Tagged: consumer protection

World Economic Forum Recommends Adopting Clear and Actionable Cybersecurity Guidelines for Fintech Firms

The World Economic Forum (WEF) Fintech Cybersecurity Consortium was established in 2018. It aims to help protect the global financial ecosystem, which now includes large organizations with “high levels of cybersecurity maturity” and fast-growing Fintech firms that are offering emerging technologies such as AI, Big… Read More

Cybercrime and Banking Fraud Alert: State Bank of India, Nation’s Largest Lender, Reminds Customers to Never Share Personal Details with Anyone

The State of Bank of India (SBI) has again cautioned against the increasing number of fraudulent activities targeting unsuspecting bank account holders. The SBI is a multinational, public sector banking and financial services statutory body that’s headquartered in Mumbai, Maharashtra. Last year, it was ranked… Read More

Binance Is “Operating a Recognized Market Without Authorization,” the Malaysian Securities Commission Warns, Public Advised Not to Make Investments with Such Firms

The Securities Commission (SC) of Malaysia, which recently warned residents about facing lengthy prison sentences and fines for operating unlicensed Cryptocurrency ATMs, has specifically mentioned that Binance, the world’s largest digital asset exchange, is not authorized to offer services in the country. The Malaysian SC… Read More

Financial Inclusion: Office of the Comptroller of the Currency Introduces Project to Help Underserved US Businesses and Individuals

The Office of the Comptroller of the Currency (OCC), an independent bureau within the US Department of the Treasury that serves to charter, regulate, and supervise all national banks  (among other responsibilities), has introduced an initiative that aims to promote greater financial inclusion of unserved… Read More

Scam Alert: Fintech Zopa Warns that Many Fraudsters are Using Emails and Texts to Find and Target Unsuspecting Consumers

Fintech Zopa, which offers online lending services in a fund based fashion, has warned that scammers have been taking advantage of the current situation. According to a report from Action Fraud, victim losses due to the fraudulent activity related to the Coronavirus (COVID-19) in March… Read More

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