PYMNTS

OCTOBER 11, 2018

CipherTrace noted in a report that digital currency theft has nearly topped $1 billion over the first three quarters of the year at $927 million, Reuters reported. The organization noted that digital currencies are not an effective store of value, unit of account or payment means.

Digital Currency 73

Digital Currency Bitcoin Money Laundering AML 73

PYMNTS

MAY 8, 2018

DMG Blockchain Solutions announced a new tool for crypto exchanges and enterprise payment platforms that facilitate cryptocurrency transactions aimed at enabling anti-money laundering (AML) and anti-fraud capabilities for users. Regulatory compliance for crypto exchanges is an emerging focus for industry players.

AML 40

AML Blockchain Money Laundering Regulatory Compliance 40

Fintech News

MAY 22, 2024

In May, Fintech Global released its inaugural FinCrimeTech50 list, recognizing the world’s leading technology companies fighting money laundering, fraud and financial crime. The list features the 50 most innovative tech companies offering solutions in financial crime and fraud prevention in the world.

Financial Crimes 82

Financial Crimes Crime APACS Risk Assessment 82

PYMNTS

JUNE 22, 2020

Vinnik, who’s currently held in France but wanted in the United States and his native Russia, allegedly laundered billions of dollars through BTC-e, one of the world’s largest digital-currency trading exchange, the Associated Press reported Monday (June 22). for violations of the Bank Secrecy Act. million penalty.

Bitcoin 72

Bitcoin Money Laundering Crime Financial Crimes 72

Fintech News

JANUARY 30, 2024

Other payment trends in Asia preceding 2024 including the rise of B2B buy now pay later (BNPL), growing prominence of central bank digital currency (CBDC), and prevalence of composable, cloud-based ‘as-a-Service’ IT architecture models have helped shape much of what we anticipate for 2024.

Payments Trends 116

Payments Trends Digital Currency Cross-Border Payments Instant Payments 116

Fintech News

JULY 3, 2024

In the heart of Southeast Asia, a small island nation is making giant strides in digital currencies. percent of its population owning digital assets, the city-state isn’t just participating in the crypto revolution—it’s leading it.

Financial Literacy 104

Financial Literacy Cryptocurrency Digital Currency Accreditation 104

PYMNTS

SEPTEMBER 12, 2019

This week , it was reported that the Financial Action Task Force (FATF), the global anti-money laundering organization, is monitoring the planned Libra cryptocurrency, a signal of the growing scrutiny on cryptocurrency’s potential for money laundering and terrorism financing. The drivers of AML initiatives in the U.S.

Procedures 46

Procedures Cryptocurrency Regulations AML 46

PYMNTS

SEPTEMBER 12, 2019

Financial services providers that slack on regulatory compliance and fail to safeguard their operations against money laundering, terrorist financing and other criminal activities may face damaged reputations and significant fines. Financial sector players must guard against all forms of money laundering and other criminal activities.

Suspicious Activity Report (SAR) 75

Suspicious Activity Report (SAR) FinTech Money Laundering AML 75

Clearly Payments

AUGUST 29, 2024

Central Bank Digital Currencies (CBDCs) have received attention in recent years as central banks worldwide explore the potential to evolve the way we conduct financial transactions. With the rise of digital payments, cryptocurrencies, and fintech innovations, CBDCs represent a new frontier in the evolution of money.

Central Bank 105

Central Bank Digital Currency CBDC Cross-Border Payments 105

Clearly Payments

MARCH 11, 2024

The Canadian Securities Administrators (CSA) and the Financial Transactions and Reports Analysis Centre of Canada ( FINTRAC ) have issued guidelines and regulations to ensure compliance with anti-money laundering (AML) and know-your-customer (KYC) requirements for cryptocurrency exchanges and service providers.

Cryptocurrency 104

Cryptocurrency Financial Inclusion Consumer Protection Payments 104

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

SEPTEMBER 30, 2020

In today’s top news in digital-first banking, global card issuing platform Marqeta debuted its Tokenization-as-a-Service (TaaS) offering, while the Bank of New York Mellon (BNY Mellon) has named a new executive for global market infrastructure. Plus, Jumio is strenghtening its anti-money laundering (AML) functions.

