PYMNTS

DECEMBER 10, 2020

the ability to send secure funds to 12 countries in Africa for a reduced fee, while Volante Technologies Inc. Plus, HM Treasury is seeking input on the challenges that the sharing economy brings for value-added tax (VAT). and Europe the ability to send secure funds to 12 nations in Africa for a reduced charge. Canada, U.K.

Payments 178

Payments Google Technology Taxes 178

PYMNTS

JUNE 16, 2020

But Kellerman and other security experts advocated at the hearing for legislative measures, such as modernizing anti-money laundering (AML) and forfeiture rules and moving the Secret Service to the Treasury Department, to help combat the threat. ” A memo included with the subcommittee’s documents also pointed to the U.S.

US 227

US Cyber Security Security National 227

PYMNTS

SEPTEMBER 16, 2020

PSD2 and open banking regulations were forged to accelerate competition in the financial services arena, and this week, a look at the latest initiatives reveals the opportunity for new market entrants to rival incumbents in the small business banking arena. Eedenbul Secures PSD2 License. Faster Payments and BACS schemes.

Taxes 141

Taxes Fintech Payments Security 141

Abrigo

DECEMBER 20, 2021

Millions of dollars in suspicious activity were not reported to FinCEN in a timely or accurate manner, including those connected to tax evasion, illegal gambling, money laundering, and other financial crimes. . Fundamentals of BSA. CommunityBank of Texas' citations. CDD is widely considered the fifth pillar of BSA.

Resources 195

Resources Texas Analysis System 195

PYMNTS

APRIL 30, 2019

The resulting document shows the extent of bank supervisors’ failures to catch the money laundering or stop it from happening. The document illustrates how little action was taken to respond to the warnings, a move that the EBA says is a breach of EU rules.

Virgin Islands 129

Virgin Islands Taxes National Regulation 129

PYMNTS

JULY 26, 2020

“Our charter application incorporates truly novel ideas that have received detailed scrutiny from multiple regulators,” Caitlin Long , CEO and founder of Avanti, said in the release. ” Avanti intends to use Avit, an equivalent to cash that is nicknamed a “stablecoin disruptor,” according to the release.

Wyoming 153

Wyoming cryptocurrency Regulation blockchain 153

PYMNTS

OCTOBER 18, 2019

A document titled “Central Bank Money: The Next Generation,” part of a two-year research project, was reportedly presented to the current Bank of Canada Governor Stephen Poloz in 2018.

cryptocurrency 102

cryptocurrency Taxes Compliance Regulation 102

Abrigo

SEPTEMBER 20, 2023

Given the current economic climate in the United States, it is essential to understand the effect personal financial security has on 1 st -party fraud. Regulators will be expecting this as they examine institutions for FinCEN priority preparedness. The scam here is an inside job, making it inherently more elusive.

Fraud 195

Fraud Trends Cards Software 195

PYMNTS

JANUARY 8, 2020

Call it, perhaps, a New Year’s Resolution list — for regulators. In documents released Tuesday (Jan. 8), the Securities and Exchange Commission ’s (SEC’s) Office of Compliance and Examinations (OCIE) offered up a list of its priorities for the year that has just dawned. The decision had originally been scheduled for Dec.

blockchain 138

blockchain Phoenix Compliance cryptocurrency 138

PYMNTS

MARCH 26, 2018

Complex tax law has been linked to the rise in eInvoicing in B2B commerce, according to Julie Park, managing director of VAT and customs duty at The VAT Consultancy. She pointed to Latin America , which enacted some of the world’s first eInvoicing mandates for the purposes of tax rule enforcement. billion every year.

Taxes 102

Taxes Fraud Compliance Regulation 102

PYMNTS

JUNE 29, 2020

We predict dozens of corporate failures, hundreds of job losses and significant reductions in tax payments, unless it is removed right away,” the EPA said in a letter to the FCA, Reuters reported. The Emerging Payments Association (EPA), an industry trade group, urged the FCA to lift its Wirecard freeze as soon as possible. “We

Taxes 223

Taxes Report Financial Technology Digital Banking 223

PYMNTS

MAY 12, 2016

office were facilitating tax evasion and money laundering. According to FT , no public or private action was taken against the bank by regulators after the information was disclosed. regulators didn’t seem inclined to take any real steps toward looking into the claims about BSI’s role in tax evasion at the time.

