On December 14, the Financial Crimes Enforcement Network (“FinCEN”) issued a request for information (“RFI”), seeking comment on ways to “streamline, modernize, and update” the anti-money laundering (“AML”) and...more
Fourth and Final Post in a Series on the FATF Plenary Outcomes -
As we have previously blogged, the Financial Action Task Force (“FATF”) held its fourth Plenary on June 21-25, inviting delegates from around the world to...more
Australia announced on April 11 that all digital currency exchanges operating in the country will be regulated by the Transaction Reports and Analysis Centre (“AUSTRAC”), the country’s financial intelligence agency. ...more
4/12/2018
/ AML/CFT ,
AUSTRAC ,
Australia ,
Bitcoin ,
Cryptocurrency ,
Currency Exchange ,
Digital Currency ,
Regulatory Oversight ,
Regulatory Standards ,
Reporting Requirements ,
Virtual Currency
We previously have observed that financial institutions face an increasing risk that alleged Anti-Money Laundering (“AML”) and Counter-Terrorism Financing (“CTF”) violations will lead to follow-on allegations of securities...more
The Supreme Court granted certiorari on April 3 to decide whether Jordan-based Arab Bank may be liable for claims including allegations that its New York branch processed transactions for known terrorists. While the central...more
Banks stand to advance the fight against human trafficking and modern slavery by reporting suspicious transactions and other financial activity that raise red flags, according to a report on March 15, 2017. Published by the...more
Despite the staggering $8 billion figure estimated to be spent on global compliance in 2017, U.S.-based rules regarding Anti-Money Laundering (“AML”) and Combating the Financing of Terrorism (“CFT”) remain anchored in their...more
2/22/2017
/ AML/CFT ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Bitcoin ,
Blockchain ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Financial Institutions ,
Money Laundering ,
Technology ,
Terrorism Funding ,
Terrorist Financing ,
Terrorist Financing Regulations ,
Virtual Currency