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The P2P Fraud Conundrum

“Have you ever received an automated message from your bank warning you about an unauthorized payment? If so, you may want to think twice before acting on it. According to a recent report in The New York Times, some individuals have received instructions to send payments through peer-to-peer (P2P) payment apps such as Zelle or Venmo to reverse supposedly fraudulent transactions, only to […]
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Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments

“The Ministry of Finance of Russia recently submitted to the government an updated version of its bill “On Digital Currency” designed to comprehensively regulate the country’s crypto market. Details about the law’s provisions have surfaced in Russian media reports this week. According to the draft, qualified investors, or “professional purchasers of digital currency” as they […]
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Hungarian national m-payment system struck down by EU court

“The EU Court of Justice has struck down Hungary’s national mobile payments system, saying the monopoly violates the EU’s Services Directive. The European Commission brought the case against the country. The company Nemzeti Mobilfizetesi operates the national mobile payment system since 2014, and use of its services is mandatory for mobile payments of public parking charges, road […]
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U.S. Proposes a National Framework for the Regulation of Fintech

“The Treasury Report and OCC Policy Statement lay out an expansive framework to improve the national regulation of the Fintech sector. In particular, the issuance of special purpose charters for Fintech companies, the codification of guidance for sponsorship arrangements between banks and Fintech companies (and proposed legislative fixes to shore-up the sponsorship model), the push […]


Online Lenders And Payment Companies Get A Way To Act More Like Banks

“Online lenders and other so-called fintech firms — including the payment processor Square, the online lender Lending Club and the cryptocurrency exchange Coinbase — have pressed for regulatory routes that would let them cut through the thicket of state and federal laws that govern financial businesses. Heeding those requests, the Treasury Department released a 222-page report laying […]

On The Wires



IDnow Announces Partnership With Interpol

“IDnow , a leading European provider for identity proofing, has announced a partnership with the International Criminal Police Organisation – Interpol. The 12 month collaboration will see IDnow experts deliver a series of training programmes to local law enforcement and immigration departments, starting in Abu Dhabi later this month. Lovro Persen, Director Document Management & Fraud at […]