PYMNTS

JULY 17, 2020

Chinese regulators have seized control of nine financial institutions (FIs) alleging they violated rules and jeopardized the country’s financial system. Only through a regulator takeover can the problems be forcibly dealt with through administrative measures.”. The regulators insist the takeovers will ensure stability of the firms.

Regulation 151

Regulation Security Regional System 151

PYMNTS

FEBRUARY 25, 2019

The Conference of State Bank Supervisors (CSBS) said earlier this month that it had put in place a set of action items to standardize the national experience of FinTechs and non-bank entities. We have formed a working group of state regulators to develop the model. Our FinTech industry advisory panel did include a few community banks.

Regulation 147

Regulation Fintech Community Bank Community 147

PYMNTS

FEBRUARY 17, 2020

increased regulation over content delivered online through platforms may be on the horizon. This past week, Britain’s federal government said its media regulator, known as Ofcom, would be given new oversight to monitor and regulate material posted on the web by companies such as Facebook, Google and Twitter. In the U.K.,

Regulation 140

Regulation Google Operations Company 140

PYMNTS

SEPTEMBER 1, 2020

The Bank for International Settlements (BIS) said in a recent report that the number of correspondent banks — where banks and financial institutions (and domestic payment systems) are linked together — slipped 3 percent in 2019 vs. 2018 and declined a significant 22 percent from 2011 to 2019. A Reduction In The Number Of Corridors .

blockchain 307

blockchain System National Payments 307

PYMNTS

FEBRUARY 7, 2020

The National Payments Corporation of India (NPCI) provided the firm with permission to put WhatsApp Pay into operation in a phased manner, The Business Standard reported. . Almost two years after its experimental run, the Facebook-owned messaging service WhatsApp has received regulatory approval for its WhatsApp Pay platform in India.

Mobile 267

Mobile Compliance Payments National 267

PYMNTS

DECEMBER 2, 2019

Looking back at 2019, and at cryptocurrencies, we may well make the declaration that fraudsters got a lot more brazen … which may mean 2020 is the year lawmakers and regulators clamp down through a global, concerted effort to root out financial crime. million, was the lowest tally seen in years. North Korea stands out in this respect.

Fraud 130

Fraud Report cryptocurrency National 130

Gonzobanker

DECEMBER 20, 2019

GonzoBankers, 2019 was a year of extremes. Third, read and enjoy the 2019 edition of the GonzoBanker Awards, our 18 th. Mark Turner, Executive Chairman of the Board, WSFS Bank – We have to give the nod to an early 2019 retirement of Turner, who had one hell of a run in 12 years at the helm of a great community and wealth bank.

Idaho 148

Idaho Conference Data Marketing 148

PYMNTS

JANUARY 25, 2021

In today’s top payments news around the world, India’s central bank wants stricter regulations for big shadow lenders, while global foreign direct investment (FDI) dropped last year and the pandemic will continue to impact it this year. The central bank of India wants more stringent regulations for large shadow lenders.

United States 217

United States Regulation Payments Lending 217

Perficient

AUGUST 16, 2023

Heartland Tri-State began operations in 1985 under the name First National Bank of Elkhart. In 2017, the bank was converted from its National Charter to a Kansas state-chartered bank and renamed Heartland Tri-State Bank. In 2019, it expanded by buying its fourth branch from a competitor.

United States 221

United States Kansas FDIC Risk Management 221

PYMNTS

JULY 7, 2020

Regulators are taking in an interest in stablecoins, with the Financial Action Task Force (FATF) noting in a report the digital currencies need to adhere to norms to offer protection from the terrorism financing and money laundering, Bloomberg reported. Swipe, for its part, is available in 31 nations in the European Economic Area.

blockchain 163

blockchain Regulation Data Cards 163

PYMNTS

DECEMBER 8, 2020

Cybercriminals are constantly one step ahead of government regulators, developing new and inventive schemes faster than the authorities can quash them. billion in 2019, including $2.8 Many banks and government regulators have a growing sense of distrust in cryptocurrency exchanges due to this widespread lack of compliance.

cryptocurrency 261

cryptocurrency Mobile Compliance Analysis 261

PYMNTS

DECEMBER 7, 2018

Not to ruin your holiday spirit, but let’s start this story with the cold and brutal truth: One of the largest risks that payments and commerce operators face in 2019 is being called to account by government officials, regulators or media about a failure to secure their organizations from cyberattacks. and other places.

