Finextra

JULY 16, 2024

The European Banking Authority (EBA) today launched a consultation on draft Guidelines on reporting requirements to assist competent authorities and the EBA in performing their duties under the Markets in Crypto-assets Regulation (MiCAR).

Consulting 52

Consulting Reporting Requirements Authorization Regulations 52

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 109

Money Laundering Law Enforcement AML Non-Bank 109

Neopay

JULY 18, 2024

These technical standards are crucial as they allow supervisors to monitor institutions’ compliance with the Capital Requirements Regulation (CRR3) implementation of the latest Basel III reforms in the EU and will foster consistent and enhanced supervision.

Reporting Requirements 52

Reporting Requirements Credit Risk Risk Consulting 52

Fintech Review

OCTOBER 22, 2024

Cryptocurrencies have rapidly gained prominence over the last decade, presenting both opportunities and challenges for individuals, businesses, and regulators alike. The Global Landscape of Cryptocurrency Taxation Cryptocurrencies have a decentralised nature, making them difficult to track and regulate.

Cryptocurrency 97

Cryptocurrency Laws IRS Regulations 97

The Fintech Times

APRIL 25, 2024

With businesses of all shapes and sizes digitalising in order to enable and enhance trade on a domestic and international scale, tax authorities have done the same. As a result of businesses digitalising in order to enable and enhance trade on a domestic and international scale, tax authorities have done the same. The result?

Continuity 69

Continuity Near Real-Time Compliance Authorization 69

PYMNTS

JUNE 14, 2017

Not only do regulations vary from jurisdiction to jurisdiction, but the consequences of non-compliance vary greatly, too. In a new report by TMF Group, analysts aimed to understand exactly how compliance demands change in various parts of the world. The first, unsurprisingly, is regulation.

Regulatory Compliance 58

Regulatory Compliance Compliance On-Demand Regulations 58

The Fintech Times

FEBRUARY 12, 2024

As we approach the midpoint of February, the Abu Dhabi Global Market (ADGM) has been in the spotlight for celebrating achievements as well as penalising firms for breaching regulations. We are steadfast in our commitment to take regulatory action against practices intended to circumvent tax reporting.”

Distributed Ledger Technology (DLT) 59

Distributed Ledger Technology (DLT) Due Diligence Innovation Procedures 59

PYMNTS

NOVEMBER 26, 2019

The Prudential Regulation Authority (PRA), the supervisory arm of the Bank of England (BoE), has fined Citigroup a record-breaking $56.3 million for not completing accurate returns between 2014 and 2018, according to a report by Reuters. Citigroup said it corrected the issues as soon as it became aware of them.

Returns 54

Returns Audit Regulations Authorization 54

The Fintech Times

JULY 31, 2024

While many organisations are successfully solving genuine issues , regulators are as keenly focused on these firms as those out to maximise profits. “Issues such as data privacy, cross-border transactions, and adherence to stringent anti-money laundering (AML) protocols require constant vigilance and adaptation. .

Compliance 64

Compliance AML Regulations Due Diligence 64

PYMNTS

DECEMBER 17, 2018

Australian challenger bank Judo Capital has chosen VERMEG , a leading banking and insurance software solution company, to meet its Australian Prudential Regulation Authority (APRA) reporting requirements as it pursues its full banking license. “Regulatory reporting is an essential function for Judo.

Compliance 46

Compliance Regulatory Compliance Authorization On-Demand 46

Neopay

APRIL 8, 2024

On March 12, 2024, HM Treasury announced its proposal for the Payment Services (Amendment) Regulations 2024. These new regulations aim to empower PSPs with more time to investigate transactions suspected of fraud or dishonesty, thereby enhancing the industry’s ability to combat fraud effectively. What are the proposed changes?

Service Provider 52

Service Provider Due Diligence Fraud Prevention Payments 52

Finovate

JUNE 20, 2024

The newer regulations are more complex and reporting on them is more frequent. Compliance platforms of the past are not able to cope with these new kind of reporting requirements. As a private SaaS platform, our proprietary AI software addresses the newer compliance requirements with ease.

Compliance 52

Compliance Regulatory Compliance Regulations AI 52

Stax

JANUARY 31, 2024

Compliance and Regulation: Changes in regulations or compliance requirements can also influence interchange rates. Stay informed through industry publications that discuss changes in interchange rates, regulations, and trends affecting payment processing. Industry: The type of business also affects interchange rates.

