Fourthline

🚀 MiCA: not just a crypto rulebook, but a launchpad for innovation In his latest opinion piece, our CFO Peter Grausgruber draws fascinating parallels between neobanks and the crypto sector, highlighting how MiCA (Markets in Crypto-Assets) could shape the future of digital assets in Europe. Key takeaways: ➡ MiCA brings much-needed clarity to the crypto space, similar to how PSD2 revolutionized neobanking ➡ Regulatory frameworks like MiCA can foster innovation and growth in the crypto sector ➡ Adapting to evolving regulations will be crucial for success in the new financial landscape (Take a look at our MiCA navigator: https://lnkd.in/ejYSYF22) At Fourthline, we're at the forefront of navigating these regulatory changes. Our expertise in compliance and KYC/AML solutions positions us as the ideal partner for crypto companies looking to thrive in this new era. Ready to future-proof your crypto business? Let's connect and explore how Fourthline can help you stay ahead of the regulatory curve. Read the full article in German or use your favourite tool to translate it👇 https://lnkd.in/eM5BfETK

⬛Is your bank's AI a dangerous black box? Our latest article dives deep into the world of AI transparency in financial institutions. Uncover: ➡ The hidden risks of opaque AI decision-making ➡ How AI is revolutionizing KYC and AML processes ➡ Our approach to ethical data use and human oversight Don't let your bank get caught in the dark. Learn how to harness AI's power while staying compliant and secure. 👉 Get in touch to find out more about our solution! https://lnkd.in/drDhirJs

🚚 Criminals exploiting video games 🧭 Fragmented and multiplied cybercriminal landscape 🏹 Jersey’s improving measures to combat money laundering 🛫 Trump’s courting of the crypto industry  📆 EU AML package and implications for the Dutch Action Plan Welcome to the last edition of the summer. From political developments to the national implications of the EU's AML regulations, there was more than enough action this week. Happy reading and see you in September!

🚚 Selling Scam-as-a-Service 🧭 How will stablecoins impact the UK’s payment regime? 🏹 Robinhood goes after Disney 🛫 Could 2024 be a better year for fintechs? ⚔️ West African organized crime under attack by Interpol 📆 Rollout schedule for the EU’s AI Act Good morning! Friday is once again here, meaning a week of fresh developments in the compliance sphere. Read the newsletter 👇

🦹♀️ 18 arrested in anti-mafia operation 🧺 Nordea charged with money laundering 🧱 Modular identity VS off-the-shelf KYC 💎 Bolsonaro indicted for undeclared jewelry 😨 Are Europeans afraid of AI? 🔮 The future of crypto under MiCA Good afternoon! Welcome back to Friday’s Final Word where we revisit the latest novelties and main developments in the financial crime landscape. This week’s stories include:

Off-the-shelf KYC solutions have long been the industry norm. However, compared to modular identity platforms, they have several drawbacks 🛑 The off-the-shelf solutions usually come “as are” and can’t accommodate different use cases and needs. This can create friction since, for example, a non-financial business doesn’t necessarily need the most heavyweight, bank-grade solution on the market. In contrast, a modular system lets you select the components that address your specific challenges. That way, they can provide a more, targeted approach that can be adjusted as your needs evolve without overhauling the entire system. Click on the link in the first comment to read the full article 👇

🧶 Disentangling the zigzaggy flow of Mexican drug money 📜 Panama Papers trial leads to 28 acquittals 🛠️ FATF welcomes Turkey’s AML improvements ⚽️ Crypto scammers turn to Harry Kane 🏎️ Singapore accelerates money laundering prosecutions 🎳 Crypto regulation as “anarcho-tyranny”? Good morning! Before we would wrap up another week, let’s revisit some of the main stories of the past days, from Chinese-Mexican money laundering to a crypto scam involving Harry Kane.

🏧 From cashless to unlawful – The Swedish experience 🧭 Navigating local KYC compliance 🔬 UAE under investigation after damning revelations ⚽️ Italy’s fight against illegal streaming 💰 Singapore’s money laundering track record 📚 EU publishes new AML package Good afternoon! Euro 2024 might be catching all the headlines these past weeks, or when not watching football, one might be at the beach, but financial crime is not taking a break.

🌍 An insight into Spain's digitalization journey PIERRE W. MATTA, our Country Manager for Spain and Southern Europe, recently shared his insights in Computing España (BPS) (in Spanish) about Spain's impressive digital strides. The latest Digital Economy and Society Index (DESI) ranks Spain as the 7th most digitized country in the EU. This growth underscores the crucial need for robust cybersecurity measures. This is where Fourthline comes into the picture! Take a look at Pierre's key points: ➡ AI-Driven Fraud: The rise of AI-driven fraud, especially synthetic identities created with generative AI, poses a significant challenge. ➡E-Commerce Growth: The boom in e-commerce is another major factor driving the need for advanced security solutions. ➡Multi-Point Verification: At Fourthline, we verify multiple data points and conduct random checks to effectively combat fraud.   Want to learn more about our approach? Feel free to reach out to Pierre! https://lnkd.in/dNCYkiKn

🌍For fintechs, EU market expansion isn’t just a matter of scaling up technology or attracting new customers. It involves navigating an intricate web of market-specific interpretations of broad EU-level Know-Your-Customer (KYC) and Anti-Money Laundering (AML) regulations. As well as regulatory specifics, European countries also have cultural differences. To overcome them, companies should prioritize glocalization, in which you adapt global products to local markets. This will ensure you resonate with local regulatory requirements, cultures, and preferences. In Europe, these can vary as much as language. Read the full article 👉 https://lnkd.in/gxphGXug