Open Banking Excellence

SEPTEMBER 27, 2024

The main objectives of this law are to promote financial inclusion, establish a solid legal framework to increase users’ confidence in financial technology services, and stimulate greater competition in the financial market. In 2023, the Fintech landscape experienced notable growth.

Financial Inclusion 147

Financial Inclusion Laws FinTech Regulations 147

Fintech News

JULY 17, 2024

In 2024, the top 100 bitcoin consolidation wallets received £968 million worth of bitcoin from over 14,970 distinct addresses. Cross-Border Collaboration and Public-Private Partnerships The report emphasises the need for global cooperation to address the borderless nature of cryptocurrency transactions.

Money Laundering 109

Money Laundering Law Enforcement AML Non-Bank 109

Fintech Finance

MAY 7, 2025

With my experience in building high-performing legal teams and navigating complex regulatory environments, I look forward to helping PayFuture expand its reach globally, while ensuring that legal frameworks and internal processes remain agile and aligned with business needs.”

Legal 59

Legal Regulatory Compliance Legal Framework Compliance 59

Fintech News

JANUARY 17, 2024

To address these issues, the Reserve Bank of India (RBI) took action in 2023 by mandating stricter IT governance and risk controls. Ongoing behavioural monitoring post-onboarding also helps spot fraudulent accounts created using synthetic identities.

Deepfake 125

Deepfake APACS Scams Authentication 125

The Fintech Times

FEBRUARY 21, 2024

Furthermore, Asia is proactive in implementing the necessary legal frameworks to support these advancements. Unlike the EU, which benefits from uniform regulations and a shared legal framework for its member states, Asia presents a tapestry of diversity with no overarching structures.

APACS 59

APACS Legal Framework Finance Cross-Border 59

Fi911

JANUARY 4, 2024

Certain regulations known as “chargeback rules” are, in fact, based on legal statutes. The Fair Credit Billing Act (FCBA) Passed in 1974, the FCBA addressed concerns about credit card theft and fraud. The post Chargeback Rules: What Laws & Regulations Govern the Dispute Process? appeared first on fi911blog.

Disputes 104

Disputes Laws Rules Governance 104

Neopay

JULY 18, 2024

The Regulation recasts Regulation (EU) 2015/847 and brings the EU’s legal framework in line with the Financial Action Task Force (FATF)’s standards by extending the obligation to include information about the originator and beneficiary to CASPs – the so-called ‘travel rule’.

Travel Rule 52

Travel Rule Money Laundering Rules Finance 52

The Fintech Times

JUNE 6, 2024

The initiative seeks to address inefficiencies in cross-border payments, such as high costs, low speed, and operational complexities, while promoting financial inclusion. ” The post Project mBridge Reaches MVP Stage, Expands International Participation appeared first on The Fintech Times.

Participant 45

Participant Distributed Ledger Technology (DLT) Cross-Border Payments CBDC 45

FICO

MARCH 7, 2023

The EU Sets Out the First Legal Framework for AI Regulation In April 2021, the European Commission and EU member states kicked off a coordinated plan placing Europe on a path to becoming a global leader in cutting-edge, trustworthy artificial intelligence. Ethical AI is as big driver.

AI 52

AI Regulations Legal Framework Non-Bank 52

The Fintech Times

JULY 2, 2024

Vertical SaaS targets specific industries with tailored products that address particular industry challenges, contrasting with horizontal SaaS which offers more generic products across various industries. There are political shifts, economic reforms, and efforts to modernise outdated legal frameworks.

FinTech 59

FinTech Cross-Border Underserved Legal Framework 59

Neopay

JULY 18, 2024

The European Union’s 6th Anti-Money Laundering Directive (6AMLD) has enhanced the legal framework, increasing penalties and expanding the scope of predicate offenses. In contrast, emerging markets in Asia and Africa face significant challenges due to weaker regulatory frameworks and limited resources.

