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: Risk, Fraud & Controversies
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.
UK AI Scam Watchlist Tests Payment Controls Beyond Customer Education
National Trading Standards says AI is making familiar scams more convincing and scalable, increasing pressure on payment firms to verify context rather than trust polished websites, voices or video.
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.
Apple Pay Fee Case Expands to Class of U.S. Card Issuers
A federal judge certified a class of U.S. card issuers that paid Apple Pay transaction fees, allowing shared antitrust claims to proceed without deciding liability.
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.
Banks Warn Agentic Commerce Governance Is Lagging Live Pilots
Six banks say agentic commerce has reached live pilots while liability, authorization, dispute and data controls remain incomplete. Their principles are voluntary and non-binding.
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.
Amazon Blocks Meta’s Muse as Agentic Commerce Exposes a Merchant-Control Gap
Amazon has blocked Meta’s Muse AI agent from shopping on its site, turning agent identification, credential custody and merchant consent into immediate payment-control issues.
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.