PYMNTS

AUGUST 28, 2020

Epic emailed its Fortnite players that the iOS and Mac versions of the game are blocked from receiving updates. 28) arguing that Epic violated Apple’s rules. Epic Games and Apple are at liberty to litigate against each other, but their dispute should not create havoc to bystanders,” Rogers wrote in a ruling. This week, U.S.

Disputes 90

Disputes Blocks Rules Legal 90

Fintech Finance

MARCH 22, 2024

This surge in Payment Frauds due to digital transactions poses a significant threat to security, causing critical issues for businesses such as direct revenue loss, bank account debit freeze, working capital blockages, operational complexities, legal expenses, and the looming threat of account termination due to high chargebacks.

PCI DSS 52

PCI DSS Payment APIs and Integration Risk Management Payments 52

PYMNTS

OCTOBER 26, 2018

More legal troubles have emerged for the Office of the Comptroller of the Currency (OCC) over its plan to introduce national bank charters for FinTechs, aimed at making it easier for alternative financial services players to do business. Reports in Reuters on Thursday (Oct.

Office of the Comptroller of the Currency 62

Office of the Comptroller of the Currency OCC Regs Blocks 62

PYMNTS

NOVEMBER 18, 2019

Legislation in California that aims to expand worker protections for so-called gig economy workers has led to a debate in the state’s freight services market and a lawsuit hoping to block the law. The CTA filed its lawsuit to block California’s law last week, the report said. “To Finance reported Monday (Nov.

Laws 40

Laws Legal Continuity Blocks 40

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

PYMNTS

JULY 11, 2017

The Consumer Financial Protection Bureau (CFPB) has handed down a controversial ruling stating companies cannot opt to use arbitration clauses in their contracts with consumers in a manner that keeps consumers from joining class action lawsuits. The rule begins applying to agreements and contracts 180 days later.

CFPB 40

CFPB Rules Consumer Financial Protection Bureau (CFPB) Credit Cards 40

PYMNTS

APRIL 1, 2020

Washington State Governor Jay Inslee signed a bill on Tuesday (March 31) establishing specific rules – backed by Microsoft – governing facial recognition software, according to a blog by Bill Smith, president of Microsoft. In our view, this required a legal floor of responsibility, governed by the rule of law,” Smith said.

Laws 121

Laws Law Enforcement Governance Government 121

PYMNTS

MAY 5, 2016

Later this morning the CFPB will begin taking comments on proposed rules that would ban financial firms from placing mandatory arbitration clauses within consumer contracts. Many banks and financial companies avoid accountability by putting arbitration clauses in their contracts that block groups of their customers from suing them.

CFPB 40

CFPB Rules Credit Cards Disputes 40

PYMNTS

JULY 4, 2016

Spotify had sent the ‘anticompetitive’ accusation letter to Apple earlier last week, after Apple blocked an update to Spotify’s iOS app, allegedly to thwart any potential competition to its Apple Music service.

Rules 41

Rules Blocks Legal Laws 41

PYMNTS

JULY 7, 2019

Are new bitcoin rules coming? Congress “is considering at least three bills that would resolve some of the murky legal issues surrounding digital money.”. is falling behind: Japan and Switzerland have developed legal frameworks that have attracted cryptocurrency projects and investment. The move comes as U.S.

Regulations 82

Regulations Legal Framework Cryptocurrency Bitcoin 82

PYMNTS

OCTOBER 11, 2020

Large platforms on the list will have to deal with the tougher regulations as opposed to smaller companies, such as new rules forcing them to share data and offer transparency on how they gather information, sources told FT. headquarters in Silicon Valley.

Regulations 125

Regulations Rules Blocks Legal 125

PYMNTS

SEPTEMBER 13, 2020

Epic asked the Northern California District court to stop Apple from blocking the game. Epic Games and Apple are at liberty to litigate against each other, but their dispute should not create havoc to bystanders,” Rogers wrote in a ruling. Apple fought back. In advance of a hearing set for later this month, U.S. On Thursday (Sept.

Blocks 63

Blocks Disputes Legal Rules 63

PYMNTS

NOVEMBER 20, 2020

The European Commission noted on its site that the legal framework for digital services has been unchanged in the region for about 20 years. The Digital Services Act package would propose ex-ante rules covering large online platforms acting as gatekeepers, which now set the rules of the game for their users and their competitors.

