Suggestions that some institutions might opt not to build a fallback access interface for third-party providers — a controversial feature of incoming EU security rules — have given rise to...
Last-gasp changes to EU security rules have left account providers with a dilemma: whether to channel resources into building a top quality application programming interface (API); or split...
Two major UK regulators have instructed firms preparing for open banking to make consumer consent their top priority — particularly once EU-wide data protection reforms take effect next month.
A Brussels-based industry group is "making headway" on efforts to provide clarity to banks, third-party providers and regulators on the standards that application programming interfaces (API) will...
Influential industry figures in the UK have raised the alarm over the possibility of open banking innovations making it easier for fraudsters to gain access to victims’ payment accounts.
One of the UK’s largest banks has criticised regulatory reforms designed to protect victims of bank transfer fraud, arguing the new requirements go beyond the technological capacity of existing...
Payment cards remain the largest single target for cyberattackers worldwide, new research shows, although attempted fraud against website operators and technology suppliers is growing fast.
French legislators are under pressure to broaden national implementation of the revised Payment Services Directive (PSD2), so that third-party access to non-payment accounts is brought under...
Payment firms are confused by incoming EU rules on contactless payments, despite 11th-hour attempts by the European Commission to clarify when strong authentication must be applied.
A European Commission official has taken issue with proposals to subject firms to fraud notification rules reminiscent of data breach reporting requirements, part of incoming reforms around non...
Mastercard is hopeful that recurring card transactions will be exempt from strong authentication requirements under incoming EU reforms, but said further guidance on the issue would be helpful.
European officials have downplayed industry fears that authenticating users of third-party providers via a "redirect" model could be outlawed by incoming security rules.
U.S. federal prosecutors have taken action against an international money transfer company incorporated in the UK, accusing its owners of operating without a license while knowingly processing...
The UK’s Payment Systems Regulator (PSR) has made it clear that it expects the banking and payments industry to lead on best practice as the authority seeks to combat growing levels of fraud.
Industry experts in the Netherlands have said impending legislative and technical reforms could pose fresh challenges to the country’s world-leading approach to payment fraud.
On September 13, 2017 the European Parliament and the European Council introduced a proposal for a directive on combating fraud and counterfeiting of non-cash means of payment and replacing...

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