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Definition Of ‘Small Business’ Left Uncertain Amid Aussie Bank Reforms

PYMNTS

Australia’s banking industry continues to address misconduct at the largest of the nation’s institutions, with small business banking at the center of many of the regulatory efforts. The current definition of a small business by the banks is a company with loan exposure of up to AUS$3 million ($2.15

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Banking Computer-Security Incident Notification Requirements Take Effect

Abrigo

New Rule Outlines Computer-Security Incident Notification Obligations for Banks Financial institutions and their service providers should prepare to meet new computer-security notice requirements by May 1, 2022. . Computer-security incident notifications required. Expand and Clarify. What are the new notification requirements?

Security 195
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Qatar National Bank Reportedly Breached

PYMNTS

Qatar National Bank (QNB) is looking into allegations that the names and passwords of many of its customers were compromised, Reuters reported on Wednesday (April 27). The largest lender in the Middle East and Africa by assets may have become the victim of a cybersecurity data breach. The Doha News website reported that 1.5

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National Pension Scheme – Features, Latest Tax Benefits & Types Of Accounts

BankBazaar

Got questions on the National Pension Scheme (NPS)? The National Pension Scheme can be a very good option if you are looking for a secure source of income after retirement. What are the different types of National Pension Scheme Accounts? This video answers all your questions and more. Watch it now! Click the link below.

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U.S. Regulations to Consider When Managing a Cryptocurrency Fund

Perficient

We’ll then move to the federal level, seeking regulatory guidance as to whether digital tokens are securities under the jurisdiction of the U.S. Securities and Exchange Commission (SEC) or commodities contracts over which the Commodity Futures Trading Commission (CFTC) has regulatory jurisdiction. State Regulations.

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Beneficial ownership: Final rule and its impacts on AML programs

Abrigo

The Final Rule for Beneficial Ownership Reporting , issued in September 2022, establishes definitions for reporting provisions of the FinCEN BOI database. Other legal entities, including certain trusts, are excluded from the definitions as filing a document with a secretary of state or similar office does not create them.

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India Brings Charges In Punjab National Bank Fraud Case

PYMNTS

The Central Bureau of Investigation (CBI), India’s main investigative agency in the country, has filed charges in the Punjab National Bank fraud case against Nirav Modi, the jewelry retail owner, and his uncle Mehul Choksi, as well as senior executives at the state-run lender.

Fraud 100