Articles with tag like: regulation

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ACCA releases recommendations on tackling fraud

News | Digital Identity, Security & Online Fraud | 21 Oct 2021

The Association of Chartered Certified Accountants (ACCA) have released a new report providing recommendations in tackling fraud and addressing ongoing concern issues.

report, regulation, fraud prevention, fraud management

ComplySci acquires NRS

News | Digital Identity, Security & Online Fraud | 21 Oct 2021

US-based provider of regulatory technology solutions ComplySci has bought compliance and registration company National Regulatory Services to support its clients’ needs.

acquisition, regulation, compliance, investment, digital identity

Danske Bank criticised by Sweden's financial regulator

News | Digital Identity, Security & Online Fraud | 21 Oct 2021

Sweden’s financial regulator has slammed Danske Bank for failing to overcome controls failures following a money laundering scandal.

regulation, AML, fraud prevention, money laundering

Credit Suisse fined USD 350 mln over loan scandal

News | Digital Identity, Security & Online Fraud | 20 Oct 2021

Credit Suisse has been fined nearly GBP 350 million by global regulators, pleaded guilty to wire fraud.

payment fraud, regulation, financial services, financial crime, lending

New Zealand invites to feedback on its AML/CFT Act

News | Digital Identity, Security & Online Fraud | 19 Oct 2021

New Zealand’s Ministry of Justice has invited feedback on possible changes to its AML/CFT Act as the country works to implement recent recommendations from the Financial Action Task Force (FATF).

AML, cybersecurity, fraud prevention, regulation

EBA repeals PSD1 internet payments security guidelines

News | Online & Mobile Banking | 18 Oct 2021

The European Banking Authority (EBA) has officially repealed its guidelines on the security of internet payments under the former Payments Services Directive (PSD1).

EBA, PSD2, regulation, Open Banking, fraud prevention

Central Bank of Nigeria issues updated framework on KYC and fraud prevention

News | Digital Identity, Security & Online Fraud | 18 Oct 2021

The Central Bank of Nigeria (CBN) has issued a Revised Regulatory Framework for Bank Verification Number (BVN) Operations and Watch-List for the Nigerian banking industry.

central bank, AML, KYC, regulation

Contactless payment limit in the UK rises to GBP 100

News | Mobile Payments | 15 Oct 2021

The UK HM Treasury and the Financial Conduct Authority have announced the increase of the contactless payment limit to GBP 100 following a public consultation with the retail and banking sectors.

regulation, contactless payments, mobile payments, debit card, credit card

Crystal partners with Notabene to provide FATF Travel Rule compliance

News | Digital Identity, Security & Online Fraud | 15 Oct 2021

Netherlands-based blockchain investigative tool Crystal Blockchain has announced a partnership with Notabene, a Financial Action Task Force (FATF) Travel Rule solution provider. 

partnership, regulation, FATF, fraud prevention

UAE introduces licensing regime for payment service providers

News | Payments General | 13 Oct 2021

The Central Bank of the United Arab Emirates (CBUAE) has continued efforts to prepare the country for digital payments with a regulation licensing retail payment services.

central bank, regulation, payment processing, digital payments, Issuer

Binance to shut down yuan trading after China's crypto ban

News | Cryptocurrencies | 13 Oct 2021

Binance is shutting down peer-to-peer trading of the yuan, closing one of the last workarounds for Chinese users after Beijing’s blanket ban on cryptocurrency transactions.

Binance, cryptocurrency exchange, central bank, regulation

Napier helps startup Qashier with AML technology

News | Digital Identity, Security & Online Fraud | 13 Oct 2021

Regtech company Napier has announced that integrated point-of-sale (POS) and payment solutions startup Qashier is the latest to adopt its anti-money laundering (AML) technology.

Napier, transaction monitoring, Monetary Authority of Singapore (MAS), regulation, AML

BIAN develops coreless banking platform

News | Online & Mobile Banking | 12 Oct 2021

Germany-based independent not-for-profit standards association BIAN has launched the second iteration of its ‘Coreless Bank’ initiative. 

mobile banking, regulation, online banking, data sharing

CFPB makes changes to credit card data submission process

News | Cards | 11 Oct 2021

The US Consumer Financial Protection Bureau (CFPB) has issued new technical specifications for the credit card agreement submission process.

credit card, regulation, Issuer, banking

Star Finanz receives Bafin license

News | Online & Mobile Banking | 11 Oct 2021

Germany-based online and mobile banking solutions provider Star Finanz has announced receiving a BaFin banking license.

BaFin, mobile banking, banking license, regulation

New Zealand's Ministry of Justice assesses AML/CFT regulation and calls for changes

News | Digital Identity, Security & Online Fraud | 08 Oct 2021

The government of New Zealand has announced its statutory review will release information about how the AML/CFT act has performed since it’s commencement and whether any changes are necessary.

regulation, AML, CFT, fraud prevention, FATF

Central Bank of Brazil postpones Open Banking governance definition to 2022

News | Online & Mobile Banking | 08 Oct 2021

The Central Bank of Brazil has postponed to June of 2022 the deadline for Open Banking participants to define their definitive governance structure. 

central bank, Open Banking, regulation, API

NatWest to be fined with GBP 340 mln

News | Payments General | 08 Oct 2021

NatWest has announced it could face a fine of up to GBP 340 million after it pleaded guilty to three charges failing to comply with money laundering regulations between 2012 and 2016.

regulation, AML, banks, FCA

Westpac accredited as data recipient under Open Banking

News | Online & Mobile Banking | 07 Oct 2021

Australian Competition and Consumer Commission has approved banking group Westpac as an Accredited Data Recipient under the Consumer Data Right.

Open Banking, regulation, API, banks

Brazil could adopt Bitcoin as legal tender

News | Cryptocurrencies | 07 Oct 2021

Brazil’s Federal Deputy Aureo Ribeiro has revealed that Brazilians could soon be able to buy consumer goods and services using Bitcoin.

cryptocurrency, Bitcoin, regulation