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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
Messaging app Telegram has enabled its users to buy advertisements using Toncoin (TON), with a revenue share programme that will reward channel owners.
cryptocurrency, product upgrade, blockchain, digital assets, IPO
The government of South Korea has decided to update its Virtual Asset Users Protection Act to protect investors from market crimes.
cryptocurrency, regulation, financial crime, digital assets
The Commodity Futures Trading Commission (CFTC) has urged policymakers to prioritise the identification of individuals involved in DeFi.
DeFi, digital identity, regulation, cryptocurrency
The Capital Markets Authority has prohibited the use of cryptocurrencies for payments, investments, and digital assets mining in Kuwait.
cryptocurrency, digital assets, regulation, compliance
Emanuel van Praag, Attorney-at-law specialising in Financial Regulatory matters and a Professor of Financial Technology and Law, presents a summary of the European Commission's proposal for the third Payment Services Directive (PSD3) and the new Payment Services Regulation (PSR).
PSD3, payments , regulation, tokenization, digital wallet, data sharing, data protection
UK-based web3 compliance system Astra Protocol has announced a new strategy to help compliance for crypto exchanges and wallets.
web3, blockchain, cryptocurrency exchange, regulation, AML, compliance
Brace yourself for the global economic challenge ahead in 2023. Discover expert insights from Victoria Sztanek at FINTRAIL on how economic downturns impact the financial crime landscape.
financial crime, fraud prevention, financial institutions, risk management, money transfer
The government of Japan has decided to implement stricter rules for cryptocurrency transactions to comply with global regulations.
cryptocurrency, compliance, regulation, FATF
The government of Pakistan has announced that cryptocurrencies will never be legal in the country in a bid to prevent illegal digital currency transactions.
cryptocurrency, regulation, compliance, digital assets
The Financial Conduct Authority (FCA) has used its powers to check sites in Exeter, Nottingham, and Sheffield suspected of hosting illegal crypto ATMs.
FCA, AML, ATM, cryptocurrency, financial crime
Irina Ionescu, Senior Editor at The Paypers, provides an in-depth overview of the most promising fraud prevention startups in Israel, emphasising on their success model.
fraud management, fraud detection, online fraud, fraud prevention, identity fraud, startup, Unicorn, digital identity, biometrics, biometric authentication, AML, artificial intelligence, machine learning, payment fraud, CNP fraud, fraud platform
China’s State Council has revealed a new state administration proposal that aims to overhaul the financial sector and tighten crypto supervision.
cryptocurrency, regulation, financial institutions, compliance
We sat down with Tony Petrov, Chief Legal Officer at Sumsub, and reviewed the most common types of fraud emerging in the online gambling and e-gaming industries, as well as the efficient ways to deter fraudsters while remaining compliant.
KYB, KYC, eKYC, AML, identity verification, digital identity, fraud management, fraud detection, online fraud, fraud platform, gambling, multi-factor authentication, digital onboarding, compliance, Account fraud, biometric authentication, biometrics, behavioural biometrics
To fight financial crime, continuously explore new technologies, remain vigilant of old forms of fraud, collaborate with other teams, and raise awareness throughout the organisation.
machine learning, financial crime, regtech, transaction monitoring, money laundering, fraud management, banks
An estimated 293 million scam reports were filed and USD 55.3 billion was lost in scams in 2021 worldwide. Jorij Abraham, General Manager at ScamAdviser.com and The Global Anti-Scam Alliance, tackles the most common types of scams and how they spread across the globe, creating a new epidemic.
scam, fraud management, fraud detection, online fraud, COVID-19, digitalisation, fraud prevention, identity theft, identity fraud, phishing, crypto
The European Union has targeted privacy coins and might issue a ban that would prevent banks from dealing with such cryptocurrencies.
crypto asset, cryptocurrency, regulation, AML
Two US senators have introduced a bill aimed at helping cryptocurrency companies report cybersecurity threats.
fraud prevention, regulation, cybersecurity, cryptocurrency, crypto, online security, cybercrime
The Paypers explores what drives investments and M&As in regtechs and fraud prevention companies.
fraud prevention, regtech, financial crime, money laundering
WeChat, a China-based social media giant, has announced it is cracking down on use of the platform for the purpose of fraudulent financial advertising and promotions.
fraud prevention, wealth management, IOT, cryptocurrency, regulation