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APRIL 19, 2019

That’s particularly true when it comes to compliance and data security. The EU’s General Data Protection Regulation (GDPR) is a prime example, said Jones. Payroll and tax-related regulations are also a strategic focus for accountants handling payroll for their customers. In the U.K.,

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Innovation Compliance Technology Resources 154

PYMNTS

JANUARY 24, 2020

Government disbursements can range from child support payments and annual tax returns to pension and retirement fund payouts. Payment Challenges Stall Government Innovations . All parties involved in sending or receiving disbursements must be able to easily share payment data to speed payouts to residents and ensure security.

Payments 130

Payments US Fraud Innovation 130

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

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. ”

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Wyoming cryptocurrency Regulation blockchain 153

PYMNTS

MARCH 26, 2018

The rise of RegTech is not by chance: There is an undeniable link between regulatory changes and technological innovation, and that link has a profound impact on FinTech and the financial services market. Europe is an epicenter for both regulatory shifts and FinTech innovation. Tax fraud is a massive threat of corporates.

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MARCH 27, 2020

While open banking FinTech innovation has initially focused on opening up bank account data to third party platforms, there is another component to the initiative with major implications for the payments landscape. Their use for B2B payments, however, remains limited — but in the U.K., open banking may be able to change that.

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Payments Innovation Security Guidelines 151

PYMNTS

SEPTEMBER 17, 2019

And an increased number of banks are swapping their own regulators for Office of the Comptroller of the Currency (OCC) oversight. Square Launches SMB Tax ID Tool. Its purpose is to simplify the challenging EIN acquisition process to create a separate tax infrastructure for the business.

Payments 100

Payments Taxes Regulation Tools 100

PYMNTS

JANUARY 4, 2019

A New York State politician announced the creation of what he called the nation’s first cryptocurrency task force, to “study how to properly regulate, define and use” the currency, according to a Facebook post and reports. Cryptocurrency, however, is more than just an asset that stores value.

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cryptocurrency New York New York City Study 163

PYMNTS

MARCH 14, 2018

“The same innovations that power crypto-assets can also help us regulate them,” said Christine Lagarde in an IMF blog post Tuesday, according to CoinDesk reports. Blockchain, on the other hand, has a potential to facilitate data exchange between regulators and relevant parties to combat this threat. In the U.S.,

blockchain 129

blockchain cryptocurrency Regulation Taxes 129

Abrigo

MARCH 3, 2023

Fraudsters will steal personal checks, business checks, tax refund checks, and checks related to government assistance programs. Introduction Check fraud is alive and well As we think about the evolution of banking and the innovative ways to move money, writing checks does not come to mind as a frequent transfer method.

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PYMNTS

AUGUST 2, 2019

In other news, Brazil’s Tax Authority has announced that transactions involving cryptocurrencies must now be reported to the Department of Federal Revenue ( RFB ). Those who do not comply will face penalties ranging from 100 to 500 Brazilian reais or from $25 to $130, according to Cointelegraph.

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blockchain Fraud Data Report 148

PYMNTS

OCTOBER 18, 2019

dollar-backed digital currencies for the payment of government taxes, fees and services. We know that embracing new technology is necessary for the future growth of our economy, and so, in Bermuda, we are making sure that we are leading the world in facilitating innovation. “We In other news, Bermuda will now accept one-to-one U.S.

blockchain 101

blockchain Samsung Bitcoin Innovation 101

Independent Banker

MARCH 31, 2022

Treasurer Sarah Getzlaff, CEO, Security First Bank of North Dakota, New Salem, N.D. We must also keep our focus on protecting the 2017 tax cuts and, as always, monitoring and confronting credit union overreach. We need to make sure people remember that and have it reflected in laws and regulations that affect our industry.

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Community Bank Community Industry Texas 239

PYMNTS

OCTOBER 18, 2019

The document explained that one benefit to launching its own crypto would be the ability of collecting more information on its citizens, which could then be shared with police or tax authorities. “We

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cryptocurrency Taxes Compliance Regulation 102

PYMNTS

DECEMBER 28, 2018

It has been a busy year for the world of bank regulations, particularly Know Your Customer (KYC). Financial services regulations are notorious for their complexity and ever-changing demands for financial institutions and corporates, but another fuel for development in the KYC space was the FinTech community.

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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

PYMNTS

JANUARY 22, 2018

There is another market segment, however, that similarly struggles to secure this Goldilocks effect, with products that aren’t too small and aren’t too large: the middle market. ” Enhanced technology is far from the only factor innovators must keep in mind when targeting the middle market, however. .

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PYMNTS

MAY 29, 2018

It’s beginning to feel like two kids talking smack in a high school hallway — except, in this case, billions of dollars are involved, along with issues of privacy and innovation. Don’t worry, though — the Americans can give as good as they get. so they are punishing us,” Thiel said, according to reports.

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social media US Regulation United States 100

PYMNTS

DECEMBER 12, 2019

The market’s early-stage growing pains, she said, reflect the unique struggles of a market driven by competition, not regulation. “My regulation is both a help and a hinderance. Competition, Not Regulation. On the other are regulations in place that Killam noted could hinder real-time payments progress, most notably U.S.

