Wise Seeks HMRC Settlement After Tax-Statement Errors Hit 4,000 Customers
Wise says third-party software produced incorrect tax statements for about 4,000 UK investment customers. The company is correcting records and discussing redress with HMRC.
Category: Regulation & Compliance
American Express Bank Fined $350 Million Over AML Control Failures
U.S. regulators found systemic AML failures at American Express National Bank that delayed reporting of about $13 billion in suspected trade-based money laundering activity.
EU Supervisors Put Non-EU Payment Dependencies on the Resilience Agenda
EU supervisors say banks rank payment-solution dependencies among their biggest non-EU risks, sharpening the focus on concentration, contingency and exit planning.
FCA Wins £851,402 Orders After £1.54 Million Crypto Fraud
Two convicted operators of a fake crypto investment scheme face £851,402 in confiscation orders after at least 65 investors lost £1.54 million.
Revolut Face-Payment Pilot Deletes Embeddings but Retains Checkout Images
Revolut’s Pay with Smile pilot deletes single-use facial embeddings after each check, but its privacy notice says transaction photos and related records are retained.
US Seeks Forfeiture of $84.2M From Capstone Payment Accounts
A US civil forfeiture case targets about $84.2 million in bank and USDT assets tied to Capstone, an intermediary used by EQIBank for dollar payment access.
UK-Cambodia Scam-Centre Pact Targets Intelligence and Illicit Flows
A new UK-Cambodia agreement covers intelligence sharing, joint action, digital investigations and illicit-finance tracing, but leaves key delivery measures undisclosed.
Fed Proposes Stablecoin Reserve, Capital and Redemption Rules
The Federal Reserve has proposed a supervisory framework for payment stablecoin issuers covering reserves, capital, redemptions, custody and bank applications.
Citi Turns Card Spending Into Ad Targeting as Opt-Out Controls Face Scrutiny
Citi Commerce Media uses card spending patterns to target ads on Citi and third-party channels. The launch puts notice, opt-out and data-sharing boundaries in focus.
FT Investigation Says A7 Routed $6.9 Billion Through Global Banks
Leaked records reviewed by the Financial Times reportedly show how A7-linked front companies used forged documents to route more than $6.9 billion through global banks.
ECB Launches Pontes but Leaves Tokenised Investment Size and Timing Open
The ECB has launched its initial Pontes settlement service and plans to invest part of its own funds in tokenised securities, but key investment terms remain undecided.
State Gift Card Rules Split Fraud Controls Across Packaging and Cash Redemption
Maryland, California and a pending New York bill put different fraud and redemption duties on gift card issuers, retailers and frontline staff.