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Business Email Compromise Fraud: Should the Party Best Positioned to Avoid the Fraud Bear the Loss? 

Fintech Weekly

As business email compromise (BEC) cases rise, courts are split on who bears the loss. Learn how the imposter rule and alternative legal frameworks shape liability in BEC disputes.

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The GENIUS Act Passes: 4 Things This Means for Banks and Fintechs

Finovate

The GENIUS Act, however, offers both banks and fintechs a clearer legal framework to issue and use stablecoins since it outlines requirements for licensing, reserves, and oversight. Banks need to stay agile If the House does not pass the GENIUS Act, it can advance its own bill in the form of the STABLE Act or negotiate a compromise.

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The Shifting Landscape of Fraud and Identity in 2024

Fintech News

This collaboration, while essential, requires careful navigation of legal frameworks to ensure effective and compliant information exchange. Jumio highlights how cybercriminals increasingly compromised these methods using information from social media, data breaches, and phishing attacks.

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Seamless Asia 2024: the Future of Finance in APAC with Insights from Intix

The Fintech Times

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.

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Verto using Resistant AI to significantly enhance their document verification process for cross-border payments and FX solutions

Fintech Finance

It is necessary to authenticate an extensive range of documents across diverse formats which can include PDFs, images or scans which originate from multiple countries with unique legal frameworks and documentation standards.

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What is Stopping Blockchain From Seeing the Same Success as AI?

The Fintech Times

Financial institutions hesitate to adopt blockchain without clear, consistent regulatory frameworks, especially when operating across multiple jurisdictions. We are starting to see that shift with the introduction of MiCA in Europe, which aims to create a unified legal framework across the EU for crypto-assets.

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Does the EU Framework for Responsible AI Go Far Enough?

FICO

Last month, the European Commission issued a new legal framework for AI , designed to make the European Union a centre of excellence for trustworthy AI. The new rules divide AI systems into different categories of risk (based on the impact of an error in the AI system) and impose restrictions and requirements based on that risk.

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