Neopay

NOVEMBER 27, 2023

These ‘travel rule’ Guidelines specify the steps that Payment Service Providers (PSPs), Intermediary PSPs (IPSPs), crypto-asset service providers (CASPs) and Intermediary CASPs (ICASPs) should take to detect missing or incomplete information that accompanies a transfer of funds or crypto-assets.

Money Laundering 52

Money Laundering Consulting Finance AML 52

Neopay

JULY 18, 2024

Nordic Region: Countries like Finland, Sweden, Iceland, and Norway rank among the lowest for laundering risk, thanks to stringent regulations and innovative solutions. Sub-Saharan Africa: This region suffers from high money laundering risk due to corruption, poor transparency, and weak rule of law.

Money Laundering 52

Money Laundering AML Crime Cryptocurrency 52

PYMNTS

APRIL 12, 2019

The General Data Protection Regulation (GDPR) represented a new phase in data security and EU regulators’ approach to it. “If the data controller implicitly trusts a data processor simply because there is a consistent legal framework in place, criminal abuse of trust will always take place.”

Cybersecurity 77

Cybersecurity Data Breach Legal Framework Breach 77

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. This includes harmonising regulations across jurisdictions, sharing intelligence, and conducting joint operations.

Money Laundering 106

Money Laundering Law Enforcement AML Non-Bank 106

FICO

MAY 13, 2021

Last month, the European Commission issued a new legal framework for AI , designed to make the European Union a centre of excellence for trustworthy AI. The new rules divide AI systems into different categories of risk (based on the impact of an error in the AI system) and impose restrictions and requirements based on that risk.

AI 52

AI Legal Framework Risk Compromise 52

Segpay

MAY 1, 2024

DORA entered into force on January 16th, 2023, and its legal implementation deadline is January 17 th , 2025. The Act will help regulators to identify and investigate financial crime more effectively. Contracts: DORA sets rules for contractual standards when outsourcing to critical ICT third-party providers (CTTPs).

Compliance 52

Compliance Cybersecurity Procedures Risk Management 52

PYMNTS

JANUARY 31, 2018

Though Mastercard and Visa have dropped similar practices, tied to a settlement with the Justice Department struck in 2010, Amex has held onto those rules. District Court judge ruled that the Amex practices violated federal antitrust laws. Following that ruling, the States asked the Supreme Court to hear the case.

Rules 40

Rules Credit Cards Legal Legal Framework 40

FICO

JUNE 19, 2023

In part this is due to banks’ interpretation of data protection rules. Both are within the same legal framework, but the perception of what is allowed and what is not is different. Both are within the same legal framework, but the perception of what is allowed and what is not is different.

Automation 52

Automation Legal Framework Legal Consulting 52

Clearly Payments

FEBRUARY 8, 2024

To ensure the smooth operation of this system and protect the interests of all stakeholders, a robust regulatory framework is in place. This article aims to provide an in-depth overview of the key regulatory organizations, payment regulations, and prevailing trends that shape payment regulation in the USA.

Regulations 87

Regulations Electronic Fund Transfer Act (EFTA) Federal Reserve Electronic Funds Transfer (EFT) 87

PYMNTS

SEPTEMBER 11, 2019

“Under that three-part test, arguably the highest bar is that a company must prove that contractors are doing work ‘outside the usual course’ of its business,” Tony West, Uber’s chief legal officer, said on a call with reporters. Lyft spokesperson Adrian Durbin had slightly more pointed words about the new law.

Economy 65

Economy Laws Legal Framework Legal 65

Stax

JANUARY 15, 2024

Surcharging involves understanding federal laws, state-specific restrictions, and international regulations. PCI DSS compliance, a global framework, mandates specific requirements and best practices for maintaining credit card data security. In case of ambiguities, don’t hesitate to consult with state regulators.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

Nanonets

SEPTEMBER 22, 2023

The bots follow predefined rules and procedures, minimizing the risk of human error. Furthermore, RPA ensures accuracy by following predefined rules and algorithms, minimizing the likelihood of mistakes. The software robots work consistently and tirelessly, adhering to the established rules and making accurate calculations every time.

Automation 40

Automation Accounts Process Reconciliation 40

Segpay

AUGUST 20, 2024

China: Pioneering Stringent Measures Well known for its heavy state control, it shouldn’t be a surprise that China stands at the forefront of age verification regulations in Asia. Strict Gaming Regulations : China has implemented stringent regulations for online gaming. This country, inhabited by 1.4

Verification 102

Verification Laws Legal Privacy 102

PYMNTS

MAY 24, 2018

Some of the biggest banks in Europe are urging regulators to increase oversight of large technology companies that are moving into the financial services market. He said they are another way to take deposits from customers — and as a result, should be regulated the same way. The magic word here is wallet.

Regulations 55

Regulations Legal Framework Rules Legal 55

PYMNTS

NOVEMBER 20, 2020

News came this week that a (virtual) meeting between regulators and Big Tech – which would center on draft proposals that might impact their very operations on the Continent –has been postponed briefly from Nov. For Big Tech, there’s just a hint of a bit of a reprieve in Europe. 24 to Dec 2. As noted by Yahoo!

Legal Framework 104

Legal Framework Rules Fed Regulations 104

CB Insights

OCTOBER 26, 2020

This regulation reduced trading profits and created a need to cut costs, spurring investment banks to spin off unprofitable divisions or eliminate them entirely. While the rules against prop trading have more recently been loosened, the restriction has still changed how investment banks operate. Some banks have collapsed.

Underwriting 78

Underwriting Research Online and Mobile Banking Non-Bank 78

Segpay

MARCH 20, 2024

Regulatory Compliance Challenges Deploying generative AI in banking is subject to a complex regulatory landscape governed by stringent data protection, consumer privacy, and financial regulations.

AI 110

AI Privacy Non-Bank Fraud Detection 110

Segpay

SEPTEMBER 30, 2024

This blog explores child protection laws across key Latin American countries, highlighting their different approaches and the evolving regulatory frameworks. The Brazilian Child and Adolescent Statute (ECA) provides a broad legal framework to protect minors. We also look at the age verification tools that are used in the region.

Verification 111

Verification Legal Framework Laws Regulations 111

Fintech Finance

JULY 1, 2024

In line with current practice, payment service providers would only have access to the personal data that are required to ensure compliance with EU law, such as anti-money laundering regulations. To use data for commercial purposes, payment service providers would need users’ explicit consent.

Legal Framework 98

Legal Framework Money Laundering Online and Mobile Banking Central Bank 98

Fintech Review

SEPTEMBER 17, 2024

This framework offers the promise of fairness and inclusivity, as decision-making authority is decentralised. At the core of DAOs are smart contracts, which automatically execute actions based on predefined rules. DAOs exist in a grey area legally because traditional legal frameworks have not caught up with blockchain innovations.

Government 105

Government Governance Innovation Legal 105

PYMNTS

NOVEMBER 5, 2019

Two Democrats have introduced a new bill that would create a federal agency tasked solely with regulating the tech industry. Anna Eshoo and Zoe Lofgren, both of California, would lead to the creation of the Digital Privacy Agency (DPA), a federal agency that would issue regulations and enforce imposed privacy rules.

Regulations 40

Regulations Privacy CCPA Legal Framework 40

CoinRemitter

JUNE 30, 2024

In DAOs, rules and protocols are encoded in smart contracts, which are self-executing agreements with the terms of agreements directly written into code. In DAOs, smart contracts on blockchains enforce rules and carry out decisions automatically. Regulators are concerned that DAOs might be used to bypass AML laws.

Government 40

Government Governance Money Laundering Blockchain 40