Ensuring high-quality standards in any organization is an essential ingredient that must be rooted within a company’s Quality Management Program (QMP) – a program that creates a framework to ensure ...

Instant payments are reshaping financial crime controls as speed and the irreversibility of transactions strain anti-money laundering compliance models. While many assume real-time AML means faster ...

Document that the AML program is effective, risk based, and reasonably designed. Maintain separate documentation of program design and execution. Draft clear descriptions of the roles and ...

Fraud in payments is growing more sophisticated, forcing payment service providers (PSPs) to rethink their defenses. Today’s fraudsters are even leveraging AI tools to scale attacks and evade ...

A new regulation went into effect Jan. 1 in New York requiring banks and other thrifts to step up their monitoring and filtering of transactions to prevent money laundering. State regulators have ...

The Central Bank of Nigeria (CBN) has issued new guidelines requiring banks and other financial institutions to deploy automated systems to detect and report suspicious transactions as part of efforts ...