In the beginning, Bitcoin was anonymous which allowed for transactions without any knowledge of the other party, besides their account number. With the substantial growth of Bitcoin and the crypto market comes the increased risk of criminal financial activity and regulator demands for more Know Your Customer (KYC) procedures. …

As online channels continue their growth, there’s a parallel growth in fraud. A 2022 payments fraud study found that merchants spend an average of 10% of eCommerce revenue managing fraud. Payment fraud management is critical to prevent losses, protect the organization, and ensure operations are smooth, secure and scalable. One…

From the client point of view, the customer journey should be quick and straightforward. But to ensure trust, security and compliance, organizations need multiple services and applications to work together seamlessly. Customer journey orchestration tools sync workflows to ensure the proper checks are done in the correct order and information…

Financial crime is often thought of as white-collar crime and not a serious and violent act. But laundering the proceeds of crime is at the heart of many heinous acts as criminals look to profit from their illicit activities. …

Effective procedures for financial crime compliance are not only a legal requirement but are an essential business practice. Ensuring an organization has robust financial protocols and limits the damaging effects of enabling criminal activity protects a business’ economic well-being, reputation, customers, partners and employees. The losses from financial crime are…

Singapore is one of the world’s major financial hubs, ranking on par with Hong Kong and Shanghai as the Asia-Pacific region leaders. It attracts significant capital investment due to its political and economic stability, diverse population and pro-business attitude, which emphasizes global trade. …

What is AML compliance? Effective Anti-Money Laundering (AML) programs help ensure illegal funds don’t enter the legitimate financial system. AML compliance is a fundamental requirement for regulated entities, such as banks, financial and money service businesses. …

Fairly or unfairly, Bitcoin and other cryptocurrencies have a reputation for being involved with money laundering. With the growth of cryptocurrency markets, the potential for enabling financial crimes is increasing scrutiny on the sector by regulators and lawmakers. …

China already has over one billion internet users and is the largest internet audience globally. New enhanced Know Your Customer (KYC) requirements in China are already written, and their enactment is coming soon (temporarily postponed from March 1, 2022.) …