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FATF Issues Risk-Based Guidance For Money Transfer Firms
24th Feb 2016 | Written by:
New guidance on the risk-based approach to tackling illicit laundering of money and value transfer services has been issued by the Financial Action Task Force (FATF), the global anti-money...
De-Risking Probe Clears Australian Banks Over Ditching Bitcoin
16th Feb 2016 | Written by:
Australian banks have been cleared of conspiring to stifle Bitcoin firms by refusing to bank them, following an investigation by the country’s competition authority.
Weekly News In Brief: February 12, 2016
12th Feb 2016 | Written by:
This week's payments news in brief, including Worldpay entering Canada; Western Union affiliates being fined in Australia; Italy's issues with money remitters and money laundering; BBVA giving ...
Exchange Houses In Crosshairs Of New Counter-Terrorism Push
10th Feb 2016 | Written by:
National watchdogs will face more pressure to protect their financial systems from unlicensed or poorly regulated money remitters and exchanges increasingly targeted by the Islamic State (IS).
Closing Time: Remittance Store Days Numbered As Industry Realigns
27th Jan 2016 | Written by:
Walk-in money transfer shops could disappear within ten years despite a global remittance market worth hundreds of billions growing each year, industry leaders believe.
Belize And Others Face Being Cut Off As De-Risking Crisis Deepens
26th Jan 2016 | Written by:
The Central American state of Belize could be cut off from doing business with the outside world because of the crisis caused by de-risking, the country’s Prime Minister and central bank governor...
Remitters On Edge As Caribbean Authorities Face Up To De-Risking
21st Jan 2016 | Written by:
Caribbean authorities mulling action to tackle de-risking must recognise the complexity of the problem, experts have said, as the barriers facing remittance companies in the region show no signs of...
De-Risking Remitters Is ‘Market Failure’ Regulators Must Reverse, Think Tank Claims
18th Jan 2016 | Written by:
De-risking by major banks and the devastating effects for money remittance companies represents a worldwide “market failure” which only regulatory intervention can resolve, a report has claimed.
De-Risking Blamed For Philippines Remittance Slump
7th Jan 2016 | Written by:
The Philippines’ top financial regulator has said de-risking practices by banks in major markets is partly to blame for a fall in remittance growth rates, which have dealt a blow to its $23bn fund...
Key Regulatory Trends And Industry Issues For 2016
6th Jan 2016 | Written by:
A flurry of payments-related activity from legislators has put the ball firmly in the industry’s court for 2016.
Payments Industry 2015 In Focus: Main Stories And Trends
23rd Dec 2015 | Written by:
Once seemingly dull and opaque, the payments industry has muscled itself to prominence at the front of the financial world.
De-Risking By U.S. Banks ‘Here To Stay’
18th Dec 2015 | Written by:
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.
FCA Tackles European Money Laundering Changes
14th Dec 2015 | Written by:
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...
De-Risking: FinCEN Training Tax Examiners In Bitcoin To Curb Bank Powers
18th Nov 2015 | Written by:
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...
Authorities Urged To Tackle Cross-Border De-Risking Crisis
12th Nov 2015 | Written by:
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...
TransferTo Eyes Mobile Money Gold As Banks Flee Remittance Market
12th Nov 2015 | Written by:
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...
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