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PYMNTS
AUGUST 3, 2020
It is unclear whether the bank knew its services were being used to skirt anti-money laundering regulations, the paper reported. .” The FT added: “Since then, more than 30 people have been sentenced for mafia-related crimes linked to the case.” ” Wirecard declined to comment for the FT article.
144 
Bank Automation
OCTOBER 31, 2024
said US regulators may take action against the firm over its efforts to detect suspected money laundering and sanctions violations, as well as its handling of payments on the Zelle network. may take action over money laundering, Zelle appeared first on Bank Automation News. Bank of America Corp.
Bank Automation
DECEMBER 17, 2024
Klarna, the Swedish fintech that provides buy now, pay later services, was fined 500 million Swedish Kronor ($46 million) by Swedens Financial Supervisory Authority for violating anti-money laundering rules. The regulator in a Dec.
98 
Fintech News
JUNE 3, 2024
The Asia-Pacific (APAC) region faces significant challenges in combating money laundering due to its diverse economies, large volume of cross-border trade, and varying levels of regulatory enforcement across different countries — the trends of money laundering in Asia Pacific are constantly evolving.
127 
Finextra
MARCH 3, 2024
Paytm's banking business has been fined 55 million rupees (about $663,000) by an Indian regulator on money laundering charges.
128 
Finextra
MAY 21, 2024
German regulator BaFin has fined N26 €9.2 million for anti-money laundering failures but could be preparing to lift a cap on the number of new customers the digital bank can take on.
126 
The Fintech Times
JANUARY 21, 2025
As much as three-quarters (72 per cent) of regulated companies feel overwhelmed by current anti-financial crime compliance demands; according to the latest study by digital compliance and anti-money laundering (AML) solution provider SmartSearch. It explained that there isnt a one-size-fits-all solution.
72 
Fintech News
JULY 17, 2024
A recent comprehensive report by Chainalysis sheds light on the intricate world of crypto-related money laundering. The Scale of Crypto Money Laundering The magnitude of crypto-related money laundering is staggering. Usage of mixers peaked in 2022, with over US$1.5 billion of value received in April alone.
109 
Fintech News
OCTOBER 6, 2024
Singapore is enhancing its anti-money laundering (AML) framework with new recommendations from the Inter-Ministerial Committee (IMC). This comes after a review sparked by the high-profile money laundering case in August 2023, in which more than S$3 billion worth of assets were seized.
123 
Neopay
MARCH 6, 2025
The allegations involve multiple counts of fraud and money laundering, painting a picture of large-scale financial misconduct within the firm. The allegations In December 2024, the FCA charged John Dance with nine criminal offences, including fraud by abuse of position and money laundering.
Fintech Finance
MARCH 10, 2025
Becki LaPorte, Strategic Advisor in the Fraud & AML practice at Datos Insights, said: “Today’s payment arena requires real-time AML compliance as evolving regulations demand deeper scrutiny of transactions.
PYMNTS
SEPTEMBER 16, 2020
Chinese authorities have made a series of arrests alleging more than $2 billion was laundered at offshore gambling sites through faux eCommerce purchases. The Financial Times (FT) reported police acknowledged that in a scheme to avoid China’s tough financial regulations, thieves have targeted sites including Pinduoduo Inc.,
124 
Fintech News
DECEMBER 3, 2024
In addition to being the only Asia-based company selected for the Mastercard Start Path programme and the first regulated POS in Singapore to accept cryptocurrencies, dtcpay has garnered numerous accolades. This surge highlights the increasing demand for stability and reliability in digital payments.
131 
Fintech News
DECEMBER 3, 2024
The Telecommunication Regulator of Cambodia (TRC) implemented this action due to the platforms’ lack of necessary licensing from the Securities and Exchange Regulator of Cambodia (SERC). This regulatory action occurs amid increasing international scrutiny of Cambodia’s involvement in cybercrime and crypto scams.
