PYMNTS

DECEMBER 17, 2019

Japanese officials passed a bill that calls on eCommerce sites and app stores – including Amazon , Apple and Google – to file governmental reports about their operations. “We The new law constitutes a framework for ‘platformers’ to make autonomous efforts to maintain transparency and fairness,” he added.

Rules 52

Rules Laws Regulations On-Demand 52

Innovative Payments Association

AUGUST 29, 2024

This means that banks must adhere to federal regulations, such as the Bank Secrecy Act and anti-money laundering laws, when working with cannabis businesses. These should outline the company's compliance obligations, reporting requirements, and internal controls.

Cannabis Banking 52

Cannabis Banking Boot Camp Compliance Money Laundering 52

PYMNTS

NOVEMBER 26, 2019

The regulator said the data it received from Citigroup was not acceptable, and the way the bank handled the reporting processes was not effective. Banks have to regularly report financial data to make sure they’re operating within the law, and to make sure they have buffers against market shifts in terms of risk and capital.

Returns 54

Returns Audit Regulations Authorization 54

PYMNTS

DECEMBER 3, 2019

The BSA establishes recordkeeping and reporting requirements for national banks, federal savings associations, federal branches and agencies of foreign banks. It was amended to include the Patriot Act, which requires every bank to adopt a customer identification program.

Suspicious Activity Report (SAR) 55

Suspicious Activity Report (SAR) BSA Rules Office of the Comptroller of the Currency 55

The Fintech Times

JULY 31, 2024

The evolving nature of fintech regulations requires platforms to be agile, constantly updating their compliance strategies to align with new laws and guidelines. “Adhering to stringent data protection laws is a primary challenge.

Compliance 64

Compliance AML Regulations Due Diligence 64

The Fintech Times

SEPTEMBER 4, 2024

.” ‘Headache’ over new rules “From a data privacy and cybersecurity perspective, I think the greatest challenge for compliance teams currently is keeping abreast of all the legislation, rules and regulations applicable to their organisation,” says Sarah Pearce , partner at law firm Hunton Andrews and Kurth.

Compliance 64

Compliance Rules Regulations Cybersecurity 64

PYMNTS

FEBRUARY 15, 2018

Bank knowingly breached the Bank Secrecy Act’s reporting requirements by not creating and implementing a good enough anti-money laundering (AML) program. The bank was charged with failing to flag suspicious activity and inadequately reporting currency transactions. “ Since 2011, FinCEN claimed U.S. Blanco in the press release.

Money Laundering 43

Money Laundering Fincen Office of the Comptroller of the Currency Settlement 43

PYMNTS

SEPTEMBER 4, 2019

Navigating these laws is easier said than done. Walmart.com is currently undergoing a legal dispute with a Louisiana parish because it didn’t report or remit the sales tax for sales made by third-party retailers through its online marketplace. South Dakota ruling that sought to level the playing field for brick-and-mortar stores.

Third Party Vendors 51

Third Party Vendors Laws Facilitators Small Business 51

PYMNTS

AUGUST 20, 2018

via Coinbase, was closed – and the activity in Hong Kong allegedly was to avoid reporting certain information as required by law. In another allegation against Burrell, he evaded reporting requirements by attempting to smuggle as much as $1 million from Mexico into the U.S.

Money Laundering 41

Money Laundering Bitcoin Legal Framework Laws 41

FICO

OCTOBER 12, 2017

But when the exact nature of the law is still being decided and the consequences of PSD2 are still unclear, where should you start? All payment service providers will need to use Transaction Risk Monitoring to deliver the reporting required by the regulation.

Authentication 56

Authentication Service Provider Risk Transactions 56

PYMNTS

AUGUST 14, 2019

The data that casinos have the power to feed into the system under Banking Secrecy Act reporting requirements in the form of suspicious activity reports (SARS), he noted, not only has the power to keep the work of legal gambling a transparent and compliant place.

