The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, has assessed a $14.5 million fine against UBS Financial Services (UBSFS) for willful violation of the Bank Secrecy Act, according to a treasury report. Get the Full Story Complete the...
In an effort to help authorized push payment (APP) fraud victims, The U.K.’s Financial Conduct Authority (FCA) unveiled new rules on Friday (Dec. 14). As a result, additional banks or payment services providers (PSPs) may have to compensate victims of those kinds of scams, Financial...
Kathy Kraninger, the new head of the Consumer Financial Protection Bureau (CFPB), has said that she’ll prioritize the protection of consumers over regulatory issues, according to a report by the Chicago Tribune. Get the Full Story Complete the form to unlock this article and enjoy...
Chinese bike-sharing company Mobike might be looking to spin off its European arm after it was revealed that it’s being investigated for possible breach of the European Union’s (EU’s) General Data Protection Regulation (GDPR). Get the Full Story Complete the form to unlock this article and enjoy unlimited...
The Australian Competition and Consumer Commission (ACCC) earlier this week published a series of recommendations to push back against the influence U.S. tech giants are having on society in the country. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Chinese bike-sharing company Mobike is being investigated by German regulators for potentially being in breach of the EU’s General Data Protection Regulation (GDPR). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
HSBC Holdings and Standard Chartered, the two U.K. banks, have been embroiled in the Huawei Technologies scandal in which Canada arrested the company’s Chief Financial Officer Meng Wanzhou at the request of U.S. authorities, prompting China to warn Canada to release the CFO or face...
Much regulatory focus this past week came with headlines on anti-money-laundering efforts, aided by tech. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter,...
A research group affiliated with two tech giants is calling for more regulation of facial recognition and other artificial intelligence (AI) tools. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
