The Payments Association

NOVEMBER 7, 2024

However, it is also under the perception of being beset by tough legal challenges, high fraud levels, and constant scrutiny from governments trying to regulate an industry evolving at a rapid pace. The state of play Navigating the fine tightrope that is regulation and compliance often feels like a maze.

Compliance 88

Compliance Innovation Regulations Payments 88

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

The Fintech Times

SEPTEMBER 12, 2024

However, it is key not to forget the role of the regulator. In July, the Competition and Markets Authority (CMA) revealed four UK high-street banks had failed to comply with banking rules designed to keep customers safe. Should regulators impose tougher penalties on firms that fail to comply?

Compliance 63

Compliance Regulations Financial Crimes Non-Bank 63

VISTA InfoSec

OCTOBER 21, 2024

They are appointed based on article 37 of GDPR, and help organizations stay compliant with data protection laws by overseeing data security policies, monitoring internal compliance, and providing expert advice for staffs managing the potential data privacy risks. Working closely with the supervisory authority on processing-related matters.

CCPA 130

CCPA Privacy Assessments Laws 130

PYMNTS

SEPTEMBER 30, 2020

Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. The pandemic is dramatically altering how merchants can transact, which data they can store and where they can store it, however.

Privacy 70

Privacy Regulations Laws Rules 70

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. Retailers of all sizes will be forced to prepare for new, stricter regulations.

Privacy 99

Privacy Regulations Laws Agreements 99

Global Fintech & Digital Assets

NOVEMBER 16, 2023

Recognizing new realities in decentralization, the regulations aim to provide market players with governance flexibility within distributed ledger technology foundations. The Regulations were published on November 1, 2023. Latham & Watkins has advised ADGM in drafting the Regulations. What are DLT Foundations?

Regulations 52

Regulations Technology Distributed Ledger Technology (DLT) Audit 52

Fintech News

OCTOBER 6, 2024

One major focus is on proactive prevention, where the IMC advocates for tighter regulations on corporate service providers and enhanced due diligence for non-financial sectors vulnerable to exploitation by money launderers. On effective enforcement, the IMC proposes strengthening the legislative tools available to law enforcement agencies.

Money Laundering 115

Money Laundering Law Enforcement Financial Crimes Due Diligence 115

Finextra

SEPTEMBER 12, 2024

As the national independent authority in Ireland, the Data Protection Commission (DPC) is responsible for protecting the personal data of individuals in the EU in accordance with GDPR, the EU's Law Enforcement Directive (LED) and Irish ePrivacy Regulations.

Law Enforcement 59

Law Enforcement Laws AI Authorization 59

The Fintech Times

DECEMBER 21, 2023

The American Fintech Council (AFC), the industry association representing fintech and banks, has given its support for The Fair Audits and Inspections for Regulators’ (FAIR) Exams Act, which aims to enhance transparency and accountability in bank examinations. said Phil Goldfeder , CEO of the American Fintech Council.

Regulations 63

Regulations Accounts FinTech Disputes 63

Fintech Review

OCTOBER 22, 2024

Cryptocurrencies have rapidly gained prominence over the last decade, presenting both opportunities and challenges for individuals, businesses, and regulators alike. As digital assets become more widespread, taxation laws are being shaped and adapted to accommodate them. million won (£1,500) beginning in 2025.

Cryptocurrency 97

Cryptocurrency Laws IRS Regulations 97

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. FinTech in Mexico Mexico introduced the Fintech Law in March 2018 as a response to the remarkable 50% growth in the number of fintech firms in the preceding two years.

Financial Inclusion 147

Financial Inclusion FinTech Laws Regulations 147

Global Fintech & Digital Assets

DECEMBER 18, 2023

Under the Dodd-Frank Act, large non-bank digital consumer payment companies are subject to CFPB enforcement authority. However, the CFPB will take into account “the extent of relevant state oversight” and pledged to “coordinate with appropriate State regulatory authorities in examining larger participants.”

