On May 23, 2019, the Bank of Israel announced that, as part of its initiative to increase competition in the banking system, it intends to undertake a project with the aim of simplifying the...
Berlin-based challenger bank N26 has found itself in more regulatory hot water after German regulator BaFin ordered it to tighten up its anti-money laundering controls following a number of recent...
Authorities in the Vatican have given a rare glimpse into the finances and money laundering controls at the Holy See’s bank, one of the world’s most secretive financial institutions.
On May 22, 2019, the Financial Supervisory Authority (Finansinspektionen – FI) announced that it intends to abide by and implement the European supervisory authorities’ (ESAs) common guidelines on...
On May 22, 2019, the Payment Systems Regulator (PSR) released a consultation paper setting out its proposals on its approach to the merchant survey, as part of its initiative to conduct a market...
On May 21, 2019, the Central Bank of the Russian Federation (CBR) published its Order "on establishment of mandatory requirements for non-credit financial organisations to ensure data protection in...
The UK’s top consumer rights watchdog has issued a list of demands to banks and regulators over spiralling payment fraud just days before a voluntary industry reimbursement code is set to be...
Amid continued efforts to combat money laundering in the United States, officials are keeping their crosshairs on the use of shell companies to facilitate financial crimes and urging stricter...
On May 21, 2019, the National Bank of Romania (NBR) published a consultation on draft regulations on preventing and combating money laundering and terrorism financing....
Authorities in Europe appear to be inching closer to a compromise on incoming strong authentication rules, following sustained warnings the reforms cannot be met in time for September’s deadline.
India has confirmed that non-banks will be able to use the national identity database Aadhaar for their know your customer (KYC) requirements, ticking one goal off a list before an even more...
On May 15, 2019, the Financial Sector Conduct Authority (FSCA) in South Africa released a consultation paper on a draft conduct standard for banks, under the mandate of the Financial Sector...
On May 17, 2019, the European Central Bank's (ECB) Internal Crypto-Assets Task Force (ICA-TF) published a report titled "Crypto-assets: Implications for financial stability, monetary policy, and...
The Philippines is open for business for fintech firms, the country’s central bank and payments regulator has told PaymentsCompliance, as authorities pursue a vigorous financial inclusion drive.
As Canada inches closer to establishing an open banking framework, industry insiders say clarity is needed around where liability sits in the value chain and what the role of government authorities...
UK lawmakers have suggested that the Financial Conduct Authority (FCA) could play a greater role in sanctions implementation, as legislators bring greater pressure to introduce a Magnitsky-style...

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