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.
While cryptocurrency has found more mainstream acceptance among consumers, it also has the unfortunate tendency to draw money launderers. According to a PYMNTS AML/KYC Tracker,...
Cross-border payments represent a big opportunity for firms worldwide — more than $120 trillion in payments volume flows each year between business trading partners globally,...
The United Kingdom’s Financial Conduct Authority (FCA) announced Tuesday (March 16) it had commenced criminal proceedings against National Westminster Bank Plc (NatWest) for violation of...
Last month, U.S. Treasury Secretary Janet Yellen said central banks should explore creating and issuing sovereign digital currencies. The hypothesis is that such currencies —...
Identity verification provider Acuant has partnered with blockchain software firm Scalable Solutions to create a platform that provides anti-money laundering (AML) and know your customer...
Bithumb has banned users from nations without proper anti-money laundering (AML) rules, The Korea Herald reported Tuesday (March 9). The ban extends to 21 countries,...
Financial institutions (FIs) face a dizzying array of cybercrime threats such as account takeovers and botnets that require multilayered defenses, but ensuring these layers cooperate...
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