PYMNTS

AUGUST 22, 2019

Austria’s major telecommunications firm A1 is now accepting payments in cryptocurrency as part of a pilot project, the company said in a recent blog post. He noted that this emergence has crept into just about every major economic sector, and as more people buy cryptocurrency, cash becomes obsolete.

cryptocurrency 152

cryptocurrency Compliance Bitcoin Operations 152

CFPB Monitor

MAY 31, 2022

On May 19, 2022, the Associate Director of the Enforcement and Compliance Division of the Financial Crimes Enforcement Network (“FinCEN”), Alessio Evangelista, spoke at the Chainalysis Links Conference in New York City on the topic of “The Intersection of Cryptocurrencies and National Security.” Responsible Innovation “.

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cryptocurrency Innovation DC National 146

PYMNTS

OCTOBER 12, 2020

BitMEX has announced a new Chief Compliance Officer in Malcolm Wright, who will serve in the role for 100x Group, which operates HDR Global Trading Limited, which runs BitMEX. Bank of England governor Andrew Bailey said he doesn’t see the value of Bitcoin as a mode of payment, cautioning it as a legitimate use, Reuters reports.

Bitcoin 261

Bitcoin Compliance Lending Regulation 261

Bank Innovation

SEPTEMBER 26, 2017

Several banks in Singapore have closed the accounts of an estimated 10 firms specializing in cryptocurrency and payments services.

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cryptocurrency blockchain Fintech Industry 150

PYMNTS

OCTOBER 14, 2020

The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. This in the wake of the OCC’s Sept. But this trend toward crypto doesn’t stop there.

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cryptocurrency Regulation Trends Bitcoin 323

PYMNTS

JANUARY 28, 2020

10, with new regulations for cryptocurrencies, wallets and exchanges. Some operators said no way, moving to countries with more relaxed rules, or simply shuttering. Customer security and rigorous AML/KYC compliance are shaping up to be an amalgam of better systems, stricter procedures and a multi-layered safety approach to payments.

Compliance 151

Compliance cryptocurrency Fraud Regulation 151

PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. The Cost of Compliance. The projected 2020 cost of AML compliance across all U.S. financial institutions (77 percent) for AML compliance.

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cryptocurrency Regulation Compliance blockchain 116

PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. Certainly, the use and availability of cryptocurrencies is another emerging area that is contending with its own unique set of compliance issues, but it is also one Wingert said appears to be closing gaps in regulation.

Fraud 270

Fraud Compliance cryptocurrency Security 270

PYMNTS

DECEMBER 26, 2019

Chinese technology company Tencent has announced it’s going to start researching cryptocurrency and its implications for an ongoing project in blockchain, according to reports. Tencent is also currently looking for a leader of the research group. The apps must comply by Dec.

cryptocurrency 131

cryptocurrency Company blockchain Exercises 131

PYMNTS

FEBRUARY 18, 2019

Cryptocurrency has come a long way since bitcoin’s emergence as an unregulated, anonymous payment technology. Perhaps the most poignant moment in this evolution came about last week when JPMorgan Chase announced the development of the JPM Coin, the first bank-backed cryptocurrency in the U.S.,

cryptocurrency 175

cryptocurrency Payments blockchain Compliance 175

PYMNTS

OCTOBER 18, 2018

The global regulatory framework of cryptocurrencies and blockchain remains either fragmented, vague or simply nonexistent. Part of the initiative includes the SBA’s guidelines to the nation’s traditional financial services market on how to service these industry players while maintaining compliance.

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Guidelines cryptocurrency blockchain National 213

PYMNTS

SEPTEMBER 18, 2020

Merchants using a qualified debit card can schedule card receivables payouts and apply that cash toward inventory, bill pay and other requirements to continue operating and survive through the volatility. “In The company is using Visa 's Visa Direct solution, which wields Visa's card rails to push funds to debit cards.

Innovation 291

Innovation Payments cryptocurrency Cards 291

Perficient

DECEMBER 27, 2023

This particular scam involves criminals building trust with victims in digital relationships before persuading them to invest in cryptocurrency platforms, ultimately leading to financial losses. Other, traditional financial crime risks, especially fraud, continue to demand banks’ vigilance.

