Payments Source

MAY 16, 2018

A long-anticipated financial rule could help law enforcement root out illegal activity, but it requires banks to keep extra-close tabs on certain business clients. That won't be easy.

Fincen 62

Fincen Rules Law Enforcement AML 62

VISTA InfoSec

JULY 17, 2024

Overcoming language barriers and security vulnerabilities Talking to people in a language they understand makes it easier for them to follow security rules. Navigate legal and regulatory frameworks Dealing with laws and rules about cybersecurity in different countries is a must.

Cybersecurity 238

Cybersecurity Compliance Encryption Best Practices 238

Payments Source

JULY 11, 2019

A Spanish effort to prosecute a gang that used Bitcoin automated cash machines suspected of being a front for illegal-drug payments has exposed a hole in European anti-money-laundering controls, law enforcement authorities in the country said.

Money Laundering 92

Money Laundering Bitcoin Law Enforcement ATM 92

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

VISTA InfoSec

OCTOBER 21, 2024

Overcoming language barriers and security vulnerabilities Talking to people in a language they understand makes it easier for them to follow security rules. Navigate legal and regulatory frameworks Dealing with laws and rules about cybersecurity in different countries is a must.

Cybersecurity 130

Cybersecurity Compliance Encryption Best Practices 130

PYMNTS

MAY 14, 2020

Brian Huseman, a vice president of public policy at Amazon, said in a blog post that each of the nation’s states have different rules when it comes to price gouging. The disparate standards among states present a significant challenge for retailers working to assist law enforcement, protect consumers, and comply with the law,” Huseman wrote.

Laws 57

Laws Federal Trade Commission Law Enforcement FTC 57

PYMNTS

MARCH 1, 2020

The facial recognition app Clearview AI was banned from Apple ’s developer program after allegedly violating the iPhone maker’s rules, Buzzfeed News reported on Friday (Feb. Analysis by BuzzFeed News of Clearview AI’s app for Apple’s mobile operating system discovered that Clearview broke rules about the distribution of its apps.

Law Enforcement 60

Law Enforcement AI Blocks Laws 60

The Fintech Times

SEPTEMBER 30, 2024

UK law enforcement, in particular, faces challenges in tackling fraudsters based overseas due to geographical and legal constraints. International cooperation The report emphasises the global nature of fraud, with criminal networks often operating across borders, making it difficult for individual nations to respond effectively.

Law Enforcement 58

Law Enforcement Cross-Border Fraud Prevention Crime 58

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. This marks a step forward for China.

Cybersecurity 69

Cybersecurity Laws Law Enforcement Central Bank 69

PYMNTS

SEPTEMBER 22, 2016

The Russian Federal Security Service and the Ministry of Communications is getting more involved in the internet business game, with Forbes reporting the two agencies in Russia will adopt rules that enable them to decrypt code by internet service providers and search engines. Google, Yandex, Mail.ru The report noted U.S.

Rules 58

Rules Law Enforcement Encryption Laws 58

PYMNTS

FEBRUARY 11, 2020

The Department of the Treasury Financial Crimes Enforcement Network (FinCEN) has issued a new ruling on the reporting of currency transactions for sole proprietorships and legal entities operating under a “Doing Business As” (DBA) name, according to a Monday (Feb. Those rules were based on FinCEN Form 104, which is now obsolete.

Fincen 52

Fincen Rules Transactions Law Enforcement 52

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)

Money Laundering 106

Money Laundering Law Enforcement AML Non-Bank 106

VISTA InfoSec

SEPTEMBER 15, 2023

This Act, which supersedes Section 43A of the IT Act, 2000 and the SPDI Rules, 2011, brings about considerable changes to the norms of data protection. The DPDP Act is lean and principle-based, with details around implementation to be set out in future rules. For upholding public order and ensuring safety. Clause 10(2)(a) DPDP Act.)

Data Breach 130

Data Breach Breach Government Governance 130

Payments Source

SEPTEMBER 30, 2018

Visa also works with law enforcement agencies to quantify potential losses and, where possible, assist in the threat mitigation. Visa is pursuing the online criminals to prevent future fraud.

