AML

Anti-money laundering (AML) refers to a set of laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. Though anti-money-laundering laws cover a relatively limited range of transactions and criminal behaviors, their implications are far-reaching.
B2B Payments Go Digital — or Go to Die
B2B Payments Go Digital — or Go to Die
March 02, 2023  |  B2B Payments

Once businesses go digital, they don’t go back. After all, the future only moves in one direction. That’s according to Luke Trayfoot, chief revenue officer...

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PYMNTS Intelligence: CUs Can Do More to Address Members’ Fraud Concerns
PYMNTS Intelligence: CUs Can Do More to Address Members’ Fraud Concerns
February 27, 2023  |  Credit Unions

As more consumers turn to digital solutions to handle their financial needs, the risk of fraud is increasing — a dynamic of which digital banking...

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Transactive Systems’ Growth Reportedly Slows Upon Bank of Lithuania Review
Transactive Systems’ Growth Reportedly Slows Upon Bank of Lithuania Review
February 23, 2023  |  Regulation

Transactive Systems’ growth has reportedly slowed after the Bank of Lithuania imposed limits on it. The Bank of Lithuania said Jan. 20 that the electronic...

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Payments Vaults Evolving as Retailers Prioritize a Secure Consumer Experience
Payments Vaults Evolving as Retailers Prioritize a Secure Consumer Experience
February 16, 2023  |  Security & Fraud

Payments vaults are moving to the forefront of many businesses’ customer experience strategies. Joseph Meuse, vice president of product management at Spreedly, told PYMNTS in...

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Avoiding the Network Effect of B2B Payments Fraud 
Avoiding the Network Effect of B2B Payments Fraud 
February 14, 2023  |  B2B Payments

B2B networks leveraging the latest technologies are only as strong as their weakest link. As business-to-business (B2B) relationships evolve to become online-first and more companies...

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Chainalysis Says It’s Time to Find Out What’s Real in Crypto
Chainalysis Says It’s Time to Find Out What’s Real in Crypto
February 07, 2023  |  Cryptocurrency

The time is ripe for financial institutions to explore what cryptocurrency offerings their customers want. That’s despite 2022’s bear market, Jeff Billingham, director of strategic...

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SEON Acquires Complytron To Step-Up Money Laundering Fight
SEON Acquires Complytron To Step-Up Money Laundering Fight
February 06, 2023  |  Acquisitions

U.K. fraud prevention firm SEON has purchased anti-money laundering specialist Complytron. The acquisition, announced in a Monday news release provided to PYMNTS, is designed to...

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Digital ID and KYC Platforms Potent Weapons Against Accounts Receivable Fraud
Digital ID and KYC Platforms Potent Weapons Against Accounts Receivable Fraud
February 03, 2023  |  Security & Fraud

 Not knowing who’s on the other side of the transaction is expensive.  As noted here last month, financial institutions (FIs) were fined nearly $5 billion for...

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SendFriend Buys DigiPli to Boost Sanctions Screening and AML Controls
SendFriend Buys DigiPli to Boost Sanctions Screening and AML Controls
February 02, 2023  |  Acquisitions

B2B FinTech company SendFriend has acquired U.S. compliance provider DigiPli. The move will combine DigiPli’s anti-money laundering (AML) model with SendFriend’s cross-border payments solution for...

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