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...
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.
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 ...
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).
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.
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...
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 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.
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...
A flurry of payments-related activity from legislators has put the ball firmly in the industry’s court for 2016.
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...

Pages