Money Laundering 52

Money Laundering AML Crime Cryptocurrency 52

The Fintech Times

MARCH 23, 2024

Addressing these issues head-on is From Fintech to Ubiquitech: Accelerating the wider UK Digital Economy, a new report authored by a working group led by Dr. Ruth Wandhöfer. ” The post From Kalifa to Wandhöfer: Propelling the UK’s Digital Renaissance with Ubiquitech appeared first on The Fintech Times.

Economy 59

Economy Crime Legal Framework Governance 59

Neopay

NOVEMBER 27, 2023

The recast brings the EU’s legal framework in line with the Financial Action Task Force (FATF)’s standards by extending the obligation to include information about the originator and beneficiary to CASPs – the so-called “travel rule”.

Money Laundering 52

Money Laundering Consulting Finance Travel Rule 52

Segpay

MARCH 24, 2025

By comparing the Australian legal e-gaming and e-gambling landscape with that of the USA, we want to make it easier to understand for our readers who are familiar with US regulations. Before addressing gaming and gambling regulations, let’s take a helicopter view at the regulatory frameworks that regulate the payments industry.

Compliance 71

Compliance Suspicious Activity Report (SAR) Fincen AML 71

FICO

SEPTEMBER 27, 2017

These tools offer the ability to pay or enter into a payment arrangement on-line, consolidating debt from multiple agencies to present a consolidated bill, or finding address and phone number data in an automated fashion. Below is a list of key items to support this function: Single Legal Framework.

Governance 49

Governance Government Non-Bank Authorization 49

Segpay

MAY 1, 2024

Its legal framework is designed to enhance the operational resilience of all digital service providers, including payment service providers (PSPs), that operate in the European Union (EU). DORA’s Main Pillars Digital services providers, including PSPs, must adhere to ensure compliance with the framework.

Cybersecurity 52

Cybersecurity Compliance Procedures Risk Management 52

FICO

JUNE 19, 2023

One firm, for example, describes itself as the “Ikea of collections” and addresses its customers by their first name. Both are within the same legal framework, but the perception of what is allowed and what is not is different. This is also effective because it does not put customers in a defensive attitude.

Automation 52

Automation Legal Framework Legal Consulting 52

Segpay

APRIL 1, 2025

France and the United Kingdom have implemented strict age verification regulations to address this issue. While their goals align, their approaches and legal frameworks differ. During a transitional period of at least six months post-adoption, age verification can be conducted using a bank card imprint ii.

Verification 45

Verification Regulations Privacy Online and Mobile Banking 45

Stax

JANUARY 15, 2024

In the following sections, we’ll delve into the legal framework, compliance standards, and best practices to navigate the complexities of surcharging. Legal and Regulatory Framework Compliance ensures secure and transparent financial transactions, but nuances exist that businesses must grasp. Security audits.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

Finovate

JANUARY 24, 2025

Shabi: Complying with the MiCA framework is the first thing that comes to mind when cryptocurrency and the EU are mentioned in the same sentence. MiCA is the EUs first comprehensive legal framework for crypto assets that introduces clear and consistent rules across member states. However, several areas still need more attention.

Regulations 72

Regulations FinTech BNPL Cross-Border 72

Segpay

MARCH 20, 2024

Banks must proactively address these ethical and social concerns through transparent communication, stakeholder engagement, and responsible AI governance practices. The post Generative AI in Banking and Adult Entertainment appeared first on Segpay.

AI 111

AI Privacy Non-Bank Fraud Detection 111

Clearly Payments

FEBRUARY 8, 2024

By enforcing compliance with legal frameworks, regulation not only upholds the integrity of the financial system but also safeguards national security interests. Regulatory agencies are adapting to address the unique challenges and opportunities presented by fintech innovation.

Regulations 105

Regulations Electronic Fund Transfer Act (EFTA) Federal Reserve Electronic Funds Transfer (EFT) 105

The Fintech Times

APRIL 8, 2024

Global law firm DLA Piper, i n partnership with The Fintech Times and The Fintech Power 50, recently hosted a fascinating evening event at its head office in London addressing how established players and disrupters in the insurance industry can navigate through the complexities of artificial intelligence (AI).

