Evolve Bank Reports Data Breach as Ransomware Gang Steals Personal Data of Millions
Evolve Bank has reported a significant data breach where a ransomware gang stole personal information from millions of customers. The bank is working with experts and law enforcement to address the breach and is offering credit monitoring ... Read More
Russian Firms Face Payment Challenges Amid Heightened Sanctions
Russian companies are increasingly struggling with payment transactions due to intensified international sanctions. These restrictions, targeting financial and trade sectors, have led to significant disruptions in cross-border payments, ... Read More
Nigerian Banks Face 70% Tax on Foreign Exchange Windfalls
Nigerian banks are now required to pay a 70% tax on unexpected gains from foreign exchange transactions. This policy aims to stabilize the local currency and mitigate market volatility amid a turbulent economic ... Read More
Surge in Retail Participation in Stock Market Triggers Government and SEBI Warnings
The Indian government and the Securities and Exchange Board of India (SEBI) are issuing increasing warnings as retail participation in the stock market reaches unprecedented levels. Concerns over potential market volatility and the ... Read More
Revolut Secures UK Banking Licence with Restrictions, Enters Mobilisation Stage
Revolut has secured a UK banking licence with restrictions and has entered the mobilisation stage. The licence allows Revolut to accept customer deposits and provide lending services, but it must first complete certain operational tests. ... Read More
Stricter Regulations Lead to Increased Penalties for UK Financial Firms
UK financial firms are facing rising penalties as regulatory bodies tighten their oversight and enforcement. The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) are imposing stricter measures to ensure ... Read More
Sokin Secures Investment from Morgan Stanley to Accelerate Global Expansion
UK fintech Sokin has secured a major investment from Morgan Stanley to enhance its global payments platform. The funding will support technological advancements, market expansion, and improved service offerings, positioning Sokin for ... Read More
Crypto Money Laundering Techniques Pose New Challenges for Authorities
Crypto money laundering has become increasingly sophisticated, challenging authorities worldwide. New techniques, such as mixing services and privacy coins, are making it harder to track illicit activities. As regulatory bodies struggle to ... Read More
US Banks Ordered to Reveal Russian Assets Amid New Regulatory Push
In a bid to increase financial transparency and counteract potential sanctions evasion, US regulators mandate banks to disclose Russian assets. The new requirement aims to strengthen oversight and compliance in the wake of heightened ... Read More
Lloyds Banking Group Sees 14% Profit Decline Amid Intensified Competition
Lloyds Banking Group’s first-half profit fell by 14% due to increased competition from fintech and other financial players. The bank reported a profit of £2.3 billion and is focusing on digital transformation and operational efficiency ... Read More