The Fintech Times

DECEMBER 9, 2024

Google has filed a legal challenge against the US Consumer Financial Protection Bureau (CFPB), the agency responsible for overseeing consumer finance, after it placed Google Payment Corp., The move follows the agencys use of a dormant legal authority revived in 2022 to oversee nonbank entities deemed to pose risks to consumers.

Consumer Financial Protection Bureau (CFPB) 75

Consumer Financial Protection Bureau (CFPB) CFPB Regulations Legal 75

Fintech News

JUNE 10, 2024

The authorities urge organisations to adopt robust cybersecurity measures to protect against these attacks. Organisations should only collect, process, store, and retain data essential for business, operational, or legal requirements. Implementing data minimisation practices is also recommended.

Ransomware 106

Ransomware Authorization Phishing Cybersecurity 106

Fintech Finance

OCTOBER 4, 2024

Since then, the company’s management has worked intensively to adapt the system to local regulatory and legal requirements, as well as to build a development strategy based on the specifics of the Romanian market. 3 of 2018 and is an unconditional authorization for the operation of the system on the Romanian market.

Authorization 96

Authorization Online and Mobile Banking Payments Legal 96

VISTA InfoSec

MARCH 28, 2024

Data Minimization Data minimization means collecting only the information you absolutely need to serve your customers or comply with legal requirements. For example, if you’re only shipping products, you might not need to collect customers’ birthdates unless it’s relevant for legal age verification.

Data Breach 278

Data Breach Regulatory Compliance Breach Encryption 278

The Payments Association

JANUARY 13, 2025

The Financial Conduct Authority (FCA) recently outlined significant changes to the safeguarding regime for payments and e-money firms in its consultation paper CP24/20. However, this introduces new complexities, including increased legal obligations and potential delays in fund distribution. What’s next?

Compliance 88

Compliance Audit Legal Reconciliation 88

Fintech Finance

DECEMBER 17, 2024

Neonomics , an open banking payments and data company, has lodged a formal complaint to the Norwegian Competition Authority to advocate for innovation and fair competition within the Norwegian Payments market. This behavior harms consumers and businesses alike, while protecting entrenched interests.

Authorization 93

Authorization Visa Payments Innovation 93

Fintech News

JUNE 8, 2025

Singapore will block access to the websites of Octa and XM from 20 June 2025, after the authorities found both platforms to be operating in breach of the Securities and Futures Act 2001 (SFA). Authorities advised the public to trade only with platforms listed in MAS’ Financial Institutions Directory.

Blocks 65

Blocks Authorization Debit Card Breach 65

Stax

MAY 16, 2025

Gray noted, There are some historically underserved markets that we’re seeing a lot of growth in, citing specialized healthcare (such as chiropractic and veterinary practices), legal services, accounting firms, logistics companies, and nonprofits as key beneficiaries.

Embedded Finance 88

Embedded Finance Underserved Small Business Finance 88

VISTA InfoSec

OCTOBER 21, 2024

Working closely with the supervisory authority on processing-related matters. Relevant Skills of a Qualified DPO Deep understanding of Data Protection Laws, such as GDPR, CCPA, and others to ensure compliance with legal requirements. Providing advice on and monitoring the performance of impact assessments related to data protection.

CCPA 208

CCPA Privacy Assessments Laws 208

VISTA InfoSec

MARCH 25, 2025

VISTA InfoSec has successfully passed our demanding assessment process, which evaluates test methodologies, legal and regulatory requirements, data protection standards, logging and auditing, internal and external communications with stakeholders, as well as how test data security is maintained.”

Cybersecurity 130

Cybersecurity Accreditation PCI DSS Assessments 130

VISTA InfoSec

SEPTEMBER 30, 2024

A data protection officer role is to act as a bridge between organizations, its employee, and the regulatory authorities ensuring that the handling of personal data is safe, lawful and in line with regulations like GDPR (General Data Protection Regulation). Key Responsibilities of a Data Protection Officer 1.Monitoring

CCPA 130

CCPA Privacy Laws Data Breach 130

VISTA InfoSec

OCTOBER 21, 2024

A data protection officer role is to act as a bridge between organizations, its employee, and the regulatory authorities ensuring that the handling of personal data is safe, lawful and in line with regulations like GDPR (General Data Protection Regulation). Key Responsibilities of a Data Protection Officer 1.Monitoring

CCPA 130

CCPA Privacy Laws Data Breach 130

Fintech News

MARCH 19, 2025

The Competition and Consumer Commission of Singapore (CCCS) acknowledged media reports on the possible deal and advised the companies to seek legal counsel to ensure compliance with Singapore’s competition laws. The regulator remains open to discussions through its merger notification and pre-notification processes.

