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Western Union settles $60 million AML probe
Western Union is to pay $60 million AML fine to resolve allegations that it failed for more than a decade to maintain a program to deter and report transactions involving suspected criminal fraud and money laundering. The settlement with the New York Department of Financial Services (DFS) follows the money-transfer company’s agreement in January 2017 [...]
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Meltdown & Spectre: Security experts issue warnings on chip flaw
Security experts are warning companies that the only way to fully protect themselves against hackers taking advantage of a newly revealed, pervasive flaw in chip design dubbed the Meltdown and Spectre bugs, that could allow hackers to steal data, is to completely replace their computer systems. The unusual warning has presented companies with an unenviable choice [...]
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MiFID II: the new financial regulatory system
London and the EU are bracing themselves for MiFID II, the new dawning of one of the biggest regulatory shake-ups of since the 1980s ‘Big Bang’ as a new framework of rules, as it comes into force across Europe. The financial sector across the European Union has been preparing for months ahead of the new regulations coming [...]
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Under GDPR, never collect data without consent
To be a successful business in Europe in 2018, you will need to be able to demonstrate GDPR compliance. Numerous articles have already detailed what GDPR is, the ramifications of failing to comply with it, and many of the steps towards compliance. If there is one thing you know for certain, it is that there [...]
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Payments Buzzwords 2018: Authentication, Identity and Chinese BigTech
Authentication tipping point – will PSD2 change we way we pay? Talking about 2018 is hardly possible without mentioning PSD2. So here it is, on top of my list. On January 13 PSD2 will go live. However, some aspects of the new regulation will not be enforced until around 18 months later, when the Regulatory [...]
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