A proposed reworking of state-level money services businesses licensing could provide much-needed regulatory clarity for U.S. fintechs, but there is still room for reducing the regulatory burden on...
Despite a U.S. federal judge dismissing a lawsuit from state regulators seeking to block plans for a federal fintech charter, the path forward remains a rocky one — and the lingering uncertainty...
Cryptocurrency firms are urging U.S. authorities to consider a ground-up, purpose-built regulatory framework for the technology, amid fears that hostility towards Facebook’s Libra project could...
With Facebook scheduled to appear before U.S. Congress this week to make the case for its cryptocurrency project Libra, the social media giant faces an uphill struggle to convince wary legislators...
A New York gang of fraudsters has been indicted for allegedly running a prepaid gift card laundering ring that turned a profit of a million dollars per month.
Western Union has agreed to a fine over allegations it violated U.S. sanctions by processing transactions to a recipient entity in the Gambia that was deemed to have ties to terrorism funding.
New York’s financial regulator will get its day in court against the Office of the Comptroller of the Currency (OCC) over the federal authority’s plans to introduce a bank charter for fintechs,...
Less than one week after fining Standard Chartered $1.1bn over failures in its sanctions and anti-money laundering controls, U.S. authorities have hit another European bank, UniCredit, with an even...
Bittrex, one of the world’s largest cryptocurrency exchanges by volume, is crying out for “regulatory clarity” in the United States, the company’s chief strategy officer told a blockchain...
U.S. banks and payments providers eyeing state-legalized cannabis businesses must battle with both a lack of legal clarity at the federal level and difficulties carrying out due diligence on...
Banking giant Standard Chartered will pay a total of $1.1bn in fines to United States and UK authorities after allegations it failed to properly apply anti-money laundering (AML) and sanctions...
Are influential regulators, international standards-setters and financial sector participants doing enough to tackle de-risking? PaymentsCompliance speaks to J. Andrew Spindler, a former New York...
A plan by the U.S. Consumer Federal Protection Bureau (CFPB) to revamp its no-action letter program is the “boldest step yet” by federal regulators to establish a fintech sandbox that firms...
The fight against financial crime in the Americas reached an ever-higher pitch in 2018, with new and innovative methods of sanctions evasion sprouting as quickly as enforcement agencies could cut...
On December 4, 2018, the New York State Department of Financial Services (DFS) announced it had issued Signature Bank with authorization to offer a new digital payment platform, Signet. Prior to...
Banking giant Société Générale has been handed the U.S.’ second largest-ever fine for “willful violations” of international sanctions, devising systems to facilitate illicit fund transfers worth...

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