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.
Germany’s Commerzbank London has agreed to pay a fine of £37,805,400 — about $47.45 million — “for failing to put adequate anti-money laundering (AML) systems...
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...
AML/KYC conventions that rely on paper documents and face-to-face meetings in offices are so last year. In fact, their time may have passed, it seems,...
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House hunters have been able to virtually tour prospective properties for years, but ID verification mandates in different states still often required in-person real estate...
In PYMNTS’ most recent Navigating the COVID-19 Pandemic series, based on surveys of thousands of consumers and businesses over the duration, nearly 34 percent of...
Cybercrime is surging during the COVID-19 pandemic as fraudsters seize on increased online activity to steal consumers’ sensitive personal details. As much as 22 percent...
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The pandemic has introduced new variables into innovations, payments and commerce — setting up headwinds in some cases as businesses shutter, and tailwinds as consumers...