The 19th NextGen Payments & RegTech Forum Brings Top Industry Experts to Cyprus, Limassol this November!
Fintech Finance
OCTOBER 30, 2024
” – Lilly Pavlou, Executive Director at QUBE Events.
This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Fintech Finance
OCTOBER 30, 2024
” – Lilly Pavlou, Executive Director at QUBE Events.
Fintech News
JULY 10, 2025
From recent crackdowns in Thailand to swift reforms in Singapore, the message is clear: compliance is the new currency of credibility in crypto. DTSPs are also subject to stricter anti-money laundering and counter-terrorism financing obligations. Today, it’s a sigh of relief as we see that era coming to a decisive end.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Fintech Finance
JULY 27, 2025
Their EMI licence, issued under the Financial Institutions Act, authorizes PayDo to issue electronic money and provide payment services throughout the EU via passporting rights. This means that PayDo complies with key EU standards in anti-money laundering (AML), customer protection, and financial security.
The Payments Association
NOVEMBER 12, 2024
In response, regulatory bodies like the Financial Conduct Authority are tightening anti-money laundering (AML) and counter-terrorism financing (CTF) measures, levying steep penalties for non-compliance. Nasdaq’s 2024 Global Financial Crime Report highlights the urgency, estimating that $3.1 billion in losses in 2023 alone.
The Payments Association
JUNE 3, 2025
Solutions like Swifts CBDC connector , tested with 38 financial institutions, aim to bridge these silos using a hub-and-spoke model that interlinks various CBDC networks and even traditional fiat systems. .” However, this has sparked criticism that these systems strip users of financial autonomy and introduce unnecessary friction.
Finovate
NOVEMBER 6, 2024
Integrating Fenergo will streamline Boerse Stuttgart Digital’s underlying compliance processes for both Know Your Customer (KYC) and Anti-Money Laundering (AML). Swift, UBS, and Chainlink conclude blockchain pilot That’s a wrap!
The Fintech Times
MAY 3, 2025
This ensures businesses and consumers benefit from faster processing times so consumers receive their money when and where they need it. Cross Rivers solution offers businesses a range of payment pathwaysfrom SWIFT for secure, standardised cross-border transactions to local bank rails optimised for domestic B2B and B2C transfers.
Finextra
JULY 28, 2025
Their EMI licence, issued under the Financial Institutions Act, authorizes PayDo to issue electronic money and provide payment services throughout the EU via passporting rights. This means that PayDo complies with key EU standards in anti-money laundering (AML), customer protection, and financial security.
The Payments Association
JULY 18, 2025
Critically, firms operating under Money Laundering Regulations (MLRs) must now secure Part 4A FSMA authorisation to continue operating legally once the transitional period ends. Firms should act swiftly to meet the new standards. In-scope firms will face substantial requirements to align their regulatory frameworks accordingly.”
Trade Credit & Liquidity Management
JUNE 25, 2025
Regulatory Demands: Compliance requirements like KYC and anti-money laundering demand access to unique data sets, such as adverse news, sanctions lists, and legal histories, that aren’t included in standard credit reports. For example, many small businesses rely on just one or two customers for the majority of their revenue.
Neopay
JANUARY 21, 2025
Heightened exposure to financial crime risks The omission of Olampicarans registration with HMRC for anti-money laundering purposes signalled potential vulnerabilities to financial crime.
The Fintech Times
DECEMBER 6, 2024
“The regulators who look at potential M&As will be digging deeper into information that reflect risks of money laundering and the potential for compliance sanctions that may impact the ultimate decision whether the M&A should go ahead, Ruden explains. 2024 left some important lessons for fintech.
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?
PYMNTS
FEBRUARY 13, 2019
Payments messaging firm SWIFT announced on Tuesday (Feb. SWIFT noted that these cases present KYC challenges because data exchanged between all these parties is often incomplete or out of date. SWIFT’s KYC Registry offers entities a unified platform through which they can upload and share standardized KYC data.
PYMNTS
NOVEMBER 11, 2019
Governments are tightening know your customer (KYC) and anti-money laundering (AML) requirements on various industries out of increasing concern over fraud threats. Get the full scoop in the Tracker. About The Tracker.
