PYMNTS

APRIL 16, 2019

However, as IoT continues to proliferate in more industries and use cases, concerns about data privacy have quickly followed, with consumers and lawmakers ra ising concerns about attacks from bad actors. Another recently introduced piece of legislation aims to protect individuals by regulating facial-recognition cameras.

Privacy 81

Privacy Regulations Data Security Blockchain 81

Innovative Payments Association

AUGUST 15, 2024

However, the rapid advancement of AI technology has also raised concerns about data privacy, security, and potential bias in decision-making processes. One of the key issues that regulators are focusing on is the transparency and explainability of AI algorithms.

Boot Camp 52

Boot Camp Regulations AI FinTech 52

PYMNTS

MARCH 27, 2020

While the advancement of open banking regulations may be seeing a small skip due to the spread of the coronavirus , many countries saw business and typical banking operations halted right after deciding upon new online privacy rules. Considering t he global nature of COVID-19, regulators outside of the U.S.

Privacy 79

Privacy CCPA Rules Regulations 79

PYMNTS

DECEMBER 16, 2020

It’s not clear how happy consumers in the United Kingdom will be over Facebook’s latest move, but privacy advocates are already up in arms. users into new agreements with its corporate headquarters in California, effectively circumventing the European Union’s strict privacy laws, according to an exclusive report by the Reuters news service.

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Privacy Agreements Legal Laws 85

PYMNTS

JUNE 9, 2020

The EU enacted open banking rules in 2018, inspiring regulators worldwide to reconsider how they were transacting funds or transmitting data. The COVID-19 pandemic’s impact on daily business has generated new questions surrounding these initiatives that regulators are now scrambling to answer. and the EU. Australia and Canada.

Privacy 52

Privacy Regulations Online and Mobile Banking CCPA 52

PYMNTS

JANUARY 18, 2019

Regulators in the United States have reportedly met to discuss levying fines against social media giant Facebook , a punishment that could be sizable in scope and which comes in the wake of privacy violations. Other data privacy issues have been reported beyond that linkup. million paid by Google in 2012. billion.

Privacy 51

Privacy Regulations FTC Federal Trade Commission 51

PYMNTS

AUGUST 14, 2020

The Privacy Collective , a London nonprofit whose mission is to protect privacy, has filed suit with the District Court of Amsterdam, accusing the software companies of breaching the European Union’s General Data Protection Regulation (GDPR) in their processing and sharing of people’s information by third-party tracking cookies.

Privacy 78

Privacy Breach Governance Government 78

The Fintech Times

AUGUST 10, 2024

This initiative is timely as global attention on AI compliance intensifies, with new regulations in Asia as well as Europe highlighting the need for secure and ethical practices in the financial industry. It describes it as the first Traditional Chinese large language model developed to comply with global AI governance standards.

Cybersecurity 119

Cybersecurity Compliance AI Privacy 119

PYMNTS

NOVEMBER 24, 2020

“Interestingly, the health industry has actually been ahead of that curve in terms of customer privacy and patient privacy … and as this movement toward more remote interactions in healthcare has continued to expand, now there is even more pressure to identify patients electronically.” . Healthcare And Setting The Privacy Standard.

Privacy 64

Privacy Regulations CCPA Rules 64

Segpay

OCTOBER 3, 2024

Here are some of the most popular age verification tools and methods: Document-Based Verification Yoti : Yoti is a widely used digital identity platform that allows users to upload government-issued identification (like a passport or driver’s license) to verify their age. It is GDPR-compliant and offers high security. Users link their Verify.Me

Compliance 91

Compliance Verification Database Privacy 91

VISTA InfoSec

SEPTEMBER 28, 2023

Until then, businesses should adhere to existing Indian privacy laws, primarily the Sensitive Personal Data or Information Rules (SPDI) 2011. This responsibility includes adhering to DPDP regulations and identifying data processors. All data fiduciaries must adhere to the act’s regulations (Clause 2 (g), DPDP Act).

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The Fintech Times

SEPTEMBER 28, 2024

Iain Armstrong, regulatory affairs practice lead for ComplyAdvantage “The EU is even gearing up to regulate football clubs for AML/CFT. We should expect this to continue with more firms outside of financial institutions being regulated. “One area still not discussed enough is social media networks.