Law Enforcement 106

Law Enforcement Mitigation Laws Payment Networks 106

PYMNTS

MARCH 8, 2020

A French court has decided that bitcoin is money, the first time a court in France has issued such a ruling, according to a report from Les Echos Sunday (March 8). The result of the ruling could lead to more activity in the French bitcoin market. This ruling could encourage more activity in the French Bitcoin market.

Bitcoin 112

Bitcoin Law Enforcement Cryptocurrency Rules 112

The Payments Association

OCTOBER 28, 2024

One of the key shifts in APP fraud this year involves the introduction of new reimbursement rules , which came into effect in October 2024. Collaboration with law enforcement and the Government The report stresses the importance of ongoing collaboration between financial institutions, regulators, and law enforcement.

Scams 88

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

PYMNTS

NOVEMBER 30, 2020

The appeals court upheld Yancheng’s lower-level district court’s ruling, which was announced on Sept. 22, noting that "the seized digital currencies will be processed pursuant to laws and the proceeds and gains will be forfeited to the national treasury," reported The Block, citing the ruling. billion) from more than 2.6

Bitcoin 67

Bitcoin Law Enforcement Blocks Cryptocurrency 67

PYMNTS

FEBRUARY 20, 2020

Because of the change, data and privacy will leave the data of tens of millions of people under less protection, and it will be subject to more scrutiny by British law enforcement. companies, is staying in the EU and will keep some of the EU’s famously stringent data protection rules, the General Data Protection Regulation.

Privacy 56

Privacy Law Enforcement Laws Rules 56

PYMNTS

AUGUST 14, 2020

Regulators and law enforcement will try their best to recoup the money, he told China Central Television Friday (Aug. as Chinese firms rush to go public before tough new federal disclosure rules go into effect. regulators, a move that would put the firms in conflict with secrecy laws in China. 14), per the report.

P2P 126

P2P Law Enforcement Audit Non-Bank 126

PYMNTS

AUGUST 14, 2018

14) put forth a new law that would call on technology companies, including Apple, to provide access to encrypted data if they receive a warrant. According to a report in 9to5Mac , failure to comply with the rule would result in fines as high as $7.3 The Australian government on Tuesday (Aug. million and the potential for jail time.

Encryption 40

Encryption Rules Law Enforcement Laws 40

PYMNTS

AUGUST 4, 2016

According to a statement from Tarabella, Tinder breaches the EU’s rules when it comes to data protection because it encourages its users to agree to unclear clauses concerning how their personal data will be used, even once their accounts with the dating app are closed. The lack of transparency cannot be the rule,” Tarabella said.

Laws 41

Laws Law Enforcement Rules Authorization 41

Fintech Finance

JULY 11, 2024

The letter communicates the association’s non-bank members’ concerns that the Payment Systems Regulator’s (PSR) policy rules will undermine competition, stifle innovation, reduce investment, and force smaller players to a disorderly exit from the UK.

Treasury 66

Treasury Law Enforcement Payments Non-Bank 66

PYMNTS

NOVEMBER 11, 2020

The stock fell after the Chinese government announced new antimonopoly rules that will increase the pressure on eCommerce marketplaces and payments services. According to news site TechNode, the new rules will apply physical-economy statutes to the digital-first economy. percent drop in its stock on the Hong Kong Stock Exchange.

Regs 95

Regs NOV Law Enforcement Economy 95

PYMNTS

OCTOBER 1, 2020

Mitiga is working with law enforcement after uncovering a widespread business email compromise (BEC) scam that has netted more than $15 million. Mitiga also said in the post that it recommends safeguards for companies that could have been affected.

Business Email Compromise 73

Business Email Compromise Scams Email Compromise Wire Transfer 73

Global Fintech & Digital Assets

NOVEMBER 2, 2023

A proposed rule would increase Treasury’s insight into non-US crypto mixing transactions to combat illicit activities by malicious actors. However, “the incremental burden of the rule is expected to be lowest for these entities because it imposes the least adaptation from current compliance practices and processes.”

Fincen 52

Fincen Money Laundering Law Enforcement Non-Bank 52

PYMNTS

AUGUST 11, 2016

Treasury Department’s Financial Crimes Enforcement Network spokesman Stephen Hudak said the rule is being reworked and could be resubmitted in 2017. The proposed rule called for money stored on prepaid cards to count toward the requirement on the part of the U.S. It’s not dead,” the spokesman told Reuters. In 2009, the U.S.

Money Laundering 46

Money Laundering Rules Cross-Border Financial Crimes 46

PYMNTS

OCTOBER 11, 2018

According to Reuters , the new rules — which take effect on Jan. 1 — order institutions to set up internal control mechanisms for preventing money laundering and terrorism financing, following know your customer (KYC) rules, and reporting large and suspicious transactions quickly.

Central Bank 43

Central Bank AML Money Laundering Regulations 43

PYMNTS

JULY 15, 2020

In other news, cryptocurrencies have no way to abide by proposed new rules in numerous U.S. The LAED Act would end encrypted communications, giving law enforcement a backdoor to access the data with a court order. He said per the report that a win in the case would let other recipients of the letter do the same thing.

IRS 61

IRS Encryption Privacy Law Enforcement 61

PYMNTS

JANUARY 13, 2020

It’s a new year, and in Europe, an expansion of scrutiny and laws governing data sharing. The dawn of 2020 brought a spate of new rules governing data collection and use. And, as has been reported, breaching these rules means companies may be fined by the EU the equivalent of up to 4 percent of revenues.

Bots 52

Bots Consumer Financial Protection Bureau (CFPB) Regulations CFPB 52

PYMNTS

JANUARY 14, 2021

“The apps that were found to violate our user safety policies were immediately removed from the Store, and we have asked the developers of the remaining identified apps to demonstrate that they comply with applicable local laws and regulations,” Google India said in a Thursday (Jan. 14) blog post.

Law Enforcement 60

Law Enforcement Laws Privacy Governance 60

PYMNTS

OCTOBER 1, 2018

An Apple iPhone X user was forced by law enforcement to unlock his phone with his face. According to Forbes , the case is a significant moment in the fight between law enforcement and technology companies to access data that is often secured thanks to the security protections the tech companies embedded in their digital devices.

FBI 44

FBI Law Enforcement Laws Legal 44

FICO

APRIL 8, 2021

By using an intermediary, “when law enforcement gets involved, there’s an innocent third party in the middle who didn’t realize they were taking part in a criminal enterprise” headed by a ringleader who’s impossible to track down. A Local Twist on a Global “Secret Shopper” Scam.

Law Enforcement 72

Law Enforcement Scams Crime Credit Cards 72

Neopay

JULY 18, 2024

Sub-Saharan Africa: This region suffers from high money laundering risk due to corruption, poor transparency, and weak rule of law. The Act mandates beneficial ownership reporting and enhances the ability of law enforcement to track and prosecute laundering cases.

Money Laundering 52

Money Laundering AML Crime Cryptocurrency 52

PYMNTS

MAY 21, 2019

Allied Wallet was accused of processing payments for firms that were known by law enforcement agencies as fraudulent, such as Stark Law, a debt collection scheme; TelexFree, a pyramid scheme; and MOBE and Digital Altitude, business coaching schemes that told customers they would make a large amount of extra income.

FTC 76

FTC Federal Trade Commission Law Enforcement Scams 76

The Fintech Times

MAY 30, 2024

As regulatory and law enforcement agencies across the globe are doggedly seeking to assert jurisdiction over the crypto industry, many companies have come under intense scrutiny in recent years due to many cases of compliance violations. Nataly Medici , chief financial officer of neobank Keytom explores what firms can do.

Compliance 63

Compliance Security Legal Blockchain 63

PYMNTS

MAY 28, 2018

The executive also said he has close ties to the Rashtriya Swayamsevak Sangh, a right-wing Hindu nationalist organization that is seen as the ideological head of India’s ruling Bharatiya Janata Party. In response to the report, Paytm said on Friday (May 25) that it did not share user data with law enforcement agencies based on a request.

Government 43

Government Governance Law Enforcement Laws 43

PYMNTS

MARCH 4, 2020

Bank had in place erroneously capped the number of alerts, which hindered law enforcement’s ability to spot suspicious activity. His actions prevented the proper filing of many, many SARs, which hindered law enforcement’s ability to fully combat crimes and protect people,” said FinCEN Director Kenneth A.

AML 52

AML Suspicious Activity Report (SAR) Fincen BSA 52