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European Parliament Backs Tunisia Inclusion On AML Blacklist
8th Feb 2018 | Written by:
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 Firms ‘Caught Between Regulators And Banks’
24th Jan 2018 | Written by:
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.
Mexico AML Criticism Too Hasty, Claim Authorities
23rd Jan 2018 | Written by:
Mexican authorities have responded to a damning report examining the country’s anti-money laundering controls, claiming that remedies are already in motion.
Think Tank Seeks New Reporting Regime For UK Remittances
15th Jan 2018 | Written by:
A paper published by an influential UK think tank has recommended the introduction of European-style data reporting requirements for money services businesses (MSBs), in a bid to help combat fraud...
Payments Industry 2017 In Focus: Main Stories And Trends
22nd Dec 2017 | Written by:
The global payments industry has undergone a year characterised by conflict — between traditional financial institutions and emerging technologically savvy rivals, and between regulators,...
Venezuela State Virtual Currency ‘A Pipe Dream’, Say Experts
21st Dec 2017 | Written by:
Crisis-stricken Venezuela's bold ambitions to develop a national digital currency will do little to help bypass US financial sanctions, experts have said.
EU Blacklists ‘Could Drive Caribbean De-Risking’
19th Dec 2017 | Written by:
Caribbean officials are urging the EU to rethink its inclusion of several countries from the region on new financial crime blacklists, warning it could undo significant progress in combating de...
Firms Under Pressure As U.S. Extends North Korea Sanctions
10th Nov 2017 | Written by:
Freshly expanded sanctions against North Korea look set to drive de-risking by banks, as foreign entities now run the risk of losing access to the entire U.S. financial market.
FCA Threatens Action On Consumer De-Risking
7th Nov 2017 | Written by:
UK regulators have insisted they are prepared to take enforcement action against financial firms and their senior employees if found to be unfairly denying consumers access to products and services.
Remittance Inefficiencies ‘Lie With Regulation, Not Tech’
3rd Nov 2017 | Written by:
Regulation, rather than antiquated legacy systems, is the biggest inefficiency in cross-border payments, according to some of the world's biggest money transfer companies.
Remittances And E-Money Feel Heat Of UK Crime Review
27th Oct 2017 | Written by:
A major review of financial crime in the UK has concluded the risks associated with e-money and prepaid products, as well as cross-border remittances, have risen in the last two years.
Sandbox Success Threatened By De-Risking, Says FCA
23rd Oct 2017 | Written by:
The UK’s Financial Conduct Authority (FCA) has said it is “concerned” by reports from firms involved in its regulatory sandbox that banks are refusing to offer services to payments innovators.
In-Depth: Are Remitters Held Back By Poor Supervision?
11th Oct 2017 | Written by:
Financial crime experts have suggested that stronger oversight of the cross-border payments industry could discourage banks from terminating relationships with fund transfer businesses.
Better Data Could Combat De-Risking, Says IMF
9th Oct 2017 | Written by:
The International Monetary Fund (IMF) has called for a new monitoring framework across the correspondent banking industry, in a bid to assess the true scale of de-risking by international banks.
Israeli Regulator Tightens Controls On Overseas Banking
4th Oct 2017 | Written by:
Israeli regulators have toughened their oversight of banks’ activities abroad, prompting fears that the de-risking trend hampering payments firms across the globe could be further exacerbated.
Singapore Regulator Unconcerned By De-Risking Surge
3rd Oct 2017 | Written by:
Singapore’s top financial regulator has downplayed the threat of de-risking to its emerging payment and fintech sector, despite industry claims that the practice is on the rise.
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