Compliance

Reserve Bank of India has indefinitely barred Mastercard from issuing new debit, credit or prepaid cards to customers in the South Asian market over noncompliance with local data storage rules.

Toronto-based Resolver, which provides software for the risk, security and compliance markets, has raised $20m in funding.

Final guidelines aimed at bolstering third-party risk management in banking organisations have been issued by a cohort of federal bank regulatory agencies. This initiative is designed to help such institutions better navigate the risks arising from relationships with third-party entities, with a particular emphasis on financial technology, or FinTech, enterprises.

Taiwan’s Financial Supervisory Commission (FSC) has introduced new data sharing guidelines.

Kyckr, a Know Your Customer RegTech provider, has raised $5.3m via a placement from a small group of institutional and sophisticated investors.

RegTech company PassFort has partnered with financial market data firm Refinitiv to establish a digital know-your-customer (KYC) solution for challenger institutions.

German financial regulator BaFin has told banking giant Deutsche Bank it needs to introduce stronger action on money laundering.

The US' Office of the Comptroller of the Currency has received 19 comment letters expressing distaste for its innovation hub.

Finastra has teamed up with financial crime specialists Fincom and ThetaRay to offer pre-packaged compliance screening for banks delivering instant payments.

The Financial Conduct Authority (FCA) has secured changes to potentially damaging terms in the contracts providing by a select number of buy now, pay later (BNPL) firms.