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The High Cost Of KYC And AML Security Lapses

PYMNTS

percent: Projected CAGR of the global AML software market as measured from 2019 to 2026. 770,000: USD equivalent that Soneri Bank Limited was ordered to pay by the State Bank of Pakistan for violating AML, KYC and other regulations. 10,000: Number of KYC images from crypto exchange Binance allegedly accessed by a cybercriminal.

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The CFPB section 1071 effective date

Abrigo

June 28, 2023, based on the Code of Federal Regulations and the March 30 publication). The final rule implements section 1071 of the Dodd-Frank Act by amending the Equal Credit Opportunity Act (ECOA), or Regulation B. During 2025, this type of institution needs to collect data for the entire year and report it by June 1, 2026.

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Libra Forces Cryptocurrency Regulators To Reexamine Procedures

PYMNTS

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. percent from 2019 to 2026, the technologies’ high costs and lack of skilled IT professionals prevent the market from doing so more quickly. Cryptocurrency and Blockchain.

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Connected Vehicle Security Takes A Spot In The Front Seat

PYMNTS

It’s hardly news that consumers (along with regulators and politicians) are becoming increasingly focused on privacy and online security. These worries regarding connected vehicles are, in a broader sense, tied into larger security issues involving the Internet of Things (IoT) — to which all those cars and trucks will connect.

Security 119
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Apple Supplier Murata Anticipates 5G Phones To Top 500 Million

PYMNTS

Murata said it is the global leader in multilayer ceramic capacitors, which are used to regulate electric flow in circuit boards, powering electronics from smartphones to cars. Oppo and Vivo are vying to secure components for their devices, hoping to fill a void as Huawei’s mobile business shrinks under the weight of U.S.

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Deep Dive: Making Smarter Payments Safer

PYMNTS

They must deliver services that customers and clients demand while securing their personal data. In this month’s Deep Dive, PYMNTS examines how data can improve customers’ experiences, and how regulations can keep their data safe. billion payments by 2026. Other data-focused regulations also went into effect this year.

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Uber’s Rough Ride Of A Week

PYMNTS

At the time, Uber – at the directive of its chief security officer – hid the breach and paid hackers about $100,000 to destroy the data. The ride-sharing company said that no Social Security numbers, credit card information, trip location details or other data were taken. Privacy regulators for the European Union said Wednesday (Nov.

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