FCA receives over 2,700 financial misconduct complaints over 2020/21
The Financial Conduct Authority (FCA) has revealed it received a total of 2,754 allegations of financial misconduct over the 2020/21 financial year.
Reserve Bank of New Zealand underlines rising bank resilience from stress tests
Recent stress tests by the Reserve Bank of New Zealand (RBNZ) have shown increasing resilience in the banking sector and the benefit of continue to build capital buffers.
Will cyberspace be a battlefield for financial institutions?
The cyberspace race is heating up. Over the past year, the number of ransomware and general cyberattacks have increased dramatically, with more companies, individuals and even governments falling into digital bear traps. How will this growing problem impact financial institutions?
RBI publishes consultation on overseas investment liberalisation
The Reserve Bank of India (RBI) has introduced two consultation papers with an aim of liberalising the county’s overseas investment regulatory stance.
SEC fines Poloniex $10m for operating unregistered crypto exchange
The US Securities and Exchange Commission (SEC) has slapped a $10m fine on crypto firm Poloniex for operating an unregistered cryptocurrency exchange.
How financial firms can detect and prevent fraud by using network analytics
The proliferation of internet banking and digital sharing have made it easier than ever for fraudsters to attack financial institutions and organisations must use sophisticated methods to prevent financial crime and risky activities.
How to ensure security and compliance when using tools such as Zoom, MS Teams?
Communication tools have saved the day for businesses after the Covid-19-induced global lockdown. Therefore, organisations must fully understand the regulatory guidance on security and privacy so they can continue to implement and expand their use of tools such as Zoom and MS Teams.
Kroll introduces new KYC solution to strengthen checks, onboarding efficiency
US firm Kroll has introduced Kroll Business Connect, a new know-your-customer (KYC) tool to bolster the onboarding efficiency and KYC checks.
Why increased regulation and compliance requirements might be a concern for FinTechs
Regulatory compliance is constantly changing and creating a ripple effect with consequences impacting the global financial sector. While keeping up with the changes can be challenging, FinTechs must have solid risk management controls in place to ease this burden.
Plaid to pay $58m to settle a class-action lawsuit centered on data privacy
Plaid agreed to pay $58m to settle a class-action lawsuit where consumers' claimed that the financial technology company obtained and used bank account credentials and financial information without consent.
© FinTech Global © Copyright 2024. All rights reserved.
