Banking, Lending and Fintech Topics

on May 10th, 2018.

Disruptive Compliance for Fintech Industry

We are in the era where Financial Crimes are evolving simultaneously with the controls that are implemented in the organizations. 


Fintech organizations lack robust guidance on how to adequately mitigate and address the challenges that come along with innovation and new technologies such as Regtech, Blockchain or Artificial Intelligence.


The Financial Action Task Force (FATF), has issued recommendations and reports on how these new trends and typologies could be assessed, however, one of the leading challenges is that local regulation such as the United States, Mexico or European Union, have not yet achieved the minimum standards proposed by these international bodies.


As Fintechs, we cannot rely upon our local regulation to tackle financial crimes. We are required and obliged to take the best international standards and practices to combat:


Money Laundering

Terrorism Financing

Bribery and Corruption

Circumventing of Sanctions

Tax Evasion


Market Abuse



The traditional AML perspective is now starting to become obsolete to attack the multiple-facet of the Financial Crimes.


Dolare is a US-based Fintech established in 2017 where our Compliance Team focuses on Financial Crimes Compliance (FCC), rather than the traditional AML approach.


Our Chief FCC Officer belongs to the International Compliance Association (ICA) in the UK and currently participates also in the Global FCC strategy and program for a top-tier Bank. 


Our AML and FIU Intelligence Teams follow the best international practices and standards to ensure that every Client and Client's Customers are doing the right kind of business, conducted in the right way.


Fintech companies are now at the right time to build trust with their regulators and achieve strong Compliance programs. For example, the Final CDD FinCEN Rule that targets Ultimate Beneficiary Owners over 25% could be appropriately addressed by implementing a 10% or even more aggressive approach.


We as Fintech, have the final word on those Clients that meet our Risk Appetite, and therefore, have sustainable economic growth.


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