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.
Mexican authorities have responded to a damning report examining the country’s anti-money laundering controls, claiming that remedies are already in motion.
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...
The global payments industry has undergone a year characterised by conflict — between traditional financial institutions and emerging technologically savvy rivals, and between regulators,...
Crisis-stricken Venezuela's bold ambitions to develop a national digital currency will do little to help bypass US financial sanctions, experts have said.
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...
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.
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.
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.
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.
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.
Financial crime experts have suggested that stronger oversight of the cross-border payments industry could discourage banks from terminating relationships with fund transfer businesses.
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 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’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.