Payments 240

Payments Tools Security Regulation 240

PYMNTS

DECEMBER 27, 2019

By the numbers, it is hard to deny in the closing days of 2019 that instant payments, as observed by the PYMNTS Instant Payments Tracker , have hit their stride and are no longer a P2P payments tool for gig economy workers. In 2017 only 11 percent of consumers in a national study of the U.S. Here are four on that list.

Payments 139

Payments Innovation Study Data 139

PYMNTS

OCTOBER 13, 2020

Across the globe, terrorists and criminals are leveraging cryptos in what is gearing up to be a significant national security threat to the United States. The report relays a series of anecdotes, such as Ponzi schemes and other fraudulent methods , and points out that in 2019, over $4.5 That’s according to the U.S.

cryptocurrency 206

cryptocurrency United States social media Regulation 206

Insights on Business

JANUARY 9, 2019

Highlights of the regulator’s guidance. In the statement, regulators have provided leeway to create innovative new approaches. Regulators also encouraged “early engagement” from banks to discuss contemplated pilot programs for innovative AML processes. A new approach to AML.

Innovation 126

Innovation Regulation Technology Maine 126

CFPB Monitor

MARCH 30, 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes the following key provisions that affect financial institutions and regulation of financial institutions: Section 4003 – Emergency Relief and Taxpayer Provisions. Section 4008 – Debt Guaranty Authority.

Regulation 122

Regulation United States Community Bank National 122

PYMNTS

DECEMBER 16, 2020

More than 100,000 eateries — or about one in six restaurants nationwide — have closed due to the pandemic, according to National Restaurant Association estimates. More than $134 million was lost to such scams in 2019, according to the Federal Trade Commission (FTC), while $117 million was lost to them during the first half of 2020 alone.

Fraud 310

Fraud social media Mobile Trends 310

PYMNTS

SEPTEMBER 24, 2020

These types of payment flows made up 5 percent or more of the gross domestic product (GDP) for 66 countries in 2019, reaching as high as 20 percent of GDP in nations like Haiti and Nepal. . Maintaining compliance with these important regulations can be challenging, but FIs cannot afford to slip up. The Cost of Compliance .

Compliance 223

Compliance Tools Fraud Regulation 223

PYMNTS

DECEMBER 23, 2019

This year, 2019, the average American will spend three hours and 43 minutes per day on mobile devices, just ahead of the three hours and 35 minutes spent watching television. Visner of the National Cybersecurity Federally Funded Research and Development Center ( FFRDC ). They do, in fact, put their pants on one leg at a time.

Lending 131

Lending National System Management 131

PYMNTS

OCTOBER 8, 2018

In other news, regulators in the European Union are looking at initial coin offerings (ICOs) to determine if they need to be regulated, Reuters reported. The European Securities and Markets Authority (ESMA) along with national regulators are looking into ICOs on a case-by-case basis. telephone number management.”

blockchain 176

blockchain Bitcoin Regulation Security 176

Abrigo

JANUARY 11, 2023

In January 2019, there were approximately 450 reported incidents, with a jump to about 540 in February. It dropped down to 140 incidents in March 2019. Institute Against Human Trafficking reported that the 2020 Super Bowl in Miami saw a 163% increase in human trafficking reports to the national hotline over the course of the event.

Training 195

Training Software Tampa Regulation 195

PYMNTS

FEBRUARY 21, 2020

regulators to secure a national bank charter, in turn clearing the runway for the entity to accept consumer deposits. the value of contactless commercial card payments (both debit and credit) jumped 24 percent in 2019. Data breaches: MGM has admitted to a 2019 hack , where 10.6 million guests’ data was compromised.

Digital Banking 224

Digital Banking Conference Samsung Fintech 224

PYMNTS

JULY 23, 2020

Regulators in Mexico passed a law governing FinTechs in March 2018, just two months after PSD2 went into effect in the European Union, and others in the region have since followed suit. Brazilian lawmakers have been developing open banking plans since 2019, for example, outlining rough guidelines to be enacted late this year.

America 165

America Regulation Regional Tools 165

PYMNTS

SEPTEMBER 28, 2020

The closes over $10,000 haven't been this high in some time, according to a chart from CoinDesk, with the only dates close being 28 days in July 2019 and 25 days in June 2019. Coin Metrics statistics show that the 180-day returns volatility for bitcoin is down 41 percent so far in September, CoinDesk reported.

Bitcoin 215

Bitcoin cryptocurrency Cards Texas 215

Abrigo

NOVEMBER 21, 2019

The US is at a disadvantage without a national beneficial ownership registry. . FATF, the global standard for fighting money laundering and terrorist financing, published best practices in October 2019 to help countries pierce the ownership veil of legal entities and prevent their misuse for crime and terrorism. Learn More. Learn More.

