Stax

JANUARY 23, 2025

Ensure regulatory compliance by adhering to anti-money laundering (AML) laws and Know Your Customer (KYC) requirements. Speed vs. accuracy: Streamlining processes without compromising due diligence. Protect financial stability by avoiding potential financial losses from high-risk businesses.

Underwriting 68

Underwriting PCI DSS Money Laundering Processors 68

EBizCharge

JUNE 23, 2025

But here’s the catch: surcharge rules are a patchwork of federal guidelines, state laws, and card network rules. That distinction is important because surcharges are more tightly regulated by both card networks and state laws. Today, surcharge rules are shaped by a mix of card brand requirements and state-level laws.

Credit Cards 52

Credit Cards Legal Card Network Rules Point-of-Sale (POS) 52

The Payments Association

JULY 15, 2025

Automation and enhanced due diligence received more modest attention at 18% and 5% respectively. Law enforcement engagement attracted minimal attention at only 5% of organisations, suggesting limited formal information exchange between the private sector and official agencies.

Financial Crimes 88

Financial Crimes Crime Fraud Prevention Deepfake 88

The Payments Association

JULY 18, 2025

In the UK, the implementation of landmark fraud prevention laws and the expansion of the cryptoasset regulatory perimeter mark a decisive shift towards greater accountability. The offence, modelled on similar provisions in anti-bribery and tax evasion law, applies regardless of whether senior management was aware of the misconduct.

Regulations 88

Regulations Payments Payment APIs and Integration Legal 88

Finovate

JANUARY 24, 2025

Even critics who argue the law is either too sweeping or too narrow recognize that engaging with regulators and key stakeholders is often the smarter path. Additionally, weak credit checks and poor due diligence practices heighten the risk of users falling into financial overextension.

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. The guidance also clarifies that former PEPs must continue to be treated as such for a period of 12 months after leaving office.

Money Laundering 52

Money Laundering Due Diligence Risk Risk Assessment 52

PYMNTS

SEPTEMBER 4, 2018

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. The 100 million euro disgorgement represents an amount equal to underspend on staffing and due diligence policies.

Due Diligence 46

Due Diligence Money Laundering Law Enforcement Settlement 46

FloQast

MAY 2, 2024

Listeners gain valuable lessons in ethics, due diligence, and professional skepticism, making it a compelling exploration for finance professionals. More than a narrative of past misdeeds, “The Fraud Files” offers insights into the mechanics of fraud and its consequences.

Crime 105

Crime Due Diligence Advisors Agreements 105

PYMNTS

SEPTEMBER 22, 2020

A bank providing services in support of a stablecoin project must comply with all applicable laws and regulations and must ensure that it has instituted appropriate controls and conducted sufficient due diligence commensurate with the risks associated with maintaining a relationship with a stablecoin issuer,” Gould wrote. .

Office of the Comptroller of the Currency 138

Office of the Comptroller of the Currency OCC Stablecoins Due Diligence 138

Fintech News

OCTOBER 6, 2024

One major focus is on proactive prevention, where the IMC advocates for tighter regulations on corporate service providers and enhanced due diligence for non-financial sectors vulnerable to exploitation by money launderers.

Money Laundering 123

Money Laundering Law Enforcement Due Diligence Financial Crimes 123

Neopay

APRIL 22, 2024

The UK’s company law landscape underwent significant changes with the enactment of the Economic Crime and Corporate Transparency Act, effective from 4th March 2024. The post Changes to UK company law appeared first on Neopay. Here is a summary of what you need to know about the new measures.

Laws 52

Laws Due Diligence Law Enforcement Crime 52

Stax

NOVEMBER 27, 2023

KYC’s three main components are the customer identification program (CIP), which was imposed by the USA Patriot Act in 2011; customer due diligence (CDD); and regular monitoring of the customer’s account and activities, which is also called enhanced due diligence (EDD). In the U.S.,

Due Diligence 88

Due Diligence Money Laundering AML Financial Crimes 88

PYMNTS

FEBRUARY 7, 2019

food retail market with the adoption of the Food Safety Modernization Act (FSMA), introduced by legislators in 2009 and signed into law in 2011. ” For food retailers with thousands — or even tens of thousands — of supplies, due diligence is far from simple. . regulations, even if a vendor is not in the U.S.

