Managers of Wealth Fintech

Dave faces US lawsuit

The action also alleges that Dave engaged in hidden fees, misuse of customer tips and inadequate cancellation processes for recurring charges.

Drama-prone fintechs face mixed regulatory environment in 2025

In Europe, by contrast, policymakers continue to take a cautious approach to the industry.

Central Banks Need to “Raise Their Game” as AI Gains Steam, BIS Says

There are also implications for inflation — firms that use AI may be able to adjust prices more quickly on the back of macro changes.

City regulators to start oversight of tech firms that provide ‘critical’ services to UK

New powers come amid concerns that cyber-attacks and outages could put the country’s financial stability at risk

Italy’s data protection authority cracks down on OpenAI for privacy violation

This case forms part of broader regulatory efforts across the globe, particularly in the U.S. and Europe

EPC issues RFP for API Test Toolbox for verification of payee

The RFP will run from 23 December 2024 and the deadline for submissions, is Friday 17 January 2025.

EDPB opinion spurs need for GDPR AI adaptability, say experts

The mere fact that an AI system is involved in processing personal data does not change the overall principles of data privacy.

HKMA picks 10 banks, 4 tech firms as Hong Kong evaluates commercial benefits of GenAI

Participants will be onboarded to a platform of an AI supercomputing centre operated by Cyberport, with technical trials expected to begin early next year

Scammers create fake Cayman Crypto Bank website

Individuals are encouraged to remain vigilant and carefully verify the authenticity of entities or websites they engage with.

IT consultant found guilty of murder of Cash App founder Bob Lee

The jury spent seven days deliberating the evidence before giving their verdict.

Bulgarian market successfully joins EU's Target Instant Payment Settlement service

The move supports Bulgaria’s plan to join the euro area.

CFPB Finalizes Rule to Supervise Large Nonbank Digital Payment Companies

Digital payment apps have rapidly transformed from a convenience to an essential financial tool for millions of consumers.

SEC charges Cantor Fitzgerlad over misleading Spac disclosures

Cantor Fitzgerald has agreed to pay a $6.75 million civil penalty to settle the SEC’s charges.

Ireland to prepare new AML legislation on crypto assets ahead of December EU deadline

Ireland has emerged as an attractive destination for crypto firms setting up their European operations.

Advising on the world’s first regulated DEX and securing a Class M Digital Asset Business License

This is a significant step forward in bringing decentralized finance (DeFi) to the mainstream.

Klarna fined $50 million over AML violations

In addition, the BNPL giant did not have procedures and guidelines that capture all situations for when due diligence measures should be taken for customers that use Klarna's invoice product.

Turning grey to gold: how simplified compliance drives success in a greylisted South Africa

At the same time, it is critical that these improved FICA compliance strategies don’t hinder client engagement and onboarding – making it important for FSPs to approach compliance holistically.

Digital identity services in Bermuda

Under the supervision of an Office for Digital Identities and Attributes, the UK DIATF defines the rules, standards and governance oversight for all DISPs.

Google files lawsuit over CFPB supervisory order

The suit argues that the supervision is unwarranted, with company representatives reportedly describing consumer complaints cited by the CFPB as “unsubstantiated.”

Advisers increasingly incorporating artificial intelligence tech

There are huge opportunities in the advice market, which is crying out for innovation like this.

Legal,Regulation,Tax & Compliance