PYMNTS

AUGUST 20, 2018

Charges of money laundering and illegal money transmission have been levied against a 21-year-old bitcoin dealer in California. The charges allege that Burrell sold roughly $750,000 in bitcoin to about 900 individuals throughout the United States over a period that stretched from January 2015 to April 2016.

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Money Laundering Bitcoin Legal Framework Laws 41

PYMNTS

SEPTEMBER 10, 2019

will be required to comply with regulatory standards to prevent money laundering and terrorism financing. Whether it’s bitcoin, Ethereum, Libra, our message is the same to all of these companies: Anti-money laundering and combating the financing of terrorism has to be built into your design from the get-go,” she said.

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Money Laundering Finance Cryptocurrency Digital Currency 43

PYMNTS

JUNE 22, 2020

New Zealand police have frozen $90 million they say belongs to alleged bitcoin scammer Alexander Vinnik in what’s being called the country’s largest money seizure ever. Gox, the bitcoin exchange based in Japan. In 2017, Vinnik was arrested while on vacation in Greece at the request of U.S. authorities, AP reported.

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Bitcoin Money Laundering Crime Financial Crimes 72

PYMNTS

JANUARY 18, 2018

Treasury’s financial crime unit is picking up enforcement of cryptocurrency platforms that don’t have strong internal mechanisms in place to prevent money laundering, according to a report in Reuters. must comply with the anti-money laundering rules on the books, including the requirement to file reports about suspicious activity.

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Money Laundering Treasury Cryptocurrency Financial Crimes 47

Payments Source

MARCH 9, 2020

The Treasury secretary’s recent Senate testimony coming down on cryptocurrencies is misguided. Regulations should require building better blockchain technology at the banks.

Money Laundering 71

Money Laundering Bitcoin Treasury Cryptocurrency 71

Payments Source

JULY 26, 2016

Bitcoin is property, not money, a Florida judge ruled Monday in a criminal case against a man accused of money laundering and unlicensed money transmission.

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Bitcoin Money Laundering AML Rules 63

PYMNTS

JULY 12, 2019

The move comes after the Canadian government decided to ease up on some of its new anti-money laundering regulations due to feedback from payment service providers and crypto exchanges. As a result, the platforms are now classified as money service businesses (MSBs).

Bitcoin 40

Bitcoin ATM Rules AML 40

PYMNTS

AUGUST 4, 2019

Cryptocurrency compliance company Elliptic has released the Elliptic Data Set, which aims to identify crypto transactions associated with money laundering. The research found that only 2 percent of the 200,000 bitcoin transactions in the data set were illicit, while 21 percent were identified as lawful.

Money Laundering 46

Money Laundering Bitcoin Transactions AML 46

PYMNTS

JANUARY 29, 2019

He also deposited 230 bitcoins ($1.8 million) onto another cryptocurrency exchange and tried to withdraw the money through a bitcoin ATM. In other news, bitcoin prices fell again on Monday (Jan. 28) to $3,443, its lowest level since mid-December.

Digital Currency 67

Digital Currency Bitcoin AML Cryptocurrency 67

PYMNTS

NOVEMBER 26, 2019

The decision was made to block the possibility of money laundering and inflow from external networks,” the firm said, adding that other crypto exchanges have dropped monero over the same concern. “As And Bitstop has announced a partnership with Simon Malls to bring a fleet of Bitcoin ATMs to various shopping destinations.

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Bitcoin ATM Money Laundering Blocks 56

PYMNTS

JULY 10, 2018

Although new rules to combat money laundering in the European Union took effect this week, there are already calls for more reforms after a series of banking scandals in Latvia, Estonia and Malta. The European Parliament has asked the ECB to boost its current AML checks before new reforms can be adopted.

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AML Money Laundering Laws Central Bank 41

PYMNTS

MAY 6, 2020

Irish bitcoin ATM operator Boinnex found itself facing roadblocks from Allied Irish Banks (AIB), which shut down its account and said it didn’t want to deal with an unregulated form like cryptocurrency, according to CoinDesk. Tierney said his experiences with Irish banking have jaded him to those sentiments.

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Bitcoin Cryptocurrency AML Money Laundering 70

The Paypers

APRIL 22, 2019

(The Paypers) The Financial Crimes Enforcement Network (FinCEN) has penalised a “peer-to-peer cryptocurrency exchanger” for breaking anti-money laundering (AML) rules.

