Fintech News

JUNE 5, 2025

MASs Regulatory Calculus MASs decision to act decisively now is grounded in its growing concern over the money laundering and terrorism financing risks posed by such operations, especially so given their cross-border and internet-based natures. This means DTSPs are not allowed to rely on them to carry out customer due diligence.

Money Laundering 81

Money Laundering Due Diligence Cross-Border Rules 81

Fintech News

OCTOBER 8, 2024

The aim is to mitigate the risks associated with such businesses. These include maintaining a minimum capital of S$ 250,000 and adhering to stringent AML/CFT obligations, such as conducting customer due diligence, monitoring transactions, and reporting suspicious activities.

Service Provider 108

Service Provider Due Diligence AML Money Laundering 108

PYMNTS

JUNE 17, 2020

The bank stands accused of failing to assess money laundering and terrorism financing risks; regulators said record-keeping was faulty and the company failed to monitor customer due diligence on transactions that may have been tied to child exploitation and endangerment. “There was no evidence of intentional wrongdoing.”.

AML 75

AML Money Laundering Compliance Financial Crimes 75

PYMNTS

NOVEMBER 30, 2017

First, there’s the Capture product, which optimizes the due diligence portion of the onboarding process, Lam explained. Second, there are the risk management technologies, including the cyberspace crawler that automatically reads and analyzes social posts about the merchant.

Due Diligence 46

Due Diligence AI Risk Management Blocks 46

Fintech News

JANUARY 24, 2024

The move aims to protect against financial crime and loss, particularly in digital fraud, and includes broadening DPT service definitions and enhancing Anti-Money Laundering (AML) protocols such as Customer Due Diligence and transaction monitoring.

Service Provider 98

Service Provider Cryptocurrency Payments Institute Blockchain 98

Global Fintech & Digital Assets

NOVEMBER 7, 2023

The SFC notes the potential benefits of tokenisation, including increasing efficiency, enhancing transparency, reducing settlement time, and lowering costs for traditional finance, but also recognises that the use of DLT can create additional risks.

Distributed Ledger Technology (DLT) 52

Distributed Ledger Technology (DLT) Security Settlement Risk 52

The Payments Association

DECEMBER 9, 2024

Financial institutions must align with UK and EU regulations by 2025, implementing unified compliance frameworks, advanced risk management, and real-time monitoring tools. Cyber threats rank as the fourth biggest risk for financial services in 2024, with an average score of 6.02 What’s next?

Rules 88

Rules Compliance Risk Management Regulations 88