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...
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Financial software and technology giant FIS is teaming up with credit scoring company FICO to roll out a new anti-money laundering (AML) platform as concerns rise over fraud and the global flow of dirty cash amid the pandemic. Get the Full Story Complete the form...
In financial fraud, the breaches come when bank standards are lax. 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...
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Open banking can unlock seamless payment experiences for legitimate customers, but also for money launderers as well. As a result, many financial institutions (FIs) are reluctant to offer application programming interfaces (APIs) until FinTechs can prove that their integrations won't introduce new risk, says Andrew...
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