MONEYVAL, Europe’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) watchdog, has prioritized monitoring the crypto industry, as well as “gatekeeper” professionals like attorneys and ac...
Tag: AML
Congresspeople grill US AML watchdog over approach to crypto self-custody
Self-hosted crypto wallets remain solidly on the radar of US anti-money-laundering regulators. On April 28, Himamauli Das, acting director of the Treasury’s Financial Crimes Enforcement Network, appe...
Europe’s Lawmakers Set to Advance Discussion of Controversial Crypto AML Rules
Lawmakers could be swayed by the risk of a legal challenge, Schrepel believes – but in practice it may be difficult to get them to retreat from a position they share with the Council. In other areas t...
FinCEN Needs More Oversight But Congress Needs To Fix The Bank Secrecy Act
Natalie Edwards leaves Federal court Wednesday, Jan. 30, 2019, in New York. Edwards, a senior … [+] official at the department’s Financial Crimes Enforcement Network, also known as FinCEN,...
Axie Infinity Hack Still Shows How Limited Law Enforcement is With AML Tools
While Binance announced it had recovered $5.8 million in stolen funds from the Lazarus Group on Friday, law enforcement still has a long way to go in its AML efforts of equipping itself with the neces...
OCC demands Anchorage Digital clean up AML program
The US’s national bank regulator is not happy with Anchorage Digital’s know-your-customer (KYC) program. On April 21, the Office of the Comptroller of the Currency (OCC) released a consent...
US Regulator Slams Crypto Bank Anchorage for AML Lapses
The US Office of the Comptroller of the Currency (OCC) has found some lapses with the know-your-customer (KYC Know Your Customer (KYC) Know Your Customer (KYC) is the process via which the broker is...
Digital euro will be subject to fewer AML laws than other cryptocurrencies
The digital euro for the European Union will have anti-money laundering provisions that are used for private cryptocurrencies. However, an EU Commissioner has said that the AML laws adopted for the di...
The European Parliament is rushing a vote on a new AML law. Here’s what they’ll be voting on
The European Parliament will hold key votes on the new Transfer of Funds Regulation on March 31. The final draft of the bill was completed late on March 28, only going out to the Members of European P...
EU Set to Vote On Critical Crypto AML Provision – Coinbase Cites Outright Ban On Non-Custodial Wallets ⋆ ZyCrypto
Advertisement     On Thursday, the EU will vote on a controversial crypto AML draft. Coinbase and industry players have called on the public to pressure lawmakers to c...
Changing Focus to Entity Centric Detection
Anti-money laundering and fraud are rapidly changing areas, and while the pandemic and other challenges influenced the AML sector in 2021, this year will see a major shift as we continue to learn how ...
Alchemy Pay partners with BASIS ID for global KYC and AML services
The fiat-crypto payment solutions provider, Alchemy Pay (ACH) has partnered with BASIS ID for comprehensive, global Know-Your-Customer and Anti-Money-Laundering verifications. This partnership will fu...
Argentinian UFI proposes AML measures for crypto
Crypto regulations are getting more stringent over time as the count of crimes rises in the industry. Recently an Argentinian anti-money laundering regulator is reportedly working to force cryptocurre...
Bank of Israel Issues Draft Regulations Regarding AML for Crypto Firms
The Bank of Israel has issued a new draft guideline to stakeholders in the cryptocurrency ecosystem concerning Anti-Money Laundering (AML) provisions. According to the press release published by the b...
Upcoming AML Regulations in Estonia to Affect Cryptocurrency Industry – Regulation Bitcoin News
Estonia is preparing to enforce a set of new anti-money laundering rules that will stiffen requirements for crypto companies operating under Estonian license. The changes come amid concerns that Russi...
And here goes another BitMEX Co-founder to plead guilty for US AML violations
Crypto exchange platform BitMEX accused of avoiding US AML regulations; setting up offshore operations, and allowing US customers to transact One of the three co-founders of BitMEX, Samuel Reed, has f...
UK Financial watchdog shuts down crypto ATMs and awaits March 31 deadline for crypto companies to comply with tough AML requirements
The UK financial watchdog, the FCA, has warned operators of crypto ATMs to shut down their machines or face enforcement action. The FCA is also ready to reject any crypto companies operating in the UK...
How Europe’s new AML regulation will affect crypto
According to recent media reports, six European countries, led by Germany, are working on launching an Anti-Money Laundering (AML) body that will include the cryptocurrency market in its purview. Deta...
Third BitMEX Founder To Pay $10M Fine After AML Guilty Plea
BitMEX co-founder Samuel Reed pleaded guilty to anti-money laundering offenses and agreed to pay a $10 million fine, according to a statement from the US Attorney’s Office on Thursday. Reed is the exc...
US AML watchdog issues alert on potential crypto sanctions evasion from Russia
US authorities continue to be on high alert for Russia to use cryptocurrencies to evade the recent round of sanctions. On March 7, the Financial Crime Enforcement Network, or FinCEN, put out an alert...
The U.S. Should Disavow CBDCs And Set The Standard For Protecting Financial Privacy
TOPSHOT – A protester walks in front of parked trucks as demonstrators continue to protest the … [+] vaccine mandates implemented by Prime Minister Justin Trudeau on February 8, 2022 in Ot...
EU members reportedly plan for AML watchdog to oversee crypto firms by 2024
The European Commission, in coordination with other authorities, reportedly plans to have its financial watchdog group potentially oversee illicit transactions at crypto firms. According to a Tuesday ...
EU Members Want to Task New AML Watchdog With Crypto Oversight, Report Unveils – Regulation Bitcoin News
A group of EU nations have reportedly been lobbying to entrust oversight of the crypto space to a new anti-money laundering (AML) agency. Behind the move are concerns that companies dealing with digit...
European Union To Grant Crypto Oversight to New AML Watchdog: Report
The European Union is reportedly planning to grant a new financial watchdog the responsibility of overseeing the crypto industry’s anti-money laundering and associated risks, per Bloomberg. Per Bloom...
New AML requirements for crypto firms laid off by Italy
Crypto forms’ new AML requirements waived off by Italy Registration and reporting requirement established for Virtual Asset and Service providers The plan does not align with EU’s passport license ...
India-based crypto exchange CoinDCX beefs up AML protection with Solidus Labs » CryptoNinjas
CoinDCX, the popular India-based crypto exchange, announced today that it has selected crypto-native risk monitoring firm Solidus Labs as a strategic compliance partner. With the aim to protect its us...
FINRA Fines Former Interactive Brokers AML Compliance Officer
The Financial Industry Regulatory Authority (FINRA) has slapped a financial penalty of $25,000 on Arnold J. Feist, a former AML Compliance Officer (AMLCO) of Interactive Brokers, for severe lapses in ...
Crypto firms face cliff-edge in UK as time ticks down for AML approval
The fate of the ability for 96 crypto firms to operate in the UK hangs in the balance, as new data highlights a backlog of anti-money laundering applications that must be dealt with by the Financial C...
Credit Suisse AML Lawsuit Will Determine Future of Swiss Banking Rules
The trial of Credit Suisse in Switzerland court for allowing a Bulgarian drug trafficker to launder illicitly gained money has started on Monday. It is the first criminal trial of a Swiss bank and the...
Binance Restricts Nigerian Accounts in Order to Comply With AML & KYC Measures
Binance Holdings Ltd. restricted personal accounts of several users in Nigeria to ensure the security of the platform, the CEO said in a blog post. “User security remains our top priority,” Binance CE...