In conjunction with Internal Revenue Service Criminal Investigation (IRS CI), the US Financial Crimes Enforcement Network (FinCEN) has released a notice asking financial institutions to report signs of workers’ compensation fraud and payroll tax evasion in the construction industry. The […]
The UK’s Payment Systems Regulator (PSR) is conducting two consultations exploring when and how its authorized push payment (APP) requirements will apply when they come into force in 2024. According to Chris Hemsley, Managing Director at the PSR, “The two […]
Authorities in Singapore have made ten arrests, seizing illegal assets worth over S$900 million in simultaneous raids nationwide. The raids were the culmination of a forgery and money laundering (ML) investigation facilitated by the Monetary Authority of Singapore (MAS) and […]
E-money institution (EMI) Payset offers diverse payment solutions, from multi-currency accounts and B2B wallets to currency exchanges and – soon – debit cards. Established in 2018, the company aims to bring financial services up to speed with modern business requirements […]
PingPong needed a solid solution to streamline its due diligence checks to meet its compliance obligations across many different jurisdictions and build trust with its new and expanding customer base.
Lumon has provided overseas payments and foreign exchange services to private individuals, small-to-medium enterprises (SMEs), and larger corporates for over two decades.
Payment fraud is when someone steals another person’s payment information – or tricks them into sharing it – to make false or illegal transactions. The 2022 AFP® Payments Fraud and Control Survey reports that 71% of organizations were victims of […]
As financial crime typologies, payments use cases, and regulatory technologies evolve, how should compliance teams in remittance and cross-border payment firms build and scale their anti-money laundering (AML) programs?
Meet ekko, a new challenger fintech with built-in eco-initiatives that allow users to track their carbon footprints. We caught up with co-founder and Head of Operations Manish Vara to learn more.
For payment service providers (PSPs) to connect merchants to the wider financial system, they must comply with relevant jurisdictional payment service regulations. Regulated payment services generally include provisions relating to payment accounts, executing payment transactions, issuing payment instruments, acquiring services, […]
The way in which we interact with our banks has changed significantly over the past decade. Financial Technology firms (FinTechs) have enabled greater flexibility, not only in our choice of banking provider, but also in terms of how we access […]
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has released a new guide aimed at tackling the increasing misuse of transaction payment text fields by criminals. The guide, Preventing misuse and criminal communication through payment text fields, aims to raise […]
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