PYMNTS

JUNE 26, 2020

The company will also tell the agency about any intentions for any kind of cryptocurrency issuance in the three years to come. In other news, the individual behind the cryptocurrency project that purportedly had anti-money laundering features was brought forward on wire fraud and money laundering charges by the U.S.

Money Laundering 103

Money Laundering AML Bitcoin Cryptocurrency 103

PYMNTS

DECEMBER 9, 2020

There are currently more than 5,500 different cryptocurrencies in circulation, but the biggest name in the business — and often a metonym for the industry itself — is bitcoin. The first stage of money laundering prevention begins at the point of entry, when new customers sign up for accounts with BitGo. The year 2020 saw 18.42

Money Laundering 66

Money Laundering Cryptocurrency AML Bitcoin 66

Payments Source

JULY 6, 2018

Criminals are stealing more cryptocurrency from exchanges, and that’s driving growth in a cottage industry of services that allows for money laundering of coins.

Money Laundering 81

Money Laundering Cryptocurrency 81

Payments Source

JULY 4, 2018

Both South Korea and Japan, for example, are crypto-friendly countries, but they’re also cracking down on anonymous cryptos, citing money laundering risk, according to Bob Rutherford, CEO and founder of Hedge.

Money Laundering 72

Money Laundering Cryptocurrency Governance Government 72

Fintech News

MARCH 24, 2025

Cryptocurrency fraud is declining in Asia-Pacific (APAC), driven by advanced technology adoption and stricter regulatory oversight. According to a new report by Sumsub, crypto fraud rates declined by a remarkable 23% between 2023 and 2024, positioning APAC as a leader in combating crypto fraud. in 2023 to 2% in 2024.

APACS 89

APACS Verification Fraud Detection Money Laundering 89

PYMNTS

DECEMBER 10, 2020

Cryptocurrency is one of the fastest-moving industries in the digital world, with a market that was valued at $1.03 Bitcoin is one of the most famous names in the cryptocurrency space, accounting for $6 billion in daily transactions among 153 million registered user addresses. Cryptocurrency-related crimes totaled $4.3

AML 88

AML Cryptocurrency Money Laundering Compliance 88

Fintech Finance

OCTOBER 30, 2024

Our Distinguished Speakers line-up: Abbas Khamisa, Head of Treasury Solutions, Global Banking at MUFG Investor Services Alessandra D’Este, Senior Payments Expert, EMEA at Swift Amrit Toor, Solutions Architect at Cloudflare Andrea Moundi Savvides, Global Director of Risk and Compliance (Harneys) and Chair and Founding Member of the Cyprus Compliance (..)

Compliance 98

Compliance AML Money Laundering Payments 98

PYMNTS

NOVEMBER 10, 2020

PayPal is opening its network to allow consumers to shop using cryptocurrency. In the meantime, as central banks look toward a rough timeframe of 2025 to get up and running with digital fiat, McCarthy said that over the short term we’ll see more practical use cases leveraging cryptocurrencies — especially in the business-to-business space.

Cryptocurrency 129

Cryptocurrency Blockchain Bitcoin Online and Mobile Banking 129

Fintech News

DECEMBER 9, 2024

Rather than shying away from the complexities of the digital asset revolution, the city-state is actively embracing the potential of tokenisation and cryptocurrencies. The global nature of cryptocurrencies presents regulatory hurdles, particularly in areas like anti-money laundering (AML) and combating the financing of terrorism (CFT).

Cryptocurrency 114

Cryptocurrency Cross-Border Consumer Protection Facilitators 114

The Fintech Times

MAY 18, 2024

Crypto exchange, Binance has played a massive part in solving a major crypto-assisted money laundering case in Taiwan involving nearly NT$200million (approximately US$6million). The post Binance Plays Vital Role In Cracking Crypto-Assisted Money Laundering Case in Taiwan appeared first on The Fintech Times.

Money Laundering 69

Money Laundering Law Enforcement Financial Crimes Crime 69

Clearly Payments

MARCH 11, 2024

In recent years, the rise of cryptocurrency has redefined traditional notions of currency and payment systems worldwide. 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.

Cryptocurrency 104

Cryptocurrency Consumer Protection Financial Inclusion Payments 104

Neopay

JULY 18, 2024

Money laundering is a pervasive issue, affecting economies and societies worldwide. This clandestine nature makes it challenging to quantify the exact amount laundered annually. Cryptocurrency: Chainalysis reported that $23.8 billion in cryptocurrency was laundered in 2022, representing a 68% increase over 2021.

