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Sunday, February 17, 2019
European Union banks will face higher hurdles in dealing with clients from countries including Saudi Arabia as the bloc moves to tighten controls on illicit financial flows. Panama and the U.S. Virgin Islands will also be put alongside Iran and North Korea on a new EU roll call of 23 […]
Spain’s central bank has issued a reminder to citizens warning of the risks involved in transacting unregulated cryptocurrencies. The Bank of Spain’s notice, issued Feb. 10, followed an official blog post published two days earlier, which had outlined the institution’s stance on cryptocurrencies, their characteristics, and their legal status in […]
Cryptocurrencies have been a headache (if not a nightmare) for the law. Ever since Ross Ulbricht launched the Silk Road online marketplace in February 2011, Bitcoin and its ilk have been disrupting the ability of authorities to police the globe, and to ensure that norms, regulations and laws are being […]
I predict we’ll look back on 2019 as the breakthrough year when the U.S. financial agencies moved, each and all, to begin the digital modernization of regulation and compliance. Regulatory change is slow by nature — by design, really, because getting things wrong can do so much damage. It’s also […]
The place of technology has transformed in our lifetime, moving from the mainframe to the palm of our hands. Once it meant efficiency, but now it’s enabling our lives, and whole economies, to change. In the 1970s, my mother was a COBOL programmer, working for Hammersmith Council. There were sandbags […]
Half of consumers in Hong Kong are happy to let third-parties access their financial data so they can access more personalised banking services and higher returns, according to a study from Accenture. Accenture, a financial solution developer, conducted an online survey of 2,010 Hong Kong consumers late last year, with […]
Singapore’s main prosecuting body, the Attorney General’s Chambers, or AGC, which looks after crime and financial sector cases, is to launch an automated litigation analysis work platform to improve efficiency in its courts. It is also set to embrace large scale text analytics for major evidence reviews. And, the important […]
Ah, latency. That seven-letter word takes nearly seven seconds to say and what feels like forever to settle. In simple terms, latency is the delay before data is moved. In the banking world, latency is the time it takes for money to move across a ledger, which is a book […]
From July next year if the name doesn’t match with the account and sort code the payment won’t go through. It’s taken too long to get to this point With a little luck 2019 will not be a happy new year for fraudsters. Pay UK, which maintains the UK’s payments systems, […]
Banks have been at the forefront of cybersecurity for years, investing heavily to protect some of their clients’ most valuable and sensitive information. Such heavy investment in cybersecurity is increasingly the cost of doing business in financial services, but it also presents an opportunity for banks to generate a return […]