Credit Cards 88

Credit Cards Push-to-Card Processors Transactions 88

Finovate

SEPTEMBER 18, 2024

However, the proposed rule is specific in its requirements, stipulating that banks working with non-bank entities (as in a BaaS partnership) must maintain accurate records that identify the beneficial owners of custodial deposit accounts that are held on behalf of consumers, which is typical in a BaaS agreement.

Rules 52

Rules FDIC Non-Bank Money Laundering 52

FICO

OCTOBER 26, 2017

As a result, financial institutions had to set up new processes, and most of the software vendors did not enhance their FATCA compliance solutions to cover the CRS reporting requirements. CRS reporting is more of a regional topic (e.g., Managing FATCA/CRS Regulations with One Tax Compliance & Reporting System.

Compliance 53

Compliance IRS Agreements Audit 53

FICO

MAY 25, 2017

This is despite new reporting regulations being introduced this year to arrest the problem. This outlook comes at a significant point in time, with only five months to go until a new international standard is rolled out that governs how tax authorities in participating countries exchange data relating to the bank accounts of taxpayers.

APACS 40

APACS Authorization Compliance Reporting Requirements 40

PYMNTS

SEPTEMBER 25, 2019

Regulators the world over are beginning to take a closer look at the alternative and marketplace lending business model. In the U.S., In June, the U.K.’s Also, in China, analysts at Yingcan Group pointed to the government’s P2P and marketplace lending crackdown as being likely to shrink the industry by as much as 70 percent this year.

Compliance 47

Compliance P2P Risk Management Regulatory Compliance 47

The Payments Association

OCTOBER 11, 2024

The Financial Conduct Authority’s (FCA) proposed reforms to strengthen consumer fund safeguarding in the payments and e-money sectors. The Financial Conduct Authority (FCA) is consulting on new rules and guidance to strengthen the safeguarding of consumer funds in the payments and e-money sectors. What is this article about?

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

PYMNTS

APRIL 28, 2016

The new idea being floated involves classifying marketplace lenders, who operate online and also offer smaller loans with set payments, as installment lenders that are under the CFPB’s jurisdiction and regulations. Many are also bound to reporting requirements with the SEC.

CFPB 40

CFPB Consumer Protection Regulatory Compliance FTC 40

Nanonets

AUGUST 2, 2023

It helps to track the movement of goods, ensures border security, and allows the US Department of Commerce to regulate the flow of goods in and out of the country.   This includes items that are classified under the International Traffic in Arms Regulations (ITAR) or the "600 series" of the Commerce Control List.

Automation 52

Automation Regulations Compliance Legal 52

Global Fintech & Digital Assets

NOVEMBER 2, 2023

According to FinCEN, mixers are generally required to register with FinCEN if they do business as money transmitters wholly or in substantial part in the US. However, the NPRM states that “no CVC mixers are currently registered with FinCEN.”

Fincen 52

Fincen Money Laundering Law Enforcement Non-Bank 52

Nanonets

MAY 7, 2024

This process is essential for maintaining financial accuracy, compliance with regulations, and preventing fraud or errors. Compliance and Regulation : Expense reconciliation is crucial for compliance with financial regulations and standards.

Reconciliation 52

Reconciliation Best Practices Credit Cards Compliance 52

Nanonets

APRIL 2, 2024

Compliance with Regulations: In today's regulatory environment, adherence to financial regulations and reporting requirements is non-negotiable. Bank reconciliation plays a crucial role in ensuring compliance with regulatory standards by providing accurate and reliable financial information.

Reconciliation 52

Reconciliation Adjustments Automation Regulatory Compliance 52

Nanonets

NOVEMBER 29, 2023

Understanding Document Approval Processes Document approval is a critical business process involving the review, verification, and authorization of documents before they are finalized and put into effect. In critical areas like finance or legal, delays can result in non-compliance with regulations and financial penalties.

Automation 52

Automation Legal Compliance Process 52

Nanonets

SEPTEMBER 23, 2023

By automating tax calculations and generating reports, accounting software streamlines the process of preparing and filing tax returns. With built-in tax features and up-to-date tax regulations, the software helps businesses stay compliant with tax laws and avoid costly errors.

