PYMNTS

JUNE 10, 2020

The EU’s investigative unit will form a task force to examine TikTok’s activities across the 27-nation bloc following a request from a lawmaker concerned about its data collection and its security and privacy risks. EU authorities can fine companies for violations under the General Data Protection Regulation (GDPR).

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Policies Data social media Video 253

PYMNTS

JANUARY 13, 2020

It’s a new year, and in Europe, an expansion of scrutiny and laws governing data sharing. The dawn of 2020 brought a spate of new rules governing data collection and use. Sites are also required to offer free services that inform users when data is being collected and how it may be used. In India, Too. A California CFPB?

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Data social media Regulation California 131

PYMNTS

FEBRUARY 5, 2020

As we know, mostly anonymous corporations have been collecting consumer data online for years, usually without explicit permission, selling it or using it for ad retargeting and personalization. Then, there are the huge data breaches that just keep happening, increasingly to companies with high levels of consumer trust.

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Google Data Regulation social media 288

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.

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Data social media Regulation Report 202

PYMNTS

FEBRUARY 28, 2019

The New York State Department of Financial Services has requested information from Facebook regarding apps that were sending sensitive personal data to the site, according to a report by The Wall Street Journal. The regulator is stepping up an investigation after the report showed the apps sent data like body weight and menstrual cycles.

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PYMNTS

JANUARY 25, 2019

The General Data Protection Regulation (GDPR), which went into effect May of 2018, has had some serious repercussions on tech companies all over Europe, but especially in the U.K. data protection watchdog is looking into the company after it reported “limited fraudulent activity” on some customers’ accounts.

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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

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

JANUARY 18, 2019

Regulators in the United States have reportedly met to discuss levying fines against social media giant Facebook , a punishment that could be sizable in scope and which comes in the wake of privacy violations. The consulting firm had retained data on tens of millions of users, but said it had not in fact held onto that data.

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Abrigo

JULY 13, 2023

Avoid fraud losses from pig butchering scams FinCrime professionals looking to prevent pig butchering scams in the age of cryptocurrency can follow these steps to tighten security. A scam usually begins with online contact via social media or dating apps. Enhance data analytics capabilities : Data is a powerful tool.

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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

JANUARY 25, 2019

The Irish Data Protection Commissioner (DPC) is Twitter’s lead regulator in the European Union. 25), the DPC said it was again looking into the social media giant because of another breach notification it received from the company, according to a report from Reuters. On Friday (Jan.

Data 190

Data social media Compliance Survey 190

PYMNTS

SEPTEMBER 30, 2018

Facebook could get hit with a massive EU fine by a European Union privacy watchdog after the company announced on Friday (Sept 28) it had suffered a Facebook data breach that compromised the accounts of more than 50 million users. billion if regulators find the company violated the bloc’s strict new data privacy law.

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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.

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PYMNTS

APRIL 9, 2019

In the continuing saga focused on user data, how that data is used, and transparency, score one for the Europeans. In news reported early Tuesday (April 9), Facebook has acquiesced to demands from the European Commission and other authorities, and has revised the way it discloses the use of data.

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social media Data Policies New York 100

Abrigo

JULY 10, 2023

Here are several suggestions for tightening security. Takeaway 2 Improving security questions is a good step to take to avoid text-to-speech AI fraud schemes. Public social media sources have made it easier for fraudsters to obtain information by looking at what people post online.

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Fraud How To social media Security 150

Abrigo

JANUARY 4, 2023

banking regulators recently warned financial institutions that dealing with cryptocurrency exposes them to an array of risks. Social media scams: The FTC reports that half of those who have reported crypto losses since 2021 said the scam began with an ad, post, or message on social media. Red flag guidance.

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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.

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social media Compliance Innovation Data 161

PYMNTS

DECEMBER 12, 2019

The China Securities Regulatory Commission , China’s security watchdog, is setting up a technology regulation bureau and will announce Yao Qian as its new department chief, the Chinese business publication Caijing said on Wednesday (Dec. 11), as reported by Coindesk.

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Bitcoin Fraud Regulation social media 131

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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social media Study San Francisco Data 186

South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. Unfortunately, most banks don’t gather fraud data across payment channels or track “pre-crime events.”

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PYMNTS

OCTOBER 5, 2018

Users could find data about their location in the activity log of their Facebook profiles, the report said. The news of this possible change in privacy setting comes as Instagram steps up its efforts to bring commerce onto its social media network. It faces a $1.63 It faces a $1.63

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PYMNTS

DECEMBER 16, 2020

Facebook is concerned about EU’s privacy controls, some of the strictest on the planet, which “give granular control to users over data about them,” Reuters reported, citing people familiar with the company. users will remain subject to British privacy laws, which follow the European Union’s General Data Protection Regulation ( GDPR ) regime.

