cyber attack, Cyber Security, Daily News, FCA, Fraud & Security, Issuing & Acquiring, Regulation, Risk & Compliance, Tesco Bank -

The UK’s financial regulator (FCA) has issued Tesco bank with a £16.4 million penalty over an online cyber incident that occurred two years ago, the first fine the FCA has... more

The post FCA bares teeth – Tesco Bank fined £16.4m over “avoidable” cyber attack appeared first on Payments Cards & Mobile.

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Daily news, FCA, Financial Conduct Authority (FCA), Issuing & Acquiring, Regulation -

On 1 August 2018, the Financial Conduct Authority (“FCA”) published Consultation Paper 18/21 on ‘General Standards and Communication Rules for the Payment Services and E-Money Sectors’. The consultation closes on... more

The post The FCA: Level playing field or more enforcement? appeared first on Payments Cards & Mobile.

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Blockchain, crypto assets, cryptocurrencies, Cryptocurrency, Daily News, Distributed Ledger Technology, DLT, FCA, Issuing & Acquiring, Regulation, Risk & Compliance -

UK regulators are starting to give cryptocurrencies and associated crypto assets their seal of approval. This is significant, not least because it goes against the prevailing wisdom among policymakers around the world... more

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Competition and Markets Authority, Daily News, Data Protection, data protection rules, FCA, Financial Conduct Authority, GDPR, Issuing & Acquiring, Open Banking, PSD2, Regulation -

Atom bank, the UK’s first app-based bank, is reported to be delaying the launch of consumer current accounts until at least 2018. Atoms CEO blames forthcoming regulations that make the UK’s personal banking market too “ambiguous and uncertain”. The digital-only lender, which has amassed close to £500m in loans and almost the same amount of deposits since its launch in [...]

The post Atom bank cites regulatory uncertainty – postpones current account launch appeared first on Payments Cards & Mobile.

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Daily News, FCA, Issuing & Acquiring, Regulation, UK Financial Conduct Authority -

The FCA says that UK financial institutions have recorded nearly 3m complaints over their products or services in the last six months of 2016. The figures, published on Wednesday, provide a snapshot of continued customer ire, even as British banks are trying to draw a line under costly mis-selling scandals. The spike in the number of complaints [...]

The post Complaints to FCA against UK finance groups hits 5-year high appeared first on Payments Cards & Mobile.

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