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Banco Santander to Acquire Wirecards’s Technology Assets

Following a series of accounting fraud scandals that resulted in the insolvency of German processor and payments provider Wirecard AG, Banco Santander will be acquiring their payment technology assets for €100 million. The acquisition only includes the assets related to merchant services and payment processing with the approximately 500 employees who manage the assets, who

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The Fed and FinCEN Propose to Lower Reporting Threshold on International Transfers to $250

The Financial Crimes Enforcement Network (FinCEN), along with the Board of Governors of the Federal Reserve, recently proposed new rules related to the Bank Secrecy Act (BSA) and anti-money laundering regulations requiring financial institutions to collect and report information related to international transfers. The proposed changes would lower the threshold requiring when this information is

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Nacha Approves Amendments to Operating Rules Focused on Supporting More Technologies and Handling Unauthorized Payments

Nacha, who enables Automated Clearing House (ACH) payments, has approved eight amendments to their Operating Rules focused on infrastructure around improving Same Day ACH and providing a framework for authorizing consumer ACH payments that can be applied to the growing channels and technologies consumers want to use to make digital payments. Additional new rules pertain

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Refinitiv Acquires GIACT to Build Holistic Fraud, Identity, AML and Cybercrime Solution

Bank account authentication, funds confirmation and KYC provider GIACT will be acquired by Refinitiv, a financial technology and data vendor owned by London Stock Exchange Group. GIACT’s data and technology will complement Refinitiv’s due diligence, risk and compliance services while broadening the company’s digital fraud prevention and identity services. The acquisition of GIACT both strengthens

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