The Dutch banking industry has called for the creation of a pan-European financial intelligence unit and closer ties between regulators and banks as it unveiled its wishlist for reforms to the EU’s...
U.S. fraud experts and consumer rights advocates have urged lawmakers not to let screen scraping form part of any open banking initiative, calling for laws to be extended to ensure the introduction...
Nordic lender Swedbank has been forced to declare it is not aware of any violations of US sanctions on Russia after an investigation suggested it processed payments for a blacklisted company.
U.S. attempts to bolster beneficial ownership requirements have been hailed as a significant step in the fight against money laundering via shell companies, but observers warn the bill's vague...
Australian bank Westpac is facing the prospect of hundreds of billions of dollars in fines as it stands accused of allowing correspondent banking transactions to go through without the required due...
Regulators must be wary of the risks posed by banks providing account access to unregulated fintechs as open banking models take shape, an influential group of central banks has warned.
A post-mortem on TSB’s high-profile IT meltdown last year has excoriated the bank for acting “without sufficient considerations of the risks” when transferring operations to a new system, leading...
U.S. officials are cracking down on enforcing regulations requiring cryptocurrency service providers registered as money services businesses to identify the senders and recipients of digital...
The UK’s Financial Conduct Authority (FCA) will launch consultations on an “open finance” framework later this year, as the regulator looks to extend open banking beyond only payment accounts.
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...
German lawmakers are standing by plans to force Apple to open access to its payments infrastructure to other providers, despite fierce resistance from the Silicon Valley giant.
Swedish authorities are plotting further improvements to the country’s anti-money laundering (AML) regime, doubling down on weaknesses exposed by recent Baltic scandals and bulking up the country’s...
The UK’s top payment system operator has rejected banks’ proposals for a 2.9p transaction levy on fund transfers to fund payouts for consumer fraud losses, claiming there is insufficient wider...
Danish regulators have instructed Handelsbanken, one of the largest banking groups in the Nordics, to bolster its defences against money laundering and terrorist financing after an on-site...
As the UK’s first open banking offerings start to gain consumer traction, fraudsters are already beginning to move into the space — pressuring banks to find out new ways of stopping them.
Several European regulators have issued a joint letter calling for a single supervisor to combat financial crime on the continent, emphasising the shortcomings built into a currently fractured...

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