Money Laundering 52

Money Laundering AML Crime Cryptocurrency 52

PYMNTS

MARCH 1, 2019

In other news, there were more than 7,000 cases of suspected crypto-related money laundering reported to police in Japan last year. ” Coinhive , an in-browser Monero cryptocurrency miner that has been plagued by malware, revealed it is shutting down all week.

Money Laundering 75

Money Laundering Bitcoin Blockchain Cryptocurrency 75

Payments Source

SEPTEMBER 11, 2019

The “highest international anti-money laundering standards” would also need to be applied, it said in a statement on Wednesday. Swiss financial regulator Finma said Libra would need a payment system license and would be subject to additional rules to take “bank-like” risks into account.

Money Laundering 70

Money Laundering Rules Regulations Risk 70

PYMNTS

NOVEMBER 11, 2019

Governments are tightening know your customer (KYC) and anti-money laundering (AML) requirements on various industries out of increasing concern over fraud threats. The pair are located in different regulatory jurisdictions and thus present different compliance needs. Find more on these and other recent headlines in the Tracker.

Money Laundering 64

Money Laundering AML Online and Mobile Banking Deepfake 64

The Paypers

MARCH 23, 2021

The Financial Services Commission (FSC) has announced that South Korea’s anti-money laundering safeguards for cryptocurrency businesses will come into effect on 25 March 2021.

Money Laundering 62

Money Laundering Rules Cryptocurrency 62

PYMNTS

JANUARY 26, 2021

But step beyond bitcoin and enter the world of cryptocurrencies approaching mainstream acceptance. Governments and regulatory bodies all over the world are concerned with money laundering and illicit activity,” Johnson said, adding that “the tools that are in place will have to allow us to identify transactions that fit certain profiles.

Cryptocurrency 102

Cryptocurrency Bitcoin Blockchain Digital Currency 102

Payments Source

MAY 13, 2021

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Money Laundering 118

Money Laundering IRS Laws Cryptocurrency 118

PYMNTS

JULY 10, 2020

Stablecoins, the virtual currencies which seek price stability, could be the next target for money laundering and terrorist financing, a report found. If stablecoins were to become widespread, it could potentially lead to new risks regarding money laundering and terrorist financing,” FATF President Xiangmin Liu said at the time. “It

Money Laundering 56

Money Laundering Stablecoins Cryptocurrency Digital Currency 56

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

MAY 17, 2018

For cryptocurrency entrepreneurs in particular, many of whom are just developing the anti-money laundering programs they are required to have under other FinCEN rules, the CDD rule is worth taking note of, writes Laurel Loomis Rimon, senior counsel at O'Melveny & Myers LLP.

Fincen 71

Fincen Cryptocurrency Regs Money Laundering 71

FICO

AUGUST 4, 2021

It is well known that dealing in art can be a vehicle for money laundering and terrorist finance. And yet they are exchanging hands for huge sums, making them a great vehicle for money launderers. So, how do criminals go about using NFTs to launder money? A single grey pixel sold for ~$1.4 by Erik Stretz.

NFTs 66

NFTs Money Laundering AML Fincen 66

Stax

JANUARY 23, 2025

Ensure regulatory compliance by adhering to anti-money laundering (AML) laws and Know Your Customer (KYC) requirements. Anti-Money Laundering (AML): AML checks prevent the use of payment systems for illegal activities, such as money laundering or financing terrorism.

Underwriting 68

Underwriting PCI DSS Money Laundering Processors 68

The Payments Association

MARCH 19, 2025

Notably, the rise of cryptocurrencies, stablecoins, and Central Bank Digital Currencies (CBDCs) are transforming the digital payments landscape. These innovations offer businesses and consumers a way to move money faster, cheaper, and more securely.

Cross-Border 88

Cross-Border Reconciliation Compliance Payments 88

PYMNTS

APRIL 26, 2019

The Indian government has drafted a bill that would ban cryptocurrencies and attempt to regulate any official digital money, according to reports. . The idea is to ban the “sale, purchase and issuance of all types of cryptocurrency,” according to an unnamed government source cited by The Economic Times. .