United States 195

United States Regulation National Taxes 195

PYMNTS

APRIL 24, 2020

The pilot was announced at a promotional event on Wednesday (April 22) that was organized by the National Development and Reform Commission and was attended by representatives from Tencent and Alipay, the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China and the China Construction Bank.

social media 209

social media National Regulation Groups 209

PYMNTS

DECEMBER 9, 2020

FIS and Worldpay combined in mid-2019, Fiserv and First Data combined shortly thereafter and Worldline SA purchased Ingenico earlier this year. Lukies said the balance of regulatory trust has altered, ushering in a wave of regulations like open banking , PSD2 and GDPR. Banks Let Themselves Get Left Behind.

Innovation 306

Innovation Fintech Payments Regulation 306

PYMNTS

SEPTEMBER 21, 2020

As Standard Chartered noted to BuzzFeed in the wake of the FinCEN files report: "In 2019 we monitored more than 1.2 Drill down a bit, and as noted by PYMNTS, the efforts to track and catch the bad guys is akin to playing a game of whack-a-mole. In one example, reported on Monday (Sept. billion in fines.

Fraud 347

Fraud Report System FDIC 347

PYMNTS

APRIL 16, 2020

Regulators and central banks, however, were worried the cryptocurrency could be used in money laundering, make monetary policy unstable and take away users’ privacy. In June 2019, The G20 mandated that FSB look into GSC-related regulatory issues.

cryptocurrency 162

cryptocurrency Regulation Policies National 162

PYMNTS

JUNE 25, 2019

Regulators should see this as a wake-up call to get serious about the privacy and national security concerns, cybersecurity risks, and trading risks that are posed by cryptocurrencies. “The cryptocurrency market currently lacks a clear regulatory framework to provide strong protections for investors, consumers, and the economy.

cryptocurrency 166

cryptocurrency social media Regulation Meeting 166

PYMNTS

SEPTEMBER 23, 2020

A study from the Cifas National Fraud Database found that identity theft against consumers over the age of 61 rose by 22 percent in 2019, contributing to an 18 percent increase in identity theft overall. billion in 2019. British banks spend upward of £6.7 billion ($8.9

Technology 208

Technology Report Fraud Study 208

Chris Skinner

JUNE 8, 2017

As Nick pointed out, historically clearing payments through BACS, CHAPS and the other national networks were controlled by a range of banks but, through consolidation, mergers and acquisitions, we have ended up in a position where only the Big 4 banks offer clearing services.

Branding 206

Branding Meeting System Regulation 206

PYMNTS

APRIL 2, 2019

However, it does struggle in two areas: mid-band spectrum and national strategy. By the latter part of 2019, the U.S. By the latter part of 2019, the U.S. The wireless industry association CTIA released a report that said the U.S., should have 92 commercial 5G deployments , versus south Korea’s 48, 16 in the U.K. While the U.S.

US 160

US Policies United States Leadership 160

Abrigo

JULY 1, 2021

By Vanessa Russell, Founder and Executive Director of Love Never Fails According to the National Human Trafficking Hotline , working in the financial industry provides you the opportunity to report suspicious behavior involving 92% of the various types of human trafficking. BSA Rules and Regulation. Let’s keep it going! BSA Training.

Training 370

Training Conference Community Video 370

PYMNTS

JANUARY 4, 2019

That caution extends to all manner of considerations in the realm, including the issuance of a state-backed cryptocurrency, and even the regulation of the digital currencies. And, as newbtc.com reported , there no longer are plans for the Reserve Bank of India to launch a national digital currency. One cue might come from the U.S.

cryptocurrency 139

cryptocurrency Study National Course 139

PYMNTS

JANUARY 2, 2020

The finance ministry in India passed a new regulation saying that companies with sales of more than ?50 The new regulation went into effect on Jan. RuPay is a payment network offered by National Payments Corp. 1 , and penalties will start on Feb 1, to give businesses a chance to comply.

Cards 130

Cards blockchain Retail Cyber Security 130

Abrigo

JANUARY 27, 2020

The National Credit Union Administration (NCUA) has been working on their share of goal setting, as they have released their 2020 supervisory priorities for credit unions, regulation updates, and the agency’s modernization programs. “We BSA Rules and Regulation. The new year often brings a time of reflection and goal setting.

Risk Management 195

Risk Management Regulation Report Management 195