South Korean retailers are finalising preparations for a shift to chip cards only, once a three-year implementation period finally comes to an end in July.
On February 15, 2018, the Financial Crimes Enforcement Network (FinCEN), together with the Office of the Controller of Currency and the U.S. Department of Justice, imposed a civil money penalty of ...
Consumers will be empowered by the changes recommended in a wide-reaching report into open banking in Australia, says a former competition regulator, but payment initiation services have been left...
A European Central Bank (ECB) official has called on payments firms to speed up implementation of security rules that accompany the revised Payment Services Directive (PSD2) to unlock the...
On February 6, 2018, the Department of Financial Policy at the Ministry of Finance published a draft law on the detection and prevention of money laundering and terrorism financing, incorporating...
Singapore has proposed sweeping reforms to security rules for electronic payment transactions as part of its ongoing efforts to boost adoption of digital payments.
Banks and fintechs remain at odds over whether consumers will be able to share their online banking login credentials with third parties under incoming EU-wide security standards.
On February 6, 2018, the Australian Transaction Reports and Analysis Centre (AUSTRAC) issued guidance aimed at assisting reporting entities in their attempt to understand and meet their beneficial...
On February 7, 2018, the Malta Financial Intelligence Analysis Unit (FIAU) issued a guidance paper regarding red flags and suspicious activities that should be considered as indicative factors of...
On February 6, 2018, the European Union Agency for Network and Information Security (ENISA) published a report on cybersecurity culture (CSC) in organisations, which promotes the importance of both...
The UK’s top financial crime regulator has drawn renewed attention to the issue of authorised push payment fraud, calling on executives to pay greater heed to the dangers.
EU officials are optimistic that a new cross-industry working group will be able to overcome serious concerns about the viability of third-party account access rules.
The head of the European Banking Authority (EBA) has written to EU lawmakers with concerns about the final text of security rules under the revised Payment Services Directive (PSD2).
On January 24, 2018, the National Bank of Belgium (NBB) released a circular (NBB_2018_02) regarding the overall assessment of money laundering and terrorist financing (ML/TF) risks. The circular...
Finland’s financial regulator has clarified that screen scraping will remain prohibited in the country in a move that could delay third-party services from entering the local market, despite...
The UK Payment Systems Regulator has responded to criticism from parliamentarians that it failed to take swift action on authorised payment fraud or introduce a reimbursement scheme for victims.

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