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What You Need to Know about Singapore’s Upcoming Shared Responsibility Framework

Fintech News

The Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA) will implement the Shared Responsibility Framework (SRF) for phishing scams on 16 December 2024. Duties of FIs and PSPs FIs and PSPs must implement several anti-scam measures to prevent unauthorized access and detect phishing threats.

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Decoding the FCA’s Safeguarding reforms: Practical steps for payments and E-money firms

The Payments Association

Introduction of resolution packs : These packs must include essential documents and information that would facilitate swift action during insolvency, reducing delays in fund distribution to customers. Safeguarding audits: Firms are required to arrange safeguarding audits to assess compliance with the rules.

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Crypto Leaves the Wild West Behind as Regulations Take Over

Fintech News

Although the industry experienced breakneck growth, it also opened the floodgates to scams, volatility, and criminal misuse. From recent crackdowns in Thailand to swift reforms in Singapore, the message is clear: compliance is the new currency of credibility in crypto.

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ACI Worldwide Extends Fintech Partnership Ecosystem to Fight APP Fraud in Europe and the UK

Fintech Finance

This extra security helps consumers avoid making accidental payments to the wrong account holder and provides another layer of protection in the fight against fraud and identity scams. Account verification services are a critical component of modern payment systems. VOP is a key requirement as part of Europes Instant Payment Regulation.

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Payments trends report 2024

The Payments Association

dollar’s dominance in SWIFT transactions, remain critical for cross-border strategies, offering further opportunities to optimise international payment flows. On a global scale, international currency trends, such as the U.S.

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Build vs buy? Strategic decisions in financial crime management

The Payments Association

trillion in illegal funds circulated globally, with fraud and scams contributing to $485.6 Financial criminals are exploiting digital advancements and deploying sophisticated tools like AI to breach systems, pressuring financial institutions (FIs) to respond with equally advanced defences. billion in losses in 2023 alone.

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Tensec raises $12M to boost growth

Payments Dive

Tensec, like other cross-border fintechs, says it’s “ targeting the massive cross-border payments infrastructure that still runs on 40-year-old SWIFT technology.” “We’re flipping the model by empowering global trading companies to deliver these services directly to their partners—making global commerce faster, cheaper and more accessible.”