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Fraud & security
Don’t Leave Fintech Unchecked, Regulators Told
28th Jun 2017 | Written by:
The world’s top market stability watchdog has warned national regulators to keep a close eye on emerging financial technologies, although it dismissed fears of any immediate risk.
Europol Strikes €5m Payment Fraud Network
22nd Jun 2017 | Written by:
EU law enforcers have commended the payments industry for its role in an operation that tracked down criminal networks suspected of being responsible for 20,000 fraudulent credit card transactions.
Weekly News In Brief: June 16, 2017
16th Jun 2017 | Written by:
The United States is diverging on Bitcoin regulation; the EBA outlines its fintech ambitions in its annual report; Europol carries out another raid on a card fraud gang; Singapore looks to...
FCA Urged To Upgrade Register Or Risk Third-Party Fraud ‘Disaster’
15th Jun 2017 | Written by:
Industry groups have warned UK regulators there will be no way of knowing whether third-party fintechs are authorised providers or fraudsters once the revised Payment Services Directive (PSD2)...
UK: Mastercard and University of Oxford Explore Mobile Biometrics in Financial Services
13th Jun 2017 | Written by:
Mastercard and the Department of Computer Science at the University of Oxford have published a paper on developing mobile biometrics in financial services, creating guidelines that aim to help...
Industry Must Entice Consumers To Open Banking, Say Regulators
12th Jun 2017 | Written by:
UK regulators have urged the financial sector to educate and engage with consumers about the potential benefits of open banking, or risk allowing new third-party services to fall through the...
Weekly News In Brief: June 9, 2017
9th Jun 2017 | Written by:
The Bank of Israel attempts to tighten security of the country's payment card market; Dodd-Frank Act reforms pass the U.S. House of Representatives; the FSB examines fintech, virtual currencies...
Tough But Fair: EBA Stands By Strong Authentication Laws
9th Jun 2017 | Written by:
A European official has admitted that exemptions to security requirements that will form part of the revised Payment Services Directive (PSD2) may be too challenging in practice for payments firms.
Remittance Giants Speak Out On De-Risking
7th Jun 2017 | Written by:
Banks that refuse to do business with the cross-border remittance sector are opening themselves up to greater risk, according to the head of one of the world’s top money transfer firms.
Bolivia: Government Intervention to Prevent Growth of Virtual Currencies
31st May 2017 | Written by:
The Supervisory Authority of the Financial System (ASFI) has published a formal communication reminding the population that the use and circulation of virtual currencies are prohibited in Bolivia....
Hong Kong: Fraud and Money Laundering Intelligence Taskforce Pilot Project Launched
30th May 2017 | Written by:
On May 26, 2017, police in collaboration with the Hong Kong Monetary Authority (HKMA), the Hong Kong Association of Banks and a number of banks launched a 12-month pilot project, the Fraud and...
UK Plans To Scrap Independent Fraud Agency Met With Dismay
19th May 2017 | Written by:
Legal experts are dismayed over “bizarre” Conservative manifesto plans to end the independence of the Serious Fraud Office, warning it could severely hamper efforts to fight financial crime and...
Consumer Group Revives Campaign For Payment Fraud Reforms
17th May 2017 | Written by:
Consumer rights group Which? has revived its campaign for UK regulators to impose new controls around push payment fraud.
UK: PSR Call for Input on Role of Operators in Authorised Push Payment Scams
16th May 2017 | Written by:
The Payment Systems Regulator (PSR) has issued this call for input to gather views from payment service providers (PSPs) to help inform the authority's work on authorised push payment scams....
Weekly News In Brief: May 12, 2017
12th May 2017 | Written by:
The European Parliament has circulated a briefing on blockchain; Israel's central bank takes a further step to opening its card market to competition; the UK's Financial Conduct Authority issues...
Germany: BaFin Issues 'OneCoin' Cease And Desist Orders
2nd May 2017 | Written by:
On April 27, 2017, the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) issued cease and desist orders against Onecoin Ltd, Dubai, and...
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