Financial Crimes Legal Framework Money Laundering 
Fintech News
JULY 17, 2024
The rapid ascent of cryptocurrency has ushered in a new era of financial innovation, but it has also created novel challenges in combating financial crime. A recent comprehensive report by Chainalysis sheds light on the intricate world of crypto-related money laundering. billion of value received in April alone.
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. The anonymity offered by cryptocurrencies makes them attractive for laundering illicit funds.
Neopay
NOVEMBER 27, 2023
The European Banking Authority (EBA) has launched a public consultation on new Guidelines on preventing the abuse of funds and certain crypto-assets transfers for money laundering and terrorist financing purposes. The consultation runs until 26 February 2024.
The Fintech Times
AUGUST 19, 2024
In April 2024, the country reviewed the legal framework for virtual assets declaring that providers must register and comply with the duty to report to authorities. This reflects the growing acceptance of digital assets within the country’s legal framework.
PYMNTS
AUGUST 20, 2018
Charges of money laundering and illegal money transmission have been levied against a 21-year-old bitcoin dealer in California. He had allegedly done so through his bitcoin exchange, but had not registered that same exchange as a licensed money transmitter and did not have appropriate anti-money laundering measures in place.
Clearly Payments
FEBRUARY 8, 2024
Additionally, payment regulation mandates stringent security measures, data protection standards, and adherence to anti-money laundering (AML) regulations to thwart fraud, cybersecurity breaches, and illicit financial activities.
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