The AML Vulnerabilities of Payment Service Providers
AML SPOTLIGHT REPORT
The global payment processing market is expected to nearly double to $2.9 trillion by 2030. As the volume, speed and sophistication of digital payments grow, so do the money laundering vulnerabilities of payment service providers (PSPs).
Although regulators around the world have got tougher in the last few years, PSPs claim the current international risk framework is still inadequate and highlight the growing importance of technological solutions in fighting the money laundering threat.
In this industry spotlight report, we cover:
• Recent scandals and industry fines
• Countering the increased sophistication of mules
• The threat of transaction laundering
• Global AML rules for PSPs
• How automation can help