The Payments Association

OCTOBER 23, 2024

Firms with agents or distributors may require additional liquidity for safeguarding. Firms may be required to diversify their safeguarding providers. Enhanced reconciliation, audit, and reporting requirements will create additional administrative burdens and could increase the risk of supervisory and enforcement action.

Rules 88

Rules Payments Institute Authorization Reconciliation 88

The Fintech Times

FEBRUARY 12, 2024

As we approach the midpoint of February, the Abu Dhabi Global Market (ADGM) has been in the spotlight for celebrating achievements as well as penalising firms for breaching regulations. We are steadfast in our commitment to take regulatory action against practices intended to circumvent tax reporting.”

Distributed Ledger Technology (DLT) 57

Distributed Ledger Technology (DLT) Due Diligence Innovation Procedures 57

Neopay

APRIL 8, 2024

On March 12, 2024, HM Treasury announced its proposal for the Payment Services (Amendment) Regulations 2024. These new regulations aim to empower PSPs with more time to investigate transactions suspected of fraud or dishonesty, thereby enhancing the industry’s ability to combat fraud effectively. What are the proposed changes?

Service Provider 52

Service Provider Due Diligence Fraud Prevention Payments 52

Neopay

SEPTEMBER 2, 2024

With regulations constantly evolving, a monitoring plan ensures that businesses remain compliant and avoid any potential penalties or legal issues. Can a Compliance Monitoring Plan be used for more than just adhering to FCA regulations? With an increase in the number of reports required, it’s easy for businesses to fall behind.

Compliance 59

Compliance Regulatory Compliance Money Laundering Assessments 59

Fintech News

JULY 17, 2024

These figures underscore the immense challenge facing regulators and law enforcement agencies in their efforts to curb illicit financial flows in the crypto space. Transfers Just Under Reporting Thresholds The report highlights noticeable surges in transfers just below the US$1,000, US$3,000, and US$10,000 thresholds.

Money Laundering 101

Money Laundering Law Enforcement AML Non-Bank 101

The Fintech Times

SEPTEMBER 4, 2024

“However, the emergence of these technologies means that regulations to monitor their proper usage also crop up. One of the biggest challenges that compliance teams are facing is making sure their teams are staying on top of ever-changing regulations.

Compliance 62

Compliance Rules Regulations Cybersecurity 62

PYMNTS

NOVEMBER 26, 2019

The Prudential Regulation Authority (PRA), the supervisory arm of the Bank of England (BoE), has fined Citigroup a record-breaking $56.3 million for not completing accurate returns between 2014 and 2018, according to a report by Reuters. Citigroup said it corrected the issues as soon as it became aware of them.

Returns 76

Returns Audit Regulations Authorization 76

PYMNTS

MAY 29, 2017

regulators have taken note of the issue and have gradually made efforts to ease the financial pain for SMEs. Most recently, this culminated in the introduction of Duty to Report rules. The regulations came into effect last month, requiring large corporations to make their B2B payment practices public. In the U.K.,

Regulations 40

Regulations Small Business Payments B2B 40

PYMNTS

NOVEMBER 26, 2019

The Prudential Regulation Authority (PRA), the supervisory arm of the Bank of England (BoE), has fined Citigroup a record-breaking $56.3 million for not completing accurate returns between 2014 and 2018, according to a report by Reuters. Citigroup said it corrected the issues as soon as it became aware of them.

Returns 54

Returns Audit Regulations Authorization 54

PYMNTS

DECEMBER 17, 2019

In a move to prevent technology giants from having an unfair advantage, Japan is planning to increase regulations and demand transparency, Reuters reported on Tuesday (Dec. Amazon also questioned the reporting requirement. Facebook expressed concern that some rules were stricter than those in the European Union.

Rules 52

Rules Laws Regulations On-Demand 52

Nanonets

SEPTEMBER 23, 2023

Encumbrance Accounting in Different Sectors Encumbrance accounting is utilized differently in government, public sector, and non-profit organizations, with unique requirements and regulations to ensure transparent financial management.

Accounts 52

Accounts Governance Government Fraud Prevention 52

The Payments Association

OCTOBER 11, 2024

They include interim measures to improve compliance with current regulations (EMRs and PSRs) and a shift to a client assets sourcebook (CASS)-style regime where consumer funds are held on trust. The current safeguarding rules are based on the Payment Services Regulations 2017 (PSRs) and E-Money Regulations 2011 (EMRs).

