The UK financial regulator’s approach to supervising non-bank payment service providers has come under scrutiny following its finding that some were not properly safeguarding client funds.
After finding “significant shortcomings” in firms’ compliance with rules on safeguarding customer funds, UK regulators have instructed payment and e-money firms to carry out an urgent review of...
Denmark’s regulator has acknowledged concerns from the European Banking Authority about industry readiness for forthcoming strong authentication reforms, tentatively opening its doors to firms...
A surprise statement from the Polish regulator has left banks and payment firms facing difficult decisions around whether or not to provide a “fallback” interface for third-party account access.
New Payments Platform (NPP) Australia has released a white paper on the next generation of real-time payments. The paper explores the key trends, opportunities and challenges of the global real...
The European Banking Authority has provided welcome clarity on how to interpret incoming strong authentication rules, but still faces questions over how some aspects will work in practice —...
The UK’s Payment Systems Regulator has suggested that the upper limit for the country’s real-time interbank fund transfer system could be raised to £20m, although experts are warning of the fraud...
On July 1, 2019, the Dutch Ministry of Finance and the Ministry of Justice and Security presented an action plan on money laundering. The government proposes to amend the Money Laundering and...
The UK’s Financial Conduct Authority (FCA) has become the first national regulator to formally acknowledge EU plans for extending the implementation period for new strong authentication rules,...
European regulators have handed a major lifeline to card firms and retailers by giving them more time to comply with incoming security reforms, but experts say more work will be needed at national...
On June 20, 2019, the Standing Committee on Public Safety and National Security in the House of Commons released a report on cybersecurity in the financial sector as a national security issue. ...
The European Banking Authority has agreed to give payment providers more time to prepare for September’s controversial strong authentication reforms, after pleas for flexibility from across the...
Canadian officials are calling for an open banking infrastructure that will enable consumers to share their financial data securely with third parties, urging that such a system is up and running...
On June 19, 2019, the Euro Banking Association (ABE-EBA), a practitioners’ body for banks and other service providers supporting a pan-European vision for payments through its initiative SMART2,...
Fintechs across Europe have joined calls for a delay to September’s strong authentication reforms, urging authorities to show leniency to firms providing third-party payment services, as well as...
On June 17, 2019, the Malta Financial Services Authority (MFSA) issued its finalised guidance notes on cybersecurity, setting out the minimum set of best practices and risk management procedures to...

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