Fintech companies must take AML seriously

Author: Amélie Labbé | Published: 5 Apr 2017

The level of risk banks face is influenced by many factors, including their size and the jurisdictions they do business in. That level of risk will also have an impact on the compliance and due diligence processes financial institutions will be required to carry out. 

By the same logic, smaller fintech businesses will therefore be on the receiving end of lighter oversight from authorities than their larger counterparts, according to speakers at last Thursday’s FinTech Europe 2017 event in London.

But this doesn’t mean they are completely free to carry out any activity completely unregulated, as they will still have to comply with a...