Money Laundering, Regulations and Travel Rule

The EBA issues ‘travel rule’ guidance to tackle money laundering and terrorist financing in transfers of funds and crypto assets

Neopay

JULY 18, 2024

The European Banking Authority (EBA) issued new Guidelines on the so-called ‘travel rule’, i.e. the information that should accompany transfers of funds and certain crypto assets. This rule will help tackle the abuse of such transfers for money laundering and terrorist financing purposes.

Travel Rule

Travel Rule Money Laundering Rules Finance

Understanding Crypto Money Laundering, and How to Get a Handle on It

Fintech News

JULY 17, 2024

A recent comprehensive report by Chainalysis sheds light on the intricate world of crypto-related money laundering. The Scale of Crypto Money Laundering The magnitude of crypto-related money laundering is staggering. Usage of mixers peaked in 2022, with over US$1.5 billion of value received in April alone.

Money Laundering

Money Laundering Law Enforcement AML Non-Bank

‘Travel Rule’ To Force Crypto Exchanges To Share Customer Data

PYMNTS

NOVEMBER 15, 2019

government is going to strictly oversee the implementation of rules that would force crypto exchanges, marketplaces and digital wallets to identify their customers when they do transactions over a certain monetary threshold, according to a report by Reuters. The amount of money laundering crime may exceed $4.3 15) that the U.S.

Travel Rule

Travel Rule Rules Fincen Money Laundering

Webinars

From Start to Scale: Driving Growth Through Seamless Payments Implementation

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The EBA consults on new Guidelines on preventing the abuse of funds and certain crypto-assets transfers for money laundering and terrorist financing purposes

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.

Money Laundering

Money Laundering Consulting Finance AML

Here’s How 10 APAC Markets Are Approaching Crypto Regulation

Fintech News

FEBRUARY 27, 2024

2023 marked a pivotal year in the Asia-Pacific (APAC) region’s approach to crypto regulation, influenced significantly by the preceding implosion of Sam Bankman-Fried’s FTX exchange and the collapse of of Terra, the algorithmic stablecoin created by Korean entrepreneur Do Kwon.

APACS

APACS Regulations Stablecoins Cryptocurrency

Can FATF’s New ‘Travel Rule’ Help Build A Better Crypto Ecosystem?

PYMNTS

NOVEMBER 20, 2019

Here’s the news peg upon which this latest PYMNTS discussion with Cohen hung: the Financial Action Task Force (FATF), a respected and influential global standards body that deals with AML issues, has published guidance on how its 37 members should regulate cryptocurrency exchanges. Travel Rule. Better Use Cases.

Travel Rule

Travel Rule Rules Digital Currency Cryptocurrency

U.S. Gov’t. Will Enforce AML Rules For Crypto

PYMNTS

NOVEMBER 15, 2019

government is going to strictly oversee the implementation of rules that would force crypto exchanges, marketplaces and digital wallets to identify their customers when they do transactions over a certain monetary threshold, according to a report by Reuters. The amount of money laundering crime may exceed $4.3 15) that the U.S.

Rules

Rules AML Travel Rule Fincen

Deep Dive: Cracking Down On Cryptocurrency Exchange Cybercrime With AML/KYC Compliance

PYMNTS

DECEMBER 10, 2020

billion in laundered money flow through cryptocurrency exchanges, up from $1 billion in 2018. Government regulators and cryptocurrency exchanges are frantically looking for ways to regulate and prevent the laundering of stolen money through cryptocurrencies, with some methods showing more promise than others.

AML

AML Cryptocurrency Money Laundering Compliance

EBA issues guidance to crypto-asset service providers to effectively manage their exposure to ML/TF risks

Neopay

JANUARY 25, 2024

The European Banking Authority (EBA) on 16th January extended its Guidelines on money laundering (ML) and terrorist financing (TF) risk factors to crypto-asset service providers (CASPs).

Service Provider

Service Provider Risk Due Diligence Money Laundering

Understanding the FCA’s proposed updates to the Financial Crime Guide

Neopay

MAY 7, 2024

Here are the main updates proposed by the FCA and their implications for regulated firms: Sanctions: enhancing control and compliance In response to geopolitical events such as Russia’s invasion of Ukraine, the FCA is proposing more rigorous controls and checks concerning sanctions.

Financial Crimes

Financial Crimes Crime Risk Assessment Money Laundering

Today In Digital-First Banking: Oracle Rolls Out Cybersecurity Apps For FIs; The ACH Reports Rise In Q3 Activity

PYMNTS

OCTOBER 28, 2020

In today’s top news in digital-first banking, Oracle is introducing new cloud offerings to provide smaller banks with the tools to combat large-scale money laundering schemes, while the Automated Clearing House saw a sizable increase in acidity in Q3. Oracle Launches New Cybersecurity, AML Apps for Smaller Banks.

ACH

ACH Cybersecurity Fincen Travel Rule

Here Are All The Licensed Crypto Services Providers in Singapore

Fintech News

JANUARY 24, 2024

On January 14, 2019, the Singapore Parliament passed its comprehensive Payment Services Act (PS Act), replacing the former Payment Systems Oversight Act and Money-Changing and Remittance Businesses Act to broaden the scope of regulated payment activities to include emerging trends and industries like digital assets and cryptocurrencies.

Service Provider

Service Provider Cryptocurrency Payments Institute Stablecoins

Futures May Not Be The Way Of Crypto’s Future

PYMNTS

SEPTEMBER 24, 2019

The ICE contract does have some blessing from regulators, having been given the go-ahead by the Commodity Futures Trading Commission over storing the bitcoin tokens. We have to get to a place where we can be confident that trading is better regulated.”. In other crypto exchange news, Binance U.S., which operates as the U.S.

Bitcoin

Bitcoin Travel Rule Cryptocurrency Money Laundering

Hong Kong Consults on Proposed Approach to Stablecoin Legislation

Global Fintech & Digital Assets

JANUARY 8, 2024

Background The Consultation Paper follows the discussion paper released by the HKMA in January 2022 (Discussion Paper) seeking the public’s views on its proposed approach to the regulation of stablecoins (see Latham’s blog post ), and its conclusions issued in January 2023 (Discussion Conclusions). FRS issuers would be regulated and licensed.

Stablecoins

Stablecoins Consulting Issuers Non-Bank

Payments Space

The EBA issues ‘travel rule’ guidance to tackle money laundering and terrorist financing in transfers of funds and crypto assets

Understanding Crypto Money Laundering, and How to Get a Handle on It

‘Travel Rule’ To Force Crypto Exchanges To Share Customer Data

Webinars

The EBA consults on new Guidelines on preventing the abuse of funds and certain crypto-assets transfers for money laundering and terrorist financing purposes

Here’s How 10 APAC Markets Are Approaching Crypto Regulation

Can FATF’s New ‘Travel Rule’ Help Build A Better Crypto Ecosystem?

U.S. Gov’t. Will Enforce AML Rules For Crypto

Deep Dive: Cracking Down On Cryptocurrency Exchange Cybercrime With AML/KYC Compliance

EBA issues guidance to crypto-asset service providers to effectively manage their exposure to ML/TF risks

Understanding the FCA’s proposed updates to the Financial Crime Guide

Today In Digital-First Banking: Oracle Rolls Out Cybersecurity Apps For FIs; The ACH Reports Rise In Q3 Activity

Here Are All The Licensed Crypto Services Providers in Singapore

Futures May Not Be The Way Of Crypto’s Future

Hong Kong Consults on Proposed Approach to Stablecoin Legislation

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