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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
UK-based digital bank Monzo has signed up for 159, the phone service that connects individuals with their bank when they receive a suspect call on financial matters.
fraud management, fraud prevention, online banking, digital banking, online security
UK-based AML specialist SmartSearch has analysed global AML events and published a new report which showcases drug trafficking as one of the most prevalent issues.
report, AML, financial crime, cryptocurrency, fraud prevention
ID verification and fraud prevention provider Mitek has announced the launch of MiControl, a fraud management console that assists the company’s Check Fraud Defender.
fraud management, fraud detection, fraud prevention, payment fraud, banking
Karin Milková, Commercial Director at TrustPay, examines the need for local payment methods in cross-border ecommerce and explores key features that payment providers should have.
ecommerce, cross-border payments, merchants, payment methods, online security
Marija Solovjova, Head of Fraud AML Disputes Oversight at Ecommpay, explores how graph analysis weaponises the criminals’ network against them to prevent and pre-empt online fraud.
fraud management, online fraud, fraud detection, chargebacks, merchants, ecommerce, artificial intelligence, machine learning, Account fraud, credit card fraud, ATM, account takeover, refund, refund fraud, identity fraud
Wirex has introduced early access to WPay, a decentralised payment network, leveraging the Wirex platform's capabilities.
DeFi, network tokenisation, crypto, digital assets
The European Parliament and the Council negotiators have reached a provisional agreement to reduce money laundering and limit cash payments to a maximum of EUR 10,000.
AML, money laundering, transaction laundering, regulation, fraud management, CFT
UK-based fintech company Revolut has been accused of violating the state of Illinoi’s Biometric Information Privacy Act (BIPA).
data protection, biometrics, regulation, fintech, neobanks
UK-based digital payment platform Wirex has announced a new strategy to combat Dark Web activities and money mule threats.
online security, fraud detection, identity fraud, digital identity, artificial intelligence
Singapore-based multi-currency e-wallet YouTrip has increased the stock and flow cap limits on its digital wallet and optimised its security solutions.
product upgrade, cross-border payments, cross-border ecommerce, fraud management, fraud detection, fraud prevention, identity fraud
Payment software solutions provider Payment Components has announced its strategic partnership with Fimple in order to offer an improved experience for banks and FIs.
partnership, banking, Open Banking, artificial intelligence, online banking, digital banking, mobile banking, financial services, financial institutions
Financial super app Revolut has included stocks of multiple European-listed companies and firms in its investment offering across the European Economic Area.
product launch, product upgrade, expansion, banking, investment, financial services, financial institutions
The UK Financial Conduct Authority (FCA) and Modulr have agreed on imposing customer onboarding restrictions for the payments fintech.
regulation, digital onboarding, fraud management, fraud prevention, fraud detection, embedded finance, BaaS
Revolut has announced a share deal with SoftBank to eliminate difficulties with its UK licence.
mobile banking, online banking, banking license, financial services, fintech, regulation
Revolut has attracted scrutiny from the UK’s Financial Conduct Authority over red-flag accounts that were restricted by the National Crime Agency.
compliance, regulation, fraud management, Account fraud, mobile banking, online banking, digital banking
NICE Actimize has announced its partnership with Philippines-based GoTyme Bank in order to improve its cloud financial crime digital banking platform.
partnership, fraud management, fraud detection, fraud prevention, mobile banking, online banking, digital banking, artificial intelligence
A series of banks from New Zealand have revealed that they will introduce new measures to prevent scams targeted at their customers.
banks, financial institutions, scam, fraud prevention
UK-based fiat-to-crypto exchange Paybis has added support for ACH bank transfers to streamline crypto purchases for US customers.
cryptocurrency exchange, ACH, product upgrade, bank transfer
PaymentComponents, a Greece-based B2B AI, payments, and Open Banking solutions company has partnered with Brillio, a global digital technology service provider, aiming to change global payments solutions.
artificial intelligence, Open Banking, online payments, financial institutions