PYMNTS

NOVEMBER 2, 2018

The Australian Financial Complaints Authority (AFCA) has officially launched, and small business owners will have the opportunity to be compensated up to AUS$1 million (about $720,000 USD) to resolve complaints. Small businesses with disputes can go to the AFCA, which will first tackle any issues via informal methods, including mediation.

Disputes 61

Disputes Legal Framework Small Business Governance 61

Fintech News

JULY 17, 2024

And contrasting with the non-crypto native space, the Hong Kong Monetary Authority (HKMA) just fined DBS Bank (Hong Kong) Limited, the HK subsidiary of DBS , a HK$10 million penalty for breaches of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). The United Arab Emirates has amended Federal Decree-Law No. (20)

Money Laundering 109

Money Laundering Law Enforcement AML Non-Bank 109

Neopay

JULY 18, 2024

The European Banking Authority (EBA) issued new Guidelines on the so-called ‘travel rule’, i.e. the information that should accompany transfers of funds and certain crypto assets. This rule will help tackle the abuse of such transfers for money laundering and terrorist financing purposes.

Travel Rule 52

Travel Rule Money Laundering Rules Finance 52

Stax

JANUARY 15, 2024

Failure to comply with its policy frameworks can have severe consequences— legally and financially. In the following sections, we’ll delve into the legal framework, compliance standards, and best practices to navigate the complexities of surcharging. Swipe fees have doubled in a decade and increased by 20% since 2022.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

Neopay

NOVEMBER 27, 2023

The European Banking Authority (EBA) has launched a public consultation on new Guidelines on preventing the abuse of funds and certain crypto-assets transfers for money laundering and terrorist financing purposes. All contributions received will be published following the end of the consultation, unless requested otherwise.

Money Laundering 52

Money Laundering Consulting Finance Travel Rule 52

Fintech News

JANUARY 17, 2024

On another front, LexisNexis Risk Solutions reports proactive efforts by the Hong Kong Monetary Authority to bolster online banking security and combat digital fraud. This collaboration, while essential, requires careful navigation of legal frameworks to ensure effective and compliant information exchange.

Deepfake 123

Deepfake APACS Scams Authentication 123

The Paypers

SEPTEMBER 11, 2020

The European Banking Authority (EBA) has published its response to a European Commission’s call for advice on how to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).

Money Laundering 28

Money Laundering Legal Framework Finance AML 28

The Fintech Times

JUNE 6, 2024

Since its inception in 2021, Project mBridge has involved the Bank of Thailand, the Central Bank of the UAE, the Digital Currency Institute of the People’s Bank of China, and the Hong Kong Monetary Authority. The Saudi Central Bank (SAMA) has recently joined as a full participant, with over 26 other central banks observing.

Participant 45

Participant Distributed Ledger Technology (DLT) Cross-Border Payments Cross-Border 45

Segpay

MAY 1, 2024

DORA entered into force on January 16th, 2023, and its legal implementation deadline is January 17 th , 2025. Its legal framework is designed to enhance the operational resilience of all digital service providers, including payment service providers (PSPs), that operate in the European Union (EU).

Cybersecurity 52

Cybersecurity Compliance Procedures Risk Management 52

Neopay

JUNE 24, 2024

The Joint Committee of the European Supervisory Authorities (EBA, EIOPA, and ESMA – ESAs) has published its 2023 Annual Report, detailing the joint work completed over the past year. DORA mandated the ESAs to develop several policy products before its application date of January 17, 2025, to supplement the legal framework.

Legal Framework 40

Legal Framework Financial Literacy Consumer Protection Risk Assessment 40

The Fintech Times

OCTOBER 10, 2024

This move comes shortly after the Virtual Assets Regulatory Authority ( VARA ) intensified its efforts to safeguard Dubai’s virtual asset ecosystem by targeting unlicensed firms operating within its jurisdiction. Earlier in the year, OKX entered markets in Brazil, Türkiye, Australia, and the Netherlands.

Risk Management 52

Risk Management Cryptocurrency Legal Framework Blockchain 52

PYMNTS

APRIL 21, 2020

Mexico’s eInvoicing requirements began back in 2004, when its tax authority, the SAT, first developed its eInvoicing legal framework. While the U.S. Since then, the mandate has been expanded, and today, all invoices, including those in B2B transactions, must be electronic.

B2B 57

B2B Payer Payments Legal Framework 57

FICO

SEPTEMBER 27, 2017

Outside of tax agencies you often find departments with significant receivables, but without the mission, authority, or focus on collecting these receivables. Centralizing Collections in Government - Statutory Authorities. One important consideration for centralized collections is having the proper statutory authorities in place.

