VISTA InfoSec

MARCH 28, 2024

Hence, understanding GDPR compliance and other data protection laws is essential in keeping you abreast of regulatory trends. Access Control Implement strict access controls to ensure only authorized personnel can access customer data.

Data Breach 277

Data Breach Regulatory Compliance Breach Encryption 277

Neopay

APRIL 22, 2024

The UK’s company law landscape underwent significant changes with the enactment of the Economic Crime and Corporate Transparency Act, effective from 4th March 2024. The post Changes to UK company law appeared first on Neopay. Here is a summary of what you need to know about the new measures.

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Laws Crime Due Diligence Law Enforcement 52

Fintech News

OCTOBER 6, 2024

It will allow law enforcement, sector supervisors, and government bodies to seamlessly screen databases and assess entities of concern for potential risks. On effective enforcement, the IMC proposes strengthening the legislative tools available to law enforcement agencies.

Money Laundering 105

Money Laundering Law Enforcement Financial Crimes Due Diligence 105

The Paypers

APRIL 18, 2024

Authorities in Norway have revealed their intention to introduce a new data centre law aimed at regulating operations within these facilities.

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Laws Cryptocurrency Authorization Regulations 45

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?

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Rules Payments Institute Authorization Reconciliation 88

PYMNTS

MARCH 2, 2020

The bill mandates that tech firms get authorization from New Jersey consumers before collecting and selling information to third parties. New Jersey joins Washington, Illinois and other states and regions in introducing data privacy laws. The legislation would affect tech companies such as Alphabet ’s Google and Facebook.

Privacy 99

Privacy Regulations Laws Agreements 99

PYMNTS

JUNE 25, 2020

The unit will help law enforcement as well, bringing criminal charges when needed, the press release says. We are working hard to disrupt and dismantle these criminal networks, and we applaud the law enforcement authorities who are already part of this fight.

Crime 97

Crime Law Enforcement Laws Authorization 97

Fintech News

FEBRUARY 25, 2024

A major investigation is underway in Singapore involving the police and the Monetary Authority of Singapore (MAS) against two key figures of Samlit Moneychanger, a licensed payment services provider. Violations of these laws carry severe penalties, including fines and imprisonment.

Authorization 88

Authorization Laws Business Day Compliance 88

VISTA InfoSec

AUGUST 22, 2023

In 2019, a Swedish local authority was fined over $20,000 for using facial recognition software to monitor high school students’ attendance. The system was designed to identify individuals with criminal records or restraining orders, but it also collected images of all customers, including children and employees, without lawful consent.

Privacy 130

Privacy Compliance Legal Best Practices 130

VISTA InfoSec

SEPTEMBER 15, 2023

Clause 9(1), DPDP Act) If consent is retracted, the data fiduciary must stop the data processor from processing that individual’s data, unless otherwise authorized. For data processed for any function under any law or judgment issued under law. For minors , consent must be procured from the parent or legal guardian.

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Data Breach Breach Governance Government 130

VISTA InfoSec

SEPTEMBER 28, 2023

Now, this individual could be anyone, but there are a couple of special cases to consider: If the individual is a child, then the ‘Data Principal’ also includes the child’s parents or their lawful guardian. If the individual has a disability, then the ‘Data Principal’ includes their lawful guardian who is acting on their behalf.

Laws 130

Laws Privacy Authentication Authorization 130

PYMNTS

DECEMBER 18, 2020

The rule, which applies to financial institutions and is consistent with existing requirements, is intended to protect national security, assist law enforcement and increase transparency while minimizing the impact on responsible innovation.".

Treasury 141

Treasury Rules Bitcoin Ransomware 141

The Fintech Times

JANUARY 6, 2024

EU law currently requires the ECB to carry out stress tests on supervised banks at least once per year. Continuing stress tests Last year, 57 of the euro area’s largest banks were part of an EU-wide stress test coordinated by the European Banking Authority (EBA) – which published results for the individual banks in July 2023.

Central Bank 141

Central Bank Assessments Procedures Laws 141

Global Fintech & Digital Assets

OCTOBER 31, 2023

Licensees, exchanges, and other market participants should prepare to comply with the listing, disclosure, capital, and other requirements that the new law imposes. By Jenny Cieplak , Nima Mohebbi , Parag Patel , Stephen P. The DFPI may also impose fines of up to $20,000 for each day of violation.

