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Tag Archives: AML

International AML Task Force to Close “Gaps” Created by Virtual Currencies

The Financial Action Task Force (FATF), an intergovernmental organization founded in 1989 on the initiative of the G7 to combat anti-money laundering (AML), may be about to agree with a set of standards to apply to virtual currencies. President Marshall Billingslea is optimistic that the discussions scheduled for October will result in a revised AML methodology. Cryptocurrencies Force Governments to Revise ...

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AML BitCoin Announces Listing on HitBTC Exchange

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release. Bitcoin ...

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Thailand AML Watchdog Plans to Seize Bitcoin from Criminal Proceeds

Thailand’s anti-money laundering agency is considering sealing a loophole that has seen cybercriminals face every other consequence for their actions except have their digital assets confiscated. According to the secretary of Thailand’s Anti-Money Laundering Office (AMLO), Witthaya Neetitham, the government agency is planning on setting up its own cryptocurrency wallet for the purposes of tackling crime relating to bitcoin and ...

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G20 Nations Seek Cryptocurrency AML Regulation Standards by October 2018

The world’s biggest economies are now eyeing a definitive plan to apply anti-money laundering (AML) regulatory standards for the cryptocurrency sector by October this year. The Group of Twenty (G20) forum – a group of finance ministers and central bank governors from the EU and 19 of the world’s largest economies – has reiterated its intent to bring the cryptocurrency ...

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South Korean Financial Watchdog Releases Stricter AML Guidelines for Virtual Currencies

South Korea’s top financial regulator has released a set of revised anti-money laundering (AML) guidelines for virtual currencies, according to a press release published this week. The press release notes that the Financial Services Commission (FSC) conducted on-site inspections of three domestic banks – Nonghyup, Kookmin, and Hana Bank – the results of which prompted the update to AML guidelines. ...

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Tezos Foundation Announces Investor KYC and AML Procedure One Year After Raising Money

Even though it appears the Tezos team has successfully addressed most of the problems holding the project back, more controversy looms on the horizon. More specifically, the team has made it clear they will perform thorough KYC and AML checks for all investors. It’s a remarkable decision, considering that those users contributed nearly a year ago. More Worries for ...

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Financial Watchdog Probes Crypto Exchanges Over AML Compliance

Japan’s Financial Services Agency (FSA) has issued business improvement orders to multiple domestic crypto exchanges, Cointelegraph Japan reports today, June 1st. One of FSA’ main concerns is the exchanges’ compliance with anti-money-laundering (AML) requirements. The agency’s inspections revealed that several of the crypto exchanges under its aegis are failing to apply sufficient Know-Your-Customer (KYC) checks to confirm the identity of ...

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150 ICOs and STOs Adhere to KYC and AML Guidelines with the Help of IdentityMind Global – The Merkle

KYC and AML procedures play an increasingly important role in the world of cryptocurrency. This is especially true when dealing with initial coin offerings. IdentityMind has already processed 150 client requests in the past few months. It’s a very positive trend that will bring more legitimacy to the ICO industry moving forward. IdentityMind is on a Roll While the number ...

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EU Approves AML Legislation Targeting Anonymity In Crypto Market, Local Sources Report

The European Union approved new anti-money laundering (AML) legislation in part targeting in cryptocurrency today, May 14, local news outlets report. According to Spanish news outlet La Vanguardia, today the 28-member bloc formally ratified the new legislation, which the European Parliament had approved last month. The new rules will reportedly be published in the Official Journal of the EU and ...

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DMG Blockchain Solutions Launches BitScore AML Risk API for Crypto …

Vancouver-based blockchain and cryptocurrency firm DMG Blockchain Solutions Inc. has announced the official launch of its BitScore web API. The platform is designed to provide cryptocurrency deposit and withdrawal risk-scoring for both anti-money laundering (AML) and anti-fraud compliance. DMG Blockchain Solutions seeks to manage, operate and develop end-to-end solutions for monetizing the blockchain ecosystem, and BitScore is already being used ...

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