SEC Chair Mary Jo White made it clear that cybersecurity remains the biggest threat facing the financial system. At the Reuters Financial Regulation Summit in Washington, D.C, White gave a candid assessment of the risk digital attacks pose to Wall Street and voiced her concerns...
On Wednesday (May 18), the Consumer Financial Protection Bureau said that it, along with four other federal regulatory agencies, issued guidance covering the oversight of consumer deposit discrepancies. The agencies said that the interagency guidelines state that the banks should “avoid or reconcile” what is...
Mobile payments make for interesting pairings — a fact demonstrated earlier today by Alibaba and Samsung. The Chinese eCommerce giant and the Korean device powerhouse are joining forces to make it easier to pay the Alibaba way via Samsung devices. Going forward, Samsung Electronics plans...
Apparently, Paytm feels pretty good about its five-year plan. Or, at least, the owner of the India-based online payments processor, One97 Communications (which itself is owned by Alibaba), does, having recently told Bloomberg that it currently controls enough funds to last five years, a timeframe...
Payroll cards are the lightning rod of the payments industry, with advocates and detractors. The restaurant industry, specifically eatery operator Darden, serves as only the latest breeding ground for controversy, and yet, as in all tales, there are several sides to every story in this...
Socure announced a major upgrade to its digital identity verification solution, which now encompasses expanded compliance coverage and global watchlist filtering. The update now puts the solution’s adopters in a stronger position to meet American and international regulations for interdicting known or suspected money launderers, terrorists, criminals, politically...
ATM skimming just got taken to the next level. Kaspersky Lab announced new research regarding a hacker collective, known as the Skimer group, that uses malware to essentially make an ATM steal users’ money. Instead of putting skimmer devices on the ATM, this group makes the entire ATM a...
Raymond James has been fined $17 million in the wake of findings by the Financial Industry Regulatory Authority (FINRA) that the financial services company has shown failures in its internal controls geared toward money laundering. The regulatory agency said on Wednesday (May 18) that this...
Samsung has seen the benefits of loyalty, and it is making it a part of its mobile wallet. The electronics company announced yesterday (May 18) that Samsung Pay users in the U.S. will now be able to access merchant loyalty and rewards programs within the...