Payments 181

Payments Regulation Marketing National 181

PYMNTS

FEBRUARY 21, 2018

Singapore stepped onto the global stage as a world leader in blockchain innovation in recent months. Financial regulators may want to begin looking at not only regulating blockchain, but how blockchain can help in their own regulatory efforts — in this case, to ensure proper safeguards and controls in the banking sector.

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blockchain Los Angeles Regulation Oregon 130

PYMNTS

JANUARY 4, 2019

These were OYO Rooms, a hospitality company, which raised $1 billion in September, and food delivery company Swiggy , which also secured a cool billion. Part of the problem is a law in India stating that about a third of the money raised from angel investors must be paid as tax.

Company 162

Company Taxes Innovation Capital 162

PYMNTS

APRIL 2, 2018

Here in the United States, tax season looms, of course, which may put additional pressure on cryptos. The specific directive from William Galvin, the state’s head securities regulator, commands that those firms abandon the sale of what have been termed “unregistered securities.” International Innovation, With a UK Focus.

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United States social media Arizona cryptocurrency 110

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.

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Regulation Online Marketing Payments 40

PYMNTS

OCTOBER 23, 2019

The financial industry is stagnant, and there is no digital financial architecture to support the innovation we need. dollar is an excellent currency as a means of accounts, and it serves all needs — except it’s really bad for tax evasion,” and a host of other crimes. That means, as Zuckerberg said, “all” regulators.

cryptocurrency 100

cryptocurrency Payments Regulation Taxes 100

PYMNTS

OCTOBER 23, 2019

The financial industry is stagnant, and there is no digital financial architecture to support the innovation we need. dollar is an excellent currency as a means of accounts, and it serves all needs — except it’s really bad for tax evasion,” and a host of other crimes. That means, as Zuckerberg said, “all” regulators.

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cryptocurrency Regulation Taxes Data 100

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 financial companies are also required to have “robust” IT systems in place (which includes IT security, too). The aggregators have duties as fiduciaries to manage consent. The Roadmap.

Data 141

Data Payments Regulation System 141

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 review concluded that the revised FATF standards have fostered growth and innovation, while better protecting the international financial system.

Training 195

Training Policies United States Report 195

PYMNTS

MARCH 12, 2019

and Canada, where open banking regulations are not in place, how do financial service providers act on the demand to move data and connect platforms? Yet open banking also raises questions and concerns about the security and privacy of that customer data as it moves between platforms. But in jurisdictions like the U.S. ”

Data 184

Data Fintech Strategy Regulation 184

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 financial companies are also required to have “robust” IT systems in place (which includes IT security, too). The aggregators have duties as fiduciaries to manage consent. The Roadmap.

Data 132

Data Regulation System Taxes 132

PYMNTS

JUNE 26, 2020

One key innovation does away with the paper and direct deposit checks all together. Workers and contractors can be paid via debit cards or through virtual cards that rely on secure, transaction-specific codes. Digital payroll innovations in the current era go well beyond offering basic conveniences to employees.

Tools 130

Tools Cards United States Innovation 130

PYMNTS

MAY 13, 2016

Stop ISIS, bring peace to the Middle East, clean up the economy, create more jobs, fix the education system, lower taxes, etc., Because he believes there should be proper protection and regulation over them. How Bill Clinton’s administration dealt with the Internet in order to ensure it was not over-regulated. Fair point.

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Bitcoin blockchain Regulation Operations 100

PYMNTS

JANUARY 23, 2017

Dabbling in FinTech innovation, expanding internationally, integrating digital systems — businesses must make progress, but they’re facing unfamiliar threats as they make these moves. And we’re not just talking about cyberattacks. 40% more cyberbreaches impacted U.S. businesses in 2016 than the year prior, found CyberScout.

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PYMNTS

FEBRUARY 10, 2017

The city was ranked as a strong innovator by the latest edition of the Regional Innovation Scoreboard (RIS 2016). The Brussels-based hub B-Hive is a new FinTech platform designed to facilitate innovation between the FinTech sector in Belgium and other traditional financial and technology sectors. environment.

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Capital Regional Innovation Fintech 100

PYMNTS

NOVEMBER 14, 2019

Time report collection, data aggregation across different formats and departments, data consolidation for processing, tax withholdings and benefits calculation must all be done, approved, and processed for on-time payroll. Technological Innovation. Compliance is still a major challenge.

Payments 127

Payments Compliance Taxes Technology 127

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.

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Fintech Mobile Examples Data 181

Jeff For Banks

JUNE 2, 2023

Second, this can be accomplished only if the industry does not have too much influence over its regulators and if the regulators have the ability to hire, train, and retain qualified staff. Third, the regulators need adequate financial resources. My lesson learned to the regulators, read your past lessons learned.

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PYMNTS

SEPTEMBER 9, 2016

You might, when you find out that they were the first to file for a bitcoin Exchange-Traded Fund (ETF) with the Securities and Exchange Commission (SEC). Perhaps not a scalable option in terms of security, but some bitcoin aficionados are finding ways to store coins offline, outside of a central exchange. And do you care?

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Bitcoin cryptocurrency Security Taxes 100