Laws 52

Laws Stablecoins Issuers Legal 52

Open Banking Excellence

MAY 2, 2024

Authors: Vasil Shengelia, Head of Open Banking Division at the National Bank of Georgia, alongside Varlam Ebanoidze, Head of the Fintech and Suptech Development Department About National Bank of Georgia The National Bank of Georgia (NBG) is the central bank of Georgia. The potential economic impact inherent in fintech is massive.

Interoperability 147

Interoperability Payment APIs and Integration Central Bank Cross-Border 147

PYMNTS

SEPTEMBER 22, 2020

21) clarified the authority for national banks and federal savings associations to hold reserves on behalf of customers who issue stablecoins. The regulator of the nation’s banks has issued its first guidance on stablecoins , the cryptocurrency backed by traditional currency. .

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Office of the Comptroller of the Currency OCC Stablecoins Due Diligence 138

PYMNTS

NOVEMBER 8, 2020

Authorities in the Philippines are probing a law office and tour operator for potential connections to Wirecard , the payments provider disgraced after a global scandal, and Jan Marsalek , its former chief operating officer who has been on the run for the past several months, according to the Financial Times (FT).

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Shutdown Laws NOV Central Bank 93

Stax

DECEMBER 2, 2024

Several new laws seek to ban “drip pricing” or “junk fees,” and their uncertain meaning has resulted in confusion among merchants and acquirers. What are drip pricing laws? This language is from California’s “Honest Pricing Law,” also known as SB 478 , which went into effect on July 1, 2024.

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Junk Fees Credit Cards Push-to-Card Laws 68

PYMNTS

SEPTEMBER 30, 2020

It would instead offer payment companies a national servicing platform to replace the regime of state regulations such firms would be subject to under existing laws. But last fall, a federal appeals court questioned the OCC’s authority to issue such a charter. However, the banking industry doesn’t like that one bit. “We

Office of the Comptroller of the Currency 139

Office of the Comptroller of the Currency OCC Non-Bank Regulations 139

The Fintech Times

DECEMBER 9, 2024

The CFPBs decision The CFPB, which enforces federal consumer financial protection laws, announced its decision to supervise Google Payment Corp last Friday. The move follows the agencys use of a dormant legal authority revived in 2022 to oversee nonbank entities deemed to pose risks to consumers.

Consumer Financial Protection Bureau (CFPB) 75

Consumer Financial Protection Bureau (CFPB) CFPB Regulations Legal 75

PYMNTS

MARCH 20, 2020

Just weeks ago there was talk that Chinese-made drones were a threat to American security, but authorities are increasingly looking to them as alternatives to human contact as the coronavirus crisis continues.

Law Enforcement 126

Law Enforcement Use Case Legal Laws 126

Open Banking Excellence

SEPTEMBER 27, 2024

Half a decade ago, Mexico demonstrated its ongoing commitment to updating its financial regulation with the introduction of the Fintech Law. Nevertheless, it is essential to review and complement the existing legislation with complementary laws to fully unleash the potential of this ecosystem.

Financial Inclusion 147

Financial Inclusion FinTech Laws Regulations 147

Fintech News

FEBRUARY 21, 2024

The Indonesian Financial Services Authority (OJK) is closely monitoring Investree , a fintech peer-to-peer lending platform, following public reports of potential operational and consumer protection violations. If violations are proven, the OJK said that it will take necessary actions, potentially collaborating with law enforcement officials.

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Law Enforcement Audit Authorization Consumer Protection 96

PYMNTS

APRIL 6, 2020

The law firm noted that the bank updated its policy on April 4 by letting depository-only customers apply for PPP loans after the filing of a class action compliant.

Payroll 95

Payroll Small Business Legal Laws 95

Fintech News

MARCH 31, 2024

The Monetary Authority of Singapore (MAS) has officially rolled out the COSMIC platform , a digital initiative aimed at bolstering the defense against money laundering, terrorism financing, and the proliferation of weapons of mass destruction.

