The General Data Protection Regulation (Regulation 2016/679), also known as the GDPR, significantly increases the responsibilities and obligations for payments businesses in how they collect and...
On May 24, 2019, the Federal Ministry of Finance in Germany announced the launch of a consultation seeking feedback in relation to a draft law aiming to transpose the provisions of the 5th Anti...
Swedish fintech Tink has written to regulators across Europe pleading for flexibility around next month’s open banking reforms, claiming its latest survey of banks shows there is not a single...
Payments consultancy CMSPI has said the potential cost savings from European interchange fee reforms are being undermined, due in part to scheme fee hikes and acquirers failing to pass on savings...
U.S. authorities have issued a new advisory to banks and money transmitters over foreign narcotics traffickers using the formal financial system to facilitate the sale of illegal synthetic opioids.
Germany has confirmed it will delay enforcement of incoming EU rules on strong customer authentication (SCA) for online card payments, with the country’s regulator and banking lobby blaming...
On August 15, 2018, the Treasury of the Australian government launched a public consultation on the draft Treasury Laws Amendment (Consumer Data Right) Act 2018, which aims to establish a new...
The Ministry of Finance and Development is consulting on a bill which will be implementing into Polish legal provisions the 4th Anti-Money Laundering Directive, as well as the recommendations of...
The online gaming industry appears to have the upper hand in its battle with the U.S. Department of Justice (DOJ) over the U.S. Wire Act of 1961, but a leading gaming attorney in Washington, D.C....
International card schemes may face new compliance headaches in Russia after laws were passed designed to prevent them from complying with US and EU sanctions in the country’s banking sector.
On August 20, 2019, the Financial Supervisory Authority (Finanstilsynet) announced that it will grant an extension to the deadline of September 14, 2019 to payment service providers (PSPs) for the...
Gambling giant Kindred was this week hit with a €470,000 fine for offering online gambling to Dutch customers without a licence, making it the latest in a string of operators caught out by their...
Poland’s financial regulator will delay enforcement of new strong customer authentication (SCA) rules and is happy to await further clarity on timings from Europe — even if nothing is issued until...
On August 17, 2019, Bank Indonesia launched a Quick Response (QR) Code standard for payments through server-based e-money applications, electronic wallets and mobile banking known as QR Code...
Visa is set to introduce a new scheme fee for payments that use the 3D Secure protocol, despite complaints from acquirers and retail groups that card acceptance costs are spiralling.
Australia’s central bank has again told off banks and acquirers for failing to comprehensively roll out least-cost transaction routing for contactless debit transactions, as industry groups claim...

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