Fintech Finance

JULY 1, 2024

As the issuer of and payment infrastructure provider for a digital euro, the ECB will be supervised by independent data protection authorities that will monitor its compliance with the European Union Data Protection Regulation (EUDPR) and the General Data Protection Regulation (GDPR). The digital euro is a common European endeavour.

Legal Framework 98

Legal Framework Money Laundering Online and Mobile Banking Central Bank 98

The Fintech Times

AUGUST 19, 2024

In April 2024, the country reviewed the legal framework for virtual assets declaring that providers must register and comply with the duty to report to authorities. This reflects the growing acceptance of digital assets within the country’s legal framework.

Legal Framework 64

Legal Framework Cryptocurrency Money Laundering Card Issuer 64

PYMNTS

NOVEMBER 20, 2018

According to a report in Reuters , citing European Central Bank Supervisory Board Chair Daniele Nouy, the European Central Bank’s Single Supervisory Mechanism will create an anti-money laundering office that will collect and share the information from other supervisors as well as from authorities.

Money Laundering 73

Money Laundering Central Bank Legal Framework AML 73

PYMNTS

APRIL 12, 2019

“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 Breach Legal Framework 77

The Fintech Times

JANUARY 31, 2025

Thawani made history in 2020 by becoming the first non-banking financial entity to receive a fintech licence from the CBO, marking a significant milestone in Omans fintech journey.

FinTech 64

FinTech Non-Bank Legal Framework Central Bank 64

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 FinTech Laws Regulations 147

Fintech News

JULY 17, 2024

And contrasting with the non-crypto native space, the Hong Kong Monetary Authority (HKMA) just fined DBS Bank (Hong Kong) Limited, the HK subsidiary of DBS , a HK$10 million penalty for breaches of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). The United Arab Emirates has amended Federal Decree-Law No. (20)

Money Laundering 106

Money Laundering Law Enforcement AML Non-Bank 106

PYMNTS

NOVEMBER 2, 2018

The Australian Financial Complaints Authority (AFCA) has officially launched, and small business owners will have the opportunity to be compensated up to AUS$1 million (about $720,000 USD) to resolve complaints. Small businesses with disputes can go to the AFCA, which will first tackle any issues via informal methods, including mediation.

Disputes 61

Disputes Legal Framework Small Business Governance 61

Neopay

JULY 18, 2024

The European Banking Authority (EBA) issued new Guidelines on the so-called ‘travel rule’, i.e. the information that should accompany transfers of funds and certain crypto assets. This rule will help tackle the abuse of such transfers for money laundering and terrorist financing purposes.

Travel Rule 52

Travel Rule Money Laundering Rules Finance 52

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. Regulators need both the resources and the authority to take meaningful action against companies that turn a blind eye to fraudulent activities.

Crime 88

Crime Fraud Prevention Risk Assessment Due Diligence 88

Neopay

FEBRUARY 27, 2025

The European Banking Authority (EBA) narrowed down the scope of its existing Guidelines on ICT and security risk management measures, due to the application of harmonised ICT risk management requirements under the Digital Operational Resilience Act (DORA) from 17 January 2025.

Risk Management 52

Risk Management Risk Security Legal Framework 52

Stax

DECEMBER 9, 2024

The transaction details, including the purchase amount, are transmitted to the merchant’s acquiring bank for authorization. Authorization and Settlement The acquiring bank, upon receiving the transaction details, verifies the availability of funds in the consumer’s credit card account.

Credit Cards 88

Credit Cards Process Disputes Card Issuer 88

Fintech Review

MAY 1, 2025

No matter how disruptive a fintech platform is, it must operate within legal frameworks that are evolving rapidly. Fintechs that embrace regulatory excellence, invest in robust compliance systems, and engage proactively with authorities will be the ones that thrive. It is no longer enough to innovate.

Compliance 59

Compliance Regulations FinTech Payment APIs and Integration 59

Neopay

NOVEMBER 27, 2023

The European Banking Authority (EBA) has launched a public consultation on new Guidelines on preventing the abuse of funds and certain crypto-assets transfers for money laundering and terrorist financing purposes.

Money Laundering 52

Money Laundering Consulting Finance Travel Rule 52

Fintech News

JANUARY 17, 2024

On another front, LexisNexis Risk Solutions reports proactive efforts by the Hong Kong Monetary Authority to bolster online banking security and combat digital fraud. This collaboration, while essential, requires careful navigation of legal frameworks to ensure effective and compliant information exchange.

Deepfake 121

Deepfake APACS Scams Authentication 121

The Paypers

SEPTEMBER 11, 2020

The European Banking Authority (EBA) has published its response to a European Commission’s call for advice on how to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).

Money Laundering 28

Money Laundering Legal Framework Finance AML 28

The Fintech Times

JUNE 6, 2024

Since its inception in 2021, Project mBridge has involved the Bank of Thailand, the Central Bank of the UAE, the Digital Currency Institute of the People’s Bank of China, and the Hong Kong Monetary Authority. The Saudi Central Bank (SAMA) has recently joined as a full participant, with over 26 other central banks observing.

Participant 45

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

Segpay

MARCH 24, 2025

The Australian Communications and Media Authority (ACMA) enforces gambling laws and can block illegal offshore gambling websites. Let us take a closer look at the regulations around online Gaming and online Gambling and compare Australia with the USA. Includes betting on esports, online casinos, poker, and sports wagering.

Compliance 71

Compliance Suspicious Activity Report (SAR) Fincen AML 71

Neopay

JUNE 24, 2024

The Joint Committee of the European Supervisory Authorities (EBA, EIOPA, and ESMA – ESAs) has published its 2023 Annual Report, detailing the joint work completed over the past year. DORA mandated the ESAs to develop several policy products before its application date of January 17, 2025, to supplement the legal framework.