Fincen 52

Fincen Financial Crimes AML Card Issuer 52

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

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).

CBDC 64

CBDC Distributed Ledger Technology (DLT) Visa AML 64

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

AUGUST 18, 2020

The platform said that “suspicious activity” that its Sentry workforce found and examined in conjunction with Ukraine’s Cyber Police brought about the identification and detention of a purported cybercriminal group behind alleged ransomware activities and laundering of over $42 million in digital currencies during the past two years. “We

Blockchain 56

Blockchain Money Laundering Bitcoin Digital Currency 56

PYMNTS

FEBRUARY 19, 2020

The IRS has been trying to combat cryptocurrency tax evasion, and the agency has been working on establishing more concrete guidelines for digital currencies. The attack comes just days after the first one, which claimed over $350,000 worth of digital currency from the bank.

IRS 67

IRS Cryptocurrency Digital Currency Money Laundering 67

PYMNTS

SEPTEMBER 30, 2018

1) that IdentityMind’s pioneering compliance, risk management and fraud prevention platform has integrated CipherTrace ’s digital currency risk assessment technology. Virtual currencies are an important, emerging area within the world’s fast-growing digital economy. IdentityMind Global announced Monday (Oct.

Suspicious Activity Report (SAR) 57

Suspicious Activity Report (SAR) Money Laundering Risk Assessment SARS 57

PYMNTS

JANUARY 7, 2019

The volatility of cryptos — and the emergence of any number of blockchain and tokenization projects through the last year — has invited fresh regulatory scrutiny of digital currencies. In Ireland, reported CryptoGlobe , the Irish cabinet has approved legislation that will bring more regulation to the sector.

Regulations 60

Regulations Money Laundering FDIC Digital Currency 60

FICO

DECEMBER 17, 2020

As digital currencies grow, criminals are taking advantage of the emerging technology. Anti-financial crimes regulations require banks to enact robust risk management frameworks, including extensive KYC due diligence, integrated safeguards for AML transaction monitoring, and sanctions screening. This includes $2.8

Cryptocurrency 52

Cryptocurrency Risk Financial Crimes Crime 52

PYMNTS

DECEMBER 9, 2020

It takes significant resources when developing an exchange in-house to locate and pay liquidity providers, know-your-customer (KYC) providers, custodians, cybersecurity providers and anti-money laundering providers (AML) — while also convincing financial institutions to function as the role of fiat on-off ramps, according to the post.

AML 70

AML Travel Rule Money Laundering Blockchain 70

PYMNTS

SEPTEMBER 2, 2020

Scott allegedly worked with Ruja Ignatova and others to launder roughly $392.94 million of funds from a “wire fraud scheme” involving a so-called digital currency called OneCoin from 2015 to 2018, according to the letter. Scott, according to a letter posted by CoinDesk. However, the company said it turned down $14.34

Money Laundering 60

Money Laundering Bitcoin Wires Wire 60

PYMNTS

JANUARY 25, 2019

Chainalysis unveiled an anti-money laundering (AML) compliance solution for stablecoins called Know Your Transaction (KYT), the company said in an announcement. In other news, Robinhood got the green light to trade seven digital currencies — such as bitcoin and litecoin, among others — in New York state, Reuters reported.

Blockchain 49

Blockchain Stablecoins Bitcoin Digital Currency 49

PYMNTS

APRIL 29, 2020

With regulations surrounding digital currencies still in flux from one market to the next, compliance remains one of the most challenging obstacles for both crypto firms and banking providers to overcome. As Karalevi? . ” Contributing To The Payments Ecosystem.

Cryptocurrency 113

Cryptocurrency Cross-Border Compliance AML 113

PYMNTS

OCTOBER 14, 2020

While the pandemic has accelerated the use of digital payments in general, the broader market’s understanding and embrace of the scale of digital currencies (Voyager currently facilitates 50 on its platform) remains quite slim. Establishing Trust And Confidence.

