Latest News – Page 442

PSR to Reduce APP Reimbursement Cap to £85,000

In response to increasing pressure from the government and industry, the UK's Payment Systems Regulator (PSR) is set to reduce the reimbursement limit for banks...

Binance Kazakhstan Secures Approval for Complete Regulatory License

Binance Kazakhstan has received approval for a comprehensive regulatory license.

Governments Commit to the Council of Europe’s AI Framework Convention

The Council of Europe has introduced a treaty described as “technology-neutral,” aimed at establishing a legal framework for the entire lifecycle of AI systems while...

NatWest Reports That Three-Quarters of UK Consumers Still Keep Cash on Hand for Emergencies

New research from NatWest reveals that despite a decline in cash usage, it remains quite versatile, with three-quarters of UK consumers still keeping paper money...

Sedric AI Secures $18 Million for Generative AI Compliance Solutions

American Express Ventures has participated in an $18 million funding round for Sedric AI, a startup focused on creating a specialized compliance large language model...

The Bank of London Faces Urgent Challenge Over Unpaid Tax Bill

The Bank of London has received a winding-up order from UK tax authorities due to unpaid bills, shortly after founder Anthony Watson stepped down as...

Swift Introduces AI-Driven Real-Time Fraud Prevention Solution

Banking co-operative Swift is set to launch an AI-powered anomaly detection service designed to assist banks in proactively identifying and combating potential financial crime. Scheduled...

Klarna Bank Faces Criticism from FSA for Money Laundering Risks

Klarna Bank has faced criticism from the Swedish Financial Supervisory Authority (FSA) for not adequately addressing money laundering risks. A letter from the FSA to...

Mirrorweb Secures $63 Million Amid Regulatory Crackdown on Off-Channel Record Keeping

Market communications surveillance firm Mirrorweb has secured a $63 million growth equity investment from Mainsail Partners. Founded in 2016, MirrorWeb's Insight platform enables firms to...

FCA Initiates First Criminal Charges Against Operator of Cryptocurrency ATM Network

The Financial Conduct Authority (FCA) has initiated its first criminal charges against an individual, Olumide Osunkoya, 45, from London, who is accused of operating multiple...