Elon Musk, owner of ‘X’ (or Twitter), has announced plans to turn the social media platform into an app that is the centre of ‘someone’s entire financial life”. 

But while Musk may be one of the original founders of PayPal, there is a lot which needs to be worked out from a compliance perspective when turning a social media site into a financial tool capable of replacing the banking system. 

In the latest episode of The Laundry – our expert host, Marit Rødevand, is joined by Jason Mikula, Publisher of Fintech Business Weekly to discuss what Elon Musk needs to know about AML and compliance.

The pair discuss: how Musk envisions Twitter's move into financial services, the compliance hurdles needed to be jumped to get there, and how easy it is to move from posting to paying.

Producer: Matthew Dunne-Miles

Engineers: Dominic Delargy, Nicholas Thon

____________________________________

The Laundry podcast: Dive deep into the intricacies of financial crime, AML (anti-money laundering), compliance, sanctions, and the ever-evolving landscape of financial regulation.

Hosted by Marit Rødevand and Fredrik Riiser – this podcast features renowned experts from sectors such as banking, fintech, compliance, and investigative journalism.

Together, they shed light on the industry's trending topics, analyse mainstream news through a compliance-focused lens, and connect the fight against financial crime to its real-world consequences and ramifications.

The Laundry is proudly produced by Strise, an AML Automation Cloud.

Get in touch at: [email protected]

Subscribe to our newsletter, Fresh Laundry, here.

Hosted on Acast. See acast.com/privacy for more information.