AML

PureFi signs a strategic partnership agreement with KIROBO

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Time Stamp: November 15, 2021 10:43 AM - Modified On: November 15, 2021 - Published By:
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Republished By Plato

TEL AVIV, Israel, Nov. 15, 2021 /PRNewswire/ -- PureFi, a decentralized protocol that provides compliance tools while maintaining the anonymity of users, and Kirobo, a technology-rich company with a sophisticated proprietary solution that enables users to undo transfers of assets if sent to the wrong address, entered into a mutually beneficial partnership agreement that is aimed at cross-integrating both projects' proprietary systems to emphasize on AML compliance. Although DeFi has enjoyed massive success since its inception, the industry faces some risks and challenges that might affect users and its adoption by mainstream PureFi signs

How Binance Helps Legal Authorities Take Down Cybercriminals Laundering Illicit Funds

Source Node: https://news.bitcoin.com/how-binance-helps-legal-authorities-take-down-cybercriminals-laundering-illicit-funds/
Time Stamp: September 30, 2021 9:00 AM - Modified On: September 30, 2021 - Published By:
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sponsored According to the latest UN statistics, global money laundering transactions reach up to $2 trillion a year. A small fraction of that huge amount passes through the digital assets ecosystem, and responsible actors in it are working to bring that down even more. As the world’s leading cryptocurrency exchange, Binance has especially taken it upon itself to protect the safety and security of the virtual finance world. Here is how it helps legal authorities to take down cybercriminals laundering money. Busting the $500 Million FANCYCAT Ring In June 2021,

Fortune Publishes their Most Disgusting Bitcoin Article Yet. Here’s Why.

Source Node: https://bitcoinist.com/fortune-publishes-their-most-disgusting-bitcoin-article-yet-heres-why/?utm_source=rss&utm_medium=rss&utm_campaign=fortune-publishes-their-most-disgusting-bitcoin-article-yet-heres-why
Time Stamp: September 30, 2021 4:21 AM - Modified On: September 30, 2021 - Published By:
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Just when you thought Fortune couldn’t sink any lower with their Bitcoin slander, the publication tries to relate a neutral technology to “the alt-right” and “white supremacists.” Is this what journalism has devolved into? Unfortunately, in the case of Fortune, the answer is yes. This is not the first time they have used their publication as a weapon. They’ve tried to slander Bitcoin numerous times before, and there’s a concrete reason for that. Related Reading | Bitcoin And Crypto Adoption Soars 880% In 2021, This Is What’s Driving It Before

Cryptocurrency Exchanges Seek Employees to Solve Regulatory Issues

Source Node: https://coinidol.com/cryptocurrency-exchanges-seek-employees/
Time Stamp: September 25, 2021 7:11 AM - Modified On: September 25, 2021 - Published By:
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Sep 25, 2021 at 11:11 // News Many cryptocurrency exchanges have had problems with financial regulators in different countries. Some of them have had to shut down or move their operations to other countries. Others have been forced to look for ways to deal with supervisors and improve compliance. In 2021, cryptocurrency exchange Binance had numerous issues with regulators in different countries. As reported by CoinIdol, a world blockchain news outlet, it was charged and sanctioned by the Japanese Financial Services Agency (FSA) for allegedly conducting illegal business. Later, the

Singapore Monetary Authority Adds Binance to Investor Warning List

Source Node: https://beincrypto.com/singapore-monetary-authority-binance-investor-warning-list/
Time Stamp: September 3, 2021 2:37 AM - Modified On: September 3, 2021 - Published By:
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Singapore’s financial regulator, the Monetary Authority of Singapore (MAS), has added Binance to its investor warning list, becoming yet another country to warn investors.Sponsored Sponsored The Monetary Authority of Singapore (MAS), the country’s financial regulator, has added Binance to its investor alert list. The list warns investors of companies or firms that “may have been wrongly perceived as being licensed or regulated by MAS.” This is similar to a warning issued by the U.K.’s Financial Conduct Authority. Bloomberg asked the MAS questions about the incident — and it may be

Spain: Here are the latest regulatory requirements for crypto-exchanges

Source Node: https://ambcrypto.com/spain-here-are-the-latest-regulatory-requirements-for-crypto-exchanges/
Time Stamp: August 27, 2021 2:30 PM - Modified On: August 27, 2021 - Published By:
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Spain’s central bank is all set to roll out the new registration process for crypto-exchanges by September-October. Exchanges, along with crypto-asset custody platforms and wallets, will be required to register with authorities in order to comply with legal requirements. This, the institution believes, will address transparency and terrorism financing issues. The aforementioned steps are mandated by the Prevention of Money Laundering and Financing of Terrorism Law. It was passed by the Spanish parliament last year. Subsequently, this provision was included in Royal Decree-Law 7/2021. It gives a period of six

Only 22% of Bankers and Financial Investigators Feel Confident Detecting Crypto-Related Payments  

Source Node: https://ciphertrace.com/only-22-percent-of-bankers-feel-confident-detecting-crypto-related-payments/
Time Stamp: December 9, 2020 9:20 PM - Modified On: May 21, 2021 - Published By:
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Only 22% of Bankers and Financial Investigators Feel Confident Detecting Crypto-Related Payments   - CipherTrace skip to Main Content Home » Alert » Only 22% of Bankers and Financial Investigators Feel Confident Detecting Crypto-Related Payments   In a December 9 CipherTrace-ACFCS Webinar on “How Cryptocurrency Intelligence Tipped the Scales in 2020 Sanctions Evasion,” over 500 attendees from various Financial Institutions were asked if they felt confident detecting cryptocurrency related payments flowing through their institutions and/or investigations. Over three-quarters—78.2%—of attendees responded that they do not feel confident in detecting crypto-related payments

Slow But Steady: FATF Review Highlights Crypto Exchanges’ Struggle to Meet AML Standards

Source Node: https://cointelegraph.com/news/slow-but-steady-fatf-review-highlights-crypto-exchanges-struggle-to-meet-aml-standards
Time Stamp: August 8, 2020 9:00 AM - Modified On: May 21, 2021 - Published By:
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In June 2019, the intergovernmental Financial Action Task Force (FATF) introduced its revised set of standards for virtual asset service providers. The document establishes the anti-money laundering and counter-terrorism (AML/CFT) requirements that regulated VASPs —  the term mainly referring to cryptocurrency trading platforms — must eventually implement in their day-to-day operations. The guidelines are framed as recommendations, and the FATF leaves it to the participating nations’ governments to develop their own regulations in accordance with suggested principles.The watchdog has also set a 12-month review timeframe to monitor the public and