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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. Why is it important?

IBAN 88
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APAC Sees 23% Decline in Crypto Fraud

Fintech News

This comes as manual and in-house verification struggle to meet the crypto industry’s fast-paced demands. According to a new report by Sumsub, crypto fraud rates declined by a remarkable 23% between 2023 and 2024, positioning APAC as a leader in combating crypto fraud. in 2023 to 2% in 2024. in verification times.

APACS 91
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Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures

The Payments Association

The Home Office outlines six key principles: tone from the top, due diligence, risk assessment, proportionate procedures, monitoring/review, and communication/training. This legislation represents a significant shift in corporate accountability, aiming to strengthen the UKs legal framework against financial crime.

Crime 88
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Navigating legal uncertainty: How the Digital Assets Bill could impact PSPs

The Payments Association

Operational adjustments To address the implications of the Bill and the regulators crypto-regulatory roadmap, PSPs will need to make significant operational adjustments, including enhanced due diligencethe proposals for admissions and disclosures (A&D) and market abuse regimes (MARC). Why is it important?

Legal 88
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Crypto Leaves the Wild West Behind as Regulations Take Over

Fintech News

This includes performing full customer due diligence on clients onboarded before the license was obtained. This new chapter demands real infrastructure: compliance teams, AML protocols, KYC checks, capital buffers, and transparen t reporting. From the U.S. What’s driving this hard stance?

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SaaS Fintech: What’s Next for the Most Powerful Pairing in Finance?

Fintech Review

Users expect intuitive digital experiences, but also demand reliability and protection. This includes due diligence, auditing, and shared responsibilities with financial institutions. SaaS Fintech: The Shift from Tools to Ecosystems The first generation of SaaS fintech platforms focused primarily on digitising individual tasks.

Finance 94
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SaaS Fintech: What’s next for the most powerful pairing in finance?

Fintech Review

Users expect intuitive digital experiences, but also demand reliability and protection. This includes due diligence, auditing, and shared responsibilities with financial institutions. SaaS Fintech: The Shift from Tools to Ecosystems The first generation of SaaS fintech platforms focused primarily on digitising individual tasks.

Finance 52