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California Report social media United States 213

PYMNTS

AUGUST 7, 2019

Twitter has admitted to ad-targeting data breaches in regard to user permissions, according to reports. If you clicked or viewed an advertisement for a mobile application and subsequently interacted with the mobile application since May 2018, we may have shared certain data (e.g., Twitter said it fixed the issues on Aug.

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Data social media Mobile US 122

PYMNTS

MARCH 14, 2019

Facebook is the subject of a criminal investigation by federal prosecutors over the data deals it inked with some of the biggest technology companies, reported The New York Times. Both of the companies had inked partnerships with Facebook in which they got access to the data on hundreds of millions of Facebook users.

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New York Data social media California 122

PYMNTS

JUNE 27, 2019

The head of Germany’s Federal Cartel Office said on Thursday (June 27) that cryptocurrency backed by large tech companies could be put under a microscope by antitrust regulators, according to a report by Reuters. In February, the Federal Cartel Office ruled that Facebook had to reduce its data collection protocols.

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PYMNTS

DECEMBER 17, 2020

In a press release, the companies said that their integrated products would comply with the latest regulations. These include: PSD2, a European regulation for electronic payment services, along with 3DS2, a multi-factor authentication setup used to confirm digital identity during eCommerce checkout.

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PYMNTS

DECEMBER 16, 2020

The December Mobile Order-Ahead Tracker ® explores the latest digital ordering developments, including how restaurants can apply the lessons they have learned in 2020 to the post-pandemic world, the tools and technologies used to fight fraud, and fraudsters’ latest schemes to make off with customers’ cash, rewards points and valuable personal data.

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PYMNTS

APRIL 30, 2018

lawmakers about how his company can better protect its users’ data following the Cambridge Analytica breach. The social media platform has admitted the incident may have impacted as many as 87 million users. During the exchange, lawmakers raised the specter of regulating Facebook — which boasts more than 2.2

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PYMNTS

JUNE 24, 2020

The bank said the decision was to “preserve an adequate competitive environment that ensures the functioning of a payment system that’s interchangeable, fast, secure, transparent, open and cheap,” Bloomberg reported. The Central Bank’s decision is a setback for the social media giant.

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Payments social media System Regulation 282

PYMNTS

OCTOBER 1, 2020

In regions where open banking and other electronic payments pilots are becoming common, such as the Middle East-North Africa (MENA) region, pandemic-era payments are all about privacy, security and trust, particularly in B2B transactions. Merchants, their payment providers and their regulators must keep up,” per the new Guide.

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Regional Regulation social media Security 130

PYMNTS

NOVEMBER 27, 2018

IBM CEO Ginni Rometty is the latest tech executive to criticize web platforms, such as Facebook and Google , over their data collection practices. “Dominant online platforms have more power to shape public opinion than newspapers or the television ever had, yet they face very little regulation or liability,” Rometty said.

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social media Google Data Company 130

PYMNTS

APRIL 12, 2018

Consumer Watchdog has called on Congress to enact legislation that would protect consumers’ online privacy in the wake of Facebook’s data scandal. Consumer Watchdog pointed out that Facebook’s latest breach violates its 2011 consent decree with the FTC, adding that the social media giant should be fined.

Regulation 101

Regulation social media United States Online 101

PYMNTS

JUNE 28, 2019

An Italian data protection regulator hit Facebook with a fine of €1 million ($1.1M) for violating local privacy laws in relation to the Cambridge Analytica scandal, according to a report. However, evidence indicates that no Italian user data was shared with Cambridge Analytica. user data was given to Cambridge Analytica.

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Data Regulation Security Company 108

PYMNTS

MAY 9, 2017

Short for the Revised Payment Service Directive, PSD2 lifts banks’ total claim on customer account data and payment activities. But controversy surrounds the fact that banks shall be able to deny this by offering instead a proprietary API to their platforms for data sharing.

Data 135

Data Security social media Innovation 135

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.

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Strategy social media Regulation Retail 188

PYMNTS

JULY 24, 2018

It’s easy to imagine the appeal: Transferring loyalty program data from one grocer to another, moving image data from a social media site to an online photo-printing service, retaining access to music playlists after leaving a website with weak privacy protections or other flaws. Data Control. DTP Development.

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