Fincen 65

Fincen Financial Crimes Crime Suspicious Activity Report (SAR) 65

FloQast

OCTOBER 27, 2023

Changing nature of business : Because of the changing nature of business and the business environment, compliance officers deal with more complex supply and distribution channels, increasing sophistication of fraud, and a complex labyrinth of laws and reporting requirements.

Compliance 52

Compliance Best Practices Mitigation Procedures 52

Neopay

SEPTEMBER 2, 2024

In today’s regulatory environment, compliance is not just about ticking boxes; it’s about ensuring your business operates within the law and meets all necessary standards. A Compliance Monitoring Plan helps you stay on top of regulatory requirements by systematically assessing your entire business operations.

Compliance 59

Compliance Regulatory Compliance Money Laundering Assessments 59

PYMNTS

SEPTEMBER 5, 2019

The Supreme Court said South Dakota’s law had prevented undue burden from being placed on SMBs that had only minor economic participation. Several states also have marketplace facilitator laws that make online platforms responsible for handling sales taxes for sellers. Continued Changes and Questions . partners. .

Compliance 46

Compliance Laws Rules Governance 46

PYMNTS

DECEMBER 27, 2016

There are signs throughout every company — in the break room, in the bathroom, near a time clock — all to disseminate information about federal, state and even local laws. It prints and distributes the signs and posters that help simplify and relay communications related to employment laws in the work environment.

Regulations 40

Regulations Laws Posting Small Business 40

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

PYMNTS

JANUARY 3, 2020

In an interview with PYMNTS, Liz Armbruester, senior vice president of Global Compliance at Avalara , said 2019 represented a watershed year for tax compliance as states embraced the economic nexus model and passed marketplace facilitator laws. Other states are tinkering with laws already in place post-Wayfair.

Posting 53

Posting Cross-Border Compliance Facilitators 53

PYMNTS

APRIL 28, 2016

As of right now, marketplace lenders have no direct federal supervisor, though they are still subject to FTC and CFPB consumer protection laws. Many are also bound to reporting requirements with the SEC.

CFPB 40

CFPB Consumer Protection Regulatory Compliance FTC 40

Global Fintech & Digital Assets

NOVEMBER 2, 2023

While legitimate and responsible market participants may choose to use such services for increased privacy, they remain an attractive resource for those seeking to maximize anonymity, launder illicit funds or stolen digital assets, or evade law enforcement and sanctions.

Fincen 52

Fincen Money Laundering Law Enforcement Non-Bank 52

PYMNTS

MAY 22, 2018

That change would become effective 18 months after the bill is enacted — though the SIFI designation immediately lift for banks with assets under $100 billion, according to a Height Research report by Ed Groshans, senior vice president at the firm. As of late Tuesday afternoon, the bill, which has passed the U.S.

Regulations 40

Regulations Credit Union Community Banks FDIC 40

Nanonets

SEPTEMBER 23, 2023

By automating tax calculations and generating reports, accounting software streamlines the process of preparing and filing tax returns. With built-in tax features and up-to-date tax regulations, the software helps businesses stay compliant with tax laws and avoid costly errors.

Small Business 52

Small Business Accounts Automation Compliance 52

FloQast

APRIL 12, 2024

This section provides the name of the law firm that approved the legality of your registration statement. It also identifies any underwriter with a material relationship with the company and the nature of that relationship. Interests of named experts and counsel. Information with respect to the registrant.

Underwriting 52

Underwriting Indemnification Due Diligence Legal 52

PYMNTS

SEPTEMBER 25, 2019

Industry players will continue to face tighter regulations, but according to Kim Wales, founder and CEO of CrowdBureau , a company that aggregates marketplace lending industry data to establish performance and risk management benchmarks, operating within the confines of the law is a complicated task for this sector.

Compliance 47

Compliance P2P Risk Management Regulatory Compliance 47

FICO

OCTOBER 26, 2017

As a result, financial institutions had to set up new processes, and most of the software vendors did not enhance their FATCA compliance solutions to cover the CRS reporting requirements. The more AEoI changed to simplify the process, the greater the difference grew between both initiatives. Life did not get easier.