AI 59

AI Risk Legal Framework Use Case 59

Segpay

AUGUST 20, 2024

billion people, is strengthening and unifying its regulatory framework. India has a blanket ban on the production, distribution, and consumption of porn under its legal framework, particularly under Sections 67, 67A, and 67B Platforms. This country, inhabited by 1.4

Verification 105

Verification Laws Legal Privacy 105

CB Insights

OCTOBER 26, 2020

Some have adapted and gone on to post record profits. It aims to address Wall Street concerns that the larger players in the market — including the NYSE, CBOE, and NASDAQ — use their size to unfairly charge investors for trading and for access to real-time market data. Some banks have collapsed. get the full REPORT. First name.

Underwriting 78

Underwriting Research Online and Mobile Banking Non-Bank 78

Fintech News

JANUARY 8, 2025

The trial will focus on enabling tourists to use their digital assets while adhering to the countrys existing legal frameworks. He suggested that cryptocurrency could address specific challenges faced by some expatriates, such as facilitating large transactions like property purchases in Phuket.

Legal Framework 132

Legal Framework Digital Currency Bitcoin Cryptocurrency 132

Fintech News

MARCH 4, 2025

Vietnams Prime Minister Pham Minh Chinh has directed the Ministry of Finance and the State Bank of Vietnam to prepare a legal framework for managing cryptos, with a draft policy expected this month, VnExpress reports. This has resulted in lost tax revenue and a weakened competitive position for the domestic market.

Central Bank 100

Central Bank Legal Framework Finance Legal 100

Fintech News

FEBRUARY 2, 2025

3/10/PBI/2001 , businesses must implement robust identity verification methods and collect identity verification information including full name, identity document number, residential address according to identity documents, place and date of birth, as well as biometric data or signatures. Under BI Regulation No.3/10/PBI/2001 Finally, Law No.

AML 113

AML Due Diligence Money Laundering Legal Framework 113

Fintech News

JANUARY 7, 2025

The bill also addresses the potential involvement of third parties. While some lawmakers questioned whether this penalty is sufficient, the government defended it as consistent with existing legal frameworks under the Criminal Procedure Code. Non-compliance with an RO could result in fines of up to S$3,000.

Scams 113

Scams Accounts Legal Framework Non-Bank 113

Fintech News

MARCH 3, 2025

Nizam s uggests that a more objective standard would be a better legal framework. However, authorities must make some tweaks in addressing the ambiguity surrounding its implementation to ease public concerns. Featured image credit: Edited from Freepik The post Freeze First, Ask Later?

Scams 89

Scams Laws Law Enforcement Authorization 89

The Fintech Times

JANUARY 18, 2025

Addressing these obstacles will be critical to making real progress and ensuring that fintechs have a positive, lasting impact.” “Additionally, navigating regulatory complexity can hinder efforts to scale impact, particularly across regions with diverse legal frameworks. appeared first on The Fintech Times.

FinTech 59

FinTech Financial Inclusion Underserved Cybersecurity 59

Fintech News

FEBRUARY 11, 2025

For starters, the AI Act is a comprehensive framework aimed at addressing AI risks while fostering innovation. Rather than imposing a rigid legal framework, the U.K.s It classifies AI systems into four categories: prohibited, high-risk, limited-risk, and minimal-risk. Recent efforts by the U.S. In contrast, the U.K.

AI 120

AI Regulations APACS Consumer Financial Protection Bureau (CFPB) 120

Nanonets

OCTOBER 27, 2024

” Here is a breakdown of what could happen: - No Legal Consequences: If a country truly has no laws against violent crime, technically, the perpetrator may not face any legal repercussions for their actions. By addressing these injustices, we promote a fairer society where everyone has the opportunity to thrive.

Laws 52

Laws Crime Returns Legal 52