The Financial Industry Regulatory Authority (Finra) has fined Robinhood $57 million and ordered the trading app to pay approximately $12.6 million in restitution, plus interest, to thousands of "harmed customers".

Source: Monetary Authority of Singapore

The Monetary Authority of Singapore (MAS) today announced the successful conclusion of the first phase of the Veritas initiative which saw the development of the fairness assessment methodology in credit risk scoring and customer marketing.

Source: ACI Worldwide

ACI Worldwide, a leading global provider of real-time electronic payment and banking solutions, today announced that ACI Proactive Risk Manager and ACI Model Generator, part of ACI’s Payments Risk Management solution, can now be deployed in a private or public cloud environment by all existing customers globally.

The former chairman of a UK group that represents the payment services industry has been convicted of laundering the proceeds of an investment fraud worth £850,000 and involving more than 60 victims.

Credit referencing agency Experian has been ordered to make fundamental changes to how it handles people’s personal data after an investigation into its data broking activities by the Information Commissioner's Office uncovered serious breaches of privacy laws.

Australian bank Westpac has blamed the failure of its anti money laundering (AML) processes on a mixture of technology and human error rather than any intentional wrongdoing, according to a report commissioned by the bank's former chairman Lindsay Maxsted.

Source: Georgetown McDonough School of Business

The rapid growth of the dynamic FinTech industry in MENA has led to new business models, technologies, regulatory reforms and use cases being deployed across the region.

Stock trading app Robinhood is being investigated by the Securities and Exchange Commission for failing to disclose that it sold clients' orders to high speed trading firms, according to the Wall Street Journal.

Francesca Hopwood Road, head of regtech at the FCA drilled down on how the hiring process structurally worked against the employment of females in regtech during the Regtech Women’s event ‘Cracking Communications: Be effective, be confident, be compliant’.

Robinhood has stopped users from buying several stocks - including GameStop - at the centre of the Reddit-led price rally. In a blog, Robinhood says it is "restricting transactions for certain securities to position closing only". Others, including TD Ameritrade, have also put restrictions in place.

Jan Marsalek, the elusive former chief operating officer of defunct German payment processors Wirecard, has been put on Interpol's most wanted list as German prosecutors plead on TV for leads to the disgraced executive's whereabouts.

ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced the launch of its new Incremental Learning technology – an innovative industry-first approach to machine learning that will enhance fraud protection for merchants and financial institutions and their customers.