On September 30, 2019, the National Assembly approved a bill to enhance penalties and sanctions for money laundering. The Anti-Money Laundering (Amendment) Bill 2019 aims to restructure the...
An entity marketing itself as a payment processor is at the center of a lawsuit accusing a cryptocurrency exchange and stablecoin issuer of market manipulation, resulting in damages claims of $1...
The body in charge of the UK’s real-time interbank payment system is being pressured to introduce a fee on all transactions to fund reimbursement of fraud victims, with the current bank-funded pot...
A survey by the Dutch central bank has revealed deep unwillingness of consumers in the Netherlands to grant third parties access to their account data, another thorn in the side of the country’s...
A major retail association representing the travel sector says its members have reported “serious transparency issues” around the fees charged by acquirers when accepting card payments.
On October 4, 2019, the Finnish government announced it had approved a decision on the Cybersecurity Strategy 2019. The strategy is based on the Cybersecurity Strategy 2013 and its purpose is to...
A director of the UK’s cyber-crime defence unit has told financial firms that state-sponsored hackers in North Korea are targeting banks and payment systems as a means of raising funds for the...
Cross-border investigations triggered by suspicious transaction reports from European financial institutions could be crippled by advice that the system used to share the filings is illegal.
Pakistan authorities have come under heavy criticism for poor oversight and enforcement within the country's lucrative remittance sector, after a new review of financial crime controls tipped it...
The head of Europe’s apex banking association has called for a “radically new approach” to reporting money laundering as the EU wrestles with how to unify anti-money laundering (AML) policies...
The Danish Financial Supervisory Authority (FSA) has launched a consultation on amendments to the Payments Act, to allow the Competition and Consumer Authority to intervene if fees on direct debit...
New European rules on outsourcing came into effect across all member states this week, but financial institutions still face uncertainty about what the new landscape means for their business...
Further legislative and regulatory action is needed to clear the lingering haze around the banking issue facing the U.S.’ legalized cannabis industry, despite the recent passage of a landmark bill...
Financial institutions headquartered in Europe but operating elsewhere face “significant” consequences if they do not identify conflicts between EU laws on anti-money laundering (AML) and those in...
On October 1, 2019, the Ministry of Finance submitted proposals for a new law that aims to ensure better access to cash services for businesses and consumers in Sweden. The proposal would require...
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...

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