113 
PYMNTS
SEPTEMBER 13, 2020
Europe's biggest banks have called on the European Commission to implement tough regulations for cryptocurrencies, such as stablecoins, that would protect consumers and preserve state sovereignty in monetary policy, Reuters reported. In a joint statement Friday (Sept. The association declined to comment, Reuters reported.
145 
Fintech News
FEBRUARY 2, 2025
million in penalties by US regulators due to a series of illegal actions, including misleading advertising regarding its fees. Regulators additionally determined that Wise did not refund remittance fees within the legally required timeframe when payments failed to arrive on time. Wise has been ordered to pay nearly US$2.5
Fintech News
JUNE 5, 2025
Singapore has taken a definitive step forward in digital asset regulation via its Singapore DTSP licensing framework. This makes them especially vulnerable to being used for money laundering or terrorism financing. Here are the most important shifts digital token businesses need to understand now.
Open Banking Excellence
FEBRUARY 6, 2025
Instead, we have shifted to a new approach where the private sector is responsible for providing the trust services and the government will regulate and supervise. regulations and have the system up and running in the next 12 to 18 months. Our goal is to comply with eIDAS 2.0
230 
The Payments Association
FEBRUARY 14, 2025
With regulatory scrutiny at an all-time high, payments firms must keep pace with evolving regulations to avoid financial penalties and reputational risks. In 2025, three priorities stand out: safeguarding customer funds, expanding open banking, and preparing for stablecoin regulation.
88 
Fintech News
APRIL 21, 2025
Circle Internet Group announced the launch of its Circle Payments Network (CPN), a new system designed to connect financial institutions for cross-border payments using regulated stablecoins.
Fintech News
JUNE 8, 2025
The announcement follows the authority’s 30 May response to feedback on its consultation paper on the Proposed Regulatory Approach, Regulations, Notices and Guidelines for DTSPs under the Financial Services and Markets Act 2022. Without a license, these service providers will have to cease their regulated operations.
114 
Stax
DECEMBER 4, 2023
According to a UN report, money laundering activities of about $1.6 The US, therefore, requires financial institutions as well as financial services firms to have anti-money laundering (or AML) compliance programs in place. trillion took place in 2020, accounting for about 2.7% of global GDP. Let’s get started.
Fintech Finance
MARCH 10, 2025
Becki LaPorte, Strategic Advisor in the Fraud & AML practice at Datos Insights, said: “Today’s payment arena requires real-time AML compliance as evolving regulations demand deeper scrutiny of transactions.
Fintech News
SEPTEMBER 2, 2024
As data privacy regulations tighten across APAC, driven by growing digital transformation and increased awareness of privacy concerns, Sumsub’s LDP solution aims to help businesses navigate these evolving requirements. LDP simplifies compliance with these local regulations by ensuring data is stored and processed locally.
120 
The Fintech Times
MARCH 27, 2024
Five people, including convicted fraudster Neale Rothera , were sentenced for their involvement in a fraud and money laundering scheme which cost banks over £500,000 earlier this week. But with the money unrecoverable, how can this type of situation be avoided in the future?
The Payments Association
FEBRUARY 10, 2025
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. Why is it important? What’s next?
88 
The Nilson Report
JANUARY 27, 2025
The post US State Regulators Fine Block Inc $80 million for Insufficient Money Laundering Controls appeared first on Nilson Report.
Fintech News
MARCH 12, 2025
The LOI focuses on capacity building in digital asset regulation, anti-money laundering (AML) and counter-terrorism financing (CTF) measures, and cross-border capital market connectivity.
90 
The Fintech Times
APRIL 29, 2024
In the last two decades, anti-money laundering (AML) regulatory framework, processes and mechanisms have not changed much. As a result, fraudsters are capitalising on firms’ inadequacies to spot and deal with money laundering. Is the global anti-money laundering (AML) system broken? What’s the problem?
Fintech News
FEBRUARY 27, 2024
2023 marked a pivotal year in the Asia-Pacific (APAC) region’s approach to crypto regulation, influenced significantly by the preceding implosion of Sam Bankman-Fried’s FTX exchange and the collapse of of Terra, the algorithmic stablecoin created by Korean entrepreneur Do Kwon.
