Payments

The payments landscape for community banks is changing rapidly as traditional payments converge with new instant payment systems and emerging cryptocurrencies. It is critical for Community Banks to maintain awareness of developments in the payments space to assess new opportunities, mitigate risks, and ensure that their payment strategy aligns with overall business plans.

Payments News

‘Pig butchering’ scams have nabbed $75B: study

Mar 1, 2024 | NewsWatch Today
A new academic paper found “pig butchering” scams—in which victims invest increasing sums in supposedly legitimate virtual currency enterprises before being conned out of their money—claimed $75 billion since January 2020.

Global group warns of crypto intermediary, stablecoin risks

Mar 1, 2024 | NewsWatch Today
The head of the Financial Stability Board warned of the risks posed by multifunction crypto intermediaries and stablecoins.

Global AML watchdog warns of lagging crypto standards

Feb 26, 2024 | NewsWatch Today
The Financial Action Task Force—a global anti-money-laundering watchdog—said many countries have not implemented its recommended standards on virtual assets, allowing criminals to exploit gaps in crypto regulation.