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Wells Fargo smashed by regulator over secret accounts – record fine
Wells Fargo has been taken to task by the US consumer finance watchdog’s largest ever fine after the regulator found...
Fourth Anti-Money Laundering Directive and revised Wire Transfer Regulation
On the 25 June 2015, a new package of EU Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) legislation came into...
FI’s unaware of customer account access obligations under PSD2
Only 5% of banks and other financial institutions are aware that the EU Payment Services Directive (PSD2) will require open...
Whose regulation is it anyway and why it is so important
Sometime it is difficult enough for the industry to keep up with new technology threats and opportunities domestically, let alone regionally...
EBA response to Commission’s proposal on virtual currency and AML directive
In an Opinion issued yesterday, the EBA welcomed the Commission’s proposal to bring virtual currency exchange platforms and custodian wallet...
Impact of emerging regulations on the mobile payments industry
Sometimes it is difficult enough for the mobile payments industry to keep up with new technology threats and opportunities domestically, let...
MasterCard hit with £68.6 million interchange fee fine
MasterCard has been hit with a £68.6 million fine to be paid to Sainsbury’s after losing a Competition Appeal Tribunal over...
EC crack down on virtual currencies and prepaid cards
In an ill advised move, the European Commission is proposing expanding its anti-money-laundering rules to cover virtual currencies and prepaid cards,...