Tag: FCA

UK Puts the Cloud Black Boxes Under Watch: AWS, Google, Microsoft and Oracle Enter Direct Financial Oversight

Compliance Ben -
The UK has activated its Critical Third Party regime for AWS, Google Cloud, Microsoft and Oracle. The framework strengthens direct oversight of the technology infrastructure behind banks, Open Banking platforms and payment systems—and supports FinTelegram’s end-to-end approach to casino payment investigations.

Compliance Radar: Latvijas Banka Licenses Fibonatix — A Fresh EU Licence For A High-Risk Payment Legacy?

Compliance Charlene Lensburg -
Latvijas Banka has issued a payment institution licence to SIA Fibonatix (LV). For FinTelegram, this is not merely a fintech licensing story but a compliance watch event given Fibonatix’s long-documented high-risk payment legacy.

Rail Atlas Case: The Kingdom Bank – Offshore Banking, EU Payment Rails, KYC Outsourcing and the iGaming Risk Profile

Compliance Reg Techer -
FinTelegram’s Rail Atlas reviews The Kingdom Bank’s offshore banking and payment infrastructure. Our operational review found EU-facing onboarding from Austria and Italy, KYC via Plato/GoodFintech, instant-transfer routing via Banky, and ordinary bank-transfer instructions through Speedy AG in Poland with The Kingdom Bank Corporation as account owner. The wider Zubari-linked network, including Financial House under FCA restrictions, raises significant compliance questions.

FCA Probes PayPal, Mastercard and Visa: Are Digital Wallet Funding Rules the Next Payment-Rail Chokepoint?

Compliance Charlene Lensburg -
The UK Financial Conduct Authority (FCA) has opened Competition Act 1998 investigations into PayPal, Mastercard and Visa over suspected anti-competitive conduct linked to the funding and usage of PayPal’s digital wallet. This is not an AML case, not a consumer-fraud case, and not yet a finding of wrongdoing. It is something potentially more structural.

Austrian Regulator FMA confirms ePayments Systems suspension for Austria

Compliance tamir -
On 6 March 2020, the Austrian Financial Market Authority (FMA) confirmed the suspension of the activities of ePayments Systems...

Chair of the UK FCA – Financial Crime against individuals has reached epidemic proportions

Cybercrime tamir -
Financial crime against individuals has reached epidemic proportions. One of the most damaging financial crimes is investment fraud, where...

Update on Gal Barak and other CyberScammers – it’s time to fight them

Court Cases tamir -
In the last few days, FinTelegram has reported on its fight against the Israeli #cyberscammer Gal Barak. He has...

UK Financial Watchdog – Dysfunctional cryptocurrencies fall outside scope of regulation but security tokens don’t

Compliance Mark Lagarde -
The FCA has been looking into cryptoassets over the last couple of month and issued the Guidance on Cryptoassets,...

Investment Scams are still on the rise! Australian Scamwatch reported $5 losses for June 2019

Cybercrime tamir -
The sharp increase in investment scams has prompted financial market supervisory and consumer protection authorities such as the UK...

UK Financial Watchdog FCA issues Enforcement Performance Report indicating expanding cybercrime activities

Compliance Charlene Lensburg -
On Monday, the UK financial watchdog issued its Enforcement Performance Report. In 2018/19, the Financial Conduct Authority (FCA) issued...

Good news: FCA considers a ban of crypto-CFDs for retail investors

Compliance Mark Lagarde -
In a recently published document, titled “Restricting contract for difference products sold to retail clients,” the FCA revealed that...

UK FCA refuses to compensate scam victim despite register mistake

Compliance tamir -
A fake Austrian investment firm The UK Financial Conduct Authority (FCA) has refused to reimburse a scam victim despite a...