The main piece of legislation governing payment services in the UK is the Payment Services Regulations 2017 (PSRs 2017). PSRs 2017 broadened the extent of payment services regulations in the UK and brought third-party payment service providers (TPPs) within the scope of regulation for the first ...
Payment screening regulations Payment screening is necessary because FIs worldwide are subject to manyregulations and recommendationsto tackle criminal activity like money laundering, terrorist financing, and fraud. These regulations vary between jurisdictions, but they invariably require that firms demonstrate ...
5. Saudi Arabia: SCB implements new financial regulations On 7 July 2023, Saudi Central Bank issuedImplementing Regulationsfor the Law of Payments and Payment Services. The regulations support the objective of improving the efficiency of the payment systems infrastructure in the Kingdom. ...