From September, European firms will need to tread even more carefully around their operations in third countries when it comes to anti-money laundering (AML) — but idiosyncratic data protection...
The Reserve Bank of India has brushed aside pleas from global payments giants and pushed ahead with strict controls over data storage, despite suggestions from the government that it was...
On June 26, 2019, the Reserve Bank of India (RBI) published a set of FAQs on the storage of payment system data to ensure compliance with the data processing and storage guidelines by all payment...
UK regulators are upping pressure on regulated payments businesses that incorporate unregulated crypto-assets into their product offering — but industry groups believe that distinction is not yet...
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...
On September 5, 2018, Regeringskansliet, the Swedish Government Offices, published a proposal for the implementation into Swedish national law of the 5th Anti-Money Laundering Directive (Directive ...
Abiding by the ever-expanding reach of global sanctions laws is a growing worry for compliance teams at payment firms and banks, and the UK’s departure from the European Union could be about to...
On June 25, 2019, the Central Bank of the Russian Federation (CBR) published a consultation paper on draft amendments to the Regulation of October 15, 2015 No. 499-P "on customers identification by...
The U.S. threatened to cut off foreign financial institutions from U.S. correspondent banking networks on Monday night as President Donald Trump issued sweeping new sanctions against Iran’s leaders.
On June 23, 2019, the Bank for International Settlements (BIS) released a report discussing the emerging opportunities and associated risks that big tech activity in the financial sector presents....
On June 21, 2019, the Financial Action Task Force (FATF) adopted and issued an Interpretive Note to Recommendation 15 on New Technologies (INR. 15), which clarifies FATF’s previous amendments to...
On June 19, 2019, the Euro Banking Association (ABE-EBA), a practitioners’ body for banks and other service providers supporting a pan-European vision for payments through its initiative SMART2,...
Efforts to open up the euro’s payment and settlement scheme to wider access via application programming interfaces (APIs) has been put on hold, after fintechs insist on getting the first phase of...
The former head of the U.S.’ sanctions authority has said INSTEX, the payment instrument set up in Europe to enable trade with Iran, is unlikely to ever see success regardless of whether it enables...
On June 19, 2019, the Financial Supervisory Authority published the principles for determining penalties and fines. When determining the changes to the principles published in 2015, the regulator...
Facebook has finally pulled back the curtain on the worst-kept secret in Silicon Valley: a global peer-to-peer and retail payment system that seeks to plant the use of cryptocurrencies firmly in...

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