Ireland's Central Bank has imposed a €1.66m fine on Bank of Ireland (BoI) for a regulatory breach that saw one of its subsidiaries transfer more than €100,000 to a hacker that had illegally accessed a client's email account.

European Union officials have suggested that there will be changes in the supervision of fintech firms in the wake of the £1.8bn accounting scandal at German payments firm Wirecard.

Stablecoins could be attractive to criminals and terrorists if they reach mass-adoption, warns the Financial Action Task Force (FATF) which nevertheless concludes that its revised standards can mitigate the risks - as long as these new coins are centralised.

Source: ISACA

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New York's financial regulator is preparing to remove a number of regulatory hurdles impeding the development of cryptocurrency businesses in the US state.

The FCA has today fined Commerzbank AG (London Branch) £37,805,400 for failing to put adequate anti-money laundering (AML) systems and controls in place between October 2012 and September 2017.

In a letter to the European Parliament dated 15 June 2020, Andrea Jelinek, chair, European Data Protection Board (EDPB) raises concerns over the UK’s endeavour to reach an ‘adequacy decision’ with the EU following the end of the Brexit transition period.