Treasury Report Identifies Gaps in AML Compliance Risk
A new report from the US Treasury has identified just how much more oversight is required in the fintech sector to help ensure AML Compliance. The report - "Assessing Impacts of New Entrant Non-Bank Firms on Competition in Consumer Finance Markets" - highlights how the fintech market is creating a wealth of new opportunities and advantages for consumers but also many loopholes in security. Consumer protection and market integrity, in particular, are at risk from the practices that currently exist...
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