Financial Crimes 84

Financial Crimes Crime Money Laundering Law Enforcement 84

PYMNTS

SEPTEMBER 21, 2020

BuzzFeed said the thousands of suspicious activity reports, authored by lenders and shared with the government, offer a glimpse into global corruption enabled by banks and allowed to flourish by regulators. Of those, at least four went on to break the law again and get fined. told the news outlet.

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Fincen Suspicious Activity Report (SAR) Money Laundering SARS 111

Fintech News

JUNE 23, 2024

While DPT activities in Singapore constitute a small portion of global activities, authorities have noted a rise in reported cases and various ways these tokens can be exploited. Consequently, Singapore is closely monitoring the sector.

Money Laundering 89

Money Laundering Risk Crime Law Enforcement 89

Fintech News

MARCH 31, 2024

The Indonesian Financial Services Authority (OJK) has issued a new mandate requiring all financial institutions introducing new products and services, including those related to crypto assets, to participate in a regulatory sandbox.

Consumer Protection 97

Consumer Protection Risk Management Regulations Legal 97

VISTA InfoSec

SEPTEMBER 14, 2023

We will examine the effects of GDPR in the US and how businesses can adhere to this European privacy law. It’s important to note that the law extends to any EU resident, irrespective of citizenship. EU citizens in the US are protected by US federal and state laws like CalOPPA, COPPA, CCPA, and CDPA. GDPR and U.S.

Compliance 130

Compliance Privacy Processors Legal 130

VISTA InfoSec

OCTOBER 21, 2024

Navigate legal and regulatory frameworks Dealing with laws and rules about cybersecurity in different countries is a must. You need to know these laws well because they affect how you manage cybersecurity when dealing with multiple languages. Think about the various regulations around the world.

Cybersecurity 135

Cybersecurity Compliance Encryption Best Practices 135

PYMNTS

NOVEMBER 25, 2020

Digital assets are reportedly seen as commodities and ruled by securities law in the country following an order on the topic earlier in the fall. 23, a pilot was rolled out with the Singapore Customs and Singapore Infocomm Media Development Authority (IMDA) to experiment with digital verification infrastructures.

Bitcoin 110

Bitcoin Blockchain Digital Currency Blocks 110

VISTA InfoSec

JUNE 21, 2023

How quickly you need to notify the authorities or your local cybersecurity council, or whether you need to escalate further, can depend on your location, the type of business you have, and how big the risk might be. Be sure to familiarize yourself with state laws, which your legal counsel will be able to help with.

Data Breach 130

Data Breach Breach Law Enforcement Cybersecurity 130

PYMNTS

JUNE 24, 2020

Telegram has reported previous data breaches, including one in August 2019 in which Hong Kong activists reported breaches to their phone activity that allowed law enforcement to track them. Russian authorities also recently lifted a two-year ban on Telegram in their country. Data breaches have not slowed during the pandemic.

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Breach Data Breach Law Enforcement Database 115

VISTA InfoSec

JUNE 3, 2024

Here are some important tips for creating a GDPR-compliant password policy: Understanding GDPR and Its Implications The General Data Protection Regulation (GDPR) is a comprehensive data protection law enacted by the European Union to safeguard its citizens’ privacy and personal data.

MFA 130

MFA Credential PCI DSS Compliance 130

PYMNTS

JANUARY 27, 2021

Some criminals believe mistakenly that cryptocurrency is beyond the reach of law enforcement,” said U.S. Meanwhile, the Financial Sector Conduct Authority (FSCA) of South Africa is seeking greater regulatory power over cryptocurrency after the collapse of bitcoin trading company Mirror Trading International (MTI), Bloomberg reported. “At

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Bitcoin Law Enforcement Cryptocurrency Authorization 100

Fintech News

JULY 21, 2024

Indonesia’s Financial Services Authority (OJK) plans to raise the maximum limit for peer-to-peer (P2P) funding above the current IDR 2 billion cap, specifically for productive funding used for business and economic activities, rather than consumptive funding for personal use.

P2P 87

P2P Caps Consumer Protection Risk Management 87

PYMNTS

NOVEMBER 4, 2020

Fagundes, the release stated, has been charged with numerous crimes, including "operation of a financial institution without legal authorization, fraudulent management of a financial institution, misappropriation, and money laundering," along with violating securities laws.

Fincen 93

Fincen Crime Cryptocurrency Money Laundering 93