Legal Framework 40

Legal Framework Financial Literacy Consumer Protection Risk Assessment 40

The Fintech Times

OCTOBER 10, 2024

This move comes shortly after the Virtual Assets Regulatory Authority ( VARA ) intensified its efforts to safeguard Dubai’s virtual asset ecosystem by targeting unlicensed firms operating within its jurisdiction. Earlier in the year, OKX entered markets in Brazil, Türkiye, Australia, and the Netherlands.

Cryptocurrency 52

Cryptocurrency Risk Management Blockchain Legal Framework 52

FICO

SEPTEMBER 27, 2017

Outside of tax agencies you often find departments with significant receivables, but without the mission, authority, or focus on collecting these receivables. Centralizing Collections in Government - Statutory Authorities. One important consideration for centralized collections is having the proper statutory authorities in place.

Governance 49

Governance Government Non-Bank Authorization 49

PYMNTS

APRIL 21, 2020

Mexico’s eInvoicing requirements began back in 2004, when its tax authority, the SAT, first developed its eInvoicing legal framework. While the U.S. Since then, the mandate has been expanded, and today, all invoices, including those in B2B transactions, must be electronic.

B2B 57

B2B Payer Payments Legal Framework 57

Segpay

APRIL 1, 2025

While their goals align, their approaches and legal frameworks differ. Regulatory Frameworks In the United Kingdom, the Online Safety Act passed into law on 26 October 2023. The CNIL (Frances data protection authority) oversees compliance with the SREN Law, which strengthens online safety and privacy.

Verification 45

Verification Regulations Privacy Online and Mobile Banking 45

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. It sheds light on the pressing issues plaguing the nation’s digital ecosystem and proposes bold strategies for transformative change.

Economy 59

Economy Crime Legal Framework Governance 59

Segpay

MAY 1, 2024

DORA entered into force on January 16th, 2023, and its legal implementation deadline is January 17 th , 2025. 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).

Cybersecurity 52

Cybersecurity Compliance Procedures Risk Management 52

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.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

CoinRemitter

JUNE 30, 2024

Blockchain technology manages the organization, coordinating tasks and governance without needing a central authority. Legal and Regulatory Challenges of DAOs Legal Status: Current legal frameworks struggle to categorize DAOs. Shareholders vote on big issues. This creates confusion.

Governance 40

Governance Government Blockchain Money Laundering 40

Global Fintech & Digital Assets

FEBRUARY 26, 2024

By Simon Hawkins and Adrian Fong On 7 February 2024, the Hong Kong Monetary Authority (HKMA) released a consultation paper on its proposal for implementing new regulations on the prudential treatment of cryptoasset exposures (Consultation Paper).

Consulting 52

Consulting Regulations Distributed Ledger Technology (DLT) Stablecoins 52

Basis Theory

OCTOBER 1, 2024

Return to Top Risk of Non-Compliance Each PCI requirement acts as a proactive measure to protect cardholder data, and as a legal framework to isolate and financially penalize non-compliance. Typically, these fines range from around $5,000 to $100,000. Learn more about PCI DSS Requirement 6.

PCI DSS 88

PCI DSS Compliance Encryption Assessments 88

Segpay

AUGUST 20, 2024

Centralized Regulatory Authority : The National Press and Publication Administration (NPPA) oversees the implementation and enforcement of age verification laws, ensuring consistent application across the country. billion people, is strengthening and unifying its regulatory framework. This country, inhabited by 1.4

Verification 105

Verification Laws Legal Privacy 105

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

Fintech News

JANUARY 7, 2025

Singapore’s Parliament has passed the Protection from Scams Bill , granting authorities the power to issue Restriction Orders (ROs) that temporarily freeze bank transactions and credit facilities for individuals identified as potential scam victims. Non-compliance with an RO could result in fines of up to S$3,000.

Scams 110

Scams Accounts Legal Framework Non-Bank 110

Fintech News

FEBRUARY 2, 2025

11 of 2008 on Electronic Information and Transactions, meanwhile, governs the use of electronic information and transactions in Indonesia, providing a legal framework for electronic transactions and digital identity verification, which can be applied to eKYC practices. Key AML/CFT regulations in Indonesia include Law No.

AML 100

AML Due Diligence Money Laundering Legal Framework 100

Fintech News

APRIL 8, 2025

According to a joint statement by the police and the Monetary Authority of Singapore (MAS) in early April, there have been at least 678 reported cases of this specific impersonation scam alone. We’re conditioned to respond promptly to authority, to comply with procedures, and to trust institutions. And heres the painful irony.

Scams 86

Scams Authorization Legal Framework Crime 86

The Fintech Times

NOVEMBER 29, 2024

She says: “To be what I would consider ‘reliable’ (as much as tech currently allows), AI must not only provide factual advice but also comply with legal frameworks, such as the GDPR (Article 5), which ensures data privacy and transparency.

AI 89

AI Advisors Credential Legal Framework 89

The Fintech Times

APRIL 22, 2025

Both parties explored how Vietnam could establish a legal framework for crypto assets. Nguyen Van Thang , recently met with Ben Zhou , co-founder and CEO of Bybit , the cryptocurrency exchange, at the Ministry of Finance headquarters.

Regulations 55

Regulations AML Legal Framework Money Laundering 55

Fintech News

MARCH 3, 2025

And how will law enforcement determine who is at risk without overstepping their authority? Nizam s uggests that a more objective standard would be a better legal framework. I am not trying to rile people up against the authorities. Such omission raises concerns about how authorities might apply these powers.

Scams 71

Scams Laws Law Enforcement Authorization 71