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Big Tech Compliance Tracker: EU Prepares To Propose New Big Tech Regulations; Turkey Fines Big Tech Platforms $1.18M

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Here’s the latest news from the technology industry, which is coming under increasing global scrutiny from governments and consumers. Regulation. EU Gears Up To Propose New Big Tech Regulations. Australian Regulator Looks Into Merger Law Changes. Facebook’s WhatsApp To Grow Payments Service Following NPCI Go-Ahead.

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India Mulls Requesting eCommerce, Social Media Players To Store Customer Data Locally

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India is mulling the idea of requesting eCommerce and social media companies to only store customer data locally, which could impact the likes of Amazon and Facebook and its WhatsApp messaging service in the country. According to a report in Reuters , the plan was laid out in an updated Draft National Policy.

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Deep Dive: Why The Pandemic Is Pushing MENA Regulators To Upgrade Open Banking, Privacy Laws

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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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How China Is Clamping Down On Crypto Trading With Social Media

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The Chinese government has a complicated relationship with cryptocurrency: While it seems to be enthusiastic about the applications of blockchain technology, the country has banned initial coin offerings (ICOs) and blocked crypto trading sites. Why WeChat? billion fund focused on the blockchain.

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TRENDING: How Credit Unions Give Digital The Personal Touch

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Advanced technology is increasingly raising the stakes of how CUs should operate, with members coming to expect the instant payments and slick mobile interfaces that large banks and FinTechs have made standard. Deep Dive: How CUs Leverage Social Media. Credit unions (CUs) are facing an ever-shifting financial services landscape.

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ChowNow: AI Helps Independent Restaurants Fight The Growing Threat of Digital Fraud

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More than 100,000 eateries — or about one in six restaurants nationwide — have closed due to the pandemic, according to National Restaurant Association estimates. Social media fraud has been on the rise during the past year. Developments From The Mobile Order-Ahead World. About The Tracker®.

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How AML Regulations Are Pulling Credit Unions Into Law Enforcement

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Recently, though, many CUs have turned to technology-driven solutions to help members more efficiently communicate their needs and feedback. CUs are also actively communicating with law enforcement agencies, keeping regulators informed about suspicious activity, while receiving tips on noticeable trends that these same agencies are eyeing.