Fintech Finance

OCTOBER 28, 2024

FraudSight can significantly reduce losses for merchants by both detecting fraud with higher precision and enhancing authorization rates through decreased instances of false positive declines. Merchants are also likely to see improved detection of real fraud events as a result of the enhanced data sharing between the two organizations.

Authorization 81

Authorization Transactions Fraud Detection Issuers 81

Payments Dive

JULY 25, 2024

Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing.

Zelle 179

Zelle Scams Authorization Payments 179

Payments Dive

MARCH 10, 2022

Some consumers are charging buy now-pay later installment payments to their credit cards, and that should serve as a "warning flag" to regulators, said three economists who authored the research paper.

BNPL 190

BNPL Credit Cards Authorization Regulations 190

The Payments Association

OCTOBER 23, 2024

On 25 September 2024, the UK Financial Conduct Authority (FCA) published its long-awaited Consultation Paper (CP24/20) setting out proposed changes to the safeguarding rules applicable to electronic money institutions (EMIs) and payment institutions (PIs) (together, payments firms). What does this mean for Payments firms?

Rules 88

Rules Payments Institute Authorization Reconciliation 88

VISTA InfoSec

JULY 1, 2024

(AMD) announced that it has launched a probe of a data breach carried out by a cybercriminal group called Intelbroker that led to several private documents and information being stolen which occurred early this month.

CHIPS 250

CHIPS Cybersecurity Data Breach Breach 250

VISTA InfoSec

FEBRUARY 25, 2024

A data breach occurs when cybercriminals infiltrate your systems and access sensitive information without authorization. Minimize Access Only authorize essential system/data access for users per role responsibilities. What Is A Data Breach? Much exploitation targets known vulnerabilities with available fixes.

Data Breach 266

Data Breach Breach Multifactor Authentication Cybersecurity 266

Finextra

FEBRUARY 21, 2024

The Monetary Authority of Singapore has told the country's financial institutions to make sure they are prepared for the rising cybersecurity risks posed by quantum computing.

Cybersecurity 138

Cybersecurity Authorization Risk 138

VISTA InfoSec

OCTOBER 21, 2024

A data protection officer role is to act as a bridge between organizations, its employee, and the regulatory authorities ensuring that the handling of personal data is safe, lawful and in line with regulations like GDPR (General Data Protection Regulation). Key Responsibilities of a Data Protection Officer 1.Monitoring

CCPA 130

CCPA Privacy Laws Data Breach 130

Finextra

OCTOBER 2, 2024

The Financial Conduct Authority has fined Starling Bank £29 million for failings related to its financial sanctions screening.

AML 126

AML Authorization 126

Finextra

MARCH 7, 2024

The Hong Kong Monetary Authority (HKMA) has kicked off a new wholesale central bank digital currency (wCBDC) project to render support to the development of the tokenisation market in the territory.

CBDC 124

CBDC Digital Currency Central Bank Authorization 124

Finextra

FEBRUARY 22, 2024

Frankfurt has won the race to host the EU's new Anti-Money Laundering Authority (AMLA), beating out competition from eight other cities, including Dublin, Madrid and Paris.

Money Laundering 122

Money Laundering Authorization 122

Finextra

DECEMBER 17, 2024

Open banking data vendor Neonomics has filed a complaint with the Norwegian Competition Authority alleging anti-competitive practices in the payments market by the country's banking sector.

Authorization 105

Authorization Payments 105

Finextra

MAY 14, 2024

Deutsche Bank is the latest bank to join the Monetary Authority of Singapore's multi-year Project Guardian project to explore asset tokenisation applications.

Authorization 118

Authorization 118

Finextra

MAY 16, 2024

The Financial Conduct Authority has charged a host of so-called 'finfluencers' - including former Only Way is Essex star Lauren Goodger - for promoting an unauthorised trading scheme to their social media followers.

Authorization 119

Authorization 119

Finextra

APRIL 12, 2024

The Competition and Markets Authority (CMA) has identified key risks to fair competition in AI Foundation Models (FMs), growing concerns as AI rapidly develops in the financial industry.

AI 116

AI Authorization Risk 116

Finextra

APRIL 23, 2024

Ahead of the anti-greenwashing rule coming into force on 31 May, the Financial Conduct Authority (FCA) is supporting industry with guidance to help them meet the standard.

Rules 111

Rules Authorization 111

Fintech News

DECEMBER 4, 2024

The Monetary Authority of Singapore ( MAS ) and the Association of Banks in Singapore ( ABS ) announced that two new electronic payment solutions will be launched in mid-2025.

Payment Solutions 104

Payment Solutions Payee Payer Payments 104

VISTA InfoSec

JUNE 7, 2024

Zero trust, as its name implies, is a digital security framework that emphasizes the need for strong, frequent authorization and authentication of all devices and users on a network. Here, we dive deeper into what ZTNA solutions are and how they stand to benefit companies that implement them. What Is Zero Trust Network Access (ZTNA)?

Micro-Entry 162

Micro-Entry Data Breach Breach Cybersecurity 162

VISTA InfoSec

MARCH 28, 2024

Access Control Implement strict access controls to ensure only authorized personnel can access customer data. More importantly, regularly update your software to patch security vulnerabilities and conduct periodic security audits to identify and rectify potential weaknesses in your system.