Romance Scams 91

Romance Scams Compliance Cross-Border AI 91

PYMNTS

NOVEMBER 9, 2020

Here’s the latest news from the technology industry, which is coming under increasing global scrutiny from governments and consumers. Regulation. EU Gears Up To Propose New Big Tech Regulations. Australian Regulator Looks Into Merger Law Changes.

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Regulations Privacy Compliance Laws 84

PYMNTS

MAY 25, 2018

As Europe’s General Data Protection Regulation (GDPR) comes into effect, Facebook privacy critic Max Schrems has filed four complaints over consent required to use online services. She said she will be asking her government for more resources and staff. Facebook, however, said it has prepared for GDPR for the past 18 months. “We

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Privacy Laws Regulations Rules 70

The Fintech Times

JULY 19, 2024

There used to be a lack of transparency, however, over the last couple of years, this has been sternly dealt with, resulting in more accurate news-sharing about ESG (environmental, social, governance) goals and how they are being met. However, he also goes on to note how data privacy and security can be challenging.

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FinTech Privacy Financial Inclusion Regulations 105

The Fintech Times

MAY 26, 2024

Central bank digital currencies (CBDCs), digital money regulated by a country’s central bank, are currently being tested across the world. ” Offering companies more options Riccardo Tordera , head of policy and government relations for the Payments Association , discusses the benefits a CBDC could bring to the UK. .”

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CBDC Central Bank Stablecoins Privacy 98

PYMNTS

FEBRUARY 16, 2020

Facebook is something in between a newspaper and a telecommunications company, said CEO Mark Zuckerberg , and he wants it to be regulated accordingly, The Wall Street Journal reported. And in comments made last March, he said he believes more regulation is needed on social media companies.

Regulations 52

Regulations Privacy Governance Government 52

VISTA InfoSec

SEPTEMBER 14, 2023

If your business engages with these customers, it is subject to the EU’s General Data Protection Regulation (GDPR). This extensive data privacy regulation has an impact on many U.S. The GDPR has a considerable influence on data privacy globally, but what does it mean for the US? entities due to its extraterritorial reach.

Compliance 130

Compliance Privacy Processors Legal 130

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. Other important data to consider: Regulators Open Banking Opportunities In Mexico Our optimism for Mexico’s potential is boundless. of households, while Internet penetration is 62.9%.

Financial Inclusion 147

Financial Inclusion FinTech Laws Regulations 147

PYMNTS

MARCH 30, 2020

California Consumer Privacy Act (CCPA), Washington Privacy Act (WPA) and other new privacy and online transaction standards are changing how businesses interact with consumers’ data in the U.S. Privacy conversations are old hat for retailers, Ahrens noted. Consumers And Privacy Changes .

Privacy 52

Privacy Rules CCPA Online and Mobile Banking 52

PYMNTS

OCTOBER 7, 2019

Big Tech has faced a number of inquiries growing in scope and scrutiny as lawmakers have been focused on competitive practices and efforts to ensure data privacy and protection. To that end, Congress is reportedly not likely to pass legislation that will focus on data protection.

Privacy 53

Privacy Consumer Financial Protection Bureau (CFPB) CFPB Laws 53

PYMNTS

DECEMBER 23, 2019

The same framework should be in place to improve technology used by regulators in efforts to strengthen supervision throughout the industry, the think tank also says. Yiping also believes the government should unite each financial regulatory body of data platforms to improve monitoring potential risk and ability to act faster on any problems.

Regulations 81

Regulations AI Finance Central Bank 81

The Fintech Times

OCTOBER 7, 2024

In September, the Australian government proposed the introduction of a ‘Scams Prevention Framework’ (SPF), which would implement new scam obligations across all sectors. The Bill, which would insert the SPF into the Competition and Consumer Act 2010, is expected to be introduced to the federal parliament in November.

Scams 52

Scams FinTech Laws AML 52

PYMNTS

MARCH 31, 2019

Facebook CEO Mark Zuckerberg wrote an opinion piece in The Washington Post calling on regulators to take a “more active role” in making rules for how to police the internet, according to reports. “By Facebook has been in the spotlight for its own problems with policing content and privacy for its users.

Regulations 60

Regulations Federal Trade Commission FTC Rules 60

PYMNTS

SEPTEMBER 6, 2016

government about its customers’ privacy rights and to what extent it is allowed/required to inform said customers of data requests from government officials. Amazon, Apple, Google and Mozilla have all filed an amicus brief to support Microsoft in its fight over the Electronic Communications Privacy Act (ECPA).

