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Adam McLaughlin from Nice Actimize emphasises the crucial distinction financial institutions need to make between efficiency and effectiveness in adopting technology, as compliance goes beyond mere checkbox activities.
compliance, financial crime, financial institutions, transaction monitoring, Sanctions Screening, fintech, data, artificial intelligence, machine learning, risk management
Germany-based online bank N26 has revealed its plans to permit customers in Austria and Germany to trade stocks and exchange-traded funds (ETFs).
cryptocurrency, digital assets, online bank, mobile banking
The government of Venezuela has ended the Petro (PTR) cryptocurrency, founded in 2018 to support the nation’s currency due to an overwhelming economic crisis.
cryptocurrency, cryptocurrency exchange, financial sanctions, digital assets
The Australian government has announced a delay on its BNPL laws until 2024, due to resourcing pressures on the federal government’s legislative drafting teams.
BNPL, payments , online payments, digital payments, mobile payments, ecommerce
Tue To, Manager at Edgar, Dunn & Company, dives into the ways in which BigTech giants are reshaping finance, blurring boundaries, and disrupting traditional banking with innovation and embedded financial services.
ecommerce, bigtech, real-time payments, Open Banking, embedded finance, digital payments, banks, BaaS, growth markets, financial services, credit card, e-wallet, fintech, payments
As our previous edition explored the mergers and acquisitions market in Europe, today we turn our attention to the US.
The Paypers Quarterly Analysis series, funding, investment, regtech, identity verification, machine learning, fraud prevention, KYC, AML, blockchain
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 Metropolitan Bank Holding Corp, the holding company for Metropolitan Commercial Bank, has announced the shutting down of its crypto-asset-related vertical, according to Coin Telegraph.
cryptocurrency, crypto asset, banks, regulation
Federal regulators have fined Wells Fargo a record USD 1.7 billion for ‘widespread mismanagement’ over multiple years that harmed over 16 million consumer accounts.
regulation, banks, payments , scam, financial institutions
Douwe Lycklama, founding partner at INNOPAY, formulates a lucid analysis of the context that lead to the FTX collapse, while detailing the important lessons that the crypto and larger economic market should learn and act on in the coming future.
cryptocurrency, cryptocurrency exchange, regulation, blockchain, FTT, Bitcoin
Europol has supplied European data from the SWIFT financial transaction system to the US Treasury Department, ending up with the CIA.
data, SWIFT, financial data, transactions , data breaches
Swiss Federal Criminal Court (FCC) has announced Swiss prosecutors are pursuing USD 45.5 million in compensation from Credit Suisse in a money laundering trial due to begin in February.
money laundering, banks, central bank, regulation, transactions
Sweden’s financial regulator has slammed Danske Bank for failing to overcome controls failures following a money laundering scandal.
regulation, AML, fraud prevention, money laundering
Credit Suisse has been fined nearly GBP 350 million by global regulators, pleaded guilty to wire fraud.
payment fraud, regulation, financial services, financial crime, lending
With regulators focusing on fighting financial crime, by bringing more accountability and transparency with more stringency on KYC, Verity Snelson from Encompass shares what lessons can be learned from the past
KYC, financial crime, regulation, money laundering, fintech
Customers do not want to keep their money with a bank/financial institution that they do not trust
banks, trust, compliance, AML, KYC, money laundering, regtech
In a bid to stamp out money laundering, The Star and Crown Sydney, Sydney's only two casinos, have announced plans to make their gaming operations cashless.
money laundering, cashless, gambling, banks, AML, debit card
Deutsche Bank, JP Morgan, banks, financial institutions
Amid criticism over the BaFin’s, Germany's financial regulator, handling of the Wirecard fraud scandal, the head of Germany's financial regulator will leave his post.
BaFin, Wirecard, fraud, scandal, financial regulator, Germany, payments
Financial crimes have a strong impact on society and the economy.
AML, KYC, digital identity, fraud prevention, financial crime, risk management, regtech, identity verification, banks, compliance, virtual asset provider, AI, ML, big data, human trafficking, compliance teams, customer identification, AMLD6