Estonia’s finance minister has called for a reconsidered approach to anti-money laundering (AML) processes among the country’s banks, claiming that an overly risk-averse approach is restricting...
The INSTEX payments instrument is still secure for the foreseeable future despite the challenges facing the Iranian nuclear deal more broadly, but the prospective mechanism remains at the mercy of...
As cross-border payments continue to grow, the decline in correspondent banking relationships driven by de-risking concerns remains a significant challenge for the sector, according to the U.S....
The defendant in a lawsuit over the filing of a suspicious activity report (SAR) is asking the U.S. Supreme Court to keep in place a lower court's ruling affirming that regulated entities have...
New guidelines apply from January 10, 2020 for the cooperation and exchange of information between EU member states’ competent authorities for credit and financial institutions. This analysis...
Senior European figures are downplaying the possibilities of a comprehensive post-Brexit agreement on financial services as the January 31 exit date approaches.
UK regulators have launched an inquiry into the role of data in supervision and reporting, calling for views on the potential use of new technologies for monitoring firms.
PSD2 entered into force on January 13, 2018 repealing Directive 2007/64/EC (PSD1).  The revised Payment Services Directive (Directive (EU) 2015/2366), also known as PSD2, introduced new obligations...
UK Finance has criticised the burden on firms caused by a disjointed supervisory landscape in the UK, calling for better coordination between authorities and a more sophisticated understanding of...
Nigeria has laid out its information security expectations for payment services operating in the country as it continues to seek to drive adoption of electronic payment methods.
With U.S. regulators and lawmakers angling for enhanced disclosure requirements around beneficial ownership, officials are seeking banking sector input on the burden of complying with existing...
Luxembourg has flagged the money laundering and terrorist financing risks posed by private banks in the country, listing some ongoing shortcomings in the risk mitigation measures carried out by...
After a 2019 in which payment firms found themselves running to keep up with new regulations and the efforts of authorities to fill the gaps in existing laws, many — including regulators — are...
The Ministry of Economy and Business has published Royal Decree 736/2019, of December 20, on the legal regime of payment services and payment entities, which modifies Royal Decree 778/2012, of May...
Contention over the finer points of new payments regulation continued to rage in Europe, with industry and regulators clashing over issues with new strong authentication requirements and the...
Still behind Europe when it comes to the regulatory implementation of new measures such as open banking, the Americas nonetheless continued to make strides in the development of new payment systems...

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