A paper from a think tank has suggested that it is uneven and inconsistent application of EU rules by member states, rather than the stricter requirements, that have created the most significant...
UK regulators have hit back at claims their supervision of money services businesses (MSBs) is not up to scratch, after banks suggested poor oversight is one reason why de-risking is so prevalent...
U.S. federal authorities have issued a $100m fine to Capital One, after the financial giant failed to correct “systemic deficiencies” in its anti-money laundering (AML) program for correspondent...
A U.S. Treasury official has said legal reforms aimed at helping money transfer firms affected by de-risking are highly unlikely, despite legislative efforts in Europe to tackle the issue.
The UK's Financial Conduct Authority is lacking data on whether it needs to do more to help payment providers still struggling to obtain or maintain access to a bank account, a senior official has...
On October 11, 2018, the Financial Supervisory Commission made available to the public the outcome of the 36th Committee Resolution, as well as an action plan, to establish key priorities to be...
UK regulators have downplayed the impact of de-risking on money services businesses (MSBs), pointing out there has been little decrease in the number of such firms despite ongoing concerns about...
Australian regulators have launched a wide-ranging inquiry into currency exchange practices within the banking, cards and remittance sectors, in response to concerns over transparency, pricing and...
German and French authorities are planning to build a separate payments channel for companies who want to keep their funds safe from the long arm of US sanctions, but their ambitions for financial...
A UK-based consultancy specialising in financial crime has warned that many e-money firms “have areas for improvement” in how they approach anti-money laundering requirements.
Switzerland’s financial regulator has opened enforcement proceedings against the issuer of an initial coin offering (ICO) for the first time in its history, after suspicions the company was...
Experts have called for more transparency around the reasons for declined payments to reduce the compliance friction driving de-risking of both smaller banks and new fintech companies.
On June 26, 2018 the U.S. Government Accountability Office (GAO), an independent, nonpartisan agency that provides investigative and evaluation services for Congress, published a report titled ...
The pressures facing global remittance heavyweights have never been higher, with a shifting regulatory landscape, a transition away from cash and the ever-present threat of blanket de-risking by...
Despite a raft of urgent EU regulatory reforms aimed at tackling terrorist financing, officials remain concerned about a lack of visible progress at member state level — with cash, prepaid cards...
Federal U.S. regulators have sought to assuage concerns that new due diligence rules for financial institutions could prove overly onerous and result in de-risking of customers.

Pages