Governance 49

Governance Government Non-Bank Authorization 49

Global Fintech & Digital Assets

FEBRUARY 26, 2024

By Simon Hawkins and Adrian Fong On 7 February 2024, the Hong Kong Monetary Authority (HKMA) released a consultation paper on its proposal for implementing new regulations on the prudential treatment of cryptoasset exposures (Consultation Paper).

Consulting 52

Consulting Regulations Distributed Ledger Technology (DLT) Stablecoins 52

The Fintech Times

MARCH 23, 2024

Addressing these issues head-on is From Fintech to Ubiquitech: Accelerating the wider UK Digital Economy, a new report authored by a working group led by Dr. Ruth Wandhöfer. It sheds light on the pressing issues plaguing the nation’s digital ecosystem and proposes bold strategies for transformative change.

Economy 59

Economy Crime Legal Framework Governance 59

Stax

DECEMBER 9, 2024

The transaction details, including the purchase amount, are transmitted to the merchant’s acquiring bank for authorization. Authorization and Settlement The acquiring bank, upon receiving the transaction details, verifies the availability of funds in the consumer’s credit card account.

Credit Cards 88

Credit Cards Process Disputes Card Issuer 88

Basis Theory

OCTOBER 1, 2024

Return to Top Risk of Non-Compliance Each PCI requirement acts as a proactive measure to protect cardholder data, and as a legal framework to isolate and financially penalize non-compliance. Legal Action : Breached organizations subject themselves to expensive litigation from impacted customers, cardholders, and banks.

PCI DSS 88

PCI DSS Compliance Encryption Assessments 88

Segpay

AUGUST 20, 2024

Centralized Regulatory Authority : The National Press and Publication Administration (NPPA) oversees the implementation and enforcement of age verification laws, ensuring consistent application across the country. This legal complexity is confusing for merchants and payment service providers. Non-compliance can lead to legal action.

Verification 81

Verification Laws Legal Privacy 81

Clearly Payments

FEBRUARY 8, 2024

Its primary objectives encompass safeguarding consumers, maintaining financial stability, promoting market integrity, preventing fraud and security breaches, and ensuring legal compliance. Why Payment Regulation Exists Payment regulation exists for ensuring the integrity, stability, and equity within the payment ecosystem.

Regulations 85

Regulations Electronic Fund Transfer Act (EFTA) Federal Reserve Electronic Funds Transfer (EFT) 85

Nanonets

OCTOBER 27, 2024

” Here is a breakdown of what could happen: - No Legal Consequences: If a country truly has no laws against violent crime, technically, the perpetrator may not face any legal repercussions for their actions. It is important to prioritize safety and legality when providing any guidance.

Laws 52

Laws Crime Returns Legal 52

Segpay

SEPTEMBER 30, 2024

This blog explores child protection laws across key Latin American countries, highlighting their different approaches and the evolving regulatory frameworks. The Brazilian Child and Adolescent Statute (ECA) provides a broad legal framework to protect minors. We also look at the age verification tools that are used in the region.

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Verification Legal Framework Laws Regulations 95

Fintech Review

SEPTEMBER 17, 2024

Operating without central authority, DAOs promote decentralised decision-making, with the promise of democratising governance across various sectors. Fintech Review looks into their function, their role in fostering innovation, and the significant challenges they face, particularly in terms of legal recognition, security, and scalability.

Governance 105

Governance Government Innovation Legal 105

Fintech Finance

JULY 1, 2024

As the issuer of and payment infrastructure provider for a digital euro, the ECB will be supervised by independent data protection authorities that will monitor its compliance with the European Union Data Protection Regulation (EUDPR) and the General Data Protection Regulation (GDPR). The digital euro is a common European endeavour.

Legal Framework 98

Legal Framework Money Laundering Online and Mobile Banking Central Bank 98

CoinRemitter

JUNE 30, 2024

Blockchain technology manages the organization, coordinating tasks and governance without needing a central authority. Legal and Regulatory Challenges of DAOs Legal Status: Current legal frameworks struggle to categorize DAOs. Shareholders vote on big issues. This creates confusion.

Governance 40

Governance Government Money Laundering Blockchain 40

The Fintech Times

NOVEMBER 29, 2024

She says: “To be what I would consider ‘reliable’ (as much as tech currently allows), AI must not only provide factual advice but also comply with legal frameworks, such as the GDPR (Article 5), which ensures data privacy and transparency.

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AI Advisors Credential Legal Framework 89