On August 29, 2019, the Monetary Authority of Singapore (MAS) announced that it will start to accept applications for new digital bank licences. ...
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...
The European Payments Council (EPC) has released its final draft on mobile-initiated SEPA credit transfer interoperability implementation guidelines for a three-month public consultation....
The UK has inched closer to leaving the European Union without a deal on October 31 after Prime Minister Boris Johnson chose to suspend parliament for more than a month, leaving financial services...
The U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) has formed a new division to identify money laundering and other financial crime threats stemming from outside American...
On August 26, 2019, the Swiss Financial Market Supervisory Authority (FINMA) published guidance on payments on the blockchain. ...
UK e-money firm Moorwand is facing claims from alleged investment fraud victims that it processed payments for two online trading scams, an investigation by PaymentsCompliance has found.
The U.S. Consumer Financial Protection Bureau (CFPB) has announced its first-ever enforcement action based on violations of its remittance transfer rule, hitting Maxitransfers Corp with a $500,000...
Danish regulators have issued a warning to Coop Bank over its vulnerability to money laundering and terrorist financing, amid broader efforts to improve the country’s bruised image when it comes to...
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...
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.
On August 20, 2019, the Financial Conduct Authority (FCA) published a "Dear CEO Letter" on requirements for strong customer authentication (SCA) in card-not-present e-commerce transactions. ...
The Bank of Mexico (Banxico) has published a consultation on the proposed implementation of the electronic payment scheme initiated by the beneficiary called Digital Collection (CoDi)....
The Governing Council of the European Central Bank (ECB) has published in the official journal of the European Union Decision (EU) 2019/1349 of the European Central Bank of July 26, 2019 on the...
On August 13, 2019, the Reserve Bank of India (RBI) published the final enabling framework for the regulatory sandbox. The main objective of the regulatory sandbox is to enable market participants...
New U.S. sanctions against Venezuela fall short of a crippling embargo but are still likely to accelerate an exodus of foreign firms from any business involving the oil-rich nation, legal experts...

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