Open Banking: To regulate or not to regulate? That is the question.

Following extensive growth in recent years of online banking services and online payments, consumers face a new variety of challenges, such as how to optimise management offunds, incomes and expenses, mortgages and other banking and payments services provided on-line by different online providers.

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Chargeback disputes: the latest attempt by fraudsters to beat the system – and how to make sure they don’t!

We think of chargebacks as being a modern inconvenience and a feature of commercial dealings. Yet, documents dating as far back as 1800 BCE show that the concept was already in existence in ancient times. To avoid being accused of theft – an offence punishable by death back then – sellers and buyers demanded and carefully preserved receipts and title deeds. If it was proven that the goods (even those purchased in a legitimate sale) were stolen, the buyer had an obligation to return them to the original owner, but also had a right to charge back the seller.

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The EU’s Fourth Money Laundering Directive


The sequel to the Third Money Laundering Directive (3MLD), in force since 2005, will finally be released, over a decade later — but ahead of schedule. The deadline for transposition of the Fourth Money Laundering Directive (4MLD) by Member States has been moved from June 26, 2017 to January 1, 2017. Subject persons, now known as “obliged entities,” will need to prepare themselves for this early transposition date by ensuring that their internal policies have taken the latest additions brought forward by this new directive into account.

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Is Electronic Signature Safe and Legally Binding?


In a world where technology is developing faster than legislators can handle, are we getting carried away with accepting new technology products before stopping to consider their legal effects? While security and consumer protection are indeed highly-debated issues in e-commerce, does anyone really have time to print out an agreement or a form, sign, scan, and return to sender?

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What You Need to Know About the New EU-U.S. Privacy Shield


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On February 2, 2016, the much-anticipated agreement between the EU Commission and the U.S. outlining the framework for the transfer of personal data was finalized. Following the invalidation of the Safe Harbour rules by the European Court of Justice (ECJ) on October 6, 2015, the Commission issued a new guidance on November 6, 2015. Continue Reading

European Parliament Votes to End Geo-Blocking

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As part of its Digital Single Market Strategy, the European Parliament voted on January 19th to combat the practice of geo-blocking in order to boost e-commerce within the EU Internal Market.Continue Reading

Are You Ready for Strong Customer Authentication?

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Now that the revised Payment Services Directive (PSD2) has been finalized, issues of transposition will come to the fore. This is because the PSD2 is expected to enter into force in January 2016 and to apply from January 2018.Continue Reading

Insights From MasterCard’s MCDS Conference


The MasterCard MCDS conference took place November 4-6. The conference covered quite a few payments topics and trends. It was a great opportunity to meet with colleagues and get an up-to-date picture of where we are headed as an industry.Continue Reading

Credorax Celebrates Pan-European Banking License Launch

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Previously a licensed financial institution, Credorax has now officially evolved into a commercial bank in Europe. Having recently received our commercial banking license from the Malta Financial Services Authority (MFSA), we have become one of the first fintech companies in the world to grow into a pan-European bank.Continue Reading

The Digital Single Market Strategy: Innovation Meets Regulation

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In the payment services and e-commerce arena, EU regulators are striving to keep up with the rapid pace at which technology is advancing in order to properly regulate the various technologies currently in use and to ensure that consumers are protected.

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