Fincen 28

Fincen AML Money Laundering Laws 28

PYMNTS

DECEMBER 18, 2019

Like Libra , which has yet to be launched, Saga attempts to smooth over the issues with bitcoin, such as reducing the wild price swings and anonymity that have plagued the world’s biggest cryptocurrency. However, unlike Libra, Saga started from scratch, without the 5.4

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AML Checks Federal Reserve Cryptocurrency 52

FICO

APRIL 23, 2019

In between coloring eggs, if you picked up a paper or scrolled through a news site, you probably would have seen the news that $130 million cash was found at the house of the ousted president of Sudan and how the US government foiled a money laundering operation by drug traffickers using bitcoins. So, here’s the key problem.

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AML AI Money Laundering APACS 40

PYMNTS

JUNE 9, 2019

“While crypto assets do not pose a threat to global financial stability at this point, we remain vigilant to risks, including those related to consumer and investor protection, anti-money laundering (AML) and countering the financing of terrorism (CFT),” said the joint statement, according to Coin Telegraph.

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Bitcoin Risk ATM Regulations 72

The Paypers

APRIL 4, 2018

(The Paypers) New rules aimed to counter money laundering and terrorism financing (AML/CTF) have been announced by the Australian financial authorities.

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AML Authorization Rules Money Laundering 31

PYMNTS

SEPTEMBER 10, 2019

Netki announced that it has upgraded its digital identity service so that cryptocurrency firms can meet AML recommendations by the Financial Action Task Force (FATF) for fighting money laundering.

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AML Compliance Law Enforcement Money Laundering 40

PYMNTS

JANUARY 19, 2021

CoinDCX Go users will be able to trade small amounts of 14 of the largest digital coins, including bitcoin, ether and binance coin, according to CoinDesk. Crypto custodian BitGo will ensure users’ funds, and the app will be protected by anti-money laundering (AML), artificial intelligence (AI) algorithms, CoinDesk reported.

Bitcoin 57

Bitcoin Cryptocurrency Money Laundering AML 57

PYMNTS

JANUARY 15, 2019

At the same time, it was said that those who engage in digital asset dealing will have to follow rules for anti-money laundering (AML), among other regulations. million between 2015 and 2017 through the Finnish bitcoin exchange. dollars, The Telegraph reported.

Bitcoin 43

Bitcoin Regulations Digital Currency Money Laundering 43

PYMNTS

JUNE 2, 2020

Crypto intelligence company CipherTrace’s “ Spring 2020 Cryptocurrency Anti-Money Laundering and Crime Report ” revealed the thefts have escalated in the wake of the COVID-19 pandemic and ensuing global economic crisis. bitcoin ATM users sent more funds to high-risk exchanges than low-risk exchanges in 2019. On average, U.S.

Crime 52

Crime Cross-Border Money Laundering ATM 52

PYMNTS

JUNE 6, 2019

Dutch billionaire John de Mol, who created the reality TV program “Big Brother,” is suing Facebook for allowing fake ads which used his name and image to commit bitcoin-related fraud that swindled 1.7 In other news, Vancouver’s mayor is suggesting the ban of bitcoin ATMs, as the city’s police called them an “ideal money laundering vehicle.”.

Bitcoin 54

Bitcoin ATM Money Laundering Scams 54

PYMNTS

AUGUST 5, 2019

Thailand ’s anti-money laundering regulator has revealed plans to add cryptocurrency to the country’s laws. Police Maj. We may not find any clue, but that doesn’t mean the wrongdoing does not occur,” he explained, according to CoinDesk. In other news, Mastercard appears to be building its blockchain team with a slew of new hires.

Money Laundering 43

Money Laundering Laws Visa AML 43

PYMNTS

NOVEMBER 2, 2020

31, focuses on anti-money laundering (AML) practices and countering financing terrorism (CFT). The ministry’s AML and CFT policies incorporate the suggested policies set by the Financial Action Task Force (FATF) and will be monitored by the Caribbean Financial Action Task Force (CFATF).

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CBDC Distributed Ledger Technology (DLT) Visa AML 64

PYMNTS

JANUARY 6, 2019

And while crypto companies are working to strengthen their anti-money laundering (AML) protections, a Cointelegraph report shows that many of the world’s biggest banks still have a lot of work to do. million euro fine on BlueOrange Bank for AML noncompliance, and FINRA fined Swiss bank UBS $5 million for similar violations.

