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Bank Of England Tells HSBC To Tighten Fraud, Staff Compliance

PYMNTS

The Bank of England has told HSBC to improve compliance controls for non-fiscal factors like fraud and staff conduct, according to a report by Reuters. Samir Assaf, HSBC head of global banking and markets, shared the news with other seniors bankers on Tuesday (Nov. HSBC CFO Ewen Stevenson announced plans to restructure the U.K.

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CMA Chair Says Regulation On Big Digital Mergers Has Been Lax

PYMNTS

Andrew Tyrie, chairman of the Competition and Markets Authority (CMA), a competition regulator in the U.K., He spoke at a CMA conference on Tuesday (March) and said there had “probably been underenforcement of merger control in digital markets.” Facebook acquired Instagram for $1 billion in 2012 and WhatsApp for $19 billion in 2014.

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Buying into AML risks in real estate

Abrigo

Key Takeaways Real estate markets are vulnerable to money laundering and fraud because of their transaction size and appreciation over time. The real estate market is enticing to more than just new homeowners or investors. Real estate market AML risks Real estate is a proven, traditional, and well-established marketplace.

El Paso 195
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Indictment Names Major Banks In Cum-Ex Case

PYMNTS

A German investigation of Cum-Ex tax deals involves as much as 447.5 Cum-Ex deals, which are no longer allowed, involved taking advantage of a German practice on tax refunds for dividends. When they were in use, an entity paying dividends withheld the tax automatically, but the payment was certified by the shareholder’s bank.

Taxes 108
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It’s Not Easy Being Green: Cannabis Payments

PYMNTS

And then, in 2012, the situation got even more complicated. All panel members agreed that forcing a multi-billion-dollar-a-year vertical to operate in a cash-dominated, semi-black market when it comes to financial services is not sustainable — or smart. Higher Risk Than Necessary. No Silver Bullets.

Payments 123
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Stripe Teardown: How The $35B Payments Company Plans To Supercharge Online Retail

CB Insights

Brothers Patrick and John Collison founded Stripe in 2010 in an attempt to gain share in online payments, a then-nascent market with seemingly boundless growth opportunity. Market opportunity. Fraud prevention tools. Stripe is ramping up its private market investments. Expansion into emerging markets.

Online 98
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California unemployment benefits guide

Current

Download and print tax information. Your bank accounting and routing number: You can receive your tax refund via direct deposit. Keep Your Claim Honest Unemployment benefits are made for those who lost their jobs due to things like pandemics, market downturns, or financial unrest. Loss of future tax refunds. Hefty fees.