CFPB Issues First-Ever Fine Over Remittance Rule Failings
The U.S. Consumer Financial Protection Bureau (CFPB) has announced its first-ever enforcement action based on …
Moorwand Facing Claims It Processed Scam Payments
UK e-money firm Moorwand is facing claims from alleged investment fraud victims that it processed …
Danish Bank Warned Over AML Risk As Regulator Talks Up Powers
Danish regulators have issued a warning to Coop Bank over its vulnerability to money laundering …
Australia: ACCC Seeks Feedback from Potential Data Recipients for CDR Testing and Accreditation
On August 23, 2019, the Australian Competition & Consumer Commission (ACCC) launched testing in which firms …
U.S. Officials Enlist Financial Sector In Crackdown On Opioid Trafficking
U.S. authorities have issued a new advisory to banks and money transmitters over foreign narcotics …
Portugal: Council of Ministers Publishes Resolution to Create Coordinating Council of Financial Institutions
On August 20, 2019, the Council of Ministers published Resolution No. 140/2019, which approves the …
It's No Embargo, But Venezuela Sanctions Likely To Send Firms Fleeing
The White House announced last week, via an executive order, that U.S. firms would be prohibited from dealing …
U.S. Brings Down Embargo Hammer On Venezuelan Regime
U.S. President Donald Trump has issued an executive order freezing the assets of the Venezuelan …
Italy Agrees To SCA Delay As Authorities Await Guidance From Europe
Italy has become the latest EU member state to acknowledge the European Banking Authority’s flexibility …