Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

Indonesian anti-trust agency investigates unfair Google app payments

Indonesian watchdog KPPU is investigating Google for breaching anti-monopoly laws and carrying out unlawful business practices on the Google Play Store.

16 September 2022

News/payments

Citi wins appeal over $500m funds transfer gaffe

A federal appeals court has overturned a decision to let creditors keep more than half a billion dollars that banking giant Citi sent to them by mistake.

12 September 2022

News/security

Starling responds to UK Govt's report on suspected BBLS fraud

UK Government has confirmed that of the £47 billion provided in loans through the Bounce Back Loan (BBL) scheme, £1.1 billion of these loans are suspected to be fraudulent.

07 September 2022

News/people

Hong Kong to introduce subsidies to attract fintechs

The Hong Kong government is set to bring in a number of financial incentives to address what has been termed as a skills shortage, especially in terms of the fintech sector.

05 September 2022

News/crime

UK orders crypto exchanges to report sanctions breaches

Crypto exchanges operating in the UK will face more reporting requirements over sanctions breaches under new rules introduced in the wake of Russia's war in Ukraine.

05 September 2022

News/payments

Walmart asks court to dismiss FTC money transfer lawsuit

Walmart has asked a federal court to dismiss a Federal Trade Commission lawsuit against the retail giant, calling it an "egregious instance of agency overreach".

31 August 2022

News/security

Block faces lawsuit over Cash App breach

Block is facing a Class Action lawsuit over a Cash App Investing data breach last year that impacted 8.2 million customers.

26 August 2022

News/crypto

Class Action lawsuit claims Coinbase failed to protect customers from fraud

The world's largest crypto exchange, Coinbase, is facing a Federal Class Action lawsuit over allegations that it failed to secure user accounts from hackers and thieves.

24 August 2022

News/crypto

Crypto-crime revenue drops by 65% - report

Revenue derived from cryptocurrency-related crime is down by 65% in the first half of 2022 compared to the corresponding period in 2021.

22 August 2022

News/regulation

FCA fines Citi £12.5m for trading oversight failings

The UK's Financial Conduct Authority (FCA) has levied a £12.5m fine against Citigroup Global Markets over past failures to police its trading activity

22 August 2022

News/regulation

Banks to pay $1bn over traders' use of WhatsApp

A handful of Wall Street banks are preparing to pay up to $200m each to settle a case with the Securities and Exchanges Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over the use of WhatsApp messages.

22 August 2022

News/regulation

UN urges curbs on crypto uptake in developing countries

The United Nation’s Conference on Trade and Development, UNCTAD, has released three policy briefs on the dangers of cryptocurrency in light of the rising use of digital assets in developing countries.

12 August 2022

Company update/markets

Jury convicts two former JPMorgan traders of widespread market manipulation

A federal jury in the Northern District of Illinois convicted two former precious metals traders at JPMorgan Chase & Co. (JPMorgan) today of fraud, attempted price manipulation, and spoofing in a multi-year market manipulation scheme of precious metals futures contracts that spanned over eight years and involved thousands of unlawful trading sequences.

11 August 2022

News/payments

Mastercard and Visa stop processing payments for Pornhub advertising arm

Visa and Mastercard will stop processing payments for the advertising arm of Pornhub's parent company after developments in a lawsuit relating to child pornography.

05 August 2022

News/markets

UK legal taskforce probes rules underpinning securities issuance on blockchain

Legal experts in the UK have opened a public consultation on the legislative changes required to support the issuance and transfer of digital securities on blockchain and DLT systems.

03 August 2022

News/crypto

Standard Chartered-backed Zodia Market secures FCA registration

The Financial Conduct Authority (FCA) has approved crypto brokerage Zodia Market’s registration application on the UK Financial Services Register, allowing the Standard Chartered-backed business to officially launch.

28 July 2022

News/crypto

Ex-Coinbase product manager charged in crypto insider trading scheme

A former Coinbase product manager is one of three people to be charged in the first ever cryptocurrency insider trading tipping scheme.

21 July 2022

News/regulation

UK to regulate stablecoins as part of Finance bill

Fintechs and crypto asset providers have welcomed the UK government’s decision to bring stablecoins into regulatory scope as part of the recently published Financial Services and Markets Bill.

21 July 2022

News/regulation

UK proposes new AI rulebook

The UK government has published its plans to regulate the use of artificial intelligence (AI) which would see it depart from the EU's strategy to establish a centralised body to oversee the use of technology.

20 July 2022

News/payments

Apple faces US antitrust suit over Apple Pay

Apple is facing an antitrust class-action lawsuit in the US accusing it of illegally profiting from card issuers through policies that prevent competition to its Apple Pay wallet.

19 July 2022