Why This Matters
Why this matters: Finance leaders must understand emerging compliance risks in fintech partnerships, particularly around sanctions evasion and layered issuing structures that could expose their organizations to regulatory liability.
Crypto card issuers are exploiting corporate issuing loopholes to offer "no KYC" cards, with Bitsika reportedly using Sutton-issued cards to facilitate Iran sanctions evasion. The article also covers Varo's $123.9 million Series G fundraise and discusses broader compliance risks in layered fintech partnerships.
Substack
fintechbusinessweekly.substack.com
Finance teams need to assess compliance and sanctions risk exposure in any fintech partnerships or payment infrastructure relationships, as regulatory gaps in corporate issuing structures could create unexpected liability.
Crypto card issuers are exploiting corporate issuing loopholes to offer "no KYC" cards
Bitsika reportedly using Sutton-issued cards to facilitate Iran sanctions evasion
Broader compliance risks in layered fintech partnerships
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