The UK regulator of money services businesses has told the sector to expect financial penalties for non-compliance with money laundering requirements, after identifying cases where millions of...
Concerns over de-risking in the Islamic banking sector have been linked to regulatory pressure on transactions involving high-risk regions, after an industry group appealed to the Financial...
Latvian authorities, spooked by a recent high-profile failure, have launched a belated assault on the dirty money coursing through the veins of the Baltic nation’s financial system — prompting...
UK authorities will introduce machine-readable rules for financial services firms before the end of the year, according to a new fintech strategy published by the government on Thursday.
Two global financial watchdogs have called on national regulators to strengthen oversight of the remittance sector, warning that a "complete absence" of supervision in many regions is driving banks...
On March 16, 2018 the Financial Action Task Force (FATF) published a report to the G20 finance ministers and central bank governors, which sets out FATF's recent and ongoing work to combat money...
Regulators in several Asia-Pacific countries are "waking up" to demands from local remittance companies for modernised licensing and know your customer (KYC) requirements, industry insiders believe.
Spain's attempts to lure UK payments institutions concerned over the potential loss of passporting rights are being hampered by slow adoption of EU regulatory requirements in the country.
Influential global standards-setters have rallied behind efforts by a group of international banks to combat de-risking in the correspondent banking sector and breathe life back into stunted...
The governor of the Bank of England has said “the time has come” to subject virtual currency businesses to the same tough standards faced by the regulated financial services sector.
Malta is looking to address difficulties faced by payment and e-money institutions in gaining access to national fund transfer infrastructure after a growing number of firms have had their...
The U.S. Government Accountability Office (GAO), an independent, nonpartisan agency that provides investigative and evaluation services for Congress, has published a report called “Derisking along...
The influential Bank for International Settlements (BIS) has called for greater cooperation among regulators and supervisors in response to increasingly sophisticated payments technology.
U.S. banks are shutting accounts of payment companies as a competitive tactic, not only for compliance concerns, industry representatives have complained.
The European Parliament has voted to include Tunisia on a blacklist of countries at high risk of money laundering, despite vocal opposition from concerned parties.
Virtual currency businesses are growing increasingly frustrated by having to forge a path between uncertain regulators and an unreceptive banking community, industry insiders have said.

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