09/16/2024
Revolut reportedly applies for EMI licence with UAE central bank
Revolut first established an office in the Dubai International Financial Centre (DIFC) in 2022
Legal,Regulation,Tax & Compliance
09/13/2024
Google PaLM 2 AI model under scrutiny by Irish watchdog Data Protection Commission
It seeks to ensure, among other things, that the processing is necessary and proportionate and that appropriate safeguards are in place in light of the risks.
09/11/2024
How UBO verification can safeguard against financial crimes
This verification aids in mapping the ownership landscape of a company, which is pivotal for risk assessment and regulatory compliance with Anti-Money Laundering (AML) directives.
09/10/2024
Illinois Passes Artificial Intelligence (AI) Law Regulating Employment Use Cases
The amendment also covers generative AI (i.e., AI that is capable of generating text, images, audio, videos, or other content that would otherwise be produced by humans).
09/10/2024
FCA charges first individual with running a network of illegal crypto ATMs
If you're illegally operating a crypto ATM, we will stop you.
09/09/2024
High Court will take pragmatic approach to protect crypto fraud victims
The court considered whether the claimant had a good reason for serving its claim
09/06/2024
Grath expands operations to the Middle East
The new office at DIFC will serve as a central hub for Grath’s operations in the Middle East
09/06/2024
Binance Kazakhstan gains consent for full regulatory license
This achievement reflects our dedication to maintaining the highest standards of compliance, security, and operational excellence.
09/05/2024
Mastercard and Visa to face multi-billion pound lawsuit over interchange fees on UK businesses
Robinson continues: "We welcome the opportunity to hold Mastercard and Visa to account for imposing multilateral interchange fees at an unlawfully high level.
09/05/2024
Dutch data watchdog DPA fines Clearview AI $33.7m
In addition to the immediate fine, Clearview faces further penalties of up to €5.1m ($5.6m) if it continues to breach the GDPR regulations.
09/05/2024
Citi reports growing convergence of traditional and digital assets
Citi surveyed 500 market participants for its latest securities services white paper.
09/05/2024
Wirecard executives landed with €140 million damages bill in civil suit
In its ruling the Munich court said that the board’s decision was “untenable and at odds with the duty of care of a prudent businessman”.
09/04/2024
New Broadridge Whitepaper Highlights Operational Resilience and DORA Compliance Challenges Facing Global Financial Services
EU regulatory deadline requires a prompt industry response; globally, operational resiliency shortfalls can be addressed and scaled via mutualized services
09/03/2024
Fraudsters plead guilty to operating OTP scam site
Cyber investigators from the UK's national Crime Agency began probing the website in June 2020
09/02/2024
Fed governor Waller cool on interlinking fast payment systems
The interlinking of fast payment systems is a plank of the G20 roadmap for boosting cross-border payments.
09/02/2024
75% of top UK law firms promote their use of AI to clients
79% of UK lawyers said that they expect that AI will have a transformative effect on the legal profession
08/30/2024
Elon Musk, Tesla beat Dogecoin manipulation lawsuit
A US district court judge dismissed the lawsuit, saying that “no reasonable investor” could rely on Musk’s Dogecoin tweets for investment decisions.
08/29/2024
Flutterwave Secures Licence From Bank of Uganda, and Sets Sights on Young Ugandan Population
Flutterwave shared excitement about the news, highlighting the transformation of the digital payment landscape in Uganda, driven by a young population.
08/27/2024
Tech Expenses In Banking Sector May Soar 20% As Regulators Crack Down: S&P Global
Regulators implement stricter measures to improve banks' technology infrastructure and reduce customer downtime.
08/27/2024
KWM advises Ant digital technologies on inaugural cross-border Tokenised financing transaction
KWM provided support on all stages of the transaction, with a particular focus on the digital assets-related aspects as well as the innovative cross-border financing structure.