Compliance 221

Compliance FDIC Regulation Fraud 221

PYMNTS

DECEMBER 9, 2020

Cryptocurrency platform startup Circle has overhauled its network to advance mainstream trading, while its stablecoin USDC has surpassed three billion in circulation, growing by nearly 500 percent in 2020. “At

blockchain 258

blockchain cryptocurrency Analytics Policies 258

PYMNTS

JULY 24, 2020

with an app and debit card, expanded into cryptocurrency trading with Paxos Trust Co., Last week, Revolut, which recently debuted in the U.S. the New York-based settlement platform.

San Francisco 255

San Francisco Fintech cryptocurrency New York 255

PYMNTS

JANUARY 1, 2021

Indian FinTech Cashaa and the country's United Multistate Credit Cooperative Society teamed up to launch what they say is the world's first cryptocurrency bank branch through a joint-venture bank called Unicas, according to a release. The operation also will provide traditional banking services, according to the backers.

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Miami Bitcoin cryptocurrency Florida 201

Perficient

MAY 25, 2023

First, as digital asset securities, should the SEC classify digital assets such as cryptocurrencies and NFT as securities rather than derivatives, Promethium will be well positioned to offer the related custody services. The approval allows Promethium to custody digital asset securities on behalf of both retail and institutional clients.

cryptocurrency 251

cryptocurrency United States Retail Security 251

PYMNTS

OCTOBER 13, 2020

And, while terrorist use of cryptocurrency is still evolving, certain terrorist groups have solicited cryptocurrency donations running into the millions of dollars via online social media campaigns.”. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year.

cryptocurrency 206

cryptocurrency United States social media Regulation 206

Bank Innovation

MAY 21, 2018

Cryptocurrency is going mainstream, or rather, banks and cryptocurrency exchanges are growing more enmeshed.

cryptocurrency 186

cryptocurrency Bitcoin Operations Industry 186

PYMNTS

APRIL 13, 2018

Intense industry hype and alarming cryptocurrency volatility have led regulators the world over to perk up their ears to the growing number of cryptocurrency exchanges. The company’s business model as a cryptocurrency exchange operator means the company takes the position that some digital assets are securities.

cryptocurrency 108

cryptocurrency Regulation blockchain Security 108

Perficient

OCTOBER 24, 2024

As noted at the time by the OCC, advances in computing capacity, increased data availability, and improvements in analytical techniques have significantly expanded opportunities for banks to leverage AI for risk management and operational purposes. Co-pilots: Software supported and enabled traders to operate more efficiently and swiftly.

Regulation 221

Regulation Risk Management Compliance Fraud 221

Perficient

SEPTEMBER 16, 2022

The letter highlighted mandatory compliance with the following federal regulations: The Bank Holding Company Act. These systems, risk management, and controls must cover: Operational risk , including: the risks of new, evolving technologies, the risk of hacking, fraud, theft, the risk of third-party relationships). Financial risk.

Compliance 275

Compliance Risk Management System Regulation 275

Bank Innovation

MARCH 2, 2018

The 16 registered cryptocurrency exchanges currently operating in Japan will soon form a self-regulating body, after a $530 million heist of digital coins in the region led to investor concerns, Reuters reported today.

cryptocurrency 199

cryptocurrency Regional Regulation Operations 199

PYMNTS

OCTOBER 16, 2019

Mastercard has outlined its intentions with blockchain after its high profile exit from the Libra Association, a coalition of many successful companies meant to help guide and foster oversight of Facebook’s proposed cryptocurrency. The company said that a good portion of the 2,600 cryptocurrencies available right now don’t do that at all.

blockchain 151

blockchain cryptocurrency Operations Compliance 151

PYMNTS

DECEMBER 2, 2020

Facebook's cryptocurrency project on Tuesday (Dec. Diem Networks will operate the actual payments system, which will oversee a new currency called the Diem Dollar. Diem Networks will operate the actual payments system, which will oversee a new currency called the Diem Dollar. Goodbye Libra and hello Diem.

cryptocurrency 156

cryptocurrency Regulation Compliance System 156

PYMNTS

JULY 15, 2019

billion is estimated to have been lost to cryptocurrency scams, thefts and fraud in the first quarter of 2019, and cybercriminals and scammers are not the only ones putting digital asset users at risk. Tackling such fraud issues requires cryptocurrency trading platforms to take a variety of approaches. More than $1.2 Low-Friction KYC.

