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...
Payment services giant PayPal has succeeded in its long-running attempts to crack China’s booming payments market by acquiring a licensed local firm, in what it said is a world-first for a foreign...
On September 30, 2019, the presidency of the Council of Ministers approved Decree Law no. 147/2019, containing a package of contingency measures to be put in place in the event of the UK departure...
On September 30, 2019, UK Finance announced the “Community Access to Cash Initiative”, which aims to help local communities secure access to cash and payment facilities. The initiative recognises...
U.S. regulators have been urged to provide better feedback to financial institutions on suspicious activity reports, with current arrangements facing criticism for being too informal and small-scale.
A U.S. House of Representatives hearing has brought some indications that the need to establish real-time payments at large across the country could overcome partisan differences about whether the...
On May 27, 2019, the European Payments Council (EPC) published two documents: a clarification paper on SEPA Credit Transfer (SCT) and SEPA Instant Credit Transfer (SCT Inst) Rulebooks (Version 1.4)...
U.S. lawmakers have butted heads over the Federal Reserve's plan to develop and run its own real-time payments settlement service, with Republicans contending that the private sector should lead...
Banks and payment institutions are bracing for even more sanctions compliance headaches as the UK government confirms it will introduce its own Magnitsky regime after Brexit.
Australia’s financial crime regulator has ordered global payment services giant PayPal to conduct an audit of its reporting of international money transfers amid concerns the service has been used...
The Ministry for General Government Affairs and Finance has published the approved amendment to Annex 3 of the Due Diligence Ordinance (Law Gazette No. 2019/232). The amendment includes the...
On September 20, 2019, the Bulgarian Ministry of Finance published a consultation on the Draft Law on Amendments and Supplementing Law on Payment Services and Payment Systems (LPSPS). The draft law...
A UK bank has agreed to pay a penalty to the United States' sanctions enforcer despite believing it had structured transactions to avoid coming into contact with the U.S. financial system.
Prosecutors in Denmark have charged Københavns Andelskasse bank with money laundering, just more than a year after it was taken over by the authorities.
On September 20, 2019, the Ministry of Finance published an agreement titled "Strengthening the Possibilities for Intervention on Fees for Payment Services", which allows the minister of business...
Europe’s banking lobby has called on the European Banking Authority to put in place a harmonised non-enforcement period of 18 months for new authentication rules for online card payments.

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