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Latest PCI Standard Pushes Toward Risk Management
Image: Version 3.0 of the PCI Data Security Standard goes into effect this month—and maybe, just possibly, it will strengthen companies’ discipline against credit card data theft. The new standard prods companies to approach security as a continuous risk monitoring duty. “You can’t have smooth implementation until you start to ...
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News BriefFCA fines Monzo digital bank $28 million for AML, KYC failures
Britain’s Financial Conduct Authority has fined the online bank Monzo the equivalent of more than $28 million for failing to properly collect customer information and protect against financial crimes. The move is the latest in a series of efforts by British authorities to combat chronic money laundering and other crimes ...
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PremiumDiscover, in allowing misclassification problem to fester, pushed compliance aside
Federal banking regulators have laid the blame for Discover Financial Services charging merchants $1 billion in excessive credit card fees over 17 years squarely at the feet of company executives.