Legal Framework 104

Legal Framework Rules Fed Regulations 104

PYMNTS

NOVEMBER 21, 2016

According to a report by Fortune , last week, the Supreme Court ruled the class-action lawsuit can move forward. The court ruled a district court was wrong when coming to the determination that consumers had no legal standing for a lawsuit and that it hadn’t showed antitrust violations. Visa, Mastercard and banks in the U.S.

Visa 66

Visa ATM Consumer Legal 66

Seon

JULY 10, 2024

Analysis : Advanced algorithms and machine learning models analyze collected data and compare it against predefined rules, historical patterns, and known fraud indicators. It uses predefined rules and thresholds , such as sudden large transactions, frequent small transactions or transactions to high-risk regions.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

PYMNTS

JULY 7, 2019

Are new bitcoin rules coming? Congress “is considering at least three bills that would resolve some of the murky legal issues surrounding digital money.”. is falling behind: Japan and Switzerland have developed legal frameworks that have attracted cryptocurrency projects and investment. The move comes as U.S.

Regulations 51

Regulations Legal Framework Cryptocurrency Bitcoin 51

PYMNTS

SEPTEMBER 9, 2020

28, which it did, arguing that Epic violated Apple’s rules. Apple’s removal of Fortnite is yet another example of Apple flexing its enormous power in order to impose unreasonable restraints and unlawfully maintain its 100 percent monopoly over the iOS In-App Payment Processing Market,” Epic Games wrote in the legal filing.

Rules 63

Rules Blocks Legal Process 63

Nanonets

NOVEMBER 14, 2023

This approach often succeeds because recipients, perceiving the email as originating from a trusted source like a colleague or legal representative, may unwittingly comply without suspicion. Attorney Impersonation: BEC scammers, posing as attorneys or legal representatives, send emails claiming urgent legal matters requiring immediate action.

Email Compromise 52

Email Compromise Business Email Compromise Compromise Phishing 52

Fintech News

JULY 24, 2024

There are no exhaustive or proper regulations of repurchase activities, hence RBI may see it as a circumvention of the FLDG rule. Operating under the FLDG rule is risky in itself because it does not allow fintechs to work with the segments that they are primarily targeting. Once it reaches this limit, it has to get a license to lend.

Non-Bank 102

Non-Bank Risk Regulations FinTech 102

PYMNTS

DECEMBER 18, 2018

million) for illegally blocking cross-border sales in Europe. Guess’ distribution agreements tried to prevent EU consumers from shopping in other Member States by blocking retailers from advertising and selling cross-border,” Commissioner Margrethe Vestager, in charge of competition policy, said in a press release.

Cross-Border 43

Cross-Border Blocks Rules Agreements 43

PYMNTS

SEPTEMBER 9, 2020

28, which it did, arguing that Epic violated Apple’s rules. Apple’s removal of Fortnite is yet another example of Apple flexing its enormous power in order to impose unreasonable restraints and unlawfully maintain its 100 percent monopoly over the iOS In-App Payment Processing Market,” Epic Games wrote in the legal filing.

Rules 56

Rules Blocks Legal Process 56

PYMNTS

DECEMBER 5, 2019

No global stablecoin arrangement should begin operation in the European Union until the legal, regulatory and oversight challenges and risks have been adequately identified and addressed,” the ministers said in a joint statement. The finance ministers also emphasized the need for legal clarity regarding any cryptocurrency arrangements.

Digital Currency 52

Digital Currency Stablecoins Finance Central Bank 52

Seon

APRIL 11, 2024

Both departments are crucial in identifying and mitigating fraud and reducing risk, including financial, operational, legal and reputational hazards. Moving in the other direction, fraud teams can leverage traditional AML information to create more robust and refined risk rulings.

Fraud Prevention 52

Fraud Prevention AML Money Laundering Financial Crimes 52

PYMNTS

APRIL 18, 2018

Russia is making good on its threat to ban Telegram by blocking IP addresses owned by Google and Amazon, saying they were being used by the messaging service. On Monday (April 16), a Russian court made it easier for the government to block Telegram after its creators refused to turn over access to its users’ encrypted messages.

Blocks 43

Blocks Encryption Authorization Addressing 43

Nanonets

SEPTEMBER 15, 2024

These AI-powered tools extract data accurately, validate the extracted information, flag discrepancies, route documents for approval based on custom rules, and finally export it to downstream business software. This could lead to severe safety risks, legal consequences, and damage to your reputation. The result?

