN), a bureau of the US Department of Treasury. The license is used by businesses such as money transfer companies, payment processors, and digital currency exchanges.

Fincen 52

Fincen Financial Crimes Digital Currency Crime 52

PYMNTS

NOVEMBER 12, 2018

According to Coindesk , Manuel Quevedo, the country’s minister of petroleum and the president of state-owned oil company PDVSA, revealed that Venezuela will take petro to the Organization of the Petroleum Exporting Countries (OPEC) in 2019, as the “main digital currency backed by oil.”.

Scams 71

Scams Money Laundering Digital Currency Cryptocurrency 71

Fintech News

AUGUST 13, 2024

The region is leading the way with initiatives such as real-time cross-border payment linkages and the exploration of multi-central bank digital currency (CBDC) settlements. In the context of fast payment networks like Nexus, there is a lot of data generated through the transactions,” Yip said.

Cross-Border Payments 127

Cross-Border Payments Cross-Border Payments Instant Payments 127

FICO

NOVEMBER 15, 2021

We asked them about the kind of financial crime that was worrying to them. For comparison, slightly more people were worried about a pickpocket stealing their wallet or purse and 31% were worried about a fraudster using information about them to takeover one of their financial accounts.).

Scams 105

Scams Romance Scams Crime Fraud Prevention 105

PYMNTS

OCTOBER 2, 2018

“This sort of activity is rampant in the market right now,” Andy Bromberg, co-founder and president of CoinList, a startup platform for issuing new digital tokens, told The Wall Street Journal. ” He said that earlier this year, Virgil Capital lost money on ether trades due to a bot.

Bots 72

Bots Cryptocurrency Digital Currency Scams 72

PYMNTS

FEBRUARY 16, 2018

Over two months in the fall of 2017, Kim allegedly misappropriated at least $2 million of the firm’s digital currency for his own benefit. The Department of Justice said the punishment for financial crime is high. Kim had worked for Consolidated Trading LLC, which recently formed a cryptocurrency group.

Bitcoin 41

Bitcoin Financial Crimes Cryptocurrency Crime 41

PYMNTS

MARCH 3, 2020

“These charges should serve as a reminder that law enforcement, through its partnerships and collaboration, will uncover illegal activity here and abroad, and charge those responsible for unlawful acts and seize illicit funds even when in the form of virtual currency.”. The money was then washed via eCurrency transactions.

Law Enforcement 56

Law Enforcement Money Laundering IRS OFAC 56