Payment services are, at their simplest, services for moving money around the economy. These services carry risks for the provider and the customer, from credit and insolvency risk, through to fraud and ‘mere’ errors. Different societies deal with, manage and allocate these risks...

This paper deals with the regulation of Internet banking. In this arena, the law is in a period of rapid development and change.As in similar situations, the legal system has struggled to keep pace with the technology involved. Internet banking is regulated by the Australian financial sector...

While today's financial markets are globally interconnected, they are regulated at a national level. This article discusses the international financial system and its recent difficulties, current international regulatory measures, how a global regulator might be established and some of the...

The European Commission continues to pursue legislation and other measures to encourage a pan-European ‘Single Payment Area' as part of the wider internal market project. This article examines some recent reviews of the existing legislation on payment services, takes a detailed look at...

This second article focuses on the risks associated with payment facilities, the case for their regulation and consideration of possible regulatory models. An understanding of the legal nature of payment facilities is vital to designing an appropriate regulatory regime.The first section of this...