Taxes 100

Taxes Fraud Regulation New York 100

PYMNTS

MARCH 4, 2019

According to a report in Reuters , citing Finnish broadcaster Yle, which had access to leaked documents, the money came from companies registered in countries with tax havens, including the British Virgin Islands, Panama and Belize.

Virgin Islands 116

Virgin Islands Taxes Regulation Regional 116

PYMNTS

JANUARY 24, 2020

Government disbursements can range from child support payments and annual tax returns to pension and retirement fund payouts. The IRS has accepted digitally filed tax documents and issued digital refunds for years, and it received approximately 29 million electronic returns via direct deposit between February 2018 and February 2019.

Payments 130

Payments US Fraud Innovation 130

Abrigo

SEPTEMBER 5, 2023

3 categories of credit exceptions I would divide exceptions into three categories: structural credit exceptions, account management exceptions, and documentation exceptions. For example, documentation would encompass perfection, administrative (insurance, UCC-11s, etc.), and property tax payments.

Policies 195

Policies Lending Risk Management Examples 195

PYMNTS

NOVEMBER 11, 2019

The company’s blockchain chief Yige Cai revealed last week that the Hong Kong Securities and Futures Commission (SFC) has approved a new license, and that the company is setting up a team to support the platform. Tencent has announced that it will launch a blockchain-based virtual bank.

blockchain 109

blockchain Bitcoin Capital Taxes 109

CFPB Monitor

APRIL 23, 2020

In the case, which the Ninth Circuit described as “present[ing] an issue of first impression under federal and state regulation of consumer credit transactions,” the borrower, an individual acting in her capacity as trustee, obtained a loan from the lender to finance repairs to the residential property that was the trust’s main asset.

Taxes 78

Taxes Regulation Maine Security 78

PYMNTS

JANUARY 31, 2018

There is no intention to ban or suppress the cryptocurrency (markets),” Kim said, adding the government’s immediate task is to regulate exchanges. Firms and individual who attempt to send $3,000 out of the country at a time must submit documents to tax authorities explaining reasons for the transfers.

cryptocurrency 120

cryptocurrency Bitcoin Regulation Taxes 120

Abrigo

DECEMBER 18, 2023

Banks and thrifts hold half of all outstanding CRE debt through the second quarter, with insurance companies accounting for 12% and commercial mortgage-backed securities holding 14%, according to Trepp. Loan documentation will be critical in upcoming exams. If they can’t do that, you’re going to have a problem.”

Risk Management 221

Risk Management Management Lending Capital 221

PYMNTS

JULY 31, 2017

Regulators are reportedly inquiring about how a lawyer for wealthy customers of Wells Fargo came to access so large a trove of customer information. Regulators have reportedly informally reached out to the attorneys involved in the lawsuit underlying the release of information to figure out how the data breach happened.

Taxes 100

Taxes Data Security Report 100

PYMNTS

AUGUST 9, 2019

As the price of bitcoin surged this week, cryptocurrency (namely, Facebook’s Libra) has been under increased scrutiny by regulators. Even if exchanges are done electronically, they are monitored and regulated by central banks. The folks who bought their bitcoin at around $4,000 are feeling pretty smart. division of the firm.

Bitcoin 143

Bitcoin Regulation cryptocurrency Taxes 143

PYMNTS

DECEMBER 2, 2016

According to its cofounder, Aditya Tulsian, incoming tax regulation changes, along with India’s recent demonetization, mean SMEs are going digital and will need to keep better track of funds. Corporate travel and expense management startup Baoku Online, based in China, secured Series A funding , the firm said Monday (Nov.

Fintech 100

Fintech Capital Lending Taxes 100

Abrigo

JULY 12, 2021

This new guidance will assist countries and the private sector in understanding and documenting these risks and prepare accordingly for this serious threat to international peace and security. The report shines a light on corruption, tax fraud, drug trafficking, and labor trafficking as being linked to environmental crime.

Training 195

Training Policies United States Report 195

PYMNTS

JANUARY 22, 2020

As for the mechanics: An “account aggregator” system is being created by banks, and will be regulated and licensed by the central bank. The business of an account aggregator will be entirely information technology (IT)-driven,” notes the document, which also states that no other business can be conducted by the aggregator. The Roadmap.

Data 141

Data Payments Regulation System 141

PYMNTS

JANUARY 22, 2020

As for the mechanics: An “account aggregator” system is being created by banks, and will be regulated and licensed by the central bank. The business of an account aggregator will be entirely information technology (IT)-driven,” notes the document, which also states that no other business can be conducted by the aggregator. The Roadmap.

