211 Results from 2021, /regulation
Garima Chaudhary Head of Fin. Crime Solution Consulting at Oracle
Introduction The Financial Conduct Authority (FCA), the regulator of financial markets in the U.K., flexed its muscles in March of this year when it launched its first attempted prosecution for anti-money laundering (AML) failings against NatWest. A couple of months later, David Geale, the Director of Retail Banking and Payments Supervision for th...
20 October 2021 /regulation /crime Financial Services Regulation
Debbie Hayes Product Marketing Manager at GMO GlobalSign
Anyone who is paying attention knows the financial industry is going through an unprecedented digital transformation which has been accelerated by the coronavirus pandemic. At the same time, cyberattacks, particularly ransomware attacks, grow in number by the day. The results of a study by the Ponemon Institute and Keeper Security in January sho...
20 October 2021 /regulation /crime Financial Risk Management
Retired Member
NatWest has recently pleaded guilty to three counts of failing to comply with anti-money laundering (AML) legislation. The bank’s CEO Alison Rose said that the bank “failed to adequately monitor and therefore prevent money laundering by one of our customers between 2012 and 2016.” This news will undoubtedly add to the disappointment expressed by i...
19 October 2021 /regulation /crime Banking Regulations
Shagun Varshney Senior Product Manager at Signifyd
It’s clear to see that the increased need for online shopping is here to stay, and as we enter the busy Christmas season, things are only going to get busier for retailers. And as orders increase, so does the risk for fraudulent activity. Whilst fraud does have a detrimental impact on the retailers bottom line, it is not actually the fraud itself t...
18 October 2021 /payments /regulation
Yahya Mohamed Mao Head of Business Development & Marketing at Swiss GRC
Cyber security Awareness Month continues in its 18th year to raise awareness of the importance of cyber security and to ensure that everyone has the resources they need to be safer online. For consumers it is vital that they are aware of the dangers posed by hacker attacks and ransomare on their accounts. Threats to banks, investment firms and in...
18 October 2021 /regulation /crime Data Management and Governance
Pavlo Farb Security Engineer at Cossack Labs
In fintech, user’s data protection is among the top priorities requested by regulations, but surprisingly they are mapped onto real-world risks. As a data security engineer, I can say that while it might look like much work to comply with GDPR, CCPA, PCI DSS, FFIEC, etc., these regulations exist not to add problems but to prevent them and protect ...
18 October 2021 /security /regulation Fintech
Luigi Wewege President at Caye International Bank
One of the downsides of the Internet is the dissemination of misinformation. That has led some to believe that US citizens cannot open and maintain offshore bank accounts, investment accounts, and other types of financial resources. That’s not the case. While some things have changed over the years, the truth is that US citizens are free to open ac...
17 October 2021 /regulation /inclusion Financial Services Regulation
Matt Sanders Director of Security at LogRhythm
Banks and other businesses in the financial services industry are prime targets for cyberattacks with the plethora of sensitive information contained in customers’ files, especially as more of the world transitioned to online banking and alternative/contactless forms of payment during the pandemic. Now, a new wave of embedded finance, Banking as a...
14 October 2021 /security /regulation Information Security
Steve Goddard FME at Featurespace
In March, a bakery owner in South West England received a curious SMS from her bike courier. The baker, whose canelés are famous in her city, supplies pastries to nearby cafes and other bakeries. She relies on couriers to get fresh pastries to those businesses early in the morning, and the bakery and the courier service have a years-old partnersh...
13 October 2021 /regulation /crime Financial Risk Management
All Scale Ups eventually face the same challenges as they outgrow their Start Up status. How to continue acting nimbly and doing what they do best, whilst simultaneously retaining their growth curve and building trusted positions in their ecosystem? According to Willem Mosterd and Josje Fiolet, becoming and remaining a successful Scale Up relies o...
08 October 2021 /payments /regulation Sustainable compliance
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