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Wirecard charge sheet will take five hours to read out as CEO Braun gets his day in court

/payments

Wirecard charge sheet will take five hours to read out as CEO Braun gets his day in court

The charge sheet against former Wirecard boss Marcus Braun and two other executives runs to 474 pages and will take five hours to read out, in a Munich court case that opens today and is expected to last for a more than a year.

AmEx faces Australian lawsuit over card distribution laws

/regulation

AmEx faces Australian lawsuit over card distribution laws

Australia's securities regulator is taking American Express to court, accusing the firm of issuing credit cards without making sure that customers understood them.

Court dismisses Mastercard appeal against £14 billion class action lawsuit

/payments

Court dismisses Mastercard appeal against £14 billion class action lawsuit

A £14 billion class action lawsuit against Mastercard interchange fees has moved a step closer to trial following a failed last ditch attempt by the card scheme to derail the claim.

Estonian men arrested over $575m crypto fraud

/crypto

Estonian men arrested over $575m crypto fraud

Police have arrested two men in Estonia in connection with a $575 million cryptocurrency fraud and money laundering scheme.

New FTX CEO slams 'complete failure of corporate controls'

/crypto

New FTX CEO slams 'complete failure of corporate controls'

John Ray, the man who took over at Enron after its collapse and is now in charge of FTX has blasted his predecessor at the failed crypto exchange, Sam Bankman-Fried, declaring in court filings that he has never "seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information".

/regulation

ADGM takes mediation to the metaverse

The ADGM Arbitration Centre, the state-of-the-art hearing facility for arbitration and mediation situated in the international financial centre of the UAE’s capital, has launched a world’s-first service that hosts mediation in the metaverse.

London crook jailed for card fraud

/retail

London crook jailed for card fraud

A London man has been sentenced to two and a half years in prison for a £280,000 fraud scam.

US authorities seize 50,000 bitcoin related to Silk Road

/crypto

US authorities seize 50,000 bitcoin related to Silk Road

US authorities say they have seized more than 50,000 bitcoins - now valued at around $1 billion - related to the Silk Road dark web marketplace.

Visa files metaverse and NFT trademark applications

/crypto

Visa files metaverse and NFT trademark applications

Visa has filed two trademark applications related to the metaverse, non-fungible tokens and digital currency wallets.

EBA publishes fraud taxonomy

/crime

EBA publishes fraud taxonomy

The Euro Banking Association (EBA) has made its payment fraud taxonomy available to the public in a bid to curb the rising threats to the European payments system.

/crime

CBA launches financial crime academy

A new academy focused on tackling financial crime will be formed under a partnership agreement between Griffith University and the Commonwealth Bank of Australia (CBA).

Bunq wins AML case against Dutch Central Bank

/regulation

Bunq wins AML case against Dutch Central Bank

Dutch challenger bank Bunq has hailed a "landmark" verdict in the Dutch courts over the use of artificial intelligence (AI) for anti-money laundering processes.

/payments

Shieldpay and Case Pilots join forces to provide digital class action compensation payments

Shieldpay, the market leading fintech solving complex B2B payments, has today announced its partnership with Case Pilots, an acclaimed provider of claims administration services, to integrate Shieldpay’s digital mass disbursements payment service into Case Pilots’ legaltech solution.

/Legal

'FinAccelerate Empowered by Jones Day' announces selected cohort companies for 2022

The global law firm Jones Day today announced the admission of 21 cohort companies that will participate in its FinAccelerate Empowered by Jones Day accelerator program taking place October 25-27.

Mastercard and Visa face UK corporate card interchange class action suit

/payments

Mastercard and Visa face UK corporate card interchange class action suit

Visa and Mastercard are facing a class action lawsuit in the UK seeking compensation for businesses charged Multilateral Interchange Fees (MIFs) for accepting payments using corporate credit cards.

SaaS: The case for building a new banking business model

/Legal

SaaS: The case for building a new banking business model

519 downloads

Morgan Stanley, Goldman Sachs, among banks fined $1.1 billion by SEC

/regulation

Morgan Stanley, Goldman Sachs, among banks fined $1.1 billion by SEC

16 of Wall Street’s largest financial institutions been charged to pay a combined $1.1 billion to US regulators for not monitoring unauthorised employee messaging, announced the Securities and Exchange Commission (SEC) on Tuesday.

FTX wins $1.4bn auction for Voyager Digital assets

/crypto

FTX wins $1.4bn auction for Voyager Digital assets

FTX has won the auction for the assets of bankrupt crypto lender Voyager Digital with a bid worth just over 1.42 billion.

/retail

Leeds Building Society launches Redemption Statement Service via the LMS Secure Link portal

LMS, the UK’s leading conveyancer and panel management specialist, today announces that Leeds Building Society, the UK’s fifth largest building society, is launching with LMS Secure Link.

UK government launches fraud and money laundering crackdown

/regulation

UK government launches fraud and money laundering crackdown

The UK government has announced plans to rolled out reforms to protect the economy from fraud and money laundering.

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