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Navigating AML obligations in the age of virtual IBANs

The Payments Association

While vIBANs offer innovation in payment systems, they introduce risks like money laundering due to insufficient oversight. Payment Service Providers must strengthen due diligence, monitoring, and collaboration with regulators to address these risks. This leads to inadequate due diligence. What’s next?

IBAN 88
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UK issues warning on Russian sanctions evasion

Neopay

Indicators for enhanced due diligence The NCA, in collaboration with other government agencies, has outlined red flags to assist businesses in identifying potential illicit activities. Purchases under a letter of credit consigned to the issuing bank: Not to the actual end user, with supporting documents not listing the actual end-user.

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Solving B2B eCommerce Friction At The Intersection Of Payments And Trade Credit

PYMNTS

As B2B eCommerce accelerates its technological innovation, and as adoption grows, it continues to look toward the world of B2C to implement optimized end-user experiences – for both the buyer and the seller.

B2B 104
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Signicat, SurePay Link Up To Combat B2B Payment Fraud

PYMNTS

Payers can obtain feedback about a beneficiary before they make payments and release funds, warning businesses of a discrepancy and the need for further due diligence. Signicat also noted that it will integrate the Dutch electronic identification (eID) to further verify user identities beyond name and address.

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Millennials Reluctant To Give Personal Data, Businesses Depend On It

PYMNTS

Finding that right balance between what financial institutions obviously need to cover from a regulatory perspective and eliminating friction from the end user experience isn’t so easy — especially when many millennials haven’t built up enough of a credit profile for banks to easily make that call. It’s All About The Use Case .

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Factoring Innovation Tackles Its Risky Reputation

PYMNTS

But only in recent years has FinTech innovation stepped into the market — to not only mitigate the risk of a power imbalance between the buyer and supplier, but also to add value for end users. “At the end of the day, you still have to pay attention to things such as due diligence and securitization.

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Sumsub Joins Forces With Finastra to Bolster Compliance Processes, With Focus on Asia-Pacific

The Fintech Times

“We are pleased to partner with Sumsub, following a rigorous due diligence process. ” Increasing regulatory scrutiny in Asia-Pacific The banking sector in Asia-Pacific has been experiencing increasingly stringent regulatory requirements due to the rise of evolved financial crimes.