Compliance 65

Compliance Due Diligence Blockchain Audit 65

The Payments Association

JANUARY 29, 2025

Inadequate risk management and due diligence : Institutions faced challenges in ensuring effective customer risk profiling and due diligence, particularly for high-risk clients and correspondent banking relationships. For enquiries, please contact us at 0207 436 0630 or via email at info@thistleinitiatives.co.uk.

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

PYMNTS

JULY 15, 2020

The ruling also noted due diligence was conducted by two law firms, London-based Osborne Clarke and BTG Legal in Mumbai on behalf of the plaintiffs, FT reported. “To The judge also found that the involvement of the Mauritius’ Emerging Markets Investment Fund (EMIF) was not a reason to suspect fraud. “As

Due Diligence 64

Due Diligence Money Laundering Laws Legal 64

PYMNTS

JULY 2, 2018

California’s new consumer privacy law is facing a backlash from businesses around the U.S. which contend the law will hurt all sorts of companies, whether it’s retailers or customer loyalty programs. French said other personalized marketing campaigns and apps that use location data could also be at risk of going away thanks to the law.

Laws 40

Laws Privacy Due Diligence Breach 40

PYMNTS

JULY 24, 2020

A traditionally manual process involving PDF questionnaires, supplier due diligence is rarely at the top of the list when organizations are considering where to place their resources to invest in new, automated technology. So it’s not exactly surprising that supply chain risk mitigation efforts can fall by the wayside.

Risk 70

Risk Due Diligence Risk Mitigation Mitigation 70

PYMNTS

AUGUST 5, 2019

But federal law still views marijuana as an illegal substance, which prevents most financial institutions, payment card networks and other providers from taking part in those sales. The most rigorous due diligence is done during the onboarding stage,” Cohen said, referring to the creation of new merchant accounts. The good news?

Due Diligence 65

Due Diligence Money Laundering Best Practices Laws 65

PYMNTS

SEPTEMBER 21, 2020

As BuzzFeed reported, “laws that were meant to stop financial crime have instead allowed it to flourish. In terms of dollar amounts, Deutsche led the pack at $1.3 trillion in suspicious transactions; J.P.Morgan followed with $514 million and Standard Chartered logged $166 million. The headlines blare a chorus: Banks are not doing their jobs.

Fincen 139

Fincen AML Suspicious Activity Report (SAR) SARS 139

Stax

DECEMBER 4, 2023

TL;DR An anti-money laundering (AML) program is a set of laws and procedures that seek to uncover attempts to disguise illicit money as legitimate. An anti-money laundering (AML) program is a set of laws and procedures that seek to uncover attempts to disguise illicit money as legitimate. Let’s get started.

Money Laundering 88

Money Laundering Compliance AML BSA 88

PYMNTS

DECEMBER 10, 2020

Still, it was a wake-up call for the industry, showing that such lapses could result in significant fees and criminal prosecution if basic due diligence is not followed. . s executives avoided potential jail sentences. However, cutting corners on these processes also comes at a price, with up to $3.9 million by 2025.

Due Diligence 80

Due Diligence Online and Mobile Banking BSA Federal Reserve 80

Fintech News

JULY 17, 2024

The HKMA concluded that the bank failed to continuously monitor business relationships, conduct enhanced due diligence in high-risk situations for a period, and maintain proper records for some customers. Monero transactions have risen steadily, with a notable spike in March 2024 due to a spam event called Black Marble.

Money Laundering 109

Money Laundering Law Enforcement AML Non-Bank 109

The Payments Association

OCTOBER 22, 2024

Nonetheless, the interaction of segregation requirements and insolvency law is often a key focus on insolvencies and has been subject to significant consideration by the courts, including by the Supreme Court concerning the insolvency of Lehman Brothers International (Europe).

Consulting 88

Consulting Rules Treasury Due Diligence 88

Stax

AUGUST 22, 2024

Thorough due diligence, technology, and adherence to regulatory guidelines are essential in a PayFac’s risk management strategy. You need thorough due diligence, technology, and adherence to regulatory guidelines in your risk management strategy. The due diligence doesn’t stop at onboarding.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Segpay

MARCH 24, 2025

This article will help you gain a better understanding of gaming and gambling laws in Down Under. KYC & Customer Due Diligence (CDD) Australia: Risk-based approach, with minimum KYC checks under the AML/CTF Rules. Licensed sports betting and lotteries are legal but must comply with state regulations and AUSTRAC AML laws.

