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Sarah Beth Felix, CEO at Palmera Consulting: Fintechs must prioritise AML/sanctions compliance, while banks need to assess exploitation risks in their fintech partners' offerings for effective risk management in BaaS partnerships.
AML, regulation, compliance, fintech, financial institutions, banks, risk management
As businesses undergo digital transformation, the need for robust KYB processes has never been more stringent. Understanding and verifying the identity of businesses is not just a regulatory requirement but a strategic imperative.
KYB, KYC, digital onboarding, fraud prevention, AML, merchants, UBOs, data privacy
Canada-based TD Bank has received a significant monetary penalty for faulty anti-money laundering controls after an examination by the financial crime institutions.
penalty, money laundering, financial crime, financial sanctions, financial institutions
As ecommerce continues showing a substantial increase, identity theft become more recurrent too. Steve Pannifer, CEO at Consult Hyperion, tackles the hot topic of identity fraud and militates for the use of digital IDs to prevent it.
fraud detection, online fraud, fraud management, identity fraud, fraud prevention, identity theft, identity verification, digital identity, regulation, PSP, APP fraud, authorisation rate, synthetic identity
Expanding on the rationale behind funding and M&A activity in regtech and IDV, today we present the technology vendors in the space that have made headlines since the beginning of 2023.
identity fraud, regtech, merger, acquisition, funding, AI, machine learning, KYC, AML
'Sticks in a bundle can't be broken, but sticks taken singly can be easily broken.'
regtech, identity verification, identity fraud, AML, KYC, banks, fintech, digital wallet, AI, APP fraud
Building onto our previous reporting related to the partnerships that took place in Q3 2023 within the payments and commerce space, this analysis focuses on the banking and fintech industry.
banking, fintech, fraud prevention, financial crime, Open Banking, Open Finance, crypto, web3, The Paypers Quarterly Analysis series
Brazil has launched its new national identity program powered by blockchain technology, with Rio de Janeiro, Goiás, and Paraná being the first states to issue this.
digital identity, blockchain, online security, digital wallet
Switzerland has drafted new rules to tighten its money laundering regulations, holding lawyers and consultants accountable for reporting risks and improving oversight of legal entities.
fraud management, fraud detection, money laundering, fraud prevention, financial crime
With recent economic uncertainty leading to banks and fintechs investigating new sources of revenue among consumers, Micheal Pettibone from Mastercard shares how can these turn customer trust into revenue.
financial crime, financial institutions, fintech, financial services, banks, marketplace, KYC, behavioural biometrics, Open Banking
Deborah Young and Alex Ford from The RegTech Association highlight the main trends and developments shaping up the regtech ecosystem in North America.
financial crime, fraud prevention, fincrime, regulation, compliance, risk management, AML, KYC, banks, financial institutions, regtech, artificial intelligence, machine learning
The possibility of adopting central bank digital currencies (CBDCs) is being explored by countries worldwide, including the US. However, according to the Cato Institute 2023 CBDC National Survey, a mere 16% of Americans support the adoption of a CBDC.
CBDC, data privacy, money laundering, financial crime, financial inclusion, study
The Swiss government has pledged USD million for the renewal and upgrade of the country’s Automated Fingerprint Matching System (AFIS).
report, biometrics, facial recognition, fraud prevention, identity verification
The Federal Bureau of Investigation (FBI) has reported an increase in the dollar value of losses due to internet crime for 2022.
online fraud, scam, FBI, report, phishing
In the wake of the FTX meltdown from November 2022, governments and financial regulators from around the world are working on regulating crypto.
regulation, compliance, cryptocurrency, digital assets, crypto asset, crypto
Scott Augenbaum, Cybercrime Prevention Speaker & Retired FBI Supervisory Special Agent, discusses the cyber dangers of the holiday season, emphasizing on Cyber Monday and Cyber Tuesday, some of the busiest times of the year for both merchants and fraudsters.
cybercrime, cybersecurity, scam, online fraud, fraud management, fraud detection, fraud prevention, identity fraud, Black Friday, credit card fraud, payment fraud, debit card, credit card
The UK’s National Crime Agency has decided to assemble a specialised team to proactively investigate cryptocurrency-related crime.
cryptocurrency, digital assets, financial crime, cybercrime
Alpian, a Switzerland-based digital bank, and Napier, a provider of financial crime compliance solutions, have partnered to implement an end-to-end risk management platform.
partnership, banks, digital banking, financial crime, compliance
Dr. Henry Balani from Encompass Corporation reveals the latest regulatory updates around beneficial ownership across the globe and shares advice on how to comply with them.
regulation, financial crime
US-based fintech Payload has started collaborating with Premier Data Services to launch an integration with SoftPro, a provider of escrow and closing software.
ACH, real-time payments, digitalisation, fraud prevention, API