Finextra

SEPTEMBER 12, 2024

As the national independent authority in Ireland, the Data Protection Commission (DPC) is responsible for protecting the personal data of individuals in the EU in accordance with GDPR, the EU's Law Enforcement Directive (LED) and Irish ePrivacy Regulations.

Law Enforcement 59

Law Enforcement Laws AI Authorization 59

Fintech News

OCTOBER 6, 2024

One major focus is on proactive prevention, where the IMC advocates for tighter regulations on corporate service providers and enhanced due diligence for non-financial sectors vulnerable to exploitation by money launderers. On effective enforcement, the IMC proposes strengthening the legislative tools available to law enforcement agencies.

Money Laundering 122

Money Laundering Law Enforcement Financial Crimes Due Diligence 122

PYMNTS

APRIL 1, 2020

“This legislation represents a significant breakthrough – the first time a state or nation has passed a new law devoted exclusively to putting guardrails in place for the use of facial recognition technology,” Smith said in the post. 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

Finovate

JULY 3, 2024

The USMS will use Coinbase Prime to centrally manage these Class 1 digital assets to facilitate various law enforcement activities. The USMS, a federal law enforcement agency within the Department of Justice, holds multiple roles within the U.S. judicial system. Photo by Zach Lisko on Unsplash The post U.S.

Law Enforcement 52

Law Enforcement Caps Laws Money Laundering 52

Finextra

APRIL 30, 2024

The Knoble, an alliance of financial service professionals, law enforcement, regulators, and NGOs dedicated to fighting Human Crime, is proud to welcome as its newest corporate member Featurespace, the world leader in enterprise Artificial Intelligence native technology that prevents fraud and financial crime.

Crime 59

Crime Law Enforcement Financial Crimes Laws 59

The Payments Association

OCTOBER 21, 2024

The UK’s increasing fraud and scam problem, focusing on new regulations mandating automatic reimbursement for APP fraud victims. Collaboration between regulators, law enforcement, and the counter-fraud community is needed to ensure the effectiveness of the reimbursement scheme and to mitigate emerging fraud risks.

Scams 88

Scams Law Enforcement Crime Fraud Prevention 88

Neopay

MARCH 15, 2024

HM Treasury has initiated an open consultation aimed at refining the Money Laundering Regulations (MLRs) to bolster their effectiveness while reducing burdens on legitimate customers. However, it highlights the need for technical adjustments to optimise effectiveness and ensure proportional application across regulated firms and customers.

Money Laundering 52

Money Laundering Consulting Treasury Regulations 52

Fintech News

AUGUST 25, 2024

OJK commissioner Agusman stated on 6 August that the regulator is closely monitoring Investree and coordinating with law enforcement to investigate the alleged fraud. He also noted that no capital injection from investors has been realized.

Legal 112

Legal Disputes Law Enforcement P2P 112

Payments Source

NOVEMBER 9, 2018

A new group aims to foster collaboration between fintechs and state and federal officials in the fight against crime — without hindering legitimate business innovation.

Law Enforcement 63

Law Enforcement Laws FinTech Crime 63

Fintech News

AUGUST 11, 2024

Focusing on four main pillars—Regulation and Development, Supervision and Law Enforcement, Licensing, and Information and Innovation—the roadmap outlines strategic objectives to foster a robust, inclusive, and sustainable IAKD sector.

Finance 112

Finance Law Enforcement Financial Literacy Innovation 112

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. The United Arab Emirates has amended Federal Decree-Law No. (20) billion in 2024.

Money Laundering 108

Money Laundering Law Enforcement AML Non-Bank 108

Payments Source

SEPTEMBER 20, 2019

The subset of digital assets dubbed privacy coins, which have long delighted libertarians and frustrated law enforcement, are feeling the pinch of a step up in regulation.

Privacy 106

Privacy Law Enforcement Laws Regulations 106

PYMNTS

FEBRUARY 21, 2020

It accomplishes that by threatening a critical immunity named Section 230 that firms have with federal law. The action is said to be the newest exhibit of how Washington lawmakers and regulators are taking another look at the need for incentives that had aided the growth of digital firms.

