In typical email fraud cases, victims can rarely trace their funds to ‘first layer’ bank account(s) where they were initially persuaded by fraudsters to transfer their money. Usually, by the time fraud is discovered, the funds are long gone; or transferred onwards to second, third or even fourth-layer recipients, who may well be innocent third
Financial Services
Stored Value Facilities: Licensing and Privacy in Hong Kong
By Gabriela Kennedy on
Payments & FinTech Lawyer has published Gabriela Kennedy’s article on a statement issued by the Hong Kong Privacy Commissioner (PC) setting out advice on the collection of personal data by Stored Value Facilities (SVF) operators, as the first five stored value facility licenses were granted by the Hong Kong Monetary Authority (HKMA) under the Payment…
Cybersecurity and Data Privacy: 2016 Outlook
Cybersecurity and data privacy were high priority issues in 2015 for companies in a broad range of industries. This year is poised to see cybersecurity and data privacy continue to grow in importance for companies doing business in the United States and for US businesses operating globally. In our 2016 Outlook, we highlight five priority…