Regulations 79

Regulations Due Diligence Caps Mitigation 79

The Fintech Times

MARCH 18, 2025

To develop tokenised investment products and services in Dubai, the Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), is inviting firms to express their interest in participating in the DFSAs Tokenisation Regulatory Sandbox.

Participant 72

Participant Assessments Legal Regulations 72

VISTA InfoSec

FEBRUARY 25, 2024

A data breach occurs when cybercriminals infiltrate your systems and access sensitive information without authorization. You may face legal/regulatory penalties for violating disclosure laws. Minimize Access Only authorize essential system/data access for users per role responsibilities. What Is A Data Breach?

Data Breach 272

Data Breach Breach Multifactor Authentication Cybersecurity 272

The Payments Association

OCTOBER 23, 2024

On 25 September 2024, the UK Financial Conduct Authority (FCA) published its long-awaited Consultation Paper (CP24/20) setting out proposed changes to the safeguarding rules applicable to electronic money institutions (EMIs) and payment institutions (PIs) (together, payments firms). What does this mean for Payments firms?

Rules 88

Rules Payments Institute Authorization Reconciliation 88

VISTA InfoSec

JULY 17, 2024

Navigate legal and regulatory frameworks Dealing with laws and rules about cybersecurity in different countries is a must. Each of these sets its own rules on handling personal information safely and legally. Make sure everyone knows how to use these tools correctly. Also, pick the software that supports various languages.

Cybersecurity 238

Cybersecurity Compliance Encryption Best Practices 238

The Fintech Times

JANUARY 29, 2025

Moreover, the Qatar Investment Authority (QIA) , the countrys sovereign wealth fund, has shown interest in fintech opportunities globally, along with ventures in venture capital and sustainability. Among the notable fintech companies emerging from Qatar are CWallet , Loopay as well as Tiptiptop.

FinTech 59

FinTech Central Bank Authorization Legal 59

Stax

DECEMBER 2, 2024

DISCLAIMER: This information is not legal advice. Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. As always, please rely on the guidance of your independent legal advisors.

Junk Fees 68

Junk Fees Credit Cards Push-to-Card Laws 68

Fintech News

MARCH 31, 2024

The Monetary Authority of Singapore (MAS) has officially rolled out the COSMIC platform , a digital initiative aimed at bolstering the defense against money laundering, terrorism financing, and the proliferation of weapons of mass destruction.

Financial Crimes 112

Financial Crimes Crime Money Laundering Law Enforcement 112

Fintech News

JUNE 23, 2024

While DPT activities in Singapore constitute a small portion of global activities, authorities have noted a rise in reported cases and various ways these tokens can be exploited. Consequently, Singapore is closely monitoring the sector. Other high-risk sectors include real estate, licensed trust companies, casinos, and precious metals.

Money Laundering 108

Money Laundering Risk Law Enforcement Crime 108

The Payments Association

DECEMBER 2, 2024

The enforcement of MiCA provides clear guidelines for the issuance and management of stablecoins, reducing legal uncertainties and fostering confidence among market participants. The Duty, which was introduced by the Financial Conduct Authority (FCA), was brought in to enhance consumer protection within financial services.

Regulations 88

Regulations Instant Payments Consumer Protection Payments 88

Fintech Review

SEPTEMBER 17, 2024

Operating without central authority, DAOs promote decentralised decision-making, with the promise of democratising governance across various sectors. Fintech Review looks into their function, their role in fostering innovation, and the significant challenges they face, particularly in terms of legal recognition, security, and scalability.

Governance 105

Governance Government Innovation Legal 105

The Payments Association

JUNE 3, 2025

This misconception has shaped many CBDC proposals, which tend to replicate traditional account-based structures under the control of central authorities or delegated intermediaries. CBDCs that allow authorities to track money not only when it moves but also when it remains stationary undermine trust.

CBDC 88

CBDC Cross-Border Central Bank Cross-Border Payments 88

The Fintech Times

SEPTEMBER 25, 2024

The Hong Kong Monetary Authority (HKMA) has launched the second phase of its initiative to explore digital money, expanding its focus from just a central bank digital currency (e-HKD) to also include tokenised deposits.

