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Rabobank fined £105 million following attestation
Although we have not yet seen the FCA issue a fine to an individual directly as a result of an incorrect attestation, a recent case from October 2013 demonstrated the FCA’s willingness to take action. Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank) was fined £105 million; the third-highest fine ever handed out by the FCA or is [...]
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bitcoin gets bitten
Just as bitcoin appears to be taking off with users, regulators around the world are cracking down on the digital currency. In December 2013, the People’s Bank of China (PBoC) banned financial institutions from providing bitcoin-related services and products, stating that bitcoin is a virtual good, not a currency and should not be used as [...]
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Advanced Payments – Which paths to success?
PCM in partnership with Edgar, Dunn & Co. and American Express unveil the findings of the latest Advanced Payments Survey by Victoria Conroy The annual Advanced Payments Survey, which this year has been produced by PCM in conjunction with American Express and written by consultancy Edgar, Dunn & Co. (EDC), has become one of the [...]
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Cashless volumes – The war on cash continues
New fronts in the war on cash are being opened up worldwide through a range of innovative services and payments products. Is the dream of a cashless society far-fetched? While we are unlikely to see the disappearance of cash any time soon, a slew of recent studies show that non-cash payment methods are gaining ground [...]
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ATM – The rise of ATM
How are proliferating numbers of ATMs worldwide impacting usage and volumes of cash?
A September 2013 report from Retail Banking Research (RBR) details how rising numbers of ATMs worldwide are having a direct impact on demand for cash. RBR found that the installed base of ATMs across the world is forecast to grow by 44% between 2012 and 2018, taking the number of ATMs worldwide to 3.7 million by 2018. Correspondingly, global cash withdrawal volumes are predicted to increase by 65% over the forecast period, compared to growth of 44% in the number of ATMs.
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