#anti-money-laundering

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#bangladesh

Bangladesh authorities seek Siddiq account details

Bangladesh's anti-money laundering agency is investigating Treasury minister Tulip Siddiq and family over alleged embezzlement linked to former PM Sheikh Hasina.

Regulators urged to examine UK business dealings with Bangladeshi ex-minister

UK MPs urge regulators to investigate potential corruption ties of former Bangladeshi minister Chowdhury in UK real estate dealings.

Investigators in Bangladesh demand Tulip Siddiq's bank account details

Bangladesh officials are investigating Tulip Siddiq and her family for possible involvement in money laundering connected to a nuclear power project.

Bangladesh authorities seek Siddiq account details

Bangladesh's anti-money laundering agency is investigating Treasury minister Tulip Siddiq and family over alleged embezzlement linked to former PM Sheikh Hasina.

Regulators urged to examine UK business dealings with Bangladeshi ex-minister

UK MPs urge regulators to investigate potential corruption ties of former Bangladeshi minister Chowdhury in UK real estate dealings.

Investigators in Bangladesh demand Tulip Siddiq's bank account details

Bangladesh officials are investigating Tulip Siddiq and her family for possible involvement in money laundering connected to a nuclear power project.
morebangladesh
#financial-crime

New Anti-Money Laundering Measures Pass a Legal Roadblock

The Corporate Transparency Act requires businesses to report ownership information to combat money laundering and increase corporate transparency.

Starling Bank fined 29m for shockingly lax' financial crime controls

Starling Bank was fined £29 million for insufficient financial crime controls, allowing risks of fraud and money laundering.

Starling Bank fined 29m for 'shockingly lax' financial crime controls

Starling Bank was fined £29 million for severe lapses in financial crime controls, jeopardizing the UK's financial integrity.
The bank's supervised growth did not include robust anti-money laundering systems, leading to compliance failures.

EU Banking Watchdog Extends Anti-Money Laundering Measures to Cover Crypto Firms

The European Banking Authority (EBA) has issued guidance for crypto firms to comply with anti-money laundering and terrorist-financing requirements.
The EBA aims to harmonize the approach of crypto asset service providers (CASP) across the EU in combatting financial crime.
The guidelines will apply from December 30, around the time when the legislation on transfer of funds via digital assets takes full effect.

New Anti-Money Laundering Measures Pass a Legal Roadblock

The Corporate Transparency Act requires businesses to report ownership information to combat money laundering and increase corporate transparency.

Starling Bank fined 29m for shockingly lax' financial crime controls

Starling Bank was fined £29 million for insufficient financial crime controls, allowing risks of fraