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Does GDPR have a silver lining for PCI compliance?

Payments Source

Since the Payment Card Industry Data Security Standard was introduced in 2004, many merchants found compliance to be too arduous or costly and just skipped it, risking fines. But increasingly, other regulations like GDPR are changing the PCI DSS compliance equation.

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Swiss Prosecutors Charge Credit Suisse Over Alleged Drug Money Laundering

PYMNTS

But prosecutors said Credit Suisse had known about the deficiencies since around 2004. PYMNTS writes that banks need to work on compliance with anti-money laundering (AML) regulations, do better at record keeping and watch out for things like transactions that look fishy in some way.

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Could Regulation Prevent The Next Cyberattack?

PYMNTS

That depends, says counterterrorism and cybersecurity expert Richard Clarke, on what companies, banks and regulators are willing to learn from the incident. In 2004, Clarke testified before the 9/11 Commission on the events and conditions that led up to the Sept. s National Health Service. 11, 2001, terrorist attacks.

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SWIFT: The Road To ISO 20022 Adoption

PYMNTS

Cross-border payments are a fragmented space with disparate standards, service levels, and compliance and reporting regulations varying from country to country. In 2004, financial institutions around the world had had enough. The global financial community is well on its way to adopting ISO 20022 as its language for payments.

Community 261
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Prince Charles’ Charity Funded By Company With Russian Ties

PYMNTS

The investigation is centered on Russian investment bank Troika Dialog, with evidence showing that managers funneled money for more than eight years, starting in 2004. Troika has since merged with the country’s biggest high-street bank. Troika’s boss during these transactions was Ruben Vardanyan, who has close ties to Putin.

Company 129
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UBS Dinged Millions For Violating Bank Secrecy Act

PYMNTS

FinCEN said UBSFS kept up the lack of regulation for AML from 2004 to 2014. For more than a decade, UBSFS failed to implement sufficient policies and procedures that adequately addressed the risks associated with the products and services it offered.”.

Policies 137
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Kleptocracy & Foreign Public Corruption: New FinCEN Red Flags

Abrigo

In 2004, the infamous Riggs Bank (Riggs) case brought political corruption to the top of compliance officers’ lists of reasons not to sleep at night. The $25 million assessment was the largest imposed by regulators at that time. financial system and national security as it was in 2004. BSA Rules and Regulation.

Training 195