Cryptocurrency 73

Cryptocurrency Money Laundering Governance Government 73

PYMNTS

JANUARY 14, 2021

As quoted by Reuters, she termed the cryptocurrency a “highly speculative asset, which has conducted some funny business and some interesting and totally reprehensible money laundering activity.” She pointed to the crypto’s use in criminal activity. She went on to say that “there has to be regulation.

Money Laundering 61

Money Laundering Bitcoin Regulations Central Bank 61

PYMNTS

APRIL 14, 2019

The International Monetary Fund ( IMF ) and the World Bank are partnering up to launch a private blockchain and “quasi-cryptocurrency.”. Since the coin has no monetary value, it’s not an actual cryptocurrency, according to The Financial Times.

Cryptocurrency 78

Cryptocurrency Blockchain Money Laundering Digital Currency 78

PYMNTS

AUGUST 28, 2019

While Facebook’s proposed cryptocurrency Libra hangs in regulatory limbo over concerns of money laundering and a threat to financial stability, popular social network Telegram has plans to release its own cryptocurrency by October, according to a report by The New York Times. “A

Cryptocurrency 75

Cryptocurrency Money Laundering Encryption Governance 75

Fintech News

MAY 1, 2024

Changpeng Zhao, the founder and former CEO of Binance , the world’s largest cryptocurrency exchange, has been sentenced to four months in prison by U.S. ” Zhao pleaded guilty last November to failing to implement a robust anti-money laundering programme at Binance. Following the plea, Binance agreed to a hefty US$4.3

Money Laundering 107

Money Laundering Cryptocurrency Settlement Breach 107

PYMNTS

OCTOBER 21, 2018

The Financial Action Task Force (FATF) announced that it will get one step closer to creating international standards for cryptocurrency when it launches its first set of rules in June of 2019. The move aims to stop the use of crypto for money laundering, terrorism financing or other crimes. Last year, the U.K.

AML 79

AML Money Laundering Bitcoin Regulations 79

Finovate

NOVEMBER 6, 2024

The partnership will enable users of Ingenico’s platform globally to accept payments in cryptocurrency. ” The partnership between Fenergo and Boerse Stuttgart Digital will speed the onboarding of banks, brokers, and asset managers ready to launch their own cryptocurrency and digital asset offerings. .”

Blockchain 64

Blockchain Cryptocurrency SWIFT Payments 64

Payments Source

DECEMBER 11, 2017

The risks of fraud, along with the current reputation of such currencies as often being used for money laundering and other criminal activities, has caused worry in the market, writes John Verver, and advisor to ACL.

Risk 74

Risk Money Laundering Cryptocurrency Blockchain 74

The Paypers

DECEMBER 21, 2020

Analytics tools provider FICO has teamed up with Crystal Blockchain to help financial institutions combat money laundering involving cryptocurrencies.

Cryptocurrency 57

Cryptocurrency Blockchain Money Laundering 57

PYMNTS

NOVEMBER 4, 2020

Toward that end, and more mainstream use cases, getting the rails in place to speed and streamline transactions, regardless of the cryptocurrency used, remains key. As spotlighted in this space , Ternio said it has joined Visa’s Fast Track as a cryptocurrency-focused enablement partner.

Bitcoin 83

Bitcoin Cryptocurrency Office of the Comptroller of the Currency Consumer 83

PYMNTS

DECEMBER 11, 2020

Money laundering and terrorist financing also go on the list these days, perhaps like never before. Money laundering is a global plague, with the estimated amount in a given year ranging from $800 billion to $2 trillion — or anywhere from 2 percent to 5 percent of the global gross domestic product (GDP),” the new Tracker states.

Money Laundering 87

Money Laundering AML Cryptocurrency Verification 87

Fintech News

MAY 12, 2024

The Financial Intelligence Unit (FIU) of India has granted approval to the cryptocurrency exchanges Binance and Kucoin to operate as Virtual Asset Service Providers (VASPs) in the country, according to the Economic Times. Vivek Aggarwal Vivek Aggarwal, Director of FIU-IND, confirmed the approvals during a press interaction.

Money Laundering 111

Money Laundering Best Practices Financial Crimes Cryptocurrency 111

Fintech Finance

DECEMBER 13, 2024

Helios , a leading global workforce management and payments platform, announces the launch of its cryptocurrency payroll funding solution in January 2025. The capability also prioritizes robust security and compliance, adhering to strict Know Your Customer (KYC) verification and Anti-Money Laundering (AML) standards through trusted partners.

Payroll 98

Payroll Process Cryptocurrency Money Laundering 98