The Financial Action Task Force (FATF) has published its finalised guidance on virtual currencies, putting the same standards on crypto exchanges and wallets as currently exist for more traditional...
On June 19, 2019, the Financial Supervisory Authority published the principles for determining penalties and fines. When determining the changes to the principles published in 2015, the regulator...
On March 27, 2019, the Malta Financial Services Authority (MFSA) launched, in cooperation with the Financial Intelligence Analysis Unit (FIAU), a public consultation regarding guidance for credit...
Facebook has finally pulled back the curtain on the worst-kept secret in Silicon Valley: a global peer-to-peer and retail payment system that seeks to plant the use of cryptocurrencies firmly in...
On June 18, 2019, the Law Commission published a report on the suspicious activity reporting (SARs) regime, which lays out the commission's recommendations on improving the UK's anti-money...
A long-awaited review into the UK’s beleaguered suspicious activity reporting regime has recommended that the government issue a definitive guidance document to help stem the flow of superfluous...
On April 15, 2019, HM Treasury released a consultation paper on the transposition of the 5th Anti-Money Laundering Directive (5th AMLD), by means of which it seeks feedback from all stakeholders in...
The head of the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) has reiterated a call for beneficial ownership reforms to close “a dangerous gap” in the nation’s national security...
Australia’s financial intelligence unit has ordered the doyen of the country’s payments industry to hire an external auditor to comb through its entire anti-money laundering (AML) compliance...
On June 13, 2019, the Financial Security Committee (CSF) published an updated national risk assessment on the risks of money laundering and terrorist financing....
On June 12, 2019, the House of Commons Foreign Affairs Committee published a report on the UK’s sanctions policy. The report outlines an urgency for the government to take action to ensure the UK...
Virtual currencies pose a high money laundering and terrorist financing risk to Latvia and the absence of regulation is compounding the danger, a review by the country’s financial intelligence unit...
On June 10, 2019, the Reserve Bank of India (RBI) published instructions (RBI/2018-19/206 DBR.LEG.BC.No.47/09.07.005/2018-19) introducing certain changes to the facilities associated with the Basic...
On June 10, 2019, a group of senators — Tom Cotton (R-Arkansas), Mark R. Warner (D-Virginia), Doug Jones (D-Alabama), and Mike Rounds (R-South Dakota) — introduced a draft bill, the Improving...
On June 11, 2019, the Financial Supervisory Authority (Finansinspektionen) published the latest national risk assessment of money laundering, drafted by 16 authorities coordinating in the country,...
Western Union has agreed to a fine over allegations it violated U.S. sanctions by processing transactions to a recipient entity in the Gambia that was deemed to have ties to terrorism funding.

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