Payments with credit cards, bank transfers, or PayPal have the advantage that both the buyer and the seller have identified themselves to the involved payment…
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German payment veteran Ruediger Trautmann was a member of the Management Board of listed Wirecard until 31st January 2010 and, as Chief Sales Officer, was…
The regulatory week ending May 22, 2020 saw a few interesting developments. While US and UK regulators have been quite busy with investor warnings and…
The US Commodity Futures Trading Commission (CFTC) published a legal notice in The Times of Israel on May 21 in an attempt to inform three…
First Data Merchant Services LLC (First Data), part of one of the US financial services technology provider Fiserv Inc., and one of its executives agreed…
It is almost boring to repeat the same statement over and over again - financial service providers have a very special responsibility for the well-being of society, the economy, and consumers. This responsibility is the reason why we do have financial market supervisory regimes and why financial service providers need licenses and permits. Efficient KYC/AML/CTF procedures are a conditio sine qua non for the dawning cybersociety. In view of the booming cybercrime, we must work much more radically on a global compliance regime.
Many good stories start with “once upon a time”. Our story about Notesco, a broker regulated by several regulatory regimes, and Wirecard client is no exception. The story took place in Bratislava in spring 2018. At that time some people met at the Grand Hotel River Park to discuss a delicate transaction that involved this globally acing broker.
The Financial Times reported that a $30m lawsuit against PwC for alleged negligence in its audits of a Guernsey-based $150m Ponzi scheme will go ahead…
The US Commodity Futures Trading Commission (CFTC) filed an enforcement action in the U.S. District Court for the Southern District of New York, charging the…
The US Securities and Exchange Commission (SEC) charged New York-based credit rating agency Morningstar Credit Ratings LLC for violating a conflict of interest rule designed…