HSBC is the second bank this week to be handed down a fine by the FCA for failings in its anti-money-laundering (AML) processes, being hit with a £63,946,800 penalty.
Source: AusPayNet
Data released today by the industry self-regulatory body Australian Payments Network (AusPayNet) shows a 9.2% rise in fraud on payment card transactions in the 12 months to 30 June 2021 (FY21) alongside an increase in online spending during COVID-19 lockdowns.
Fines for anti-money laundering (AML) failings by regulated institutions were five times higher in 2020 than 2019, totalling $2.2 billion.
Crypto exchange Bitmart has become the latest DeFi firm to fall victim to a large-sacle security breach, losing an estimated $100 million and suspending all withdrawals.
Ireland's central bank has fined Bank of ireland €24.5 million over IT deficieincies that the lender took over a decade to fix.
American banking regulators have put together a roadmap that will see them offer clarity over the next year on a host of areas relating to crypto assets.
US regulators have approved a new rule that requires banks to report any "significant" computer security incident within 36 hours of discovering it.
As regulators hone their focus on Decentralised Finance (DeFi), new data from Elliptic reveals that just over $12 billion in losses have been suffered over the past year by DeFi users and investors.
