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BankingHow Banks Can Meet Compliance Requirements as Russian Sanctions Increase
Top StoriesWhat Germany’s New Human Rights Due Diligence Law Means for UK Companies
TechnologyCompliance and Security: Two Problems That One Data Layer Can Handle for the Global Banking Industry
TechnologyWhy Big Tech’s Approach Doesn’t Apply to Global Finance
Enough Is Enough. Banks Must Stop Turning a Blind Eye to Financial Crime
Date: May 9, 2022
By Ivan Zhiznevskiy. Co-Founder and CEO, 3S Money The United Nations estimates that up to $2 trillion is laundered every year. Shockingly, they also estimate that banks help catch less than 1% of this crime. And, sadly, the UK ranks second in the money laundering hall of shame. Fintechs are sometimes blamed for this, with...
EU Industry Chief Breton to Meet Musk on Free Speech, Chips, Batteries
Date: May 9, 2022
By Foo Yun Chee BRUSSELS (Reuters) – EU industry chief Thierry Breton will meet Tesla Inc boss Elon Musk in Texas on Monday to discuss global supply chain issues and the bloc’s newly agreed rules requiring tech giants to do more to police online content, Breton’s spokesman said. The meeting comes weeks after the world’s...
Attention Bsa Officers: What the Ongoing War in Ukraine Means for Financial Institution in the U.S.
Date: May 5, 2022
By Rene Perez, Financial Crimes Consultant at Jack Henry & Associates More than two months ago, on February 23rd at 5 a.m. local time, Russia invaded Ukraine. Since then, media channels and social media news feeds around the world have been covering developments daily, including the implementation of economic sanctions on Russia. Since the beginning...
The Fca Has Highlighted the Operational Resilience Problem – Now Here’s the Solution: It’s Called Low-Code
Date: May 5, 2022
By Yad Jaura, Product Marketing Manager at Netcall The end of March marked an important date for financial organisations in the UK. The Financial Conduct Authority (FCA) made it compulsory for firms to focus on their operational resilience and to have identified their most important business services and set impact tolerances. The overarching aim of this is...
With Apple Fight Ongoing, Dutch Watchdog Acm to Investigate Google Play Store Practices
Date: May 4, 2022
AMSTERDAM (Reuters) -The Netherlands Authority for Consumers and Markets (ACM) announced on Wednesday a preliminary investigation into Alphabet Inc’s Google for possible anti-competitive practices in its Play store. Tinder owner Match group had asked the regulator to assess whether Google is abusing a dominant position in the dating app market. “Dating-app providers allegedly are no...
German Regulator Imposes Tougher Rules on Facebook Owner Meta
Date: May 4, 2022
BERLIN (Reuters) – Germany’s cartel office said that Meta Platforms Inc, the owner of Facebook, has “paramount significance for competition across markets”, a classification which gives the regulator more leeway to curb digital companies’ market power. Under legislation introduced by German lawmakers in early 2021, the cartel office can ban what it deems to be...