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Payment Security

Source: e& enterprise

e& enterprise today announced its strategic partnership with Fils, a groundbreaking fintech platform, establishing a new standard in the digital payments sector by promoting sustainability.

Source: Payment Systems Regulator

The Payment Systems Regulator (PSR) has appointed Dan Moore as its new Head of Strategy and Intelligence.

Financial regulatory authorities from the United Kingdom, Singapore, Switzerland, and Japan have initiated a collaborative effort to explore potential applications of fund and asset tokenization as well as decentralized finance (DeFi).

Source: Riskified

Riskified (NYSE:RSKD), a leader in eCommerce risk intelligence, today announced its partnership with Deloitte, a leader in fraud and financial crime advisory services, to empower merchants with real-time insight into how their chargebacks, approval rates and fraud costs compare to similar companies in their space.

Source: ACI Worldwide

Authorized Push Payment (APP) scam losses are on the rise and expected to climb to $6.8 billion — a combined compound annual growth rate (CAGR) of 11% — by 2027 across six leading real-time payment markets (U.S., U.K., India, Brazil, Australia and Saudi Arabia) according to Scamscope, a new report by global payments software company ACI Worldwide and GlobalData, a leading global analytics firm.

London's Leading Fintech Companies Unite to Demand Urgent Review of Hidden Bank Fees for International Payments.

Source: DCMA

Today, at the International Monetary Fund (IMF) Spring Meetings 2023, the Digital Currency Monetary Authority (DCMA) announced their official launch of an international central bank digital currency (CBDC) that strengthens the monetary sovereignty of participating central banks and complies with the recent crypto assets policy recommendations proposed by the IMF.

The Consumer Financial Protection Bureau (CFPB) is aiming to extend regulatory oversight to tech giants like Apple and Google, which provide digital payment apps and wallets.

Australian banks have introduced a digital platform called the Fraud Reporting Exchange (FRX) in an effort to crack down on authorized push payment scams. The platform enables the reporting of fraudulent payments in near real-time, increasing the chances of freezing and returning funds to affected customers, thus disrupting fraudsters and scammers.

Consumer lender Latitude Financial has disclosed a major data breach that resulted in the theft of 14 million customer records, including personal information, drivers licenses, passports, and financial statements.

Lloyd's of London, the insurance marketplace, has issued a cautionary statement, suggesting that a major cyber attack on a systemic payments system could result in a staggering $3.5 trillion economic impact on the world.

Coinbase has filed a suit against the Securities and Exchange Commission, asking a court to make the regulator respond to a petition from last year on the "rules to govern the regulation" of digital assets.

Silvergate Bank has gone into liquidation, raising further concerns about rising volatility in the crypto sector.

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