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

PYMNTS

JANUARY 30, 2019

But regulators are now requiring firms to use risk-based policies and procedures to determine a customer’s risk scores and to use risk scores to establish a baseline for transaction and relationship monitoring. (The percentage may vary in different markets.).

Due Diligence 74

Due Diligence Verification Money Laundering FinTech 74

CB Insights

NOVEMBER 11, 2022

ESG reporting requirements. ESG REPORTING REQUIREMENTS. This can support firms’ reporting on progress to meet environmental, social, and governance (ESG) standards. Demand for ESG reporting is growing as investors, ratings agencies, and regulators push for firms to adopt ESG standards.

API 66

API Reporting Requirements Embedded Finance Laws 66

PYMNTS

DECEMBER 27, 2016

In case there’s curiosity about where those come from and how they get updated, here’s a clue: It’s not just the government. What we see a growing trend of is the trend for local posting requirements,” said Drenning. It’s a company called ComplyRight. That started to crop up three years ago.

Regulations 40

Regulations Laws Posting Small Business 40

Nanonets

JULY 25, 2023

Automation software reduces data entry and calculation errors, helping businesses meet the Government Accounting Standards Board requirements for reporting. Better Compliance and Governance: Automation helps enforce standardized processes and internal controls, supporting regulatory compliance.

Automation 52

Automation Compliance Process Governance 52

Stax

JANUARY 31, 2024

Compliance and Regulation: Changes in regulations or compliance requirements can also influence interchange rates. Stay informed through industry publications that discuss changes in interchange rates, regulations, and trends affecting payment processing. Industry: The type of business also affects interchange rates.

Credit Cards 88

Credit Cards Push-to-Card Processors Transactions 88

Nanonets

SEPTEMBER 21, 2023

From  technology  adoption to  compliance  with  regulations , we will delve into various strategies that can help businesses overcome  accounting  hurdles and achieve financial success. Non-compliance with Regulations Compliance with accounting regulations is essential to avoid legal issues and penalties.

Accounts 52

Accounts Audit Payroll Compliance 52

PYMNTS

SEPTEMBER 25, 2019

Regulators the world over are beginning to take a closer look at the alternative and marketplace lending business model. Also, in China, analysts at Yingcan Group pointed to the government’s P2P and marketplace lending crackdown as being likely to shrink the industry by as much as 70 percent this year. In the U.S., In June, the U.K.’s

Compliance 47

Compliance P2P Risk Management Regulatory Compliance 47

PYMNTS

OCTOBER 17, 2016

government’s latest efforts to combat late B2B payments to small suppliers fell short of what’s necessary. Reports Friday (Oct. His remarks follow the government’s publication of how the SME commissioner should tackle the matter, a proposal Cherry said doesn’t go far enough. billion [$32.6

Small Business 70

Small Business Payments Governance Government 70

The Fintech Times

DECEMBER 23, 2023

“Given the growing interest in ESG, as well as evolving environmental reporting requirements from various regulatory bodies, including the State of California and The International Sustainability Board (ISSB) , this gap in financial reporting is extremely concerning.

Finance 57

Finance Advisors Assessments Innovation 57

PYMNTS

MARCH 17, 2017

Companies are sharing leading practices and voluntarily working with regulators to help deter and detect financial reporting fraud,” said City Fornelli, executive director of the Center for Audit Quality, on behalf of the Anti-Fraud Collaboration. Institute of Internal Auditors President and CEO Richard F.

Best Practices 40

Best Practices Cybersecurity Audit Accounts 40

PYMNTS

SEPTEMBER 28, 2020

They also need to collect and verify vendors’ details to comply with anti-crime regulations, adhere to tax reporting requirements and deliver convenient digital payments to these suppliers. Corporate buyers that have gathered enough information on potential business partners then need to answer to regulators.

Enrollments 66

Enrollments Crime B2B Money Laundering 66

Global Fintech & Digital Assets

NOVEMBER 2, 2023

According to FinCEN, mixers are generally required to register with FinCEN if they do business as money transmitters wholly or in substantial part in the US. However, the NPRM states that “no CVC mixers are currently registered with FinCEN.” a description of observed activity, a summary of investigative steps taken, additional context, etc.)

