Tag: terrorist financing

The landscape for Payment Service Providers (PSPs) is rapidly evolving, with a pressing need to scale operations effectively while managing Anti-Money Laundering (AML) compliance risk. RegTech company Fenergo has released a report outlining how payment service providers can reduce AML compliance risk.

Correspondent banking plays a pivotal role in shaping the global financial landscape. Serving as the backbone of international trade, especially for budding and developing economies, it offers a platform for banks to provide services on behalf of other financial institutions, typically situated in diverse countries. This extends to executing transactions, overseeing wire transfers, and collecting crucial documents.

In a recent post by Fenergo, the company outlined how a recent report by the EBA is changing payments in the European Union. 

Unlocking the potential for commercial success, dynamic financial crime risk assessments offer a multitude of benefits for financial institutions. Acuminor, a RegTech company explained...

The biggest challenge that compliance teams face with their money laundering and terrorist financing (ML/TF) risk assessments are gathering the data and evidencing effectiveness.

German Federal Financial Supervisory Authority (BaFin) has ordered challenger bank N26 to improve its prevention of money laundering and terrorist financing.

The First National Bank (FNB) of Lebanon has bolstered its compliance systems by leveraging the FICO Tonbeller Anti-Financial Crime Suite.

Holdex has partnered with Blockpass to offer streamlined Know Your Customer (KYC) and Anti-Money-Laundering (AML) identity verification solutions to its clients.