After years of discussion, the European Parliament adopted the General Data Protection Regulation (GDPR) on April 14, 2016, and the text was published in the Official Journal of the European Union...
Cyber-attackers are increasingly targeting core financial systems and payment data, experts have said, with fintech businesses warned that complacency could lead to costly legal action.
Executives have been told to take greater responsibility for data security around payment cards, as industry guidelines are overhauled amid heightened worries about cybersecurity in finance.
Incoming European data regulations are being recast as an opportunity for financial services to build trust and gain customers, despite the extra burdens the rules will put on businesses.
A proposed revamp of UK money laundering laws would result in new payment methods facing greater scrutiny, as the government bolsters its defences against financial crime.
Attempts to use modern technology such as biometrics to identify customers are being stymied in the UK by large banks keen to protect their businesses, according to an influential industry voice.
Long-awaited data protection reforms have been formally voted in by the European Union, after overwhelming approval in the European Parliament on Thursday.
After four years of discussion within the European institutions and close to 4,000 suggested amendments, the General Data Protection Regulation (GDPR) will be debated today and voted on tomorrow...
The UK’s foremost financial regulator acknowledged that changes to payments regulation are creating barriers to innovation in the country, following a government consultation on digital technology.
Terrorist groups may still be using remittances as a source of obtaining financing, experts have warned, despite extensive efforts by banks and policymakers to block transfers into areas controlled...
Theft of payment card data online is in relative decline as hackers become increasingly interested in stealing personal data to commit identity fraud, a major report has found.
Biometric authorisation continues to take the payments industry by storm despite warnings from legal experts that impending EU data laws could introduce stringent new requirements.
European authorities will target big companies after the passing of a trio of rules on payments, data protection and online security, according to the executive of a major compliance body.
The European Commission is seeking to harden consumer control over personal information as it tries to persuade citizens that their data is already being used as a form of payment.
Payment providers and other financial services groups could be particularly exposed to draft data protection reforms agreed last week by the EU’s main bodies, according to legal experts.
Payment service providers under mounting regulatory pressures can breathe slightly easier today as the sector escaped inclusion in a long-delayed EU cybersecurity directive at the 11th hour.

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