132 
Fintech News
DECEMBER 22, 2024
New crypto regulations came into effect, introducing requirements relating to anti-money laundering (AML) and countering the financing of terrorism (CFT) and financial stability, and reflecting Singapores commitment to fostering innovation in the crypto and tokenization space.
113 
The Payments Association
MARCH 19, 2025
With the rise of digital assets, real-time payment methods, and evolving regulations, the pace of change has never been faster. Some governments embrace them, others restrict them, and many are still figuring out how to regulate them. The payments industry is undergoing a profound transformation.
88 
Fintech News
APRIL 10, 2024
These efforts cover a comprehensive range of regulatory concerns, including but not limited to licensing requirements, reserve asset management, redemption rights, capital adequacy, consumer protection, and compliance with anti-money laundering (AML) and counter-terrorism financing (CFT) guidelines.
125 
Fintech Finance
OCTOBER 30, 2024
Our Distinguished Speakers line-up: Abbas Khamisa, Head of Treasury Solutions, Global Banking at MUFG Investor Services Alessandra D’Este, Senior Payments Expert, EMEA at Swift Amrit Toor, Solutions Architect at Cloudflare Andrea Moundi Savvides, Global Director of Risk and Compliance (Harneys) and Chair and Founding Member of the Cyprus Compliance (..)
98 
The Payments Association
MAY 28, 2025
The WTR Knowledge Hub serves as an essential repository for up-to-date information on global implementation of wire transfer regulations, highlighting adoption of the Financial Action Task Force (FATF) Travel Rule, country-specific regulations, and regional legislative frameworks.
88 
The Payments Association
NOVEMBER 25, 2024
The regulatory landscape: FCA and PSR’s roles in de-risking The Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) are pivotal in shaping the UK’s financial ecosystem. By undermining regulated channels, de-risking paradoxically amplifies the very threats it aims to mitigate.
88 
Neopay
DECEMBER 2, 2024
Those of you who were in the payments space pre-COVID, might remember my industry talks about ‘Why the World Needs Money Laundering’. A history of money laundering The concept of money laundering goes back to long before money itself existed. Even the 3 stages (placement (i.e.
Stax
JANUARY 23, 2025
The merchant underwriting process helps reduce fraud (including chargeback volume), ensures compliance with regulations, and protects financial stability in the payment processing space. This process involves reviewing the businesss structure, financial health, industry type, and compliance with regulations.
68 
Clearly Payments
NOVEMBER 13, 2024
Merchants in high-risk categories, such as online gaming, travel, and adult services, benefit from BIN data as it helps processors manage risk levels and ensure compliance with industry regulations. Payment processors must meet both local regulations and the specific compliance requirements of each card network and their sponsoring bank.
104 
Neopay
APRIL 10, 2025
While there was no actual money laundering, the enforcement highlights a theme across the financial sector: that even in the absence of proven financial crime, poor controls and a lack of monitoring can lead to severe regulatory action. What went wrong for Revolut? The fine of 3.5
52 
Payments Source
MAY 13, 2021
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118 
The Fintech Times
NOVEMBER 27, 2024
While the FCA still warns that consumers who invest in cryptoassets ‘should be prepared’ to lose all of their money, due to the continuing volatility and lack of regulation surrounding the industry, consumers appear undeterred. We hope that the FCA will continue to collaborate with enterprises in the digital asset space.
112 
Fintech Finance
OCTOBER 23, 2024
Led by Intix, the survey explored readiness levels and compliance with key regulations, including ISO 20022 standards, as well as the readiness of banks as they prepare to meet the EU’s Instant Payments Regulation, which takes effect in January 2025 for receiving instant payment transactions and October 2025 for sending instant payment transactions.
105 
The Fintech Times
MAY 18, 2024
Crypto exchange, Binance has played a massive part in solving a major crypto-assisted money laundering case in Taiwan involving nearly NT$200million (approximately US$6million). The post Binance Plays Vital Role In Cracking Crypto-Assisted Money Laundering Case in Taiwan appeared first on The Fintech Times.
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