KYC

As Congress weighs Bank Secrecy Act reforms, some worry that reducing suspicious transaction filings would be a gift to criminals.

Four members of the Senate Banking Committee are trying to reach a compromise on legislation to revamp Bank Secrecy Act procedures after prior legislative efforts failed.

Four members of the Senate Banking Committee are trying to reach a compromise on legislation to revamp Bank Secrecy Act procedures after prior legislative efforts failed.

The credit card company's filings mirror patents Bank of America, Barclays and TD Bank have submitted in the past two years that focus on how funds transfers and data security would augment blockchain technology.

The idea of digitizing cashier's checks is likely to meet resistance, but the Swiss startup says at least two U.S. banks are already showing interest.

As silos complicate know your customer compliance and onboarding, low-code technology can provide a boost, according to Reetu Khosla, global head of life-cycle management and KYC for Pegasystems.

The regtech firm Arachnys, which recently raised $10 million from QED Investors and others, draws from a collection of 23,000 data sources to help banks protect themselves from money launderers and other criminals.

The data strategy at Citizens Bank takes "know your customer" to another level, as Chief Marketing Officer Beth Johnson explains.

Australian credit unions can teach American CUs a thing or two about effective use of blockchain and know-your-customer strategies.

The payments, which total more than $10 million, stem from a 2017 settlement with the Federal Trade Commission. The agency charged that NetSpend deceived consumers by advertising that they could get immediate access to their funds.