CFPB 75

CFPB Regulations Consumer Financial Protection Bureau (CFPB) Non-Bank 75

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 99

P2P Caps Consumer Protection Risk Management 99

PYMNTS

JUNE 13, 2019

Latvia’s parliament has passed new regulation to bolster the fight against money laundering and terrorism financing. The move to strengthen its laws comes before a review by international money-laundering standards watchdog Moneyval, which some officials worry will deem the country as risky. million euros ($3.26

AML 48

AML Money Laundering Laws Regulations 48

PYMNTS

JANUARY 29, 2020

s Competition and Markets Authority (CMA), which said the site was misleading consumers, according to a report by the Financial Times. The site is potentially facing legal action, and the regulator is already investigating eBay’s proposed sale of StubHub to its rival in the country, Viagogo. In the U.K.,

Authorization 52

Authorization Legal Laws Regulations 52

Fintech News

OCTOBER 22, 2024

Indonesia’s Financial Services Authority ( OJK ) has revoked the business license of PT Investree Radhika Jaya ( Investree ), a peer-to-peer lending platform. The regulator shared that asset tracing and potential legal proceedings are underway.

Legal 101

Legal Laws Authorization Addressing 101

VISTA InfoSec

AUGUST 22, 2023

The General Data Protection Regulation (GDPR) plays a key role in safeguarding individuals’ privacy rights and ensuring the responsible handling of biometric data. In 2019, a Swedish local authority was fined over $20,000 for using facial recognition software to monitor high school students’ attendance.

Privacy 130

Privacy Compliance Legal Best Practices 130

Fintech News

AUGUST 6, 2024

Minister Chee stated that his focus would be on the regulatory perspective of the Monetary Authority of Singapore (MAS). The MAS assessment emphasized the regulator’s role in promoting a sound financial sector, focusing on insurer risk management and long-term policy protection. billion (EUR 1.5 billion (EUR 1.5

Consumer Protection 100

Consumer Protection Consumer Risk Management Best Practices 100

FICO

NOVEMBER 7, 2022

Fighting Scams and Authorized Push Payment Fraud in the US. US regulators seem poised to update the status quo for bank liability for authorized user/authorized push payment fraud, but just how big is the potential? In multiple geographies around the world, there has been a strong focus on authorized push payment fraud.

Scams 52

Scams Authorization P2P Zelle 52

Global Fintech & Digital Assets

MARCH 5, 2024

Regulator sets out its expectations for banks looking to provide digital asset custody services, and sell and distribute tokenised products. The guidance continues the momentum of digital asset regulation in Hong Kong, following a raft of other rules and consultations recently published by Hong Kong regulators.

Authorization 59

Authorization Product Due Diligence Procedures 59

PYMNTS

DECEMBER 4, 2020

4), Dutch antitrust regulators have been looking at the company – specifically into Apple’s Pay’s near-field communications (NFC) operability. It should be noted that the Netherlands Authority for Consumers and Markets (ACM) did not explicitly name Apple in its announcement of an investigation into NFC.

Regulations 60

Regulations Authorization Laws Contactless Payments 60

VISTA InfoSec

JUNE 3, 2024

If your company has ever worked with businesses in European Union countries, you probably had to follow the EU’s General Data Protection Regulation (GDPR). Compliance with Other Standards and Regulations While GDPR sets a high bar for data protection, organizations must also consider compliance with other relevant standards and regulations.

MFA 130

MFA Credential PCI DSS Compliance 130

The Fintech Times

NOVEMBER 6, 2024

After receiving initial approval from the Regulations Lab within the UAE government under the supervision of the Securities and Commodities Authority (SCA), ADIB is aiming to facilitate this in the future.

Risk Mitigation 58

Risk Mitigation Authorization Mitigation Risk 58

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 100

Authorization Laws Business Day Compliance 100

PYMNTS

NOVEMBER 9, 2020

Regulation. EU Gears Up To Propose New Big Tech Regulations. Australian Regulator Looks Into Merger Law Changes. million) penalty for not following a new social media law, Reuters reported, citing Omer Fatih Sayan, the deputy transport and infrastructure minister. Turkey Hits Big Tech Platforms With $1.18M Penalty.

