The Payments Association
JULY 18, 2025
Next steps/action required: Conduct or update a fraud risk assessment, with documented outputs and regular review cycles. Both UK-based and overseas companies can be prosecuted if the fraud occurs in, or targets victims in, the UK. Applies to UK-based companies and overseas firms with UK operations or UK victims.
Fintech News
JUNE 23, 2024
Singapore has released its updated Money Laundering (ML) National Risk Assessment (NRA) , highlighting increased risks in the digital payment token (DPT) services sector. Consequently, Singapore is closely monitoring the sector. Consequently, Singapore is closely monitoring the sector.
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Fintech News
SEPTEMBER 4, 2024
HitPay secured in June a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS), enabling it to offer merchant acquisition and domestic and cross-border money transfer services. The company offers non-dilutive capital of up to US$1 million, which enables businesses to grow without giving up equity.
Neopay
MAY 31, 2024
Click here to enlarge How Neopay can help At Neopay we offer specialised expertise and solutions to address the identified weaknesses in AML/CFT measures in payment institutions. Contact us today to learn how our comprehensive compliance solutions can help you bolster your financial crime prevention efforts.
Neopay
JUNE 27, 2024
This includes understanding the different types of licenses available, such as payment institution (PI) licenses or electronic money institution (EMI) licenses. Risk management framework: Develop a robust risk management framework that identifies, assesses and mitigates key risks associated with your business operations.
Neopay
JULY 18, 2024
Sub-Saharan Africa: This region suffers from high money laundering risk due to corruption, poor transparency, and weak rule of law. Industry-Specific Statistics Payment Institutions: In 2022, about 68% of European anti-money laundering supervisors identified significant risks in the payments industry.
The Fintech Times
APRIL 30, 2024
Adaptability from fintech providers not only ensures the ongoing relevance of payment processors but also cultivates a more resilient and dynamic e-commerce ecosystem.” Their strengths are assessment, management, and specialised services.
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