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Stablecoins Blockchain Finance AML 64

PYMNTS

FEBRUARY 28, 2020

In a report titled “The Dark Side of Latin America,” IntSights, which monitors cyberthreats, said Latin America is among the top regions for money laundering, done at least in part through cryptocurrency, and that such tactics are favored by organized crime.

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Money Laundering Crime AML Cryptocurrency 86

PYMNTS

JUNE 29, 2018

Following a regulatory crackdown and recent hacks, bitcoin prices have slumped to lows not seen for months. Bitcoin hasn’t reached that level since the middle of last November. The fall comes as financial regulators in Japan mandated stricter anti-money laundering (AML) practices for multiple crypto exchanges.

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Bitcoin Money Laundering Cryptocurrency AML 41

PYMNTS

APRIL 18, 2018

And the price of bitcoin plummeted by greater than 2 percent within minutes on Tuesday (April 17), Business Insider reported. Overall, bitcoin has dropped 41 percent since the beginning of 2018. He also had an accomplice: “We are sure of that,” police chief Gunnar Schram told Visir.

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Bitcoin Money Laundering Cryptocurrency AML 43

PYMNTS

OCTOBER 1, 2020

It said that the company was mandated to register the Commodity Futures Trading Commission as well as create and keep an “adequate” anti-money laundering (AML) effort, according to the release. However, the DOJ contended that the individuals “knew by no later than in or about September 2015 that because BitMEX served U.S.

AML 54

AML Money Laundering Bitcoin Crime 54

PYMNTS

JULY 27, 2018

FitPay , the startup technology platform that adds contactless payment capabilities to wearable and Internet of Things (IoT) devices, is looking to serve consumers who own bitcoin with a new payment device. Beyond bitcoin , FitPay plans to look into more cryptocurrencies in the future.

Bitcoin 44

Bitcoin Contactless Payments Cryptocurrency Money Laundering 44

PYMNTS

MARCH 10, 2017

“What goes up must come down” is, unfortunately, the most appropriate proverb to open this week’s bitcoin tracker. It all started when the price of bitcoin dropped by some $70 on Tuesday (March 7) for no readily apparent reason. Bitcoin would appear to recover, then sink further.

Bitcoin 46

Bitcoin Money Laundering Digital Currency Push-to-Card 46

Clearly Payments

MARCH 11, 2024

Cryptocurrency, such as Bitcoin, Ethereum, and others, operates on decentralized blockchain networks, enabling secure, peer-to-peer transactions without the need for intermediaries like banks or financial institutions. In recent years, the rise of cryptocurrency has redefined traditional notions of currency and payment systems worldwide.

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Cryptocurrency Financial Inclusion Consumer Protection Payments 104

PYMNTS

JANUARY 26, 2021

The guidelines expand to include virtual asset transfers and exchanges, as well as virtual asset storage and management in BSP’s licensing requirements and regulations, including its anti-money laundering (AML) and countering the financing of terrorism rules.

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Wire Transfer Blockchain Due Diligence Wires 97

PYMNTS

AUGUST 18, 2020

Early this year, Binance said it bolstered resources to take a more in-depth look at the possible ways in which so-called Bulletproof Exchangers were laundering money via the digital currency market. The firm indicated that Bulletproof Exchangers are renowned for lax anti-money laundering (AML) and know-your-customer (KYC) procedures.

Blockchain 56

Blockchain Money Laundering Bitcoin Digital Currency 56

The Paypers

APRIL 26, 2016

(The Paypers) The UK Treasury has revealed that it will not seek to impose anti-money laundering (AML) rules on digital currency wallet providers.

AML 28

AML Treasury Rules Money Laundering 28

PYMNTS

FEBRUARY 19, 2020

In other news, the Financial Conduct Authority’s anti-money-laundering initiatives have led to complications for EPayments Systems, which had one million user accounts frozen on Tuesday. The electronic money institution, authorized by the U.K., The electronic money institution, authorized by the U.K.,

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IRS Cryptocurrency Digital Currency Money Laundering 67

Finance Magnates

MARCH 26, 2023

ANTI-MONEY LAUNDERING: Money laundering would be more difficult (as more correlated reporting and systems integration of various financial institutions will make it so) KNOW YOUR CUSTOMER: The KYC would be inherently more advance. No more lengthy forms to fill out for money transfer/payments. Even Bitcoins.

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Cross-Border Suspicious Activity Report (SAR) Money Laundering SARS 52