Encryption 83

Encryption Laws Best Practices Law Enforcement 83

Fintech News

DECEMBER 18, 2023

However, a small proportion of recent remittances faced freezes by Chinese law enforcement agencies, with unclear reasons behind these actions. The regulator said in a statement, “MAS has been actively engaging the remittance companies involved. Approximately 430 reports were against Samlit Moneychanger.

Rules 107

Rules Law Enforcement MFA Laws 107

The Fintech Times

SEPTEMBER 4, 2024

The UK’s Payment Systems Regulator (PSR) has announced a significant reduction in the maximum fraud reimbursement limit for authorised push payment (APP) scams, lowering it from £415,000 to £85,000 just weeks before new rules take effect in October. Rocio Concha, director of policy and advocacy at UK consumer body Which?,

Regulations 59

Regulations Scams Payments Caps 59

VISTA InfoSec

JUNE 21, 2023

Be sure to familiarize yourself with state laws, which your legal counsel will be able to help with. The Federal Trade Commission (FTC) recommends that companies notify law enforcement as soon as possible by contacting local FBI or U.S. Who you report the breach to can depend on the type of company and the scale of the impact.

Data Breach 130

Data Breach Breach Law Enforcement Cybersecurity 130

PYMNTS

JANUARY 27, 2020

Big Tech companies like Apple and Facebook have lately had a contentious relationship with regulators and lawmakers over issues like privacy, use of personal data and perceived bias. At times, the firms have pushed back against the idea that they need to be regulated. Other leaders in tech also spoke about the need for regulation.

Regulations 56

Regulations Law Enforcement Laws Privacy 56

Fintech News

FEBRUARY 21, 2024

The regulator is conducting an in-depth investigation through direct examinations of Investree, responding to recent concerns raised by the public. If violations are proven, the OJK said that it will take necessary actions, potentially collaborating with law enforcement officials.

Law Enforcement 117

Law Enforcement Audit Authorization Consumer Protection 117

Fintech News

MARCH 31, 2024

It complements the industry’s existing close collaboration with MAS and law enforcement authorities to combat financial crime. This will strengthen Singapore’s capabilities to uphold our reputation as a well-regulated and trusted financial centre.”

Financial Crimes 106

Financial Crimes Crime Money Laundering Law Enforcement 106

Neopay

SEPTEMBER 26, 2024

The charges mark the FCA’s first criminal prosecution relating to unregistered cryptoasset activity under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs). These are also the first charges brought against a person accused of running a network of crypto ATMs in the UK.

ATM 52

ATM Law Enforcement Money Laundering Payer 52

Fintech News

JUNE 3, 2024

In February, one of India’s law enforcement agencies uncovered a money laundering operation involving fake invoices issued by purported shell companies in Singapore for software and other services. The firm identified over 21 million risk activities across 472 million companies as of November 2023.

Money Laundering 123

Money Laundering Financial Crimes Crime APACS 123

PYMNTS

MAY 22, 2019

Members of Congress supported a plan to draft legislation aimed at the use of facial recognition software by law enforcement on Wednesday (May 22), according to reports. Facial recognition technology is accessible to one in four law enforcement agencies across the country, according to a study by Georgetown University Law Center.

Law Enforcement 53

Law Enforcement Regulations Laws Agreements 53

PYMNTS

AUGUST 14, 2020

China’s peer-to-peer (P2P) lending sector, once 6,000 businesses strong, has been reduced to fewer than three dozen as the government tightened regulations, leaving billions in loans unpaid. Regulators and law enforcement will try their best to recoup the money, he told China Central Television Friday (Aug.

P2P 126

P2P Law Enforcement Audit Non-Bank 126

PYMNTS

NOVEMBER 18, 2016

China’s recently launched cybersecurity law is getting the support of Alibaba and Tencent Holdings. The new law, which puts broad restrictions on technology companies in China, is aimed at removing cybersecurity threats from industries it deems critical and at fighting terrorism, reported Fortune.

Cybersecurity 69

Cybersecurity Laws Law Enforcement Central Bank 69

PYMNTS

JUNE 14, 2019

The new law puts the responsibility on companies making the technology to make sure the cars are safe and don’t cause accidents. Florida is now the third state to pass such a law, behind Texas and Michigan. Drivers inside the cars, though, do not have to adhere to Florida’s cellphone ban while behind the wheel.

