Sections
Financial Conduct Authority
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RegulationUK Tightens Rules On Payments Firms In Wake Of Wirecard Debacle
The United Kingdom’s financial regulator has toughened rules on payment companies less than two weeks after Wirecard AG’s collapse locked millions of...
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BitcoinBitcoin Daily: Travala Users Can Use Crypto Again To Pay For Expedia Bookings; S. African Ex-Crypto Agency Chief Allegedly Scammed Investors Of $13.4M
Travala.com, the Binance-backed online trading agency, will be allowing travel bookings through Expedia paid for in cryptocurrency for the first time since...
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Security & FraudWirecard Reopens UK Banking As Regulators Remove Restrictions
Wirecard AG got the green light Tuesday (June 30) to resume its banking operations in the United Kingdom (UK), as financial regulators...
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Security & FraudUK Digital Banking Apps Affected By Wirecard Subsidiary Freeze
After the U.K.’s Financial Conduct Authority (FCA) mandated that Wirecard’s British Wirecard Card Solutions unit stop conducting regulated work, a number of...
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NewsToday In Payments: Wirecard Forces German Accounting Regs Reboot; Consumers Sour On Travel Rewards Cards
In today’s top news, Germany’s deputy finance minister wants to restructure accounting firm regulations, and consumers are turning away from travel rewards...
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Security & FraudUK Financial Watchdog Says Wirecard Cooperative But Assets To Stay Frozen
The United Kingdom’s regulatory authority said Wirecard AG was correcting issues raised by the $2.1 billion accounting scandal, but restrictions on the...
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Bank RegulationA Merchant’s How-To For Managing The Contactless Payments Surge And SCA Requirements
The pandemic has drastically affected how consumers are shopping and paying for even routine purchases, and this in turn has altered how...
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BitcoinBitcoin Daily: New Zealand Seizes $90M In Bitcoin Fraud Case; BlackBerry, Intel Team Against Cryptomining Malware
New Zealand police have frozen $90 million they say belongs to alleged bitcoin scammer Alexander Vinnik in what’s being called the country’s...
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EconomyUK Financial Regulator Proposes Extended Grace Period Amid COVID-19
A top British financial services regulator Friday proposed new regulations that could help borrowers bracing for the end of consumer protections implemented...
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Bank RegulationFCA Fines Commerzbank London $47.5 Million For AML Failings
Germany’s Commerzbank London has agreed to pay a fine of £37,805,400 — about $47.45 million — “for failing to put adequate anti-money...
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CoronavirusIOC Mulls Plan To Delay Tokyo Olympics
Here are the latest updates on the coronavirus from around the world. The International Olympic Committee (IOC) and organizers of the 2020...
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CoronavirusCoronavirus Could Lead To 24.7M Unemployed; Argent Gives King’s Cross Tenants Three Months Of Waived Rent
The coronavirus could lead to tens of millions of unemployed workers and could change how businesses operate. Here are the latest updates...
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CoronavirusEU Eases State Aid For Cos. As Banks Worldwide Pledge Help Funding
The coronavirus is spurring governments and companies to take action to help businesses and individuals. Here are the latest updates on the...
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BitcoinBitcoin Daily: S Korea OKs Crypto, Exchange Regulation; Malta’s Trident Crypto Database Stolen
In a new digital real estate game called Upland, players can buy virtual versions of properties in San Francisco, Cointelegraph reported. Players...
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B2B PaymentsUK Explores Open Banking’s SMB Finance Impact
Open Banking business models continue to proliferate, and not just geographically. In the U.K., financial regulators are exploring an expansion of the...
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InternationalCoronavirus Cases Surpass 1,000 in Japan; Amazon Office Worker Confirmed Case
The coronavirus could have wide-reaching effects on eCommerce, sporting events, travel, technology, and the economy as a whole. Here are the latest...
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NewsTop News In Payments: Open Banking Could Expand In UK; Goldman Leads $1.75B Credit Line For WeWork
In today’s top payments news, the Financial Conduct Authority proposed new data sharing rules to expand open banking in the U.K., and...
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Bank RegulationUK Banking Investigations Rise 16 Pct YOY
Probes into financial institutions in the U.K. are up for the first time since 2015 due in part to an increase in...
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Bank RegulationUK Regulators Call For Backup Plans Following Bank IT Glitches
U.K. regulators on Thursday (Dec. 5) called on banks and payment firms to set “impact tolerances” for important services after numerous IT...
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Bank RegulationFCA Questions Metro Bank Managers On Misreporting Allegations
Metro Bank senior managers are being grilled by the U.K. Financial Conduct Authority (FCA) about a misreporting scandal that caused stock values to...
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RegulationFCA Agrees To 18-Month SCA Implementation Timeframe
The Financial Conduct Authority said Tuesday (Aug. 13) that it has agreed to a phased implementation of the Strong Customer Authentication (SCA)...
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BankingChallenger Payments Platform VibePay OK’d By UK FCA
London-based VibePay has won approval from the U.K. Financial Conduct Authority (FCA) to provide direct-to-bank payments via open banking. VibePay will launch...
