Tag: KYC

Landmark French Ruling Holds Payment Processors Liable for Broker Scams: A Blueprint for EU Victims?

Binary Options Charlene Lensburg -
The French Supreme Court (Cour de Cassation) has just recently firmly established the liability of payment processors like WorldPay and Seroph Holding (AlgoCharge) for facilitating unauthorized binary options schemes. As restitution payouts loom, this critical ruling sets a formidable due diligence standard that could ripple across the EU, offering renewed hope for victims pursuing institutional giants like ING's Payvision.

The Banking Paradox: How Tier-1 European Banks May Be Enabling Illegal Offshore Casinos Through Transaction Laundering Blind Spots

Illegal gambling Guest Contributor -
While European gambling regulators intensify their crackdown on illegal offshore casinos, a more uncomfortable question is emerging for the banking sector: are major retail banks, through rigid chargeback practices and weak scrutiny of miscoded card transactions, helping illegal gambling networks stay operational?

German fintech unicorn N26 caught with anti-money laundering issues

Compliance tamir -
In April 2019, German media outlets reported on a money laundering case around the German Fintech Startup N26. According...

Payment Services Providers And Their Responsibility In Illegal Broker Schemes

Binary Options tamir -
Update April 24, 2019: FinTelegram received information from Jubiter Technologies and their measures taken to avoid money laundering. The...

Crypto Crime: Money Laundering Now And Then

Crypto-Trading tamir -
In January 2017, Deutsche Bank agreed to pay US$ 625 million to US and UK financial authorities to settle...