The introduction of new regulations and real-time payment rails has created challenges for cross-border payments firms looking to grow their business. The payments industry in the UK is adjusting to the new reality of APP fraud reimbursement, while in Europe, […]
Despite being the second-smallest country in Europe, Monaco is considered a major international banking center. It is not a member of the European Union but uses the euro through a monetary union with France that was established in April 1945. […]
In February 2024, the European Parliament issued new regulations to ensure financial transactions reach their recipients instantly across the European Union. The new rules update certain regulatory requirements for banks and other types of payment service providers (PSPs). In addition […]
Monex is a global e-money institution that specializes in commercial foreign exchange (FX) services. Headquartered in Mexico, the Monex group of companies has experienced significant growth in recent years, serving a wide range of customers from financial institutions (FIs), large corporates, […]
In Luxembourg, three main national regulatory authorities are responsible for supervising financial products and services: the Luxembourg Ministère des Finances, the Banque centrale du Luxembourg (BCL), and the Commission de Surveillance du Secteur Financier (CSSF). This article focuses on the […]
ComplyAdvantage is pleased to announce two significant updates to its PEP data following the recent general elections in the UK and France. UK general election Following the UK general election on July 4, 2024, the BBC called the result a […]
Following a review of its AML/CFT framework, the European Union is preparing to introduce a suite of new regulations that will have significant implications for firms operating in, or doing business with, EU countries.
Allianz Benelux offers life, health, and property insurance for individuals and small to medium businesses (SMBs) in Belgium, the Netherlands, and Luxembourg. The company is part of the global Allianz network – one of the world’s largest insurance companies, with […]
Following October’s plenary, the Financial Action Task Force (FATF) issued new guidance relating to cyber-enabled fraud (CEF). In the report, the global watchdog analyzed how the cyber fraud landscape has evolved, its links to other crimes, and how criminal syndicates […]
On March 17, 2023, the French Ministry of Economy introduced changes to the definition of politically exposed persons (PEPs) and, consequently, has expanded the scope of AML regulations. Although these modifications appear substantial, the adjustments made by the French government […]
On 7th June, the UK Payment Systems Regulator (PSR) announced new reimbursement requirements for authorised push payment (APP) fraud victims. In this blog and my video below, I break down what the announcement means and – as someone who has […]
Would a greater focus on predicate offenses make the fight against money laundering more effective? Until recently, the focus for many financial institutions (FIs) has been on detecting money laundering and retrieving the proceeds of crime. And given that the […]
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