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Ex-US Bank Risk Officer Fined For AML Failure

PYMNTS

Bank had in place erroneously capped the number of alerts, which hindered law enforcement’s ability to spot suspicious activity. LaFontaine was warned by his subordinates and by regulators that capping the number of alerts was dangerous and ill-advised. The capped alerts were in place for at least five years.

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AML Scandals Prompt Decrease In European Foreign Deposits

PYMNTS

The former Latvian government set a cap on foreign deposits after the collapse of ABLV, at 5 percent. The new government got away with the cap, and foreign deposits have been continuously falling, and they now account for 12 percent of the 16 billion euros in all deposits.

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The PSR’s new fraud refund rules: A step forward, but is it enough?

The Payments Association

While this marks a significant step toward protecting consumers from authorised push payment (APP) fraud, concerns remain that the reduced compensation cap may leave some victims vulnerable. However, the decision to cap refunds at £85,000—down from an earlier proposal of £415,000—has sparked debate with various concerns.

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Offline settlements with a digital pound: Lessons from the BoE’s report

The Payments Association

Simon Treacy Financial Regulation Counsel, Linklaters “The Bank of England is cautiously exploring a digital pound, confirming offline functionality is technically feasible, though not without trade-offs like secure hardware and balance caps. Key policy questions remain unresolved, including liability, privacy, and consumer demand.

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US Bank Pays Justice Department $613M For Money Laundering Settlement

PYMNTS

Bank knowingly breached the Bank Secrecy Act’s reporting requirements by not creating and implementing a good enough anti-money laundering (AML) program. Bank’s own anti-money laundering staff warned against the risk of this alerts-capping strategy, but these warnings were ignored by management. Blanco in the press release.

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Driving Efficiency in Loans Against Mutual Funds with Tailored Loan Management System (LMS)

M2P Fintech

These loans typically offer 50% to 90% of their worth, with caps at 45% for equity funds and 75% for debt funds. Compliance and Regulatory Requirements: Ensuring adherence to AML, KYC guidelines, and RBI-mandated LTV (Loan-to-Value) requirements demands constant vigilance and precision. How do Loan Against Mutual Funds Work?

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How Visa and MasterCard Shape the Payments Industry

Clearly Payments

Interventions such as countries putting caps on interchange fees and mandates for transparent pricing aim to foster competition and protect consumer interests. As global payment networks, they must navigate complex regulatory frameworks governing payment processing, AML/CFT , and consumer protection in multiple jurisdictions.

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