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cryptocurrency Fraud Security Bitcoin 193

Abrigo

JULY 13, 2023

Avoid fraud losses from pig butchering scams FinCrime professionals looking to prevent pig butchering scams in the age of cryptocurrency can follow these steps to tighten security. Today’s pig butchering scams usually involve investment schemes and cryptocurrency fraud. Would you like other articles like this in your inbox?

Fraud 195

Fraud cryptocurrency Training social media 195

PYMNTS

SEPTEMBER 12, 2019

Financial services providers that slack on regulatory compliance and fail to safeguard their operations against money laundering, terrorist financing and other criminal activities may face damaged reputations and significant fines. The growing prevalence of cryptocurrencies is also complicating the finance sectors’ security efforts.

Fraud 189

Fraud Fintech Compliance Regulation 189

PYMNTS

SEPTEMBER 10, 2019

Netki announced that it has upgraded its digital identity service so that cryptocurrency firms can meet AML recommendations by the Financial Action Task Force (FATF) for fighting money laundering. In other news, crypto trading platform BitMEX has lost its chief operating officer (COO).

Compliance 101

Compliance Bitcoin cryptocurrency Meeting 101

PYMNTS

SEPTEMBER 2, 2019

Although regulation could make it hard for some crypto firms to continue operations, Murray said it’s not the BSA’s job to accommodate everyone. The testimony further stated that cryptocurrency regulations could be strengthened by creating a new class of financial institution: virtual asset transaction validators. financial system.

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Groups cryptocurrency Regulation United States 124

PYMNTS

JUNE 14, 2017

Potcoin , the digital cryptocurrency similar to bitcoin but aimed at the legal marijuana market, got much-needed publicity by sponsoring Dennis Rodman’s trip to North Korea. The argument: Compliance with complex requirements was too expensive and did not assure them they would not be prosecuted in the future.

Bitcoin 179

Bitcoin cryptocurrency Policies Compliance 179

Insights on Business

JULY 26, 2018

While blockchain’s decentralized, distributed-ledger technology is most popularly known as the basis for cryptocurrencies such as bitcoin, among the thought leaders with whom I work this is only scratching the surface of the potential of blockchain for business. Blockchain for KYC: A Business Problem and Value Proposition.

blockchain 151

blockchain Innovation Customer Experience Compliance 151

FICO

MARCH 6, 2020

Visma Connect recently interviewed Jürgen Krieg, FICO's head of global compliance sales. In this excerpt from that article, Jürgen elaborates on the importance of compliance. . At FICO, I am responsible for planning and implementing growth strategies to develop new markets, and the expansion of our compliance business globally.

Compliance 81

Compliance Technology Fraud Analytics 81

PYMNTS

JULY 16, 2019

France’s financial regulator is set to approve a wave of cryptocurrency-related firms in the country, subjecting them to new rules that include paying taxes and complying with capital requirements and consumer protections, according to a report by Reuters. France is a precursor.

Regulation 143

Regulation Company cryptocurrency Taxes 143

Abrigo

DECEMBER 19, 2022

Given the demands of day-to-day duties, however, it can be challenging for BSA officers and other financial crime compliance staff to find time for training and education on fraud and money laundering. The whitepapers, checklists, and guides cover everything from regulatory guidance to operational considerations.

Resources 195

Resources Training Fraud Compliance 195

PYMNTS

SEPTEMBER 29, 2020

Jumio said it plans to integrate Beam’s AML screening and transaction monitoring services into its KYX platform to help flag financial crime and streamline regulatory compliance. The Palo Alto-based firm on Tuesday (Sept. The announcement comes on the heels of Jumio’s Sept.

San Francisco 153

San Francisco Compliance Regulation cryptocurrency 153

Abrigo

DECEMBER 28, 2022

Cybercrime, sanctions compliance, and cryptocurrency troubles are bound to be trends for anti-money laundering/countering the financing of terrorism (AML/CFT) and fraud professionals to track in the coming months. Those read most often in the past year include several that offer practical advice for operating AML and fraud programs.

Fraud 195

Fraud Training Compliance Regulation 195