Payments Source
NOVEMBER 4, 2016
A group of banks is turning to Swift's anti money laundering tools, with a particular eye on "de-risking.".
PYMNTS
SEPTEMBER 17, 2018
The fraudsters who hacked their way into the Bangladesh central bank two years ago got there by getting into software tied to the SWIFT financial platform. Upon success with the phishing, the hackers “moved through the bank’s network” to access computers that victimized banks used to send and receive messages over SWIFT systems.
Fintech News
OCTOBER 15, 2024
HashKey Global, a licensed digital asset exchange, has teamed up with Sumsub , a global verification platform, to improve its Know Your Customer (KYC) and Anti-Money Laundering (AML) processes. As a regulated exchange, ensuring swift yet comprehensive onboarding is paramount to meeting compliance standards.
Payments Source
AUGUST 8, 2018
The fact remains that the vast majority of international payments are still done via banks and through the correspondent (SWIFT) network, writes Rosie Faulkner, vice president and money laundering reporting officer at Earthport.
Fintech News
DECEMBER 17, 2023
It is time for forward-thinking banks to act and transition to a modern, cloud-based banking platform that merges internal capabilities with an ecosystem of specialist suppliers for areas like the general ledger, card processing, KYC, anti-money laundering, and more. Digital transformation is no longer a choice; it’s a lifeline.
PYMNTS
NOVEMBER 16, 2018
Amid stricter checks for money laundering, banks are moving away from the international money transfer practice known as correspondent banking. percent in 2017 per the flow of SWIFT interbank payment messages. 16) that the practice still fell in popularity in 2017. 16) that the practice still fell in popularity in 2017.
PYMNTS
APRIL 3, 2019
The firm said it is one of the first within its space to comply with know your customer and anti-money laundering mandates across Thailand and Myanmar. SWIFT also has an ongoing distributed ledger proof of concept. That comes as SWIFT is working with R3’s blockchain platform, Corda.
PYMNTS
JUNE 10, 2019
Internal auditors at Deutsche Bank found weaknesses in anti-money laundering processes resulted in checks and high-value electronic payments being processed without undergoing the proper vetting. It’s not clear how many checks got through the weak anti-money laundering processes and how many years it goes back.
PYMNTS
OCTOBER 19, 2020
Each payment must be inspected to ensure that it does not facilitate money laundering, terrorist financing or other illicit activities. The SWIFT network processed $77 trillion in cross-border transactions in 2019, accounting for approximately 60 percent of all cross-border transactions.
PYMNTS
APRIL 29, 2020
” He pointed to anti-money laundering (AML) regulations as another example of how the nature of compliance can sometimes conflict with the crypto world. “Crypto is just another payment channel, like SEPA, SWIFT or payment cards,” noted Karalevi? ”
PYMNTS
JUNE 5, 2020
Partnering with FinTechs that have lax security creates very real issues: Criminals could abuse open banking-powered payment apps to launder money, for example, or take over accounts and steal victims’ funds. The federal entity is charged with monitoring the U.S. Even if your products are not covered per FinCEN in the U.S.,
PYMNTS
JANUARY 31, 2019
That doesn’t mean the payments and financial services space can afford to ignore the threat of money laundering and other kinds of fraudulent activity in the context of faster payments. Organizations like SWIFT and Ripple are emerging as heavyweights in the effort to accelerate cross-border transactions. a decade ago.
The Fintech Times
JUNE 30, 2024
The solution helps banks swiftly identify and prevent money mule activities, addressing global regulatory demands and significant laundering operations. In the US, money mule accounts represent up to 0.3 per cent of accounts held by financial institutions, and an estimated $3billion in fraudulent financial transfers.
Fintech News
DECEMBER 5, 2023
” In contrast, OCBC modernised its data platforms to enable swift integration of new technologies, including generative AI. Highlighting the industry’s typically slow response to technological advances, Donald acknowledged, “Banks mostly are not known for being too agile.”
The Payments Association
JANUARY 29, 2025
Key deficiencies included weak transaction monitoring, poor customer due diligence, and systemic lapses in compliance with anti-money laundering regulations. This prolonged inaction left flagged accounts operational for months, enabling billions of dollars in transactions linked to money laundering and other financial crimes.