Authorization 59

Authorization Digital Currency Use Case Settlement 59

Finextra

JUNE 5, 2025

Enable Accountable Authorities To ensure the reliability of digital credentials in business contexts, a robust trust framework is essential. While current eIDAS legislation focuses on natural persons, the initiative must also support credentials for legal entities, such as licences, certifications, and attestations.

Credential 52

Credential Payment APIs and Integration Authorization Issuers 52

VISTA InfoSec

AUGUST 22, 2023

In 2019, a Swedish local authority was fined over $20,000 for using facial recognition software to monitor high school students’ attendance. Use beyond the original purposes requires explicit consent or legal justification. The AEPD reduced the initial fine of €3,150,000 due to voluntary payment.

Privacy 130

Privacy Legal Compliance Best Practices 130

The Payments Association

FEBRUARY 10, 2025

This legislation represents a significant shift in corporate accountability, aiming to strengthen the UKs legal framework against financial crime. Voices from the industry Businesses subject to the Failure to Prevent Fraud offence must understand their legal obligations under the new law.

Crime 88

Crime Fraud Prevention Risk Assessment Due Diligence 88

Fintech News

FEBRUARY 25, 2024

A major investigation is underway in Singapore involving the police and the Monetary Authority of Singapore (MAS) against two key figures of Samlit Moneychanger, a licensed payment services provider. The government is also planning outreach to those impacted, emphasising the availability of legal recourse within Singapore’s framework.

Authorization 108

Authorization Laws Business Day Compliance 108

The Payments Association

FEBRUARY 10, 2025

Regulatory reviews from the Bank of Italy, UIF, and the European Banking Authority (EBA) have identified key shortcomings in the management of vIBANs. Regulatory oversight intensifies Authorities such as the EBA, UIF, and national regulators are raising concerns about vIBAN compliance.

IBAN 88

IBAN AML Master Account Due Diligence 88

The Payments Association

FEBRUARY 14, 2025

Safeguarding customer funds The Financial Conduct Authority (FCA) has proposed significant changes to the safeguarding regime for payments and e-money firms. In 2025, three priorities stand out: safeguarding customer funds, expanding open banking, and preparing for stablecoin regulation.

Stablecoins 88

Stablecoins Payment APIs and Integration Regulatory Compliance Compliance 88

Fintech News

DECEMBER 9, 2024

This proactive approach, driven by the Monetary Authority of Singapore (MAS), seeks to enhance the nation’s financial infrastructure. Morgan, MUFG, and Societe Generale-FORGE , have been leading efforts to define the business, governance, risk, legal, and technology requirements of the GL1 Platform.

Cryptocurrency 116

Cryptocurrency Cross-Border Consumer Protection Facilitators 116

Trade Credit & Liquidity Management

JUNE 11, 2025

Attorney Shane Heskin of White and Williams LLP, a leading legal authority on MCA-related litigation, notes that while reconciliation provisions are meant to offer protection, invoking them can come at a cost. Too often, MCA funders leverage opacity and delay, exploiting merchants’ lack of legal sophistication.

Reconciliation 52

Reconciliation UCC Legal Adjustments 52

PYMNTS

AUGUST 3, 2020

The paper cited documents and “Italian legal sources” in its story about the organized crime syndicate ’Ndrangheta and CenturionBet, an online gaming company based in Malta. ” The FT added: “Since then, more than 30 people have been sentenced for mafia-related crimes linked to the case.”

Money Laundering 144

Money Laundering Crime Legal Authorization 144

Fintech News

FEBRUARY 25, 2024

This recommendation comes after a thorough evaluation of Zipmex’s operations, highlighting concerns regarding the company’s compliance with legal financial standards and the sufficiency of its management structure. The SEC Board, invoking its authority under the Emergency Decree on Digital Asset Businesses B.E.

Legal 118

Legal Returns On-Demand Laws 118

The Fintech Times

FEBRUARY 19, 2025

At the end of 2024, the Dubai Financial Services Authority (DFSA), the independent regulator for business undertaken from or within the Centre, regulated or supervised over 900 entities. The post DIFC Celebrates Strong Year in 2024, as Tech, AI and Fintech Sectors Enjoy Record-Breaking Growth appeared first on The Fintech Times.

AI 75

AI FinTech Laws Authorization 75

Fintech News

JANUARY 10, 2024

In response to these incidents, the Monetary Authority of Singapore (MAS) and SPF are actively seeking information from Chinese authorities to understand the underlying reasons and concerns that have led to the freezing of these recipient bank accounts in China.

Authorization 115

Authorization Business Day Adjustments Breach 115