Data Breach 277

Data Breach Regulatory Compliance Breach Encryption 277

Fintech News

OCTOBER 6, 2024

In addition, the report recommends deepening the collaboration between banks and authorities through platforms like COSMIC —a digital system enabling financial institutions to share customer risk information securely. The IMC’s recommendations aim to adapt Singapore’s AML framework to counter increasingly sophisticated criminal methods.

Money Laundering 101

Money Laundering Law Enforcement Financial Crimes Due Diligence 101

Fintech News

OCTOBER 14, 2024

The Singapore Police Force (SPF) and the Monetary Authority of Singapore (MAS) have issued a joint warning about a sharp increase in government impersonation scams. Many victims only realize they have been scammed when the scammers disappear or when they attempt to verify the situation with authorities. million in September 2024 alone.

Scams 98

Scams Money Laundering Authorization Blocks 98

Fintech News

OCTOBER 27, 2024

The Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA) will implement the Shared Responsibility Framework (SRF) for phishing scams on 16 December 2024. FIs have a six-month transition period to comply with this new duty before it becomes enforceable under the SRF.

Phishing 105

Phishing Scams Blocks Authorization 105

VISTA InfoSec

MARCH 5, 2024

We will explore these changes in detail, helping you understand the processes and mechanisms for restricting physical access to cardholder data, how physical access controls manage entry into facilities and systems containing cardholder data, and how physical access for personnel and visitors is authorized and managed. PCI DSS v4.0

PCI DSS 147

PCI DSS Procedures Assessments Checks 147

Finextra

DECEMBER 16, 2024

The UK's Financial Conduct Authority has set out its latest steps to improve the integrity of the UK's crypto market.

Regulations 83

Regulations Authorization 83

VISTA InfoSec

JULY 17, 2024

Establish protocols for communicating with external parties, such as law enforcement, in multiple languages: Knowing how to quickly share info with authorities in various countries can speed up response times. Conduct drills and simulations in different languages : Practice helps your team work smoothly under pressure.

Cybersecurity 231

Cybersecurity Compliance Encryption Best Practices 231

Bank Automation

DECEMBER 17, 2024

Klarna, the Swedish fintech that provides buy now, pay later services, was fined 500 million Swedish Kronor ($46 million) by Swedens Financial Supervisory Authority for violating anti-money laundering rules. The regulator in a Dec.

Regulations 98

Regulations Money Laundering Crime Assessments 98

Fintech News

SEPTEMBER 11, 2024

In August 2023, the Monetary Authority of Singapore (MAS) finalised its stablecoin regulatory framework , providing clear guidelines for issuers. In contrast, stablecoins pegged to the U.S. dollar, such as USDT, are primarily transferred in larger amounts, reflecting more institutional use.

Stablecoins 116

Stablecoins Issuers Cryptocurrency Payments 116

PCI Security Standards

JULY 29, 2024

He is also the author of 13 books, an Inc.com columnist, the past executive director of the Babson College Center for Business Innovation, the past director of the Dell Innovation Lab, and a professor at Boston University. magazine, and the founding partner of AcroVantage Ventures, which invests in early-stage technology startups.

Authorization 111

Authorization Innovation Security Technology 111

The Fintech Times

JUNE 16, 2024

The post Bank of Canada and BIS Collaborate on New Toronto Innovation Centre appeared first on The Fintech Times.

Innovation 105

Innovation Central Bank Digital Currency Authorization 105

NFCW

JULY 17, 2024

“Riders with weekly or monthly passes or those who would like to continue to use their CharlieCards will not be impacted by the change. The current ways to pay will remain the same,” the MBTA says.

Contactless Payments 106

Contactless Payments Payments Authorization Credit Cards 106

Fintech News

APRIL 10, 2024

The Monetary Authority of Singapore (MAS) and Mastercard have signed a Memorandum of Understanding (MoU) to bolster cybersecurity within the financial services sector.

Cybersecurity 111

Cybersecurity Visa Mitigation Authorization 111

Fintech News

NOVEMBER 11, 2024

The Deutsche Bundesbank has become a member of Project Guardian , a global initiative led by the Monetary Authority of Singapore (MAS) that explores the use of asset tokenisation in financial markets.

Central Bank 99

Central Bank Distributed Ledger Technology (DLT) Interoperability Cross-Border 99

Fintech News

OCTOBER 28, 2024

Project Mandala was carried out in collaboration with the Reserve Bank of Australia, the Bank of Korea, Bank Negara Malaysia, and the Monetary Authority of Singapore.

Cross-Border 102

Cross-Border Compliance Cross-Border Payments Automation 102

Finextra

SEPTEMBER 30, 2024

The UK's two main financial regulators, the Bank of England (BoE) and the Financial Conduct Authority (FCA), have announced the opening of its Digital Securities Sandbox (DSS).

Security 87

Security Authorization Regulations 87

Fintech News

NOVEMBER 17, 2024

This was organised under the Financial Sector Cloud Resilience Forum, established by the Monetary Authority of Singapore (MAS) in April 2023.

Risk 86

Risk Best Practices APACS Authorization 86

Segpay

DECEMBER 9, 2024

Without the right protections, these attacks can lead to expensive authorization fees and even the shutdown of your merchant account. Over 4 million authorization attempts flooded their system, with neither the merchant nor the gateway having tools in place to stop it. Their goal? But heres the good news: You can take control.

Shutdown 77

Shutdown Gateways Fraud Prevention Authorization 77