A lawsuit alleging that JPMorgan missed several suspicious transactions allowing the theft of US$272m from one of its clients, will now go ahead
Our latest blog takes an updated look at SPACs and their potential risks as the market comes under heavy scrutiny from US regulators
The Zelle payments scam debate: should banks be responsible for refunding victims of fraud and what are the potential implications if this is the case?
The UK’s Payment Systems Regulator (PSR) has fined Barclays for not being clear about the fees it charges retailers on card transactions.
Never has the phrase “meteoric rise” felt so appropriate. At the height of its success, FTX processed more than US$6bn in spot trade volume, with an average daily trade volume of US$2bn. It was valued at US$32bn in January 2022, making it one of the world’s most valuable crypto companies at that time.
AI regulation is still very much in the development phase, despite use of the technology being widespread. This is because of the fast-moving nature of AI and ML; the technology is evolving all the time, leaving governments and regulators to play catch up. However, several jurisdictions are making moves to address gaps in regulation for the use of AI in the financial sector.
German financial regulator, BaFin, has published a statement threatening to take action if Deutsche Bank does not work faster to address failings in its AML measures.
A report released by FinCEN (the US Financial Crimes Enforcement Network) this week has revealed a significant uptick in the number of ransomware attacks reported by financial institutions in the second half of 2021, most of which are believed to be coming from Russia.
In a bid to help financial institutions keep up with developments in payments system fraud, the EBA has made the latest version of its fraud taxonomy publicly available.
People in Lebanon are “robbing” banks to withdraw their own money in a spate of heists carried out by angry and desperate Lebanese citizens in recent weeks.
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