February 16, 2023 – BNPL programs are still relatively small in terms of their share of total purchase volume, but they have grown dramatically over the last three years. Although this growth is impressive, it is also a little frightening from a financial crimes and regulatory risk perspective. This warrants increased attention by risk and compliance leaders.
This report provides an overview of the BNPL market and its participants, and explores the different fraud threat vectors as well as AML and regulatory challenges affecting BNPL programs. It is supported by desk research of publicly available information and reports along with interviews with fraud prevention experts from leading organizations.
Clients of Aite-Novarica Group’s Fraud & AML service can download this report.
This report mentions Affirm, Afterpay, Barclays, Chase, HSBC, Klarna, and NatWest.