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The Financial Crimes Enforcement Network (FinCEN) and the Federal Reserve Board are seeking comment on a proposed rule that would amend recordkeeping and travel rule regulations under the Bank Secrecy Act, the two agencies said in a joint statement. Get the Full Story Complete the...
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‘Know thine enemy’ is the first rule of stopping money launderers in their tracks, but KYC and AML compliance can be challenging for SMBs, Amit Sagiv, co-head of Wix Payments, tells PYMNTS. In this month’s PYMNTS AML/KYC Tracker, Sagiv explains how artificial intelligence (AI) can...
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Australian banking giant Westpac has agreed to a massive fine of $920 million ($1.3 million in Australian dollars) in a bid to put a money-laundering scandal behind it. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
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A small lapse in judgment can cost consumers big when transacting via payment apps, but having users jump through security hoops creates a clunky customer experience. In this month’s AML/KYC Tracker, Victoria Liu Edison, Ant Financial’s chief compliance officer for the Americas, explains how pairing...
Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to receive marketing communications from PYMNTS and...
