PYMNTS

JUNE 28, 2018

But the recent thefts, along with other attempted and completed cyberattacks, demonstrate why payments officials in the region are expressing fresh concern about financial security there. Fraud is a Top Worry. Evidence of that comes from Swift’s Latin America Regional Conference , held earlier this month in Miami.

America 102

America Security Miami Conference 102

PYMNTS

FEBRUARY 21, 2018

A former cryptocurrency exchange and its founder are facing charges from the Securities and Exchange Commission (SEC), the agency announced in a press release on Wednesday (Feb. Montroll operated an unregistered online securities exchange and defrauded its users by misappropriating their bitcoins.

Fraud 102

Fraud Bitcoin New York Regional 102

PYMNTS

FEBRUARY 4, 2020

Open Banking’s European success has kicked off interest in similar regulations worldwide, most notably in China, India and Singapore, where digital banking’s popularity among general consumers is rapidly rising. Numerous regions then announced internal deadlines for compliance that often diverged from their neighbors’ deadlines.

Fraud 144

Fraud Regulation Compliance Innovation 144

PYMNTS

APRIL 25, 2019

This is especially true in areas like the European Union, where the General Data Protection Regulation ( GDPR ) is changing how customers and corporates approach data sharing. Security and the Homesharing Platform. The company also works with several security providers to ensure users’ payments remain safe.

Security 100

Security Data Regulation Mobile 100

PYMNTS

MARCH 7, 2019

Merchants and customers are now transacting under PSD2 and GDPR in the European Union (EU) — regulations that allow a greater window into how customer data is being used. While these regulations are aimed at increasing consumer trust by allowing them more transparency, many consumers in the region are still adjusting.

Lending 198

Lending Regulation Regional Data 198

PYMNTS

NOVEMBER 22, 2019

Ongoing security concerns have prompted the Federal Reserve to further scrutinize big tech firms that serve the banking industry, The Wall Street Journal (WSJ) reported on Thursday (Nov. The Bank Service Company Act gives financial regulators the power to audit third-party vendors that offer banking services, Ashton said.

Security 116

Security Policies Conference Compliance 116

PYMNTS

DECEMBER 12, 2019

Players in the sharing economy must contend with an increasingly complex online payments ecosystem as they move into new regions and attract participants to their platforms. Fraud, Payment Regulations Are Affecting Seamless Payments. Renters pay upon booking trips, and owners receive their payments once trips have begun.

Payments 137

Payments Fraud Regulation Innovation 137

PYMNTS

SEPTEMBER 28, 2020

Banks, businesses and consumers fundamentally altered how they interacted with each other in the early months of the COVID-19 pandemic — and regulators tasked with making sure their data and payments are kept safe took notice. Regulators in countries like Egypt have only recently rolled out their data protection rules.

Online 151

Online Report Payments Regulation 151

PYMNTS

NOVEMBER 3, 2020

Lingering economic uncertainty and growing fraud rates in multiple markets are prompting consumers to sharpen their focus on privacy and security. It also details how open banking’s expansion can help businesses build trust with new or existing customers seeking more secure ways to shop. The Pandemic And The Privacy Question .

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Study Data Regulation Digital Banking 192

PYMNTS

NOVEMBER 8, 2020

According to the release, Ripple chose DIFC for its “innovative regulations, expansive network and reputation as a leading global financial centre,” according to the release, with the two companies “aligned” in their visions for the future. Tyler Winklevoss, the co-founder of crypto exchange Gemini, said recently that the tweet from U.S.

Bitcoin 155

Bitcoin blockchain Fraud Conference 155

PYMNTS

NOVEMBER 8, 2020

Now, Reuters reported Amazon is lodging a complaint with India's market regulator. The whole controversy has likely damaged Amazon's ties with Ambani, who is Asia's richest man, and the Reliance group, fast spreading in the region as a leader in eCommerce. But Future said that order is non-binding. On Saturday (Nov.

Retail 230

Retail Industry Regional Groups 230

FICO

MARCH 10, 2022

I’ve been writing recently about the results of our recent global consumer fraud survey. But like most things, it’s not as simple as it sounds, as large customer groups are likely to switch banks if they are dissatisfied with their response to a fraud management incident (more on that in a moment). a biometric). a biometric).

Fraud 52

Fraud Survey Cards Customer Experience 52

PYMNTS

MAY 20, 2020

Making cross-border payments in the EU therefore requires interconnectivity between the regions’ various real-time payments rails. This marked the first real-time payments regulatory framework in the region that addressed all EU countries. Official guidelines and regulations can only go so far, however.

Payments 210

Payments Guidelines Regional Strategy 210

PYMNTS

JULY 16, 2020

Companies will have to choose between whether to move personal data to servers in Europe or stop doing business in the region. The European Court of Justice’s ruling comes as the healthcare sector is debating security best practices as medical providers and consumers shift to digital channels to minimize the virus’s spread.

Data 212

Data US Regional Resources 212

PYMNTS

JULY 16, 2019

Banks are innovating their application programming interface (API) platforms to allow for more third parties, while online merchants are prepping for a potential loss in revenue due to the security frictions that SCA might bring. Both banks and regulators are re-examining how exactly SCA will affect the financial ecosystem.

Strategy 188

Strategy social media Regulation Retail 188

PYMNTS

APRIL 30, 2020

The COVID-19 pandemic has caused an impact on open banking developments worldwide as regulators, financial institutions (FIs) and businesses set their sights on helping their current customers rather than future innovations. where regulators have been workshopping potential rules for several years. Seventy percent of U.S.

Regulation 188

Regulation Regional Data United States 188

PYMNTS

MARCH 3, 2020

Digital-first transformations can improve personalization and operating efficiencies, but they also bring challenges, including adoption-related costs and new avenues for fraud. Alabama-based Regions Bank deployed advanced ATMs as part of its digital push, replacing human tellers at many of its drive-thrus. million.

ATM 151

ATM Fraud Study Regional 151

PYMNTS

MARCH 28, 2018

With concerns that technology companies can face more regulation, tech stocks were declining all over the globe — with the tech-heavy Nasdaq falling 2.9 According to The Wall Street Journal , on Wednesday (March 28) the Stoxx Europe 600 was trading down in mid-morning action while in Asia tech stocks brought markets in the region lower.

Regulation 108

Regulation Google Regional Marketing 108

FICO

DECEMBER 14, 2021

But European fraud and financial crime have continued to evolve. In the UK, Action Fraud reported several hundreds of cases of people receiving emails claiming to be from the NHS, offering them a vaccine passport, prompting them to click on a link and input their personal and financial details. Related scams have also been on the rise.

Fraud 52

Fraud Management Data Trends 52

PYMNTS

OCTOBER 10, 2019

Consumers have noticed the rising levels of fraud in digital banking, and they are not pleased. Many want more options and control when it comes to their security. percent of customers agreed that mobile transactions would be more secure if the consumers themselves had more control over their authentication options.

Fraud 126

Fraud Digital Banking Strategy Security 126

FICO

JANUARY 22, 2020

There has been a proliferation of real-time payments fraud, as new near-instant payment platforms, including person-to-person (P2P) transfers and mobile payment platforms grow across Asia Pacific. . We recently conducted a survey with banks in the region and found that 4 out of 5 (78 percent) have seen their fraud losses increase.

Survey 52

Survey Fraud Payments Regional 52

PYMNTS

APRIL 18, 2019

The PSD2 -related regulation counts itself among a raft of those set to become law across the continent, focusing on boosting online commerce security by requiring cardholders to provide two forms of identification to verify their identities when transacting. A September to Remember. Those under €30 ($33.93

Fraud 148

Fraud Regulation Compliance Online 148

PYMNTS

FEBRUARY 28, 2020

In a report titled “The Dark Side of Latin America,” IntSights, which monitors cyberthreats, said Latin America is among the top regions for money laundering, done at least in part through cryptocurrency, and that such tactics are favored by organized crime.

America 217

America cryptocurrency Regional ATM 217

PYMNTS

JANUARY 30, 2019

They face the challenge of offering customers a smooth onboarding process while also remaining rigorous in know your customer (KYC) efforts, taking care to remain compliant with local anti-money laundering (AML) regulations that aim to keep criminals from using legitimate operations to move money illegally. News From The AML/KYC Ecosystem .

How To 170

How To blockchain Compliance Regional 170

PYMNTS

AUGUST 11, 2020

Merchants and other online services must be sure these processes are also secure, however, especially as fraud attempts have continued to climb. Many of these digital shoppers are now also weighing the security of this experience as top priority when they go to shop at new online retailers, according to one recent study.

Report 247

Report Guam Hawaii Security 247

PYMNTS

JANUARY 30, 2020

In its Q4 2019 earnings release, Facebook reported a 51 percent spike in expenses for 2019, as the social media platform faces more questions from regulators and policymakers. FICO’s Take on Debit Security. As fraud evolves, old forms of cybersecurity are not enough to keep up criminals’ increasingly innovative attacks.

social media 141

social media Payments ATM Fraud 141

PYMNTS

MAY 23, 2018

A February 2018 study from the Federal Reserve Bank of Minneapolis found that 75 percent of American financial institutions incurred losses due to fraud last year. And with that, governments and security solution providers are stepping into the fray with the aim of combatting fraudsters. DPAs Prepare for Looming GDPR Deadline .

Trends 125

Trends Strategy Minneapolis Fraud 125

PYMNTS

APRIL 20, 2018

To add complication to complexity, changes that many see as regional, such as the second payment services directive (PSD2) in Europe, will have ripple effects across the global regulatory landscape, impacting business, cross-border commerce and fraud mitigation the world over. The Bottom Line. Unintended Consequences.

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Regulation Data Security Regional 105

PYMNTS

OCTOBER 24, 2018

Fraud is a huge consideration for us,” Bonkowski said. Many countries have their own know-your-customer (KYC) and anti-money laundering (AML) regulations, and there was no consistent formula for regulatory and commercial success. The Future of Fraud Protection. It’s really one of the biggest hurdles we need to jump over.”.

Fraud 166

Fraud Cards Online Data 166

PYMNTS

DECEMBER 13, 2018

AriseBank, a startup that ran afoul of regulators in the U.S. The Securities and Exchange Commission (SEC) said it had appointed a receiver to secure AriseBank’s cryptocurrency holdings. with its initial coin offering (ICO), agreed to pay $2.3 million, reported The Wall Street Journal.

Fort Worth 134

Fort Worth cryptocurrency Dallas Regulation 134

PYMNTS

AUGUST 3, 2020

It is unclear whether the bank knew its services were being used to skirt anti-money laundering regulations, the paper reported. ‘Ndrangheta operates from the Calabria region in Southern Italy. .” The FT added: “Since then, more than 30 people have been sentenced for mafia-related crimes linked to the case.”

Regional 362

Regional Online Fintech Regulation 362

PYMNTS

MAY 19, 2017

Even as some countries move away from physical currency in favor of more modern payment methods, demand in larger nations means the Asia-Pacific region is still clinging to cash. With China and India driving economic growth, countries in the Asia-Pacific region are estimated to spend some $8.1 trillion in cash in 2020, marking a 7.5

Report 136

Report Regional Analysis Payments 136

PYMNTS

OCTOBER 8, 2019

14 deadline — regulators in the majority of EEA countries formally confirmed that they would not be enforcing it, and would instead support a phased rollout of SCA. The benefits could be quite significant in terms of providing additional security and, ultimately, a better consumer experience.

Compliance 156

Compliance Security Industry Regulation 156

PYMNTS

SEPTEMBER 24, 2019

That sentiment was underscored earlier this month when South Korea said it would delist a number of altcoins from an exchange over privacy concerns – namely, the anonymous nature of the transactions are at odds with the goals of the Financial Action Task Force (FATF), which include combating money laundering and fraud.

Innovation 182

Innovation Fraud Technology Security 182

PYMNTS

MAY 25, 2018

So it is perhaps with a bit of irony that the eCommerce behemoth known as Amazon , via its Web Services division (AWS), has positioned itself as offering a way for local and regional financial services providers to craft new products, enter new markets and meet the regulatory requirements necessary for worldwide competition.

Regional 109

Regional Regulation Meeting Security 109

PYMNTS

JULY 22, 2019

“If a firm needs to digitally onboard someone and verify them, we can help that company do that fairly seamlessly,” Samer Atassi, regional director, Latin America and Caribbean for Jumio, told PYMNTS in a recent conversation. Opportunity, he noted, abounds. But in markets like Mexico , the challenges are quite different.

Innovation 161

Innovation Payments Regional America 161

PYMNTS

FEBRUARY 4, 2019

A series of regulations was established to encourage a safer, more transparent financial services environment following the 2008 financial crisis. Failure to meet AML/KYC requirement challenges can be costly for FIs, too, with regulators issuing heavy fines for lax security practices or failure to devote sufficient resources to oversight.

How To 161

How To Regulation Compliance Meeting 161