Automation 52

Automation Process Disputes AI 52

PYMNTS

JUNE 14, 2017

Potcoin , the digital cryptocurrency similar to bitcoin but aimed at the legal marijuana market, got much-needed publicity by sponsoring Dennis Rodman’s trip to North Korea. The rule would serve as an extension of an Obama-era policy that gave banks guidance on working with cannabis-related businesses and staying within the law.

Legal 71

Legal Laws Blocks Bitcoin 71

PYMNTS

APRIL 30, 2019

The document illustrates how little action was taken to respond to the warnings, a move that the EBA says is a breach of EU rules. Earlier in the month, EU’s national banking supervisors, who oversee the EBA, did not agree with the proposal on the breach of rules and blocked any further action against Danish and Estonian regulators.

Money Laundering 51

Money Laundering Central Bank Breach Rules 51

PYMNTS

MARCH 3, 2020

Several legal experts have said that TurboTax’s deal to buy personal finance site Credit Karma for $7.1 Some have pointed to a similar attempt by H&R Block, when it tried to purchase another do-it-yourself tax software company in 2011 but was blocked by regulators. Intuit Bid For Credit Karma Triggers Antitrust Worries.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) CFPB Blocks Cryptocurrency 52

Seon

MAY 28, 2024

Additionally, implementing velocity rules makes it possible to identify payment anomalies and detect irregularities like rapid turnarounds between registration and withdrawal or unusual deposit-to-withdrawal ratios. SEON’s anti-fraud experts have crafted rules to identify and combat bots in a custom rules engine.

Security 52

Security Fraud Prevention AML Bots 52

PYMNTS

APRIL 16, 2019

got approval to move forward after a court reversed a ruling by the Competition Appeal Tribunal. Court of Appeal rejected the tribunal’s ruling from 2017, which had blocked the claimants from pursuing the case led by Walter Merricks, the former financial ombudsman. A consumer lawsuit against Mastercard in the U.K.

Visa 59

Visa Cross-Border Payments Cross-Border Rules 59

Seon

MAY 16, 2024

Operators may even face legal complications if found negligent in identifying and addressing fraudulent activities. Regulatory & Legal Implications As a highly regulated industry, operators must adhere to strict standards to maintain their licenses. From the perspective of players, the ramifications are equally critical.

Fraud Prevention 52

Fraud Prevention Accounts Verification Legal 52

PYMNTS

MARCH 25, 2019

million (40 million euros) for blocking cross-border sales in Europe. Vestager said in a press release at the time, “GUESS’ distribution agreements tried to prevent EU consumers from shopping in other Member States by blocking retailers from advertising and selling cross-border.” based retailer GUESS $45.3

Cross-Border 40

Cross-Border Blocks Agreements Legal 40

PYMNTS

FEBRUARY 21, 2019

It looks like the deal to merge Sainsbury’s with Walmart-owned Asda could be in fatal trouble — after a ruling by the Competition and Markets Authority on a deal that would have created the U.K.’s Some consumer groups have thus lauded the ruling as protecting consumers right to a diverse array of goods. billion) deal.

Rules 46

Rules Blocks Legal Regulations 46

FICO

JUNE 18, 2018

Banks are identifying, categorising and provisioning NPL more rigorously, and working on standardising and improving work-out, legal enforcement and underwriting processes. You can analyse the European landscape by dividing the countries into 3 blocks. Block 1 — Countries with NPL ratios > 20%. NPL Divides Europe.

Blocks 63

Blocks Non-Bank Risk Volume 63

Nanonets

MAY 20, 2024

Legal and compliance. Is web scraping legal? While web scraping itself isn't illegal, especially for publicly available data on a website, it's important to tread carefully to avoid legal and ethical issues.    The key is respecting the website's rules. How to scrape data from a website to Excel?

Automation 59

Automation Use Case Database Legal 59

Fintech Review

OCTOBER 1, 2024

AI and Machine learning: The new kids on the block Artificial Intelligence (AI) and Machine Learning (ML) are slowly emerging to poise themselves as transformative AML and KYC processes. These technologies enable financial institutions to analyse vast amounts of data quickly, detecting risks with greater efficiency.

AML 98

AML Verification Research Consumer 98

The Finance Weekly

FEBRUARY 3, 2024

Fast forward to 2024, Artificial Intelligence (AI) tools can instantly whip up poems, stories, and even legal or medical documents with just a few ticks. New technologies like blockchain and web3 platforms could be the building blocks for ,, innovative payment methods when combined with concepts like self-sovereign or decentralized identity.

Metaverse 52

Metaverse AI Innovation On-Demand 52