Small Business 52

Small Business Accounts Automation Compliance 52

Nanonets

SEPTEMBER 23, 2023

Encumbrance Accounting in Different Sectors Encumbrance accounting is utilized differently in government, public sector, and non-profit organizations, with unique requirements and regulations to ensure transparent financial management.

Accounts 52

Accounts Governance Government Payroll 52

EBizCharge

AUGUST 21, 2024

Objectives may include improving the accuracy of cost tracking, enhancing profitability analysis, complying with industry standards and regulations, or providing more detailed financial information to stakeholders. It also provides accurate and timely financial reports, which are integral to financial management and resource management.

Accounts 52

Accounts Assessments Fraud Prevention Best Practices 52

FloQast

DECEMBER 13, 2023

Prior to the Sarbanes-Oxley Act (SOX), the last time we saw major changes in how public companies operate and report financial results was during the Great Depression. The lack of stock market regulations allowed for easy market manipulation and fraudulent activities. Enter the Sarbanes-Oxley Act (SOX) of 2002.

Compliance 52

Compliance Audit White Collar Crime Risk Assessment 52

Nanonets

FEBRUARY 9, 2024

ICFR runs the gamut of control systems and processes a company takes to ensure the validity of its financial statements and stay out of hot water with regulators, investors, and stakeholders. It may include approvals, authorizations, reconciliations, and similar controls. What Should Your Team Do To Ensure Compliance & ICFR?

Audit 52

Audit Risk Assessment Assessments Procedures 52

EBizCharge

SEPTEMBER 6, 2024

Sales tax management Sales tax management features are essential for businesses operating across multiple regions with varying tax rates and regulations. Additionally, these features often provide detailed reporting and documentation, making it easier for businesses to file accurate tax returns and maintain transparency with tax authorities.

Accounts 52

Accounts CRM Automation Audit 52

Nanonets

AUGUST 1, 2023

This can include individuals responsible for verifying line items, checking for contract compliance, or authorizing payments. Audit Trail and Reporting: Throughout the automated procure-to-pay process, the system maintains a comprehensive audit trail, documenting each action taken on the documents.

Automation 40

Automation Payment APIs and Integration Audit Rules 40

Nanonets

JANUARY 17, 2024

With ever-changing regulations, managing compliance manually is like juggling dynamite. InnovateX adopted an expense system that automatically updated with the latest tax and regulatory requirements, ensuring compliance and avoiding a potential hefty fine due to an overlooked tax regulation.

Payment APIs and Integration 52

Payment APIs and Integration Compliance Automation Audit 52

The Payments Association

APRIL 14, 2025

Payments regulation roadmap: Q2 2025 14 April 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is the roadmap about? This Payments Regulation Roadmap for Q2 2025 provides a high-level yet actionable view of the key developments shaping the sector. Why is it important?

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88

Neopay

JANUARY 27, 2025

The FCA’s commitment to growth The Financial Conduct Authority (FCA) has echoed the government’s focus on growth in a recent letter to the Prime Minister and Chancellor. Simplifying reporting requirements and ensuring proportionate regulation.

Compliance 52

Compliance Governance Government Duplicate 52

Neopay

APRIL 14, 2025

As the Financial Conduct Authority (FCA) has proposed significant changes to the e-money and payment companies’ safeguarding regime, there are fears among many firms about the effects the new regulations will have on their businesses. The interim rules aim to enhance firms’ adherence to existing safeguarding obligations.

Audit 59

Audit Due Diligence Compliance Rules 59

Nanonets

APRIL 7, 2025

Regulatory data extraction manages compliance documentation, quality metrics, and reporting requirements for healthcare governing bodies. Managing regulatory compliance across jurisdictions Healthcare organizations must navigate complex regulatory requirements that vary by location, specialty, and facility type.

Automation 52

Automation Regulatory Compliance Compliance Payment APIs and Integration 52

FICO

DECEMBER 15, 2020

On December 18, the Bureau issued a Part 2 final rule detailing disclosures for the collection of time-barred debt, changes to the validation notice, and furnisher credit reporting requirements. In short, I believe the new debt collection rules will largely remain intact, at least for the foreseeable future.

BSA 52

BSA Suspicious Activity Report (SAR) Financial Inclusion AML 52