News & Analysis as of

Financial Crimes Payment Systems

Stinson LLP

Federal Government Initiatives Combat Fraud and Promote Digitalization of Payments

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Continuing the war on fraud and the attendant financial losses for U.S. businesses, consumers and government alike, the U.S. Department of the Treasury and federal banking agencies have launched a wide-ranging initiative...more

Ballard Spahr LLP

Federal banking agencies seek information on actions to address payments fraud

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On June 20, 2025, the Office of the Comptroller of the Currency (OCC), Treasury, the Board of Governors of the Federal Reserve System (FRB), and the Federal Deposit Insurance Corporation (FDIC) announced they are seeking...more

Troutman Pepper Locke

Federal Banking Agencies Issue RFI on Payments and Check Fraud Mitigation Strategies

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On June 16, the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board, and the Office of the Comptroller of the Currency (OCC) issued a joint request for public comment on potential ways to address payments...more

Orrick, Herrington & Sutcliffe LLP

Prudential regulators issue RFI on payments fraud

On June 13, the OCC, the Fed, and the FDIC jointly issued an RFI seeking public input on ways to address rising payments fraud, with a particular emphasis on check fraud. The request for information seeks stakeholder feedback...more

Troutman Pepper Locke

Navigating Elder Fraud: Challenges and Legal Trends in Payment Systems — Payments Pros – The Payments Law Podcast

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In this episode of Payments Pros, Carlin McCrory is joined by Mary Zinsner, a partner in the Consumer Financial Services Practice Group, to explore the increasing litigation trends in the payments industry, with a focus on...more

McDermott Will & Emery

Anzeigen digital – BaFin ermöglicht zukünftig digitale Anzeigen zu Geldwäschebeauftragten

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Die Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) öffnet ihr Portal der Melde- und Veröffentlichungsplattform (MVP-Portal) zukünftig auch für geldwäscherechtliche Anzeigen. Konkret betrifft dies alle im Voraus...more

Blake, Cassels & Graydon LLP

Aperçu de l’évolution de la réglementation dans le secteur canadien des paiements en 2025

Les modifications réglementaires apportées à l’écosystème canadien des paiements redéfinissent le risque opérationnel, les obligations en matière de conformité et les modalités commerciales dans l’ensemble du secteur....more

Sheppard Mullin Richter & Hampton LLP

Fourth Circuit Rejects Rehearing in ACH Fraud Suit Alleging Violations of KYC Rules and NACHA Operating Standards

On April 22, the Fourth Circuit declined to reconsider a panel ruling that found a credit union could not be held liable for a scam in which fraudsters diverted over $560,000 from a metal fabricator through unauthorized ACH...more

Clark Hill PLC

Clark Hill 2025 Commercial Real Estate Outlook: The Number One Cybersecurity Threat Facing the Real Estate Sector

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When we talk to clients about cybersecurity, it tends to conjure up images of ransomware, systems that are encrypted and inaccessible, and stolen data. For the real estate sector, ransomware isn’t the largest cybersecurity...more

Hogan Lovells

UK: “Duty of retrieval” rejected: why banks do not owe a duty to recover funds lost through APP fraud

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Banking fraud of all types is an ever increasing problem in today’s society, and takes a multitude of forms. On a basic level, frauds can be divided into two types. Unauthorised fraud, where the victim does not provide...more

American Conference Institute (ACI)

[Event] 9th Annual Legal, Regulatory and Compliance Forum on FinTech & Emerging Payment Systems - May 12th - 14th, New York, NY

Meet key stakeholders in Banking, FinTech, and broader payment systems next month at ACI’s 9th Annual Legal, Regulatory and Compliance Forum on FinTech & Emerging Payment Systems. Gain valuable insights from these industry...more

A&O Shearman

Financial Crime: The FCA’s Strategy for 2025 – 2030

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In its strategy for the next five years, financial crime remains a priority for the UK Financial Conduct Authority (FCA). While the FCA acknowledges the significant efforts firms invest in their anti-financial crime systems,...more