Privacy 40

Privacy Governance Government FBI 40

PYMNTS

SEPTEMBER 25, 2017

WeChat, the Chinese messaging app owned by Tencent, confirms it provides information about users to the Chinese government. In order to continue using the app, users must accept the privacy policy, which now states that a significant amount of data will be shared with the government in order to comply with laws and regulations.

Governance 56

Governance Government Consumer Privacy 56

PYMNTS

JANUARY 24, 2019

With concerns mounting over the use of facial recognition technology to monitor people and intrude on privacy, Microsoft Chief Executive Satya Nadella said he supports regulation of the technology. He noted that self-regulation is still very important but laws may be needed to prevent any harmful outcomes the technology could have.

Regulations 57

Regulations Privacy Laws Crime 57

PYMNTS

JULY 9, 2019

12, when Europe’s top court will give an opinion regarding Facebook privacy. The issue came to a head Tuesday (July 9) at the end of a Court of Justice of the European Union (ECJ) hearing capping a six-year saga pitting Facebook against Austrian privacy activist Max Schrems. Facebook isn’t alone in privacy scrutiny.

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Privacy Caps Rules Laws 40

Payments Dive

DECEMBER 21, 2018

Facebook is facing increased calls from privacy advocates, public officials and others for government regulation and investigation following new allegations of unauthorized data sharing.

Privacy 126

Privacy Governance Government Regulations 126

PYMNTS

JULY 9, 2019

12, when Europe’s top court will give an opinion regarding Facebook privacy. The issue came to a head Tuesday (July 9) at the end of a Court of Justice of the European Union (ECJ) hearing capping a six-year saga pitting Facebook against Austrian privacy activist Max Schrems. Facebook isn’t alone in privacy scrutiny.

Privacy 40

Privacy Rules Caps Laws 40

Global Fintech & Digital Assets

DECEMBER 18, 2023

The Proposal also excludes certain types of transactions, including the following: International payments or money transfers (e.g.,

CFPB 75

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

The Fintech Times

AUGUST 14, 2024

Perhaps unsurprisingly, regulations can struggle to keep up – leading to fresh calls for enhanced regulatory clarity regarding AI. In response to this, the American Fintech Council (AFC) sent a letter detailing its recommendations to develop regulations for AI and to increase clarity for industry participants.

Treasury 69

Treasury AI Innovation FinTech 69

Fintech News

JUNE 12, 2024

Theme 1: Establishing Optimal Governance and Interoperability Frameworks Effective governance and interoperability frameworks will be crucial for managing the complexities of cross-border payments. To make multilateral payment platforms work well, there need to be clear rules and ways for different systems to work together.

Cross-Border Payments 116

Cross-Border Payments Cross-Border Interoperability Payments 116

PYMNTS

NOVEMBER 12, 2019

China is planning to launch a digital currency in early 2020 that will make allowances for privacy, a senior central bank official said on Tuesday (Nov. The country is laying the groundwork to be the first nation to launch a digital currency and will balance privacy concerns with government oversight, Reuters reported.

Digital Currency 40

Digital Currency Privacy Central Bank NOV 40

PYMNTS

AUGUST 22, 2019

The push to offer more online privacy to increasingly concerned consumers continues. Google mentioned the idea of a “Privacy Sandbox,” which would let someone do some personalization on the web while keeping their privacy protected. That’s only the latest such move in recent days from companies that make up so-called Big Tech.

Privacy 46

Privacy Security Blocks Consumer 46

PYMNTS

MAY 1, 2017

To help button up its privacy offerings, Microsoft has made the decision to hire Julie Brill. In her new role at Microsoft, Brill will serve as the corporate vice president and deputy general counsel for the company’s Privacy and Regulatory Affairs group.

FTC 43

FTC Privacy Consumer Protection Legal 43

PYMNTS

NOVEMBER 28, 2018

Facebook could face coordinated regulation by nine countries after chief executive Mark Zuckerberg refused to be questioned by an international committee on fake news. According to a report in the Financial Times , members of parliament from Argentina, Brazil, Canada, Ireland, Latvia, Singapore, France, Belgium and the U.K.

Regulations 58

Regulations Governance Government Privacy 58