Legal

1070 articles tagged with this keyword

/people

Ronaldo hit with class action suit over Binance promotion

Cristiano Ronaldo has been hit with a $1 billion-plus class action lawsuit over his promotion of an NFT collection with controversial crypto exchange Binance.

/regulation

UK companies backsliding on sanctions screening

UK companies are failing to keep up with the requirements for sanction-screening prospective clients despite the high level of global geopolitical unrest, according to a recently published survey.

/security

DORA to spark changes in risk management tech

The imminent introduction of the EU's Digital Operational Resilience Act (DORA) will force sell-side firms to make significant changes to their third party risk management software and strategies, suggests a recently published survey.

/crypto

Binance pays $4.3bn and CEO pleads guilty to settle US AML charges

Binance has agreed to pay $4.3 billion to settle a long-running investigation by the US Department of Justice, with the crypto exchange's founder Changpeng "CZ" Zhao also stepping down as CEO and pleading guilty to violating anti-money laundering requirements.

/crime

Celsius Network to pay back customers as bankruptcy case concludes

Celsius Network has received approval from a New York judge for a restructuring plan that will repay customers’ assets through new company owned by Celsius creditors and managed by Fahrenheit.

/payments

FTC bars Chargebacks911 from working with certain high-risk clients

The Federal Trade Commission and the State of Florida have reached a settlement with Chargebacks911 that prohibits the “chargeback mitigation” firm from working with certain high-risk clients and using deceptive tactics to stop consumers trying to dispute charges.

/retail

AIB apologises for online banking glitch

Irish high street bank AIB has admitted to a glitch in its online banking service after it was highlighted by newspaper The Irish Independent.

/crypto

New York sues Gemini and DCG for defrauding investors of $1.1bn

New York Attorney General Letitia James has filed a lawsuit against crypto firm Gemini and Digital Currency Group for allegedly defrauding nearly quarter of a million investors of more than $1 billion.

/payments

PayPal faces class-action suit claiming anticompetitive pricing rules

PayPal has been hit with a class-action lawsuit accusing the firm of anticompetitive "anti-steering" rules that leave consumers paying excess charges.

/people

Ex-Goldman associate charged with insider trading

US prosecutors have charged a former Goldman Sachs employee with securities fraud for allegedly tipping off friends about deals over Xbox chat.

/payments

US judge orders Apple to face Apple Pay antitrust suit

A US judge has told Apple it must face an antitrust class-action lawsuit from card issuers accusing the firm of preventing competition to its Apple Pay wallet.

/crypto

BIS chief calls on countries to modernise legal frameworks to support CBDCs

BIS general manager Agustin Carstens has called on countries to modernise their existing legal frameworks in a way that ensures legitimacy, privacy, integrity and choice for central bank digital currencies.

/payments

USAA secures cheque imaging patent agreement with Discover

Online military bank USAA has recorded another victory in its long-running effort to protect its remote deposit capture patents, reaching a licensing agreement with Discover Financial Services.

/crypto

Grayscale secures SEC legal win over bitcoin ETF

A US federal appeals court has sided with an asset manager in a lawsuit against the Securities and Exchange Commission (SEC) after the regulator denied an application to convert the Grayscale Bitcoin Trust into an exchange-traded fund (ETF).

/people

FTX founder sent to jail after bail revoked

Sam Bankman-Fried is heading to jail after a judge revoked the former FTX boss's $150 million bail package over alleged witness tampering.

/regulation

French privacy watchdog questions Worldcoin data collection legality

France's privacy watchdog says that the legality of Worldcoin's biometric data gathering "seems questionable," according to Reuters.

/crime

FTX sues Sam Bankman-Fried for $1bn

The former boss of failed crypto exchange FTX, Sam Bankman-Fried, is facing a $1bn lawsuit from the company he founded.

/payments

PayPoint faces law suit from energy charity

UK-based payment services provider PayPoint UK is facing legal action over alleged anti-competitive practices in the prepayment market

/retail

NAB supplier jailed over $19 million fraud scheme

The chief executive of a supplier to National Australia Bank has recieved a minimum eight-year jail sentence after being found guilty of multiple charges of fraud and bribery

/retail

Greenwood sued over failure to pay earn-out to The Gathering Spot

Black-owned digital banking platform Greenwood is being sued by the founders of The Gathering Spot (TPG), a members-only club for black professionals that it acquired for $50 million in May 2022.