Once seemingly dull and opaque, the payments industry has muscled itself to prominence at the front of the financial world.
There is little sign that U.S. banks will reverse de-risking practices, legal experts have said, despite growing tension with international money remitters no longer able to gain bank accounts.
The UK's Financial Conduct Authority is looking to overhaul its anti-money laundering regulation as the EU’s Fourth Anti-Money Laundering Directive piles greater pressure on financial institutions...
US Treasury officials are working with the Internal Revenue Service to develop a crypto-currency training program for tax inspectors, as it attempts to stop banks from becoming proxy regulators...
A Financial Stability Board report has called for regulatory clarity and intervention by authorities to help reverse the trend of de-risking by banks, which it says is harming the “vital” cross...
When the difference between entry to a trillion-dollar market and brutal regulatory punishment hinges on getting a proper copy of a director’s passport from a developing country, TransferTo chief...
Australia’s top financial crime watchdog has said improved industry vigilance led to a 300 percent increase in suspicious transaction reports about terrorist financing.
Banks are unlikely to stop de-risking accounts of certain payment companies despite fresh criticism from anti-money laundering watchdogs, industry experts believe.
Bangladesh’s top financial regulator has appealed for “urgent” action from UK and US authorities to address banks’ de-risking practices, which it claims is choking a $15trn remittance industry.
A UK government department has offered a lifeline to remittance businesses strangled by de-risking procedures, proposing a new digital cross-border payment system designed to bypass banks.
The Financial Action Task Force, the global anti-money laundering watchdog, is to work with remittance companies and banks to tackle de-risking, which it claims is fuelling an illicit market in...
Australia’s banks must face competition watchdogs for denying Bitcoin companies accounts, as global institutions crushed by compliance costs thrust the de-risking issue back into the spotlight. 
U.S.-led regulatory pressure on banks is crippling the Caribbean’s remittance industry, undermining efforts to fight financial crime and encouraging a fund transfer black market, experts have said.
A sweeping report into Australia’s financial crime detection flaws has criticised banks for shutting or denying accounts for payment remittance companies, as an overhaul of laws becomes...
Western Union’s remittance services in the Bahamas, the Cayman Islands and Turks and Caicos have been shut down due to “excessive” regulatory pressure and compliance costs hurting its partner bank.
PaymentsCompliance looks at the UAE remittance market as industry voices claim soaring compliance costs are squeezing Middle East banks and forcing them to cut ties with money transfer businesses.

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