The Payments Association
MAY 9, 2025
Correspondent banking: A persistent blind spot The structural opacity of correspondent banking makes it a prime target for abuse by money launderers, sanctions evaders, and other illicit actors. In the UK, following Brexit, the Money Laundering & Terrorist Financing (Amendment) (No.
PYMNTS
JUNE 17, 2020
According to a report in ZDNet , Westpac said that “a mix of technology and human error” and “deficient financial crime processes” were behind the financial institution’s (FI’s) lack of compliance with anti-money laundering (AML) regulations. As many as 23 million occasions, in fact.
Fintech News
OCTOBER 22, 2024
In 2016, criminals used fraudulent orders on the SWIFT payments system to steal US$81 million from the Bangladesh central bank account at the Federal Reserve Bank of New York. The money was sent to accounts at Manila-based RCBC and then vanished into the casino industry in the Philippines.
Fintech News
JANUARY 18, 2024
Moreover, OCBC has leveraged AI in bolstering its anti-money laundering measures. An AI-driven platform enables swift analysis of customer profiles and networks, pinpointing suspect communities and transactions. It achieves this by merging an entity-focused view of risk with the rapidity and user-friendliness of generative AI.
PYMNTS
JANUARY 12, 2021
There is also no shortage of faster payments schemes coming online or already online, and know your customer/anti-money laundering (KYC/AML) screening activities must be refined (especially when regulations change).
PYMNTS
APRIL 23, 2019
Money laundering, account takeovers and other illicit activities threaten to turn away legitimate consumers, as well as the government agencies that provide gaming licenses. . This means fantasy sports platforms must enact robust anti-money laundering (AML), KYC checks and other fraud monitoring services.
The Payments Association
MAY 16, 2025
Regulatory Alignment & Global Standards FATF compliance strengthens anti-money laundering safeguards and reinforces irreversible settlement. Front-Loaded Risk Mitigation SWIFT advocates pre-transaction screening to prevent post-settlement disputes.
PYMNTS
JANUARY 1, 2021
This report, featuring Jumio and Capital Float showed verification measures are in place for good reason, with know your customer (KYC) rules enacted with the Patriot Act in 2001 after 9/11 to help curb funding to terrorists and prevent money laundering activity. CFOs Guide To Digitizing B2B Payments.
PYMNTS
OCTOBER 13, 2019
financial regulators have warned firms with registered digital assets that they must follow securities laws to prevent money laundering, as well as report any suspicious activity. Controversy has surrounded cryptocurrencies because of its use in money laundering and terrorism funding. Earlier this year, U.S.
PYMNTS
OCTOBER 27, 2016
government is mandating financial institutions to disclose details about cyberattacks when submitting reports on fraud and money laundering. The goal is for the additional information to help combat the growing threat that digital crimes pose to the country’s financial system, Reuters reported on Tuesday (Oct. Banks in the U.S.
PYMNTS
FEBRUARY 21, 2019
The companies noted that the blocks are focused on SWIFT and SEPA payments, using EastNets’ PaymentSafe and SafeWatch Filtering solutions, which will make such payments compliant with anti-money laundering (AML) mandates.
PYMNTS
OCTOBER 16, 2020
Moving money from one currency to another sounds like it should be pretty straightforward, especially in an era where moving money is basically moving bits of information across the internet,” Lembo said in a recent interview with PYMNTS.
The Fintech Times
OCTOBER 5, 2024
In 2021, the FCA investigated Starling and identified serious concerns with its anti-money laundering and sanctions framework. In early October, the FCA , the UK regulator, announced that it had fined UK challenger bank , Starling Bank , £28,959,426 for financial crime failings related to its financial sanctions screening.
PYMNTS
JUNE 29, 2020
We will take firm action if we find evidence of criminal behavior or serious lapses in anti-money laundering controls,” the MAS said. Shortly before news of the missing money broke, the MAS said it had asked Wirecard’s domestic divisions to protect customer funds, Reuters reported. and the Bank of the Philippine Islands.
Expert insights. Personalized for you.
We have resent the email to
Are you sure you want to cancel your subscriptions?
Let's personalize your content