EU Court Confirms Qualcomm’s Fine
The European second-top court on Wednesday, September 18, basically confirmed the EU antitrust fine against the US chip manufacturer Qualcomm.
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India Accuses Amazon and Flipkart in Violation of Competition Laws
The Competition Commission of India (CCI) has conducted antitrust investigations, concluding that Amazon and Walmart’s Flipkart repeatedly violated local antitrust laws, while Samsung and Xiaomi colluded with them.
Meta Resumes AI Training in UK
After a lengthy pause caused by regulatory hurdles, Meta will begin training its AI models using public content shared by adult UK citizens on Facebook and Instagram.
China Fines PwC for Its Role in Evergrande Collapse
In China, local regulators imposed a six-month business suspension and a record fine of 441 million yuan ($62 million) on PwC’s auditing unit in the mainland of this Asian country.
Apple to Pay 13 Billion Euros in Back Taxes
The European top court on Tuesday, September 10, ruled against Apple.
Swedish Regulator Reportedly Criticizes Klarna’s Anti-Money Laundering Measures
The media reports that in Sweden, the Financial Supervisory Authority (FSA) has conducted an estimate of the risk assessment system currently used by Klarna and after that made critical remarks.
Google Loses EU Court Fight
The top court of Europe on Tuesday, September 10, decided that a fine for 2.4 billion euros ($2.65 billion) against Google remained in force.
US, EU and UK Sign International AI Framework Convention
The joint AI treaty is the next global move towards unifying national goals and values related to artificial intelligence, human rights and democracy.
UK Regulator Reportedly Cuts Fraud Reimbursement Plan
The media reports that currently in the United Kingdom, the local payment regulator is abruptly cutting its compensation plan for victims of fraud.
Brazil Blocks X
In Brazil, a panel of federal supreme court justices voted unanimously to uphold an order suspending the operation of social media platform X, formerly known as Twitter and owned by Elon Musk, in the country.
UK Banks Reportedly Struggle With New Fraud Rules
Currently, in the United Kingdom, according to media reports, hundreds of local financial institutions and fintech companies are making every possible effort to ensure that their activities comply with the new anti-fraud rules in the payment transaction area.
RBI Fines Payment Operators Including Visa
The Reserve Bank of India (RBI) imposed penalties on Visa, Manappuram Finance, and Ola Financial Services for non-compliance.
Apple Signs On to Voluntary US Scheme to Manage AI Risks
Apple has signed the voluntary commitments of the President of the United States Joe Biden, which are aimed at regulating activities in the artificial intelligence industry.
Revolut Reportedly Denies British Customers Reimbursement Requests
The media reports that Revolut refused to reimburse thousands of customers in the United Kingdom after how they were defrauded.
History of Fintech in India
The fintech sector in India has seen significant changes over the past several decades. Starting with the initial phase of banking computerization, which began in the late 1980s and early 1990s, this foundational step set the stage for more advanced innovations in the financial industry.
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