Anti-Money Laundering

Anti-Money Laundering

Global Crypto Crime Gains Fall; Stablecoins Rise: Report

By Nithya Subramanian | 19/01/2024

The global amount received by illicit cryptocurrency addresses in 2023 fell 39 per cent, while stablecoins accounted for 60 per cent of illicit transactions, revealed Chainalysis.

Anti-Money Laundering

EU Council, Parliament Reach Provisional Agreement on AMLD6

By Manesh Samtani | 18/01/2024

The scope of the AML rules is broadened to include cryptoassets, luxury goods, football clubs and golden visas. There is also an EU-wide cash payment limit of EUR 10,000.

Anti-Money Laundering

Former VP of US Bank Pleads Guilty to AML Violations

By Mark Johnston | 18/01/2024

Peter McVey helped high-risk customers evade the bank’s AML controls, violating the Bank Secrecy Act.

Anti-Money Laundering

Cryptos Popular Among Money Launderers in SE Asia: UN Report

By Nithya Subramanian | 18/01/2024

Tether has emerged as a preferred choice for regional cyberfraud operations due to its stability and the ease, anonymity, and low fees of its transactions.

Anti-Money Laundering

EBA Issues Guidelines on ML/TF Risks Associated with CASPs

By Ranamita Chakraborty | 17/01/2024

The guidelines will foster a common understanding of ML/TF risks associated with crypto-assets service providers, the EBA said.

Anti-Money Laundering

BIS to Study Financial Crime Detection in Retail Payments

By Editors | 15/01/2024

Project Hertha will map financial crime typologies in real-time payment systems, and build a synthetic dataset to test identification of the typologies.

Anti-Money Laundering

SEBI Modifies Rules for Foreign Investments in AIFs

By Ajoy K Das | 15/01/2024

SEBI updates threshold for determining beneficial ownership, extends mandatory custodian and dematerialisation requirements to reduce money laundering risks.

Anti-Money Laundering

NYDFS Announces $8m Settlement With Genesis Global Trading

By Editors | 15/01/2024

Genesis Global Trading is also required to give up its BitLicense and cease all operations in New York as part of the settlement.

Anti-Money Laundering

Crypto Firms Lead Surge in AML Fines: Report

By Mark Johnston | 15/01/2024

Fenergo’s annual report reveals a 57 per cent surge in penalties for non-compliance with financial regulations in 2023.