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CryptocurrencyRegulators Say Facebook’s Libra Will Need Scrutiny
More financial regulators are talking about Libra and saying that Facebook’s recently announced cryptocurrency won’t launch without close scrutiny, according to a...
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RegulationFCA Tells Consumers To Be Wary Of Peer-To-Peer Loans
The U.K.’s Financial Conduct Authority has issued a warning to consumers regarding certain risks inherent in peer-to-peer loans held in individual savings...
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RegulationPan European Regulator: Key Weapon In Money Laundering War?
Among the latest headlines swirling in FinTech: Digital bank Revolut, based in the United Kingdom, has taken on an adviser, along with...
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Consumer FinanceFCA Calls For Lenders To Curb ‘Unacceptable’ Fees
The Financial Conduct Authority (FCA), the U.K.’s financial watchdog, has found that some lenders are inflicting their credit card customers with an...
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Security & FraudHacks On UK Financial Services Firms Jump In 2018
Data breaches at financial services companies in the U.K. jumped fivefold last year, underscoring how the industry is a prime target for...
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AMLDeep Dive: How To Improve Existing AML/KYC Requirements
The following Deep Dive examines how the 2008 financial meltdown paved the way for existing AML/KYC practices, and how FIs can work...
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BankingLloyds Criticized For Increasing Overdraft Fees
Lloyds Banking Group is being criticized for making its overdraft fees more expensive and complicated for its customers. According to The Financial...
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Security & FraudUK Financial Firms Plagued By Tech Outages
Financial Services companies in the U.K. aren’t doing a good job keeping their IT systems up and running, with the Financial Conduct...
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LegalIn UK, P2P Firm Seeks Help from Regulators
In the United Kingdom, a peer-to-peer (P2P) property lender has taken what the Financial Times called “the unusual step” of asking a...
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RegulationFCA Rolls Out Rules To Help Consumers Make Better Financial Services Decisions
The Financial Conduct Authority (FCA) and the Competition and Markets Authority (CMA) announced on Thursday (Aug. 16) that consumers and small businesses...
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B2B PaymentsU.K. Regs To Conclude RBS Probe Next Month As Criticism Mounts
The U.K. financial regulator, the Financial Conduct Authority (FCA), announced its plans to complete its investigation into the Royal Bank of Scotland...
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B2B PaymentsTSB IT Disaster Locks Entrepreneurs Out Of Accounts
The ongoing outage of TSB (Trustee Savings Bank) services in the U.K. isn’t just impacting consumers: The technical glitches that occurred as...
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B2B PaymentsUK, Australia Sign Stronger FinTech Innovation Pact
The U.K. and Australia are strengthening an existing collaborative agreement to promote FinTech innovation, according to reports in Mondo Visione. The U.K....
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Bank RegulationUK Cracks Down On Bank Misconduct
The U.K.’s Financial Conduct Authority (FCA) is taking a zero-tolerance stance on misconduct at banks. The regulator in charge of policing this...
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B2B PaymentsMPs To Publish FCA’s Confidential RBS Report
U.K. policymakers are reportedly ready to release a confidential report penned by the Financial Conduct Authority (FCA) summarizing its investigation into the...
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B2B PaymentsFCA Explores How To Include More SMBs In FinServ Protections
In business banking news, the U.K.’s Financial Conduct Authority (FCA) plans to propose an extension of its jurisdiction from serving individuals and...
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BitcoinThe Beginning Of The End For Bitcoin?
Bitcoin has been riding a bit of a rollercoaster in the past few weeks since hitting an all-time high of more than...
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B2B PaymentsWEX Lands License To Issue Cards Across Europe
Corporate payments company WEX is continuing its focus on the global expansion of its virtual payments operations through strengthening its presence in...
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InternationalUK’s FCA Sees Record Complaints In Latter Half Of 2016
U.K. consumers lodged 3.04 million complaints in the second half of 2016 concerning financial products. This according to figures published yesterday by...
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BrexitBrexit Tracker: VC Funding Remains Steady, SMEs Still Confident, FCA Risk Watchlist
Though Brexit has brought about a lingering air of uncertainty, there are some parts of the economy that are doing their best...
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RegulationFCA Calls For International Regulatory Framework For Fintechs
The UK’s Financial Conduct Authority (FCA) is calling for the creation of an international regulatory framework for FinTech startups to prevent a...
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Consumer FinanceFCA Proposes New Rules To Help Credit Card Debt Holders
The Financial Conduct Authority (FCA) announced Monday (April 3) it is proposing new rules to help customers who have ongoing credit card...
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RegulationCFO Lending Told To Pay Back More Than 97,000 Customers Due To Unfair Practices
CFO Lending, a U.K. payday lender, was told by the U.K.’s markets regulator that it has to return to customers $44.4 million because...
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B2B PaymentsUK Lawmakers Want A New Bank Regulator — Again
The U.K. Parliament’s Treasury Committee released its report on the effectiveness of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority...
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B2B PaymentsWhy Banks Are Ditching FinTech SMEs — Without Warning
Post-financial crisis regulations have forced banks to become more diligent and aggressive against financial fraud, including money laundering. In response to new...
