PYMNTS

JANUARY 10, 2020

Chinese eCommerce and social media startup Xiaohongshu , also known as “Little Red Book,” wants to raise funds at a $6 billion valuation, according to Bloomberg. It eventually entered that field itself, and then it became a social media platform. It’s teamed up with a financial plan adviser to identify possible investors.

social media 131

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Abrigo

JANUARY 31, 2025

Loose government regulation : The lack of regulation in the crypto space can create opportunities for fraudulent schemes. Although the regulatory agencies have pushed for enhanced regulation , it is unlikely that the incoming administration will call for oversight anytime soon. Global targeting: The U.S.

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Abrigo

FEBRUARY 28, 2025

Variations include: Pig butchering scams Scammers build relationships with victims through social media or dating apps, persuading them to invest in cryptocurrency or other financial opportunities. These scams often take place on dating apps and social media.

Fraud 221

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PYMNTS

NOVEMBER 9, 2020

Regulation. EU Gears Up To Propose New Big Tech Regulations. Australian Regulator Looks Into Merger Law Changes. million) penalty for not following a new social media law, Reuters reported, citing Omer Fatih Sayan, the deputy transport and infrastructure minister.

Regulation 211

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PYMNTS

SEPTEMBER 21, 2020

In a bit of high-tech saber-rattling, Facebook is threatening to pull the plug on its social media platform in the European Union if a controversial decision by Irish regulators is allowed to stand. according to Metro. government.

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PYMNTS

JUNE 23, 2019

BIS said that the social media firm’s recent announcement that it aims to roll out its Libra digital currency and grow into payments has focused the minds of central bankers as well as regulators, Reuters reported. The Bank of England approaches Libra with an open mind but not an open door,” Carney said, per a Reuters report.

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PYMNTS

NOVEMBER 23, 2020

Here’s the latest news from the technology industry, which is coming under increasing scrutiny from regulators around the world. EU Auditors: European Commission Needs To ‘Scale Up’ Regulation. New Digital Regulations Could Let EU Ban Tech Firms. 34 States Unveil $113M Settlement Against Apple For Alleged iPhone ‘Throttling’ .

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PYMNTS

SEPTEMBER 16, 2019

Regulation could be the answer, some companies have speculated, and Unilever said it is all for tackling the problem aggressively. As social media influencers are reaching mainstream status, they can ask for upwards of $22,000 per post. The 15 percent is an average. Some are going to have bought half of their followers.”.

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PYMNTS

OCTOBER 16, 2020

Facebook’s Ireland and United Kingdom unit has agreed to change the way Instagram works to “make it much harder for people to post an (advertisement) on Instagram without labelling it as such,” Britain’s top antitrust regulator announced Friday (Oct.

social media 212

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PYMNTS

MAY 18, 2020

Thierry Breton , EU tech chief, warns of more regulations for Facebook if the social media giant doesn’t mitigate apprehension about its market power and abuses on its platform, according to Bloomberg. I don’t think there’s a question there’s going to be regulation,” Zuckerberg said, according to Bloomberg. “I

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PYMNTS

NOVEMBER 18, 2018

Apple ’s CEO believes that new regulations for the tech industry are “inevitable.”. According to the Financial Times , Tim Cook said in an interview that “the free market is not working” and that the tech industry should embrace regulation. Generally speaking, I am not a big fan of regulation,” he said.

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PYMNTS

NOVEMBER 2, 2020

Regulation. The Digital Services Act will be one of the regulations, which Vestager said will revise the eCommerce Directive and will make digital services take additional responsibility for contending with “illegal content and dangerous products.”. The Digital Markets Act is a second set of regulations. each month.

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PYMNTS

OCTOBER 19, 2020

and Europe to develop tough new regulations to take on big tech, according to a Reuters report on Monday (Oct. EU antitrust regulators in August started probing a $2.1 In the September PYMNTS big tech compliance tracker tracker, Facebook considered pulling out of the EU over regulations. Japan is teaming up with the U.S.

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PYMNTS

FEBRUARY 18, 2019

Facebook , which has been under fire for months over data scandals, expressed openness to new regulation. According to a report in Reuters citing Facebook’s public policy manager Karim Palant, the executive said the social media giant is “open to meaningful regulation.” Google in 2012 paid $22.5

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PYMNTS

MARCH 18, 2019

It’s been a whirlwind few weeks — OK, make that months — for big tech firms as regulators look ever more closely at business tactics. Laws would mean the social media giant would have to get user consent to access the data that is in turn used by Facebook’s advertising customers.

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PYMNTS

FEBRUARY 17, 2020

Breton said he’ll decide by the end of the year if he wants to adopt a set of stringent rules as a way for the EU to set out ironclad responsibilities for social media platforms and regulate them. He said any regulations should take this into account.

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PYMNTS

OCTOBER 4, 2020

Facebook bought Instagram, the photo- and video-sharing social networking service, in 2012 for $1 billion and WhatsApp, the cross-platform messaging service, in 2014 for $19 billion. He said it was a natural extension of its global social media business and not an attempt to remove a potential competitor from the marketplace. “It

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PYMNTS

MARCH 3, 2020

The wisdom of crowds, gleaned from social media, can paint a gestalt picture of how a government agency’s, bank’s or retailer’s efforts are being received on the ground, so to speak. And it can also (perhaps), fed through models and analytics, can bolster decision-making for the greater, common good. Ethical AI.

social media 214

social media Data Analysis Analytics 214

PYMNTS

DECEMBER 16, 2018

Facebook , the beleaguered social media giant that is facing intense scrutiny into its business practices, could be on the hook for a multibillion dollar fine, reported CNN. It confirmed to CNN late last week that it started a “statutory” inquiry into the social media giant after it received several reports of data breaches.

