FinTechs need to have a robust AML Compliance program and roadmap to avoid any gaps leaving them vulnerable and open for serious fines.

KYC and AML are necessary elements of today’s macro economy and are important components of the crypto space to drive adoption.

On August 8, 2002, The New York State Department of Financial Services (NYDFS) fined a $30 million penalty against Robinhood's crypto...