Managers of Wealth Fintech

Up to a quarter of APP fraud victims could lose out under new reimbursement rules

By monetary value, cases under £100 account for a small amount of overall fraud losses - at one percent.

FCA fines GT Bank £7.8 million for serious AML compliance failings

The bank also failed to monitor customer transactions and business relationships to the required standard.

Jack Ma to give up control of fintech giant Ant Group

However, after the changes in governance structure, he will control just over 6%, according to an Ant Group statement.

Romania Carries Out Raids as Part of Crypto Tax Evasion Probe

Police and tax officials in Romania have carried out 17 raids in the fall of last year as part of an investigation against persons accused of evading taxation by concealing profits from transactions with cryptocurrencies, local media revealed.

Data protection enforcement power struggles highlighted in Meta case

It used its powers to do so under a regulatory cooperation mechanism that operates under the EU’s General Data Protection Regulation (GDPR).

JPMorgan must face Ray-Ban lawsuit over cyber theft

The criminals had recruited one of its employees in Thailand to make the fraudulent transactions, which resulted in regular monthly transfers jumping from $15 million to $100 million.

New York sues Celsius founder Mashinsky

In addition, the suit says, as Celsius lost hundreds of millions of dollars of assets in risky investments, Mashinsky misrepresented and concealed his firm's deteriorating financial condition.

Finland's Coinmotion achieves crypto registration in Spain

This means that Coinmotion reinforces its presence in the Spanish market and becomes one of the leading cryptocurrency platforms nationwide

Coinbase promises improvement in the fight against money laundering

The agency noted that Coinbase had treated customer onboarding requirements as “just ticking” and had failed to conduct sufficient background checks.

US regulators warn banks of crypto exposure risks

Lawmakers highlight risks from fraud and scams, high volatility, legal uncertainties and inaccurate or misleading representations and disclosures by crypto-asset companies.

FTX Founder Expected to Plead Not Guilty

The fallen crypto exchange’s former chief executive faces two wire fraud charges and six conspiracy charges, including money laundering and compliance finance violations, which total a maximum of 115 years of imprisonment, if convicted.

CSRC Bans Platforms from Soliciting New Mainland Clients

CSRC’s statement was made one day after New York-listed Futu announced that it would delay its listing plans in Hong Kong

Termination of the Merger of Block.one Crypto Exchange with a SPAC

Block. Bullish, a cryptocurrency exchange, won’t be going public after all.

New bank 'esh' modernizes banking with advanced tech platform

The Bank of Israel granted the license to establish, manage and control a new Israeli bank to the founders of esh.

Goldman Sachs deepens banking partnership with Apple

It is also handling some of the back-end services for Apple’s buy now, pay later offering, although as PYMNTS reported in June, Apple will handle the lending for the service on its own rather than using a banking partner.

Leading UK fintechs call for “urgent” clarity on open banking’s future

Monzo, Wise, Moneyhub and more than a dozen other fintechs have written to the FCA and PSR to complain about the progress so far.

Bankman-Fried left in the lurch as former executives plead guilty

In doing so, Bankman-Fried and Ellison caused the valuation of Alameda’s FTT holdings to be inflated

Hidden Road secures digital asset firm registration from the UK's FCA

Currently, only 41 firms have been registered as digital asset firms by the FCA.

TSB fined £49m over IT system meltdown

It led to the departure of the bank's then chief executive Paul Pester.

Digital euro to get thumbs up or thumbs down in 2023

The central bank says it will assess a further number of design and distributions options before presenting a full report to the Governing Council later next year.

Legal,Regulation,Tax & Compliance