Customer Identification News Today

On May 13, 2024, the Securities and Exchange Commission (SEC) and the Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department announced...

On May 13, the Securities and Exchange Commission (SEC) and the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) released a joint notice of a proposed...

The SEC and FinCEN concurrently issued a fact sheet that summarizes the Joint NPRM.

A proposal in the U.S. could see cloud service companies offering CDNs, virtual services, and proxies, to positively identify every customer.

On March 28, 2024, the US Department of the Treasury's Financial Crimes Enforcement Network ("FinCEN"), in consultation with the staffs of the federal banking agencies...

Below is this week's tracker of the latest legal and regulatory developments in the United States and in the EU. Sign up here to ensure you do not miss an update.

The U.S. Department of Commerce's Bureau of Industry and Security (BIS) this week issued a notice of proposed rulemaking soliciting comments on proposed...

RBIs regulatory intervention on customer identification by payments banks is seen as harsh for startups. Digital wallet providers argue that their business model does not support enhanced KYC compliance due to high costs and infrastructure challenges. Regulatory sympathy and roadmaps have been released to improve compliance.

Licensing is about to commence, and this will help get SA off the Financial Action Task Force grey list.

Keith Sabilika, a fintech specialist at the FSCA, gave some insights into the business models of crypto companies applying for licences.