Treasury 129

Treasury Cryptocurrency Stablecoins Fincen 129

PYMNTS

DECEMBER 18, 2019

Regarding some of the concerns with digital currency such as Libra , she pointed to anti-money laundering (AML), counter-terrorist financing (CTF) and know-your-customer (KYC) concerns as well as monetary policy implications.

Risk 52

Risk Federal Reserve Stablecoins Central Bank 52

PYMNTS

JANUARY 12, 2021

That flexibility is especially useful in B2B transactions where entering new markets means that suppliers and buyers may transact across borders and across currencies, where everything from compliance to tax collection issues must be considered. billion in 2024, PYMNTS reported in The FI’s Guide to Modernizing Digital Payments.

Payment APIs and Integration 104

Payment APIs and Integration Payments B2B Money Laundering 104

PYMNTS

JANUARY 16, 2020

s Financial Conduct Authority (FCA) took the reins on oversight of cryptocurrency asset oversight — specifically, oversight of anti-money laundering (AML) and counter terrorist financing (CTF) activities. 10, to be exact, the European Union’s 5th Anti-Money Laundering Directive came into effect. Across the EU.

Regulations 52

Regulations Money Laundering Due Diligence Cryptocurrency 52

PYMNTS

JANUARY 19, 2021

Crypto custodian BitGo will ensure users’ funds, and the app will be protected by anti-money laundering (AML), artificial intelligence (AI) algorithms, CoinDesk reported. The trader had sold digital currency to one of the men in three separate transactions, according to the report.

Bitcoin 57

Bitcoin Cryptocurrency Money Laundering AML 57

PYMNTS

AUGUST 14, 2019

Blanco took to the stage at the 12th Annual Las Vegas Anti-Money Laundering Conference yesterday (August 13). The second was the rise of cryptocurrency (though during his remarks he tended to refer to it as Convertible Virtual Currency or CVC). Mobile Gaming And Digital Currency . and around the world.

Fincen 65

Fincen Financial Crimes Crime Suspicious Activity Report (SAR) 65

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. According to a statement from the agency last month, which was cited by the outlet, almost 2,700 of the country’s citizens traded digital currency valued at $15.35

Bitcoin 43

Bitcoin Regulations Digital Currency Money Laundering 43

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 The crypto exchange will end deposits of XMR as of Nov. 29, and will block withdrawals from Friday to Dec.

Bitcoin 56

Bitcoin ATM Money Laundering Blocks 56

CB Insights

NOVEMBER 5, 2020

Payments: This category includes companies working on tech like payment currencies, stablecoins (cryptocurrency pegged to the value of a non-volatile asset like the dollar), and real-time gross settlement (RTGS) systems that can enable transactions within a DLT-based capital markets framework.

Real Time Gross Settlement (RTGS) 98

Real Time Gross Settlement (RTGS) Distributed Ledger Technology (DLT) Blockchain Money Laundering 98

Fintech News

JUNE 19, 2024

Be it central bank digital currencies (CBDCs), a tokenised digital Singapore Dollar, or various initiatives backed by governmental regulators, stablecoins are one of the more pivotal developments in the world of cryptocurrencies and blockchain technology.

Stablecoins 107

Stablecoins Cross-Border Cross-Border Payments Blockchain 107

PYMNTS

OCTOBER 18, 2018

In July, reports in the Financial Times said Switzerland is working to open the nation’s traditional corporate banking market to cryptocurrency companies finding it difficult to get banked, thanks to fears over anti-money laundering (AML) violations and other compliance issues. “Time is pressing,” he said.

Cryptocurrency 85

Cryptocurrency AML Blockchain Money Laundering 85

PYMNTS

SEPTEMBER 11, 2019

“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.

Money Laundering 46

Money Laundering Stablecoins AML Treasury 46

The Fintech Times

DECEMBER 15, 2023

Innovations to overcome the current lack of transparency and control around where money is within the system will continue to emerge, enabled by the much richer data landscaped that comes with the shift to ISO20022 – especially where this data aids know your customer (KYC) and anti-money laundering (AML) compliance.

Cross-Border 59

Cross-Border Cross-Border Payments Interoperability Payments 59