Data 132

Data Regulation System Taxes 132

PYMNTS

MAY 9, 2017

But as he noted, “on the other side, it’s also understandable that competition authorities would like to open up the markets more and to bring in third-party service providers, which are less regulated than banks, but still enough to ensure secure and compliant services.”.

Data 135

Data Security social media Innovation 135

Banking 2020

NOVEMBER 25, 2015

China has introduced new draft rules that are intended to tighten regulations governing online payments in the country. Balancing usability with security is no easy task and it seems China, like many other countries, is struggling to get it just right. The impact of tougher regulations.

Regulation 40

Regulation Online Marketing Payments 40

PYMNTS

DECEMBER 10, 2018

The business was handling trusts in low-tax locations like Germany and the Virgin Islands. The Panama Papers are involved in the situation because one of GTS’ legal entities was the British Virgin Islands-based Regula Limited, which was named in the leaked documents. In October of 2017, a deal was reached to sell the unit to N.T.

Virgin Islands 167

Virgin Islands Taxes America Report 167

PYMNTS

SEPTEMBER 15, 2017

If that uncertainty isn’t loosening hodlers’ hodl, it seems unlikely that bad press, bitcoin ICO bans and regulation in China, derision from JPMorgan CEO Jamie Dimon or prophecies of a bursting bubble will do it either. Last week, Chinese regulators went one step further and banned ICOs. percent this week. Banned in China.

Bitcoin 177

Bitcoin cryptocurrency blockchain Regulation 177

PYMNTS

JANUARY 23, 2017

Businesses face mounting risk thanks to things like geopolitical uncertainties and regulation but are also threatened by something as seemingly arbitrary as group chat platforms. And we’re not just talking about cyberattacks. 40% more cyberbreaches impacted U.S. businesses in 2016 than the year prior, found CyberScout.

Survey 100

Survey Taxes Groups Analysis 100

PYMNTS

APRIL 19, 2019

That’s because Strong Customer Authentication (SCA) is on the way in September, but as has been seen with other sweeping changes mandated by regulators and impacting the very way payments are made, lots of folks are not paying attention. The economy is growing, and tax refunds may have also helped boost spend. Retail Sales: Rally 1.6

social media 125

social media Online Regulation Taxes 125

PYMNTS

NOVEMBER 7, 2019

Consumers around the world log in to eBay with their Facebook profiles, purchase lunches with Apple Pay and in some cases pay their taxes or register to vote with government-provided digital identities. Digital identities are flexibly changing forms as they gain ubiquity. First inquiries revolve around personal privacy.

System 131

System Guidelines National Online 131

Insights on Business

JULY 20, 2017

Regulations, such as Payment Services Directive (PSD2), are forcing banks to “open up”, enabling customers to easily share data with third parties. The emergence of financial technology (fintech) and the push of regulators for more competition are disaggregating and open this closed value chain. The mobile payments hub.

Fintech 181

Fintech Mobile Examples Data 181

Abrigo

FEBRUARY 23, 2023

At the same time, asset-based liquidity options at some community banks have been constrained by large unrealized losses in available-for-sale securities. At the same time, the technology can reduce to seconds the time it takes for routine tasks like adding information from tax returns and financial spreading. The result?

Community Bank 195

Community Bank Kansas City Community Lending 195

PYMNTS

MARCH 1, 2018

Securing bank financing for a small business (SMB) is neither fast nor easy, but the people running those SMBs need it to be both. Once those 25 hours have been invested and documents are printed out and sent to the lender, the tedium of the process shifts to the lender.

Data 101

Data Lending Taxes Innovation 101

Independent Banker

AUGUST 26, 2015

We get the disclosure back faster” when borrowers digitally sign documents exchanged by email, Webster notes. Community banks and their customers don’t need to be concerned about the legality of digitally signed documents. Sending documents to a consumer’s personal email is the first safeguard.

San Francisco 70

San Francisco Lending System Atlanta 70

PYMNTS

AUGUST 3, 2016

company, it faced new compliance regulations, specifically OPEC sanctions. Because each customer of Instra is using the same system, the same infrastructure and the same security, there is nothing to be fixed, and the client needs to focus only on its customers’ credentials. Compliance. When the company was acquired by a U.K.

Compliance 100

Compliance System Online Regulation 100