Fincen 52

Fincen Money Laundering Law Enforcement Non-Bank 52

PYMNTS

SEPTEMBER 5, 2019

Governments rely on tax revenues to fuel the vital services they provide to residents and businesses – from firefighting and public education to water system repair and road maintenance. Retail sales taxes have long been key sources of state governments’ budgets and have been their greatest single stream of revenue since the mid-1900s. .

Compliance 46

Compliance Laws Rules Governance 46

Nanonets

NOVEMBER 29, 2023

This process is fundamental across various sectors and for a multitude of document types, including contracts, proposals, financial reports, and policy documents. The primary purpose of document approval is to ensure that all documents are accurate, complete, and in compliance with established standards and regulations.

Automation 52

Automation Compliance Legal Process 52

The Finance Weekly

OCTOBER 31, 2021

NPOs can be the subject of ongoing scrutiny due to public and government expectations. Financial planning for NPOs can be difficult, as certain issues will present unique challenges to you, such as specific reporting requirements. Provide the appropriate reports to your stakeholders.

Audit 52

Audit Accounts Finance Compliance 52

FICO

MAY 25, 2017

This is despite new reporting regulations being introduced this year to arrest the problem. This outlook comes at a significant point in time, with only five months to go until a new international standard is rolled out that governs how tax authorities in participating countries exchange data relating to the bank accounts of taxpayers.

APACS 40

APACS Compliance Authorization Reporting Requirements 40

PYMNTS

APRIL 28, 2016

The new idea being floated involves classifying marketplace lenders, who operate online and also offer smaller loans with set payments, as installment lenders that are under the CFPB’s jurisdiction and regulations. Many are also bound to reporting requirements with the SEC.

CFPB 40

CFPB Consumer Protection Regulatory Compliance FTC 40

FloQast

DECEMBER 13, 2023

Prior to the Sarbanes-Oxley Act (SOX), the last time we saw major changes in how public companies operate and report financial results was during the Great Depression. The lack of stock market regulations allowed for easy market manipulation and fraudulent activities. Enter the Sarbanes-Oxley Act (SOX) of 2002.

Compliance 52

Compliance Audit White Collar Crime Risk Assessment 52

Nanonets

JANUARY 17, 2024

This isn't just about pinching pennies; it's about strategic financial governance. With ever-changing regulations, managing compliance manually is like juggling dynamite. This is where many businesses stumble, struggling to keep up with ever-changing regulations and internal policies.

Payment APIs and Integration 52

Payment APIs and Integration Compliance Automation Audit 52

Nanonets

AUGUST 2, 2023

It helps to track the movement of goods, ensures border security, and allows the US Department of Commerce to regulate the flow of goods in and out of the country.   This includes items that are classified under the International Traffic in Arms Regulations (ITAR) or the "600 series" of the Commerce Control List.

Automation 52

Automation Regulations Compliance Legal 52

FICO

DECEMBER 15, 2020

In late October, the CFPB released Part 1 of its long-awaited update to the Fair Debt Collections Practices Act governing third-party collectors. On December 18, the Bureau issued a Part 2 final rule detailing disclosures for the collection of time-barred debt, changes to the validation notice, and furnisher credit reporting requirements.

BSA 52

BSA Suspicious Activity Report (SAR) Financial Inclusion AML 52

PYMNTS

JANUARY 20, 2017

The DoJ and Federal Trade Commission joined forces to impose the largest penalty ever lodged against a money transfer service and is part of a push from regulators to reach settlements in the last hours before Donald Trump takes presidential office. The government contends a lot of the money was sent to human smuggles from illegal immigrants.

Federal Trade Commission 40

Federal Trade Commission Money Laundering Settlement Scams 40

FICO

JANUARY 5, 2023

Open banking, BNPL, cybersecurity and AI will all be under the microscope for regulators and policymakers, but not all areas will see major action in 2023. VP, Government Relations. regulators take a major step in addressing the emerging open banking landscape. Policy Predictions for Financial Services Companies. FICO Admin.

BNPL 52

BNPL CFPB Consumer Financial Protection Bureau (CFPB) Privacy 52