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 44

Participant Distributed Ledger Technology (DLT) Cross-Border Payments CBDC 44

PYMNTS

NOVEMBER 20, 2018

According to a report in Reuters , citing European Central Bank Supervisory Board Chair Daniele Nouy, the European Central Bank’s Single Supervisory Mechanism will create an anti-money laundering office that will collect and share the information from other supervisors as well as from authorities.

Money Laundering 73

Money Laundering Central Bank Legal Framework AML 73

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

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

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

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 105

Money Laundering Law Enforcement AML Non-Bank 105

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

PYMNTS

APRIL 12, 2019

“If the data controller implicitly trusts a data processor simply because there is a consistent legal framework in place, criminal abuse of trust will always take place.”

Cybersecurity 77

Cybersecurity Data Breach Breach Legal Framework 77

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 57

Economy Crime Legal Framework Governance 57

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 118

Deepfake APACS Scams Authentication 118

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.

Government 49

Government Governance Non-Bank Authorization 49

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 83

Verification Laws Legal Privacy 83

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 81

Regulations Electronic Fund Transfer Act (EFTA) Federal Reserve Electronic Funds Transfer (EFT) 81

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.

Verification 97

Verification Legal Framework Laws Regulations 97

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.

Government 105

Government Governance Innovation Legal 105

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

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 96

Legal Framework Money Laundering Online and Mobile Banking Central Bank 96

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.

Government 40

Government Governance Money Laundering Blockchain 40