Anti-money laundering Financial News

15.02 / 22:52

Chainalysis lazarus group Anti-money laundering Crypto Money Laundering Dropped Almost 30% in 2023: Chainalysis

Crypto money laundering saw a major decrease of nearly 30% in 2023, Chainalysis’ newly released 2024 Crypto Crime Report revealed.

15.02 / 14:59

Digital Fighting Universities Anti-money laundering reports recommendations China to Revise AML Law to Address Risks Associated with Virtual Assets

China is set to revise its outdated Anti-Money-Laundering (AML) law in a bid to tackle the increasing risks associated with virtual assets.

14.02 / 08:51

Anti-money laundering crypto futures Digitex CEO Charged for Illegally Operating Crypto Futures

Digitex crypto futures exchange CEO Adam Colin Todd willfully failed to include adequate anti-money-laundering (AML) program, Florida federal court alleged.

18.01 / 07:25

Europe Anti-money laundering EU Tightens Crypto Regulations with Provisional AML Agreement

The European Union has provisionally agreed on new anti-money laundering (AML) regulations specifically targeting the crypto sector.

15.01 / 10:29

Tether USDT Anti-money laundering UN Report Highlights Tether’s Rising Role in Money Laundering Across Southeast Asia

In a recent report released by the United Nations Office on Drugs and Crime, Tether, one of the world’s largest stablecoin Tether, has been identified as a prominent tool employed by money launderers and fraudsters operating in Southeast Asia.

26.12 / 21:06

crypto regulation Anti-money laundering New EU Crypto Regulation Allow Governments to Freeze and Seize ‘Unexplained Wealth’ Believed Tied to Crime

European Union officials reached an agreement on December 12 on new crypto regulations that will grant member states expanded powers to freeze and confiscate assets suspected of being tied to criminal activities.

31.08 / 12:45

regulation Financial Services Anti-money laundering Switzerland eyes stricter anti-money laundering rules

'The reform should contribute significantly to protecting the financial centre from funds of criminal origin, and to strengthening Switzerland as a business location.'

25.08 / 18:17

COST UPS Cooper Fallout Flushing Hudson Anti-money laundering compliance TD could face penalties in probe of anti-money laundering compliance in U.S.

Toronto-Dominion Bank, coming off less-than-stellar third-quarter financial results that fell short of analyst expectations, said it is facing a probe over anti-money-laundering (AML) compliance in the United States.

01.08 / 10:19

Action Anti-money laundering Dubai fines bank for inadequate anti-money laundering controls

Dubai Financial Services Authority (DFSA) has fined $3 million or 11,100,131 dirhams on the Mirabaud (Middle East) Limited or Mirabaud bank for failing to have adequate anti-money laundering (AML) systems and controls between June 2018 and October 2021. The Dubai financial regulator found that «weaknesses in Mirabaud’s AML systems and controls meant that it processed transactions, for a group of nine interconnected client accounts managed by the same Relationship Manager, which raised a number of red flags related to suspicions of money laundering.» The DFSA however did not find that any of these transactions were in fact money laundering but the regulator said the activities of the relevant customer accounts exhibited characteristics similar to those commonly seen in the layering phase of a money laundering operation.

09.07 / 08:37

UPS BLOCK Anti-money laundering Centre Centre allows data sharing between anti-money laundering authorities, GSTN

₹13,900 crore and have also blocked wrongfully taken input tax credit of ₹1,430 crore. The government has been expanding the scope of information sharing among various regulatory and investigating agencies in order to prevent financial irregularities including tax evasion and money laundering.

01.06 / 18:37

Anti-money laundering businesses guidance UAE's Central Bank Introduces New Anti-Money Laundering Guidance for Crypto Businesses – Here's the Latest

The UAE’s Central Bank just introduced new anti-money laundering (AML) and counter-terrorism financing guidelines for crypto businesses and financial institutions handling digital assets, according to an announcement on Wednesday.

24.05 / 07:17

regulation AML Money laundering Anti-money laundering Japan’s crypto Anti-Money Laundering measures to start in June: Report

Lawmakers in Japan have decided to enforce stricter Anti-Money Laundering (AML) measures to trace cryptocurrency transactions from June 1.

09.03 / 18:13

business Law Adoption Banks AML banking Money laundering Anti-money laundering services Banks with crypto services require new Anti-Money Laundering capabilities

The new year began with the news that notable Web3 entrepreneur Kevin Rose fell victim to a phishing scam in which he lost over $1 million worth of nonfungible tokens (NFTs).

08.03 / 12:53

regulation AML Anti-money laundering India subjects crypto transactions to anti-money laundering law

While there’s nothing new in imposing anti-money laundering (AML) standards on crypto, it is only now that the Indian government has decided to notify all interested parties of the obligation to comply with the national AML law.

26.01 / 13:49

MET Anti-money laundering FCA says 85% of crypto firms failed its anti-money laundering test

Around 85% of crypto firms who applied for a licence with the Financial Conduct Authority failed to meet the regulator’s minimum standards for registration.

05.01 / 17:07

regulation coinbase Shell Anti-money laundering Coinbase to Pay $100M to Settle New York Regulators' Anti-Money Laundering Complaints

The US crypto exchange Coinbase has agreed to shell out a total of $100m to settle a complaint relating to “certain historical shortcomings” in its regulatory compliance work.

09.12 / 11:27

Santander Anti-money laundering Fine Santander hit with £108m fine for anti-money laundering failures

The UK's Financial Conduct Authority on 9 December said that it has fined Banco Santander's British arm £107.7m ($131.4m) for anti-money-laundering failures.

13.09 / 13:37

Provident Twitter Digital Anti-money laundering ePayments shutters as FCA Anti-Money Laundering regulations tighten

The electronic payments provider ePayments is putting the final nail in the coffin of its operations. ePayments issued email notices to clients on Tuesday, stating that it is officially closing its business operations in light of local regulations.

31.08 / 16:19

AML Bitcoin Anti-money laundering Georgia aims to adopt European crypto standards for Anti-Money Laundering

Georgia, one of the world’s most cryptocurrency-friendly countries, is moving to introduce new crypto regulations to pursue its ambitions to become a global crypto hub.

05.07 / 14:01

NFT regulation Europe Anti-money laundering lawmakers EU Lawmakers Want Anti-Money Laundering Rules To Cover NFTs

With the European Union advancing work on new regulations that could exert a significant impact on the crypto industry, a group of members of the European Parliament have proposed an amendment to the bloc’s anti-money laundering (AML) legislation that would cover non-fungible token (NFT) trading platforms with its provisions.

01.07 / 20:39

cryptocurrency regulation privacy Exchange Anti-money laundering Global Anti-Money Laundering Watchdog Presses Countries, Crypto Exchanges to Implement Key Requirement Faster

The Financial Action Task Force (FATF) is intensifying its pressure on virtual asset service providers (VASPs) and countries to accelerate the implementation of its rules on digital assets, as only a quarter of responding jurisdictions are currently making efforts to pass legislation to implement the organization’s key requirement, indicates the organization’s recent report.

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