Is cryptocurrency in Japan legal Cryptocurrencies: Legal, treated as property Cryptocurrency exchanges: Legal, must register with the Financial Services Agency Japan currently has the world’s most progressive regulatory climate for cryptocurrencies and recognizes Bitcoin and other digital currencies as legal […]
Is Cryptocurrency Legal In Singapore? Cryptocurrencies: Not legal tender Cryptocurrency exchanges: Legal, registration with the Monetary Authority of Singapore required In Singapore, cryptocurrency exchanges and trading are legal and the city-state has taken a friendlier position on the issue than […]
Is Cryptocurrency Legal in Canada? Cryptocurrencies: Not legal tender Cryptocurrency exchanges: Legal, required to register with FinTRAC after June 1, 2020 In Canada cryptocurrency is not legal tender but can be used to buy goods and services online or in […]
Is Cryptocurrency Legal in the US? Cryptocurrencies: Not considered legal tender Cryptocurrency exchanges: Legal, regulation varies by state While it is difficult to find a consistent legal approach at the state level, the US continues to progress in developing federal […]
According to UNODC, 2-5% of the global GDP is laundered annually. That equates to between $800 billion-$2 trillion. With the odds of catching bad actors against us, imagine having to detect money laundering without the help of technology. Lots of […]
The Know Your Customer (KYC) process refers to the need for businesses to understand who their customers are and what kind of financial activity they are involved in. KYC is a foundation of AML/CFT compliance in jurisdictions all over the […]
A Money Laundering Reporting Officer (MLRO) is a person responsible for implementing and overseeing a company’s anti-money laundering (AML) compliance program. The duties of the MLRO may involve serious legal consequences that result in civil and criminal action. Money Laundering […]
What is a BSA Officer? A Bank Secrecy Officer, also known as a BSA Officer, works within a bank, credit union, or similar financial institution, to ensure compliance with laws and regulations pertaining to the United States’ Bank Secrecy Act. […]
What is an AML Compliance Program? In order to combat financial crime, banks, credit unions, and a variety of other financial institutions across the world, are required to develop and put in place Anti-Money Laundering (AML) Compliance Programs. An anti-money […]
What is an AML Officer? In order to oversee internal anti-money laundering policies and remain compliant with important regulations, banks, credit unions, and similar financial institutions are required to appoint an Anti-Money Laundering Compliance Officer. As part of the fight […]
Adverse media or negative news is defined as any kind of unfavorable information found across a wide variety of news sources – both ‘traditional’ news outlets and those from unstructured sources. The risks associated with conducting business with persons or […]
USA AML Fines 2008 – 2016: Common and recurring themes: The 20 point checklist By Anu Ratan, Senior Global FCC/AML Policy and Advisory | [email protected] published on: https://uk.linkedin.com/in/anuratan. Reprinted with kind permission. The list below is a summary of my analysis of […]
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