Compliance 71

Compliance Suspicious Activity Report (SAR) Fincen AML 71

Stax

JANUARY 8, 2024

Not only must PayFacs safeguard themselves and their clients against potential threats like fraud or cybersecurity breaches but also ensure PCI compliance , customer due diligence, and adherence to card regulations. could result in financial losses, litigations, law enforcement action, and damage to reputation.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

Neopay

MARCH 15, 2024

Key themes of the consultation include: Proportionate customer due diligence: Streamlining and enhancing customer due diligence processes to strike a balance between effectiveness and proportionality.

Money Laundering 52

Money Laundering Consulting Treasury Regulations 52

FICO

NOVEMBER 20, 2017

The sensitive documents originate from the offshore law firm Appleby , two other corporate services providers and the company registries of 19 tax havens. Ultimate beneficial ownership (UBO) identification and verification needs to become an essential component of customer onboarding and ongoing customer due diligence (CDD) processes.

Due Diligence 49

Due Diligence Database Money Laundering Financial Crimes 49

Seon

JUNE 29, 2023

As such, it is part of an organization’s due diligence. Transactions that can be linked to terrorist financing can be elevated from conventional AML due diligence to advanced AML due diligence. It can assist law enforcement investigations. KYT is a regulatory compliance requirement.

Transactions 52

Transactions Due Diligence Money Laundering AML 52

PYMNTS

OCTOBER 22, 2020

A press release said the defendants violated Amazon’s sales policies and the law while infringing upon Childress’ intellectual property rights. We appreciate the partnership with Amazon and hope our joint action will hold all bad actors accountable, as well as educate other small businesses to take due diligence in protecting their brands.”.

Due Diligence 58

Due Diligence Small Business Crime Origination 58

PYMNTS

MARCH 19, 2018

Earlier in the month, in Mexico, laws governing FinTech became official , creating a framework that sets in place rules for cryptos and other sectors within finance. The law sets the stage for open banking and for sharing data across APIs. The bill was approved by the Senate late last year.

Due Diligence 49

Due Diligence Law Enforcement Online and Mobile Banking Laws 49

Neopay

FEBRUARY 7, 2024

This injustice not only undermines democracy and the rule of law but also worsens social inequality, leaving vulnerable groups without any means to seek justice. Sub-Saharan Africa: Maintaining the lowest average score at 33, Sub-Saharan Africa faces significant challenges to democracy and the rule of law.

Due Diligence 59

Due Diligence Laws Rules Risk Assessment 59

CB Insights

FEBRUARY 21, 2019

Due Diligence and Financial Evaluation Process. We consider several areas that could benefit from the use of blockchain technology below, from due diligence to financing systems. Due Diligence and Financial Evaluation Process. These factors can be costly and slow down the due diligence process.

Blockchain 78

Blockchain Due Diligence Legal Transactions 78

PYMNTS

JULY 6, 2017

This came after Snapdeal opened its books to Flipkart in May for the larger company to perform due diligence on the $1-billion estimation it had stated in a non-binding term sheet. Auditor Ernst & Young and law firm Khaitan & Co. performed the due diligence, and it came up clean.

Due Diligence 40

Due Diligence Laws Digital Payments Continuity 40

The Fintech Times

FEBRUARY 4, 2024

In May 2023, a group of paytech representatives called on legislators to ensure a fair playing field for all fintech providers and their obligations to performing customer due diligence (CDD) as the EU anti-money laundering regulation was discussed.

AML 59

AML Payer Regulations Due Diligence 59

PYMNTS

DECEMBER 10, 2018

To comply with anti-money laundering laws, banks have to collect information on their clients and their businesses and financial activities, as well as engage in additional due diligence and monitoring of clients that are deemed a high risk. In a statement on Saturday (Dec.

Due Diligence 51

Due Diligence Money Laundering Legal Laws 51

PYMNTS

APRIL 28, 2019

The draft report that the European Banking Authority voted to reject pointed to four breaches of EU law in how Danske Bank was supervised by Danish and Estonian authorities. He called on the EU commission to go after Denmark and Estonia for not following EU laws.

Money Laundering 43

Money Laundering Due Diligence Authorization Laws 43