Money Laundering and Travel Rule

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

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

EBA issues 'travel rule' guidelines

Finextra

JULY 4, 2024

The European Banking Authority (EBA) issued today 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 Rules Money Laundering Authorization

Webinars

From Start to Scale: Driving Growth Through Seamless Payments Implementation

MORE WEBINARS

EBA expands Travel Rule to tackle money laundering

The Paypers

JULY 8, 2024

The European Banking Authority (EBA) has expanded its Travel Rule guidelines to include cryptocurrency service providers and intermediaries.

Travel Rule

Travel Rule Money Laundering Rules Cryptocurrency

‘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

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

PYMNTS

NOVEMBER 20, 2019

Travel Rule. Digital currency exchanges reportedly are not happy with this move, given that the guidance seems sure to lead to more expense on the part of those companies in making sure they comply with the new rules. At issue most of all is Recommendation 16 in the FAFT guidance, a so-called “travel rule.”

Travel Rule

Travel Rule Rules Digital Currency Cryptocurrency

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

PYMNTS

DECEMBER 10, 2020

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. How Money Launderers Exploit Cryptocurrency. or the U.S.,

AML

AML Cryptocurrency Money Laundering Compliance

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 Travel Rule

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

BYDFi Joins CODE and VerifyVASP Alliances

Fintech News

DECEMBER 12, 2024

The partnership includes successful integration with the Travel Rule compliance solution, ensuring adherence to South Koreas regulatory standards for crypto transactions. BYDFi announced its official membership in South Koreas CODE VASP Alliance. CODE formally welcomed BYDFi’s participation at the same time as a post.

Travel Rule

Travel Rule Compliance AML Money Laundering

Here’s How 10 APAC Markets Are Approaching Crypto Regulation

Fintech News

FEBRUARY 27, 2024

In pursuit of clearer regulatory guidelines, Anti-Money Laundering (AML) registration requirements were enforced from March 2023. Moreover, the Directorate of Enforcement in India confiscated over 1,144 crore Indian Rupees (approximately US$130 million) linked to crypto-related money laundering offences.

APACS

APACS Regulations Stablecoins Cryptocurrency

XREX Aims To Stabilize X-Border Trade With MyXchange Rollout

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

AML Travel Rule Money Laundering Blockchain

Sumsub Improves Crypto Transaction Monitoring With Elliptic Integration

The Fintech Times

NOVEMBER 27, 2024

Full-cycle verification platform, Sumsub has enhanced its Crypto Transaction Monitoring and Travel Rule solutions following an integration with Elliptic , the cryptoasset risk manager. The partnership will be especially effective as blockchain-related crime is a growing concern.

Transactions

Transactions Financial Crimes Crime Blockchain

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

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

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

Neopay

MAY 7, 2024

This involves implementing more stringent oversight and reporting processes, aligning with the 2022 update to the Money Laundering Regulations (MLR). This includes references to the travel rule and updates to sections on risk assessment and fraud.

Financial Crimes

Financial Crimes Crime Risk Assessment Money Laundering

Futures May Not Be The Way Of Crypto’s Future

PYMNTS

SEPTEMBER 24, 2019

CCN reported last week that the Financial Action Task Force (FATF), which is an inter-governmental body, has anti-money laundering (AML) standards in place that enforce what is known as a “travel rule” where transactions over $1,000 need to be identified.

Bitcoin

Bitcoin Travel Rule Cryptocurrency Money Laundering

Here Are All The Licensed Crypto Services Providers in Singapore

Fintech News

JANUARY 24, 2024

The move aims to protect against financial crime and loss, particularly in digital fraud, and includes broadening DPT service definitions and enhancing Anti-Money Laundering (AML) protocols such as Customer Due Diligence and transaction monitoring.

Service Provider

Service Provider Cryptocurrency Payments Institute Stablecoins

Hong Kong Consults on Proposed Approach to Stablecoin Legislation

Global Fintech & Digital Assets

JANUARY 8, 2024

The FRS issuer would need to have appropriate senior management, risk management, and anti-money laundering / counter-financing of terrorism controls (including for conducting customer due diligence and complying with the travel rule) for its operations. Governance and risk management requirements would be imposed.

Stablecoins

Stablecoins Consulting Issuers Non-Bank

Payments Space

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

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

EBA issues 'travel rule' guidelines

Webinars

EBA expands Travel Rule to tackle money laundering

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

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

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

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

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

BYDFi Joins CODE and VerifyVASP Alliances

Here’s How 10 APAC Markets Are Approaching Crypto Regulation

XREX Aims To Stabilize X-Border Trade With MyXchange Rollout

Sumsub Improves Crypto Transaction Monitoring With Elliptic Integration

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

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

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

Futures May Not Be The Way Of Crypto’s Future

Here Are All The Licensed Crypto Services Providers in Singapore

Hong Kong Consults on Proposed Approach to Stablecoin Legislation

Stay Connected