Thursday, June 30, 2022

Technology

FinCEN Lays Down a New Marker in Cryptocurrency Anti-Money Laundering Enforcement

The Financial Crimes Enforcement Network (“FinCEN”) has taken relatively few enforcement actions involving virtual currency since it issued guidance in 2013 clarifying that virtual currency is subject to the same anti-money laundering (“AML”) requirements under the Bank Secrecy Act...

Amiqus and Scotland’s accountancy trade body (ICAS) team up to tackle money laundering

Identity software company Amiqus has secured a partnership with Scotland’s accountancy trade body to provide money-laundering protection to its members. Edinburgh-based Amiqus will work with the Institute of Chartered Accountants of Scotland (ICAS) to encourage its members to take their compliance...

US Authorities Unearth a New $2.3 Million Money Laundering Scam in Crypto

A money laundering scam using cryptocurrencies was recently unveiled by the US authorities in Manhattan. The suspects were involved in drug dealing and large scale ATM withdrawals. The office of Manhattan District Attorney released a report recently confirming that it had uncovered...

Maximizer Software I : New Reports Says QuadrigaCX Is Linked Directly to Money Laundering Activity with Liberty Reserve

The QuadrigaCX case may have been recommended for bankruptcy proceedings, but it looks like there is still much left to their tale to unfold. To give a little background for anyone that has not followed along so far, the...

Proprietary Phonetic Fingerprint Technology To Fight Money Laundering Launches In The UK

To help UK financial institutions and businesses stamp out money laundering activities, remain compliant with legislation, and improve efficiencies, Israeli fintech start-up, FinCom.Co, today announces the launch of its services in the UK through the London Stock Exchange’s Issuer Services Marketplace. Developed for highly regulated...

NICE Actimize Selected by IDB Bank NY to Innovate Anti-Money Laundering Compliance and Investigation Management Using Advanced AI

NICE Actimize, a business and the leader in Autonomous Financial Crime Management, has been selected by Israel Discount Bank of New York (IDB Bank), a New York State-chartered commercial bank, to spearhead improvements within its financial crime operations with...

The NextGen Technologies That Could Save Financial Institutions Billions

An increasing number of European banks and their supervisory authorities are being drawn into money laundering allegations. According to the Organised Crime and Corruption Reporting Project (OCCRP) the latest allegations on ‘Troika Laundromat’ involved the use of a complex network...

Binance partners with CipherTrace to enhance anti-money laundering compliance

Binance announced a partnership with CipherTrace, a blockchain security company, with the aim of enhancing the exchange’s anti-money laundering (AML) compliance program. CipherTrace , a blockchain security company, is teaming up with Binance in order to help the exchange enhance...

Jaravijit siblings plead not guilty to $24 million bitcoin theft

According to the Bangkok Post, the three Jaravijit siblings that are accused of money laundering chargers – Prinya, Supitcha, and Jiratpisit – have decided to plead “not guilty.” The trio appeared in Criminal Court last week, charged with collusion and conspiracy...

How Peer-to-Peer Crypto-Exchanges is A Haven for Money Laundering

Buyers and sellers can exchange cash in person, transfer bank funds online or can exchange funds for prepaid cards, gift cards or other cryptocurrencies. The need to launder money is omnipresent in the criminal world, and lately, a new way...

Latest News