A&O Shearman

FSB letter to G20 finance ministers and central bank governors ahead of meeting

A&O Shearman on

The Financial Action Task Force (FATF) has published a second consultation on payment transparency, and in particular proposed revisions to recommendation 16 (R.16). The revisions adapt the FATF Standards to the changes in...more

Blake, Cassels & Graydon LLP

Survol des développements dans le domaine de la réglementation des services financiers en 2024

La tendance au changement se poursuit dans le domaine de la réglementation des services financiers. En ce début de février 2025, nous vous proposons ci-après un survol des développements notables qui ont eu lieu dans ce...more

A&O Shearman

The U.K.'s Authorised Push Payment APP Fraud Reimbursement Scheme

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The UK’s Authorised Push Payment (APP) Fraud Reimbursement Scheme came into force on October 7, 2024. It requires in-scope payment service providers (PSPs) sending payments through either the Faster Payment System (FPS) or...more

Guidepost Solutions LLC

Money Laundering, Terrorist Financing, and Investment Advisors – Yes, Financial Crime is Borderless and Legal Entity-Agnostic

There is a growing acknowledgement that money laundering and terrorist financing is borderless and legal entity-agnostic, just as it is already known that cybercriminals and the means to commit cybercrimes continuously attack...more

Skadden, Arps, Slate, Meagher & Flom LLP

New Rules To Tackle Authorised Push Payment Fraud

Authorised push payment (APP) fraud in the UK is the largest type of payment fraud, both in number of scams and value of losses. It involves a fraudster convincing someone to send a payment to a bank account that the...more

A&O Shearman

Key Regulatory Topics: Weekly Update 23-29 Feb 2024

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Amongst the broad range of updates this week, at international level, the FSB published its thematic peer review on MMF Reforms and the BCBS published the outcomes of its meeting held on 28 and 29 February, including that it...more

A&O Shearman

Key Regulatory Topics Weekly Update 16 February to 22 February 2024

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Of particular note this week in the EU, the Council adopted the legislative package to strengthen market data transparency which includes changes to the EU’s trading rules on market data, payment for order flow and commodity...more

BCLP

Play Safe - How scam-proof are you in the new world of mandatory reimbursement for APP fraud?

BCLP on

Imagine this – a customer submits a payment instruction directing that all their life savings are transferred to a third-party account for the purposes of an investment. What do you do? While the scenario may appear...more

American Conference Institute (ACI)

[Event] 29th Annual Flagship Conference on Regulatory Compliance for Financial Institutions - November 21st - 22nd, Toronto, ON,...

Don’t miss the opportunity to gain valuable insights from industry experts at Canadian Institute’s Annual Flagship Conference on Regulatory Compliance for Financial Institutions. This event will equip you with strategies to...more

Wilson Sonsini Goodrich & Rosati

Focus on Fintech - Q3 2022

Welcome to Wilson Sonsini’s Focus on Fintech newsletter. This quarterly newsletter provides ongoing analysis and commentary on regulatory developments impacting the fintech industry. The third quarter of 2022 has been a...more

Latham & Watkins LLP

UAE Central Bank Issues Guidance on Anti-Money Laundering Risks in the Payment Sector

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The guidance is part of the rapidly evolving rules on anti-money laundering and aims to promote UAE as a jurisdiction compliant with best practices. On August 1, 2022, the UAE Central Bank (CBUAE) issued the Guidance for...more

A&O Shearman

Key Regulatory Topics: weekly Update 15 October to 21 October 2021

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Of particular note this week, HM Treasury published a policy paper on ‘Greening Finance: A Roadmap to Sustainable Investing’ which sets out the UK government’s ambition to support the financial services sector to align with...more

The Volkov Law Group

FinCEN Issues Human Trafficking Advisory (Part II of II)

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Human traffickers, like all criminals, rely on the international financial system to facilitate their crimes and to disguise proceeds from their illegal activities.  Traffickers open bank accounts to deposit and launder...more

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