Mastercard has reached a settlement in a groundbreaking lawsuit initiated by consumer advocate Walter Merricks on behalf of approximately 46 million UK adults.

As Europe advances toward enhanced open finance with the proposed Financial Data Access (FIDA) legislation, concerns are mounting among financial industry stakeholders.

Regnology, a leading software provider with a focus on regulatory reporting solutions, announced today the acquisition of VERMEG‘s regulatory reporting division – AGILE – which was previously part of the Lombard Risk portfolio.

The Consumer Financial Protection Bureau (CFPB) has highlighted the growing influence of platforms like Apple Pay and PayPal in the payments industry as Big Tech continues to blur the lines between traditional banking and commercial activities.

Ilya Lichtenstein has been sentenced for his role in a massive money laundering conspiracy stemming from the 2016 hack of the cryptocurrency exchange Bitfinex. Court documents revealed that Lichtenstein infiltrated Bitfinex’s network and executed over 2,000 transactions, transferring 119,754 bitcoin—worth $70 million at the time—into a wallet under his control. The stolen cryptocurrency’s value has since skyrocketed to an estimated $10.5 billion.

Citigroup is under investigation by U.S. government agencies, including the Department of Justice, the FBI, and the IRS, for its connections to sanctioned Russian billionaire Suleiman Abusaidovich Kerimov, according to Barron’s.

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued an alert to assist financial institutions in identifying fraud schemes involving deepfake media created with generative artificial intelligence (GenAI). The alert outlines fraud typologies, provides red flag indicators to detect and report suspicious activities, and emphasizes reporting requirements under the Bank Secrecy Act.