Fraud & Security RSS

Daily news, E-Money, EBA, European Banking Authority (EBA), Fraud & Security, fraud reporting, Regulation -

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

The post European Banks seek clarification on e-money definition and fraud reporting appeared first on Payments Cards & Mobile.

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Cyber Security, Cybercriminals, Daily news, data breach, Equifax, Fraud & Security, Risk & Compliance -

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.

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Contactless, Daily news, EMV, Fraud & Security, Global smart card market, Identity, Issuing & Acquiring, Mobile payments, POS Terminals, Regulation, smart card, smart card market -

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

The post Global smart card market expected to reach $65 billion by 2025 appeared first on Payments Cards & Mobile.

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AML (Anti Money Laundering), AML fines, Cyber Security, Daily news, Fraud & Security, Processing & Systems, Regulation, Risk & Compliance -

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.

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5AMLD, Daily news, Fifth Money Laundering Directive, Fraud & Security, Regulation, Risk & Compliance -

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

The post New Fifth Money Laundering Directive rules come into force appeared first on Payments Cards & Mobile.

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