Regulations 84

Regulations Privacy Compliance Laws 84

PYMNTS

DECEMBER 29, 2020

According to Anadolu Agency , Turkey's state-run news agency, prosecutors issued the warrant after a joint probe by Turkish financial crime investigators and tax authorities into a reported $132 million money laundering scheme in Turkey, the AP reported. the Associated Press (AP) reported. Also this month, the U.S.

Authorization 67

Authorization Financial Crimes Money Laundering Email Compromise 67

FICO

MAY 25, 2023

Home Blog Feed test AI Development Can’t Be Paused—But It Can Be Regulated Since Generative AI is here to stay, ChatGPT’s base grew by 9,900% in 60 days, with 1.8 But it is possible to mitigate further wrongs by regulating artificial intelligence, and I believe effective proposed regulation should start from organizations using AI.

AI 52

AI Regulations Audit Governance 52

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. Those failing to comply will be deemed unlicensed or illegal.

Consumer Protection 107

Consumer Protection Risk Management Regulations Legal 107

PYMNTS

DECEMBER 11, 2019

The lawmakers warned that both companies should allow for “backdoor” access to law enforcement or they would be forced to regulate the technology. Attorney General William Barr, as well as authorities in the U.K. senators went head to head with executives of Apple and Facebook on Tuesday (Dec.

Law Enforcement 52

Law Enforcement Encryption Laws Privacy 52

PYMNTS

JULY 9, 2020

Authorities in China have confiscated bitcoin, ether and tether worth more than $15 million and luxury cars from those who allegedly ran a purported cryptocurrency scheme, CoinDesk reported. The victim reportedly told authorities, “Simply put, you send one unit of ETH to a designated address, you will receive 60 HT.

Law Enforcement 64

Law Enforcement Laws Stablecoins Addressing 64

PYMNTS

JUNE 26, 2020

Brussels is seeking an investigation into the Federal Financial Supervisory Authority ( BaFin ), Germany’s financial regulatory authority, for its failure to supervise Wirecard, the Financial Times reported. The Wirecard scandal surrounding the German payment processor missing $1.2 billion has spilled over the border to Belgium.

Regulations 61

Regulations Authorization Processors Laws 61

Open Banking Excellence

MAY 2, 2024

Innovation and the business environment in Georgia With fintech and Open Banking, we have a chance to act as a hub to enable the flow of data and the transmission of best practices on standards and regulations. Businesses are empowered to more easily and efficiently navigate the regulator landscape. With a population of just 3.7

Interoperability 147

Interoperability Payment APIs and Integration Central Bank Cross-Border 147

PYMNTS

DECEMBER 11, 2019

The lawmakers warned that both companies should allow for “backdoor” access to law enforcement or they would be forced to regulate the technology. Attorney General William Barr, as well as authorities in the U.K. senators went head to head with executives of Apple and Facebook on Tuesday (Dec.

Law Enforcement 52

Law Enforcement Encryption Laws Privacy 52

PYMNTS

FEBRUARY 26, 2020

“Most trucking companies have a business model that leverages independent owner-operators, and that model is facing continuous challenges from regulators and litigants to maintain true independence,” said Scott Prince, CEO of CarrierHQ. AB5 was put into law last year.

Laws 56

Laws Adjustments Legal Authorization 56

PYMNTS

OCTOBER 7, 2018

Chinese authorities are getting more power to inspect the information technology, or IT, of companies and access property information and business data as part of new cybersecurity rules, reported the Wall Street Journal. It justifies for the authorities the right to basically copy or access anything,” Zarit said. “It

Authorization 59

Authorization Cybersecurity Rules Laws 59

PYMNTS

JANUARY 22, 2020

India is on the verge of passing a data protection law in 2020 that, in some respects, mirrors – and may help inform – other initiatives around the globe. And once the law is official in India, the country will take its place alongside the U.K. Will India prove to be a model for open banking ? and Australia. The Mechanics of It All.

Laws 56

Laws Payments Data Non-Bank End User 56