Digital banks, money transfer operators and cryptocurrency firms in the UK are being exploited by complex networks of fraudsters and money mules, according to pioneering research by the banking and...
On August 2, 2019, the Treasury Select Committee released the 35th report of session 2017-19 titled “The work of the Financial Conduct Authority: the perimeter of regulation”, which contains...
The Financial Conduct Authority (FCA) has not ruled out altering its 18-month enforcement delay of new security rules for online card payments, but says its focus is making sure that its position...
Europol has highlighted the dangers posed by the stuttering introduction of strong authentication and open banking reforms, flagging indecision over delays as a gap to be exploited by fraudsters.
On October 8, 2019, the European Council adopted new rules on whistle-blower protection (Directive 2018/0106 on the protection of persons who report breaches of union law). The new rules establish...
An entity marketing itself as a payment processor is at the center of a lawsuit accusing a cryptocurrency exchange and stablecoin issuer of market manipulation, resulting in damages claims of $1...
The body in charge of the UK’s real-time interbank payment system is being pressured to introduce a fee on all transactions to fund reimbursement of fraud victims, with the current bank-funded pot...
A survey by the Dutch central bank has revealed deep unwillingness of consumers in the Netherlands to grant third parties access to their account data, another thorn in the side of the country’s...
A director of the UK’s cyber-crime defence unit has told financial firms that state-sponsored hackers in North Korea are targeting banks and payment systems as a means of raising funds for the...
New fraud figures from UK Finance have shown that losses from authorised push payment (APP) scams continue to rise, although the trade body emphasised that the effects of the newly-adopted...
On May 27, 2019, the European Payments Council (EPC) published two documents: a clarification paper on SEPA Credit Transfer (SCT) and SEPA Instant Credit Transfer (SCT Inst) Rulebooks (Version 1.4)...
On September 23, 2019, the French Prudential Supervision and Resolution Authority (ACPR) released a report from a working group called “Forum Fintech ACPR-AMF”, made up of representatives of...
Europe’s banking lobby has called on the European Banking Authority to put in place a harmonised non-enforcement period of 18 months for new authentication rules for online card payments.
Fintech firms that aggregate customers’ account data are complaining that banks’ preparations for new EU-level security rules are “damaging” their businesses.
The UK’s Financial Conduct Authority (FCA) has urged issuers and acquirers to avoid changing how contactless transactions are handled for a limited period, despite new strong authentication rules...
European retailers, acquirers and issuers are braced for chaos. This Saturday, highly controversial payment security rules go live across the EU, and although almost all member states have agreed...

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