Australia’s top consumer protection regulator has issued a warning over the fraudulent use of prepaid gift cards, cryptocurrencies and money remittance firms, after losses soared to almost half a...
On April 25, 2019 the Russian Electronic Money and Remittance Association (REMA) signed a memorandum of understanding (MoU) on the general standards for the servicing of inactive e-wallets....
On April 25, 2019, the Monetary Authority of Singapore (MAS) updated its E-Payments User Protection Guidelines to clarify that they do not override customers’ instructions to their financial...
On April 24, 2019, the European Banking Authority (EBA) published an opinion on the nature of passport notifications of payment institutions and electronic money institutions using agents and...
The EU’s top payments regulator has stepped into a row between member states over supervision of firms passporting across national borders, taking a relatively tough stance on the controversial...
The Financial Conduct Authority (FCA) has cooled its interest in introducing a duty of consumer care for regulated firms, after consultation respondents warned of legal uncertainty, higher costs...
On April 17, 2019, the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) announced that, as of September 14, 2019, Article 55(1) of the Payment...
On April 17, 2019, the Financial Conduct Authority (FCA) published a consultation paper on regulated fees and levies for 2019/20. The FCA proposes an increase of 2 percent to its budget for ongoing...
Finland will bolster its anti-money laundering (AML) department and implement a more stringent risk-based approach to supervision following criticism of its measures for combating financial crime.
The Dutch central bank and payments regulator has responded to claims that its licensing process for UK fintech firms is inefficient, insisting several applications are underway and the country...
The UK has opened consultations on its approach to EU-wide anti-money laundering reforms, restating its plans to regulate a wider range of crypto-asset activities and tighten controls on e-money...
On April 15, 2019, the State Revenue Service (SRS) issued a reminder to supervised persons that they must have implemented an internal control system by May 1, 2019.As per the amendments made to...
Stimulating Japan’s financial services by harvesting payment data and preparing the country for an influx of visitors for the 2020 Olympic Games are at the heart of the country’s push to encourage...
On April 11, 2019, the Law on Amendments to the Law on Prevention of Money Laundering and Financing of Terrorism (Official Gazette 39/19) (izmjenama i dopunama zakona o sprječavanju pranja novca i...
The UK and EU have agreed to extend the deadline for finalising the terms of the UK’s exit from the union, meaning the threat of crashing out without a deal has been postponed to October 31 this...
European authorities are seeking to patch the cybersecurity-shaped holes in existing payments legislation, pushing for the introduction of minimum standards around security and risk management as...

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