Compliance Lens: Insights on AML/KYC

The financial landscape in India is undergoing a significant transformation with the rise of FinTechs and NBFCs . However, this growth is accompanied by an emerging threat - Synthetic Identity Fraud . As financial services become increasingly digitized, the risk of fraudulent activities compromising security and financial integrity is on the rise. The digitization of financial services has made it imperative for FinTechs and NBFCs to understand and address this threat to maintain customer trust and comply with regulatory requirements. Digital Identity Verification is becoming a crucial aspect in mitigating this risk. Key Takeaways Synthetic Identity Fraud  is a growing concern for Indian FinTechs and NBFCs. Digital Identity Verification  is key to mitigating this risk. FinTechs and NBFCs must comply with regulatory requirements. Maintaining custom...

  Balancing Data Privacy and AML Compliance in India — A Tough Act Financial institutions , compliance officers , and legal teams in India face a growing challenge: protecting customer data privacy while meeting anti-money laundering requirements . New privacy regulations demand strict data protection, but AML compliance requires extensive data collection and sharing with authorities. This guide is for banks, fintech companies , and compliance professionals who need to navigate both data privacy and AML obligations without compromising either. We'll explore how India's evolving privacy landscape clashes with established AML frameworks , then dive into practical solutions that help organizations meet both requirements. You'll also discover how technology can streamline dual compliance and learn to build internal capabilities that make sustainable compliance possible. The stakes are high— regulatory penalties , reputation damage, and operation...