France is vying to host the European Union’s anti-money laundering (AML) agency, with French Finance Minister Bruno Le Maire presenting Paris as an ideal location for the agency. Addressing European Union (EU) ambassadors on Friday (Nov. 17), Le Maire highlighted that Paris already serves as...
Payment fraud is expected to jump from $28 billion globally in 2020 to $49 billion in 2030, according to analysts. Those figures, said Linda Weston, head of core product at Barclaycard Payments, point to the enormous threat online retailers are facing in the payments space,...
Changes to strong customer authentication (SCA) rules in Europe are aiming to reduce customer friction. In the EU, the European Banking Authority (EBA) has updated its regulatory technical standards (RTS) to extend the 90-day “reauthentication rule” to 180 days. Under the EU’s old RTS, customers...
In its recently published work plan for 2023, the European Banking Authority (EBA) signals how the European Union’s banking sector intends to adapt to new upcoming regulations, pursue its digitization agenda and foster further collaboration in areas such as payments and financial crime-fighting. The document...
March 08, 2023
Payment fraud is expected to jump from $28 billion globally in 2020 to $49 billion in 2030, according to analysts. Those figures, said Linda Weston, head of core product at Barclaycard Payments, point to the enormous threat online retailers are facing in the payments space, not to mention the added burden of ensuring optimal protection […]
July 23, 2019
There may be extensions to Strong Customer Authentication's (SCA) rollout this fall — and there may not. And, there may be exemptions granted by the EBA — and there may...
January 03, 2024
Regulators in Europe are reportedly probing the ties between banks and non-bank financial institutions (NBFIs). This investigation is borne out of concerns about possible contagion due to stresses in the larger system, European Banking Authority (EBA) Chair José Manuel Campa said in a Financial Times (FT) interview published Wednesday (Jan. 3). “We should be doing more and we are going to […]
November 17, 2023
France is vying to host the European Union’s anti-money laundering (AML) agency, with French Finance Minister Bruno Le Maire presenting Paris as an ideal location for the agency. Addressing European...
July 31, 2022
There are reportedly “major concerns” among European regulatory officials about the ability to hire specialized staff to help regulate crypto. Authorities worry about how they will be able to supervise...
July 27, 2022
European Banking Authority (EBA) Chair José Manuel Campa is worried about being able to find enough talent to govern and enforce the mandates around cryptocurrency and digital assets coming into...