Laws 61

Laws Law Enforcement Risk Innovation 61

The Fintech Times

APRIL 3, 2024

“It complements the industry’s existing close collaboration with MAS and law enforcement authorities to combat financial crime. This will strengthen Singapore’s capabilities to uphold our reputation as a well-regulated and trusted financial centre.”

Financial Crimes 59

Financial Crimes Crime Money Laundering Law Enforcement 59

Neopay

SEPTEMBER 26, 2024

Read GC24/5 (PDF) Why we’re consulting The Treasury has proposed amendments to the Payment Services Regulations (PSRs 2017) to enable Payment Service Providers (PSPs) to delay making a payment transaction where they have reasonable grounds to suspect fraud or dishonesty. Our consultation closes on 4 October 2024.

Process 52

Process Risk Law Enforcement Consulting 52

PYMNTS

OCTOBER 11, 2018

The People’s Bank of China has announced new anti-money laundering (AML) and counter-terrorism financing regulations for online financial institutions (FIs). The report comes after a group of Icelandic thieves recently stole 600 computers used to “mine” bitcoin in what local law enforcement called the biggest theft in the nation’s history.

Central Bank 43

Central Bank AML Money Laundering Regulations 43

PYMNTS

DECEMBER 18, 2020

The new regulations, if adopted after a comment period, would require banks and some other institutions to obtain and report the identities of parties engaging in certain digital transactions, including payments involving what are called "unhosted wallets" – effectively secret bank accounts that hold cryptocurrency.

Treasury 141

Treasury Rules Bitcoin Ransomware 141

Innovative Payments Association

FEBRUARY 14, 2024

As artificial intelligence worms its way into more aspects of our lives, laws and regulations governing its use will become necessary. We can’t uninvent technology, so the only thing that protects us from the worst aspects of it are the agreements that we make as a society – namely laws and regulations.

AI 52

AI Law Enforcement Laws Database 52

PYMNTS

NOVEMBER 20, 2019

The company said the requests, largely from law enforcement authorities, pose a challenge. . regulators and 1.8 million users to Canadian regulators. Uber also said that despite the rise in requests from law enforcement, it “has not received a national security request.” .

Law Enforcement 46

Law Enforcement Privacy Laws Governance 46

PYMNTS

SEPTEMBER 24, 2020

AUSTRAC, the country’s financial regulator, announced the deal on Thursday (Sept. 24), noting that Westpac had violated anti-money laundering (AML) and terrorism financing regulations more than 23 million times. Australian banking giant Westpac has agreed to a massive fine of $920 million ($1.3

Regulations 46

Regulations Money Laundering Due Diligence Law Enforcement 46

PYMNTS

JUNE 18, 2020

This not only improves responsible gaming efforts by equipping customers with digital tools to help them monitor their gaming and set limits, but also provides operators, regulators, and law enforcement increased transparency into matters of anti-money laundering and monitoring of financial transactions,” the AGA said.

Law Enforcement 66

Law Enforcement Money Laundering Laws Digital Payments 66

VISTA InfoSec

JULY 17, 2024

Navigate legal and regulatory frameworks Dealing with laws and rules about cybersecurity in different countries is a must. Think about the various regulations around the world. You need to know these laws well because they affect how you manage cybersecurity when dealing with multiple languages.

Cybersecurity 186

Cybersecurity Compliance Encryption Best Practices 186

The Payments Association

OCTOBER 28, 2024

Collaboration with law enforcement and the Government The report stresses the importance of ongoing collaboration between financial institutions, regulators, and law enforcement. The report notes that while these rules are crucial for victim compensation, prevention remains the ultimate goal.

Scams 88

Scams Push-to-Card Fraud Detection Online and Mobile Banking 88

PYMNTS

MARCH 20, 2020

The policy being drafted by India’s trade ministry also calls for a new regulator to provide oversight and enforce compliance. The regulator will have the authority to request information from tech firms and also enforce other Indian laws aimed at consumer protection and fair competition, the sources said.

Rules 73

Rules Law Enforcement Laws Regulations 73

Fintech Finance

JUNE 20, 2024

The center will offer comprehensive training for law enforcement and industry professionals to combat modern financial crimes effectively. Collaborative Research and Policy Development: Engaging in joint research initiatives and policy formulation to enhance the understanding and regulation of financial crime.

Financial Crimes 86

Financial Crimes Crime FBI Law Enforcement 86