The organisation that manages Norway’s financial infrastructure has admitted it miscalculated last year’s figures on payment card fraud, and that the true numbers are far higher than initially...
UK officials have revealed that fraudsters are cracking card issuers’ two-factor authentication checks by intercepting SMS messages to impersonate account holders.
Authorities in the UK and France are facing pressure to revise their planned delays to enforcing strong authentication rules for online card payments, after EU regulators settled on a shorter 15...
Italy’s new-look government has tabled a series of measures designed to encourage uptake of non-cash payments, pressure retailers into accepting cards and make it harder for individuals to evade tax.
The European Banking Authority (EBA) has agreed to let national regulators delay enforcement of strong authentication rules until December 31 next year, setting a strict 15-month migration plan for...
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)...

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