Latest News – Page 291

Confirmation of Payee Now Applies to Nearly All Transactions in the UK

Confirmation of Payee in the UK now covers nearly 99% of all transactions conducted through Faster Payments and CHAPS, following the integration of this fraud-prevention...

FCA Imposes £350,000 Fine on Wise CEO Käärmann for Violating Senior Manager Conduct Rules

Wise CEO Kristo Käärmann has been fined £350,000 by the FCA for failing to promptly report a default on his tax bill. In February 2021,...

Central Banks Demonstrate the Value of Integrating Compliance in Cross-Border Transactions

The Bank for International Settlements (BIS), in collaboration with central banks from Australia, Korea, Malaysia, and Singapore, has successfully showcased the feasibility of integrating regulatory...

Australia’s ASIC Emphasizes Governance Gaps in AI Adoption

Australia's Securities and Investment Commission (ASIC) is urging financial services and credit licensees to enhance their governance practices in light of the increasing adoption of...

Top 5 Fraud Techniques Predicted for 2024, Based on AIB Insights

Allied Irish Bank is advising customers to stay alert to fraud, especially during the festive season when many are taking time off. The bank has...

Fintech Funding Defies Downward Trend Across Europe

Innovations in AI and embedded finance have sparked a recovery in fintech funding, according to Q3 figures compiled by Dealroom. While European startup funding declined...

NCino Acquires FullCircl for $135 Million

Banking technology vendor nCino has announced a definitive agreement to acquire the UK-based SaaS regtech platform FullCircl for $135 million in cash. FullCircl's platform aims...

VyStar Credit Union Penalized $1.5 Million for Flawed Online Banking Transition

Florida-based VyStar Credit Union has faced a $1.5 million penalty due to a poorly executed launch of a new online banking system, which left members...

SEC Files Charges Against JP Morgan Affiliates for $151 Million

The US Securities and Exchange Commission (SEC) has charged JP Morgan Securities and JP Morgan Investment Management Inc. (JPMIM) in five distinct actions. JPM has...

Transak Secures Delaware Money Transmitter License and FINTRAC Registration

Transak has obtained its second Money Transmitter License (MTL) from the state of Delaware, in addition to registering with the Financial Transactions and Reports Analysis...