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European Banks seek clarification on e-money definition and fraud reporting
Banks from across nine EU countries have endorsed a note seeking clarification on the definition of e-money transactions and the related fraud reporting requirements issued by the European Banking Authority... more
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Equifax data breach settlement set at $1.38 billion
Equifax’s failure to patch a known web application security flaw—that later proved to be the root cause of the its massive data breach in 2017—is $1.38 billion. Equifax has agreed... more
The post Equifax data breach settlement set at $1.38 billion appeared first on Payments Cards & Mobile.
Global smart card market expected to reach $65 billion by 2025
The global smart card market is expected to exceed $65 billion by 2025. The rise in privacy and data security concerns in financial transactions will drive the industry growth over... more
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$8.14 billion of AML fines handed out in 2019 – USA and UK top the list
Since 2015, annual AML (Anti Money Laundering) penalty figures have been steadily rising each year. Multi-million dollar fines have been commonplace for a while, but we are now seeing more... more
The post $8.14 billion of AML fines handed out in 2019 – USA and UK top the list appeared first on Payments Cards & Mobile.
New Fifth Money Laundering Directive rules come into force
Firms need to take action now as new Fifth Money Laundering Directive rules aimed at tackling money-laundering came into force today (Friday 10 January). These place increased importance on the... more
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