Data 202

Data social media Regulation Report 202

PYMNTS

OCTOBER 21, 2020

The social media giant has begun testing a new feature in Canada, dubbed Neighborhoods, that would steal a page from Nextdoor’s playbook and allow users to link up through community-based groups, according to engadget. The pilot program was spotted by Matt Navarra, a social media consultant.

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Community social media United States Report 200

PYMNTS

MARCH 31, 2019

Facebook CEO Mark Zuckerberg wrote an opinion piece in The Washington Post calling on regulators to take a “more active role” in making rules for how to police the internet, according to reports. “By

Regulation 151

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PYMNTS

FEBRUARY 5, 2020

In the middle are the consumers whose data fuels eCommerce, social media and basically the entire internet as we know it. The Merchants’ Guide to Navigating Global Payments Regulations , powered by Ekata, dives deep into this complex and unsettled topic, from possible abrupt retail impacts to long-term open banking repercussions.

Google 288

Google Data Regulation social media 288

PYMNTS

SEPTEMBER 4, 2020

4) that she sees the need for more global regulation of social media and at the same time is concerned free speech is at risk. “If If regulation gets too heavy, it actually will impact freedom of speech very heavily,” former Danish Prime Minister Helle Thorning-Schmidt told CNBC’s “Squawk Box Europe.”. “I

Regulation 130

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PYMNTS

JANUARY 18, 2022

18) that it plans to regulate cryptocurrency advertising like other financial products and ensure that promotions are “fair, clear and not misleading,” according to a Bloomberg report. 17), Spain’s market regulator enhanced controls on crypto-related ads, saying they must include a warning that investors risk losing all their money.

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PYMNTS

FEBRUARY 16, 2020

Facebook is something in between a newspaper and a telecommunications company, said CEO Mark Zuckerberg , and he wants it to be regulated accordingly, The Wall Street Journal reported. And in comments made last March, he said he believes more regulation is needed on social media companies.

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PYMNTS

DECEMBER 4, 2019

Federal banking regulators support using alternative methods to assess creditworthiness to help high-risk people get loans, The Wall Street Journal (WSJ) reported on Tuesday (Dec. The regulators added that agencies choosing to tap into alternative data should do so judiciously.

Regulation 136

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PYMNTS

JUNE 29, 2020

Small- to medium-sized businesses (SMBs) have been especially hard hit, as many have pivoted quickly to enable online transactions and adhere to the regulations that often accompany them. The health crisis has brought about changes to this rule, however, and these may have long-term implications for payment standards and regulations.

How To 239

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Chris Skinner

MAY 20, 2016

I just received a white paper about Social KYC from Fintech startup Veridu. The idea is to use our social media profiles to authenticate and onboard as a new 21st century KYC process.

social media 258

social media Fintech Regulation Payments 258

PYMNTS

SEPTEMBER 30, 2020

Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. The pandemic is dramatically altering how merchants can transact, which data they can store and where they can store it, however.

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Regulation Data Regional Examples 175

PYMNTS

MAY 16, 2019

Across the European Union (EU), technology providers and social media platforms are increasingly playing a bigger role in the Open Banking ecosystem. At the same time, however, many players, like Facebook and Google , are squaring off against regulators that are looking at their data and payment policies with more scrutiny.

social media 161

social media Compliance Data Innovation 161

PYMNTS

JUNE 24, 2019

This means Libra is likely to see more scrutiny from regulators as the project takes shape and eventually launches. That sentiment was reflected in part by the Bank for International Settlements (BIS), which said this past weekend that there should be coordinated regulations on cryptocurrencies. Beyond Cryptocurrencies.

Regulation 129

Regulation social media cryptocurrency United States 129

PYMNTS

JANUARY 3, 2019

You can be sure that one area of regression involves social media. New research, in fact, supports that idea — specifically, the high value that consumers attach to Facebook , and the high cost it would take to make them leave the social media platform. But that doesn’t mean consumers plan to leave Facebook anytime soon.

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Perficient

MARCH 25, 2025

Establish a single source of truth Create a glossary that doesn’t read like a legal document Accept that these definitions will change more often than a teenager’s social media profile It’s not perfect, but it’s governance, not a philosophical treatise on the nature of reality.

Data 221

Data Case Study Compliance Regional 221

PYMNTS

DECEMBER 31, 2018

Some popular apps for Android smartphones are feeding data to Facebook without user consent, which could be a breach of the European Union’s (EU’s) General Data Protection Regulation ( GDPR ). The report came as the social media giant already faces issues related to GDPR. million USD), whichever is greater.

Data 189

Data social media Regulation Analytics 189

PYMNTS

JUNE 24, 2020

The Central Bank’s decision is a setback for the social media giant. Tiago Severo Gomes , a partner at Caputo, Bastos and Serra and a specialist in FinTechs and banking regulation, said the Central Bank’s order, since there was no further argument, was an unusual move in the field of payments.

Payments 282

Payments social media System Regulation 282

PYMNTS

MAY 20, 2020

European Union (EU) regulators want feedback from users and digital service providers before they craft new rules that could manage giant tech firms Google, Facebook, Amazon and Uber, Reuters reported. Facebook Founder and CEO Mark Zuckerberg published “Charting the Way Forward: Online Content Regulation.”

Regulation 131

Regulation social media Google Survey 131

American Banker

SEPTEMBER 15, 2023

The American Bankers Association found that 89% of the banks it surveyed feel that social media is important. But there is room for improvement in their practices.

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social media Survey Compliance Technology 81