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UK regulators
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- 1
The Internet Watch Foundation, the UK-based body that tracks online child sexual abuse content, has reported a sharp increase in child sexual abuse material generated by artificial intelligence. The finding points to offenders using image-generation tools to produce illegal content at scale, and is likely to intensify calls for tighter regulation of AI systems and stronger enforcement against online abuse.
- 2Dutch central bank fines Modulr Finance over weak customer monitoring●BREAKING: Dutch central bank fines Modulr Finance over weak customer monitoring
The Dutch central bank, De Nederlandsche Bank, has imposed a fine on UK payments firm Modulr Finance for deficiencies in its customer monitoring processes. The action relates to weak anti-money-laundering controls, specifically failures in monitoring customers adequately. The fine highlights continuing regulatory scrutiny of payments and fintech firms operating in Europe over compliance with financial-crime rules.