Compliance

Seven months have passed since the U.K.’s biggest banks were mandated to release open APIs for their customers’ account information under open banking and European Union PSD2 regulation. The process was completed by mid-April, but it fell short of creating a truly open system for data sharing.

Bank of America and several other large U.S. financial services companies, as part an effort organized by the Thomson Reuters Foundation and Western Union, have published resources to help smaller banks spot signs of forced labor and kidnapping.

Kevin Jenkins, former managing director of Visa U.K. and Ireland, joined the board of London-based fintech Nuggets to oversee business development for the blockchain-based security provider as it enters the massive mobile payments market in Asia.

After the National Credit Union Administration asked for comments on proposed revisions and expansions to its Payday Alternative Loan program, credit unions offered their suggestions for how to fix it.

After 20 years of working with a clunky, time-consuming 3-D Secure authorization method for online purchases, the wheels are finally in motion to get the upgraded 2.0 version in place for merchants and banks, granting access to more data for spotting fraud.

One community bank decided it can build closer relationships with business clients by hosting events to help them learn how to fortify their cyberdefenses.

Financial institutions are hoping to get ahead of the growing and seemingly insurmountable problem of payment card fraud not just by looking at who cyber-attackers are going after currently but who they are likely to defraud in the near future.

As the state phases in tougher requirements from its 2017 regulation, federal agencies continue to show an interest in updating their cyber policies.

The Michigan company had been operating under the supervisory agreement since 2010.

After warnings of an impending major ATM cash-out had bank security teams working overtime last weekend, crooks made off with over $13 million over the weekend in a double attack on India’s venerable Cosmos bank.