Compliance

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.

The Bank of Korea (BOK) has revealed it is planning to initiate its central bank digital currency (CBDC) pilot later this month.

The US Securities and Exchange Commission (SEC) has charged two men and their Cayman Islands-based company for unregistered sales of over $30m of securities through smart contracts and decentralised finance (DeFi) technology.

The Bank for International Settlements (BIS) has published a paper underlining the challenges caused by rapid Big Tech growth in the financial services sector.

The Monetary Authority of Singapore (MAS) has revealed it has been working with legal and industry partners to develop a platform to help banks securely share information.

A recent whitepaper by Celent has provided financial institutions (FIs) with tips on how to bolster their adverse media screening coverage to combat financial crime.

The European Banking Authority (EBA) has issued a consultation on the role, tasks and responsibilities of anti-money laundering and counter-terrorism financing officers.

Ernst & Young LLP to pay $10m to settle a regulatory investigation into allegations that it improperly obtained confidential information in pursuit of a contract to audit a public company’s books.

Amazon has been issued with a fine of $887m by a European privacy watchdog for breaching the bloc’s data protection laws.

Digital bank Monzo is being investigated by the Financial Conduct Authority (FCA) over potential breaches of financial crime regulations.