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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...
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...
Firms warned over rise of ‘ransomware gangs’ after Travelex attack
The cyber attack on foreign exchange provider Travelex demonstrates the growing threat of ransomware and is a warning that financial...
Banks to ban FinTechs from using customer passwords by issuing tokens instead
JPMorgan has become the first major bank to crack down on FinTech apps using customer passwords to access their bank...
Data privacy issues stall Australian Open Banking roll out
In a sensible setback, the Australian Competition & Consumer Commission (ACCC) has delayed the roll out of Open Banking reforms...
Travelex being held to $3 million ransom by cyber criminals
On Thursday the 2nd January the Travelex sites went down after the foreign currency service discovered it had been hit...
Fighting fraud in the 2020s
Payment fraud prevention is an increasingly complicated and constantly evolving business. Issuers and merchants everywhere are being challenged by a...
Authorised Push Payment Fraud (APP Fraud): The perfect storm
The Digital Revolution is changing our lives every day, but human nature does not change, and with every technological advance,...