Compliance 53

Compliance IRS Agreements Audit 53

FloQast

MARCH 12, 2024

However, there are significant accounting and reporting requirements associated with this structure, so it’s crucial to discuss the decision with your tax advisor, IPO advisor, and legal counsel. This allows pre-IPO investors to maintain flow-through tax benefits, ensure liquidity, and retain control.

Advisors 52

Advisors Due Diligence Audit Legal 52

Nanonets

AUGUST 2, 2023

This system is designed to streamline the export reporting process, improve trade statistics, and ensure compliance with US export laws. Before implementing the Automated Export System, exporters were required to fill out a paper SED form for each international shipment. What is the Shipper's Export Declaration?

Automation 52

Automation Regulations Compliance Legal 52

Nanonets

SEPTEMBER 21, 2023

Businesses must stay updated with the latest regulations and ensure adherence to reporting requirements, tax laws, and industry-specific guidelines. To overcome  payroll errors , businesses should adopt comprehensive payroll management systems that automate calculations and ensure compliance with tax laws.

Accounts 52

Accounts Audit Payroll Compliance 52

FloQast

DECEMBER 13, 2023

As we’ll learn in the following section, the Sarbanes-Oxley Act became law in 2002 in response to a series of corporate financial scandals. SOX compliance is structured to be two-pronged and encompasses guidelines regarding corporate responsibility for financial reports and adequate internal financial controls.

Compliance 52

Compliance Audit White Collar Crime Risk Assessment 52

Nanonets

FEBRUARY 9, 2024

In general, though, everyday ICFR activities include transaction approval requirements, employee duty separation, tracking, monitoring software, and even something as basic as double-checking calculations.   The act requires companies to develop, publish, audit, and actively use their ICFR.    What is SOX?

Audit 52

Audit Risk Assessment Assessments Procedures 52

EBizCharge

SEPTEMBER 6, 2024

These features automatically calculate and apply the correct tax rates based on the location of the transaction, ensuring that businesses remain compliant with local, state, and federal tax laws. By automating tax calculations, businesses reduce the risk of errors that can lead to costly penalties and audits.

Accounts 52

Accounts CRM Automation Audit 52

Nanonets

JANUARY 17, 2024

Regulatory Compliance – Don’t Mess with The Law : Automated expense management ensures that you're always on the right side of the law, avoiding costly legal pitfalls. This could mean adapting to new tax laws, accommodating emerging expense categories like remote work setups, or integrating new technology solutions.

Payment APIs and Integration 52

Payment APIs and Integration Compliance Automation Audit 52

FICO

DECEMBER 15, 2020

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. to report their beneficial owners to FinCEN. Even by Washington standards, this bill is massive topping 4,500 pages.

BSA 52

BSA Suspicious Activity Report (SAR) Financial Inclusion AML 52

PYMNTS

JANUARY 20, 2017

government said it found hundreds of millions of dollars was being transferred to China in transactions that are created to get around the reporting requirements under federal bank laws. In the complaint, the U.S. The government contends a lot of the money was sent to human smuggles from illegal immigrants. citizens.

Federal Trade Commission 40

Federal Trade Commission Money Laundering Settlement Scams 40

FICO

JANUARY 5, 2023

However, some have questioned whether the same consumer protection laws apply to all BNPL activity. Other companies offer BNPL as a traditional long-term installment loan, which are subject to a number of consumer financial protection laws. Meaningful Developments but No Federal Privacy Law or AI Regulations.

BNPL 52

BNPL CFPB Consumer Financial Protection Bureau (CFPB) Privacy 52

PYMNTS

DECEMBER 28, 2016

“In 2017, we will see the fate of the new FLSA overtime rule and the impact the updated reporting requirements for net asset clarifications and the additional disclosure information that will be needed,” the company said.

FinTech 59

FinTech Rules Regulations Payroll 59