Heightened scrutiny ahead for fintechs from AML regulators

The distinctive features of fintech firms can make them vulnerable to exploitation by money launderers. Jonah Anderson and Claire Wynne-Jones consider steps for a fintech to investigate AML concerns raised by a regulator or the media, along with how to minimise risk exposure.

Jonah Anderson (jonah.anderson@whitecase.com) is a partner who co-heads the London Financial Crime team for White & Case, while Lucy Rogers (lucy.rogers@whitecase.com) is an associate with the firm's White Collar group and contributed to this article. Claire Wynne-Jones (cwynne-jones@forensicrisk.com) is a manager with Forensic Risk Alliance. Any views expressed in this publication are strictly those of the authors and should not be attributed in any way to White & Case LLP.

Regulators around the world continue to prioritise anti-money laundering enforcement. This comes as the United Kingdom Government pushes to take a more robust stance towards preventing financial crime. As a result, businesses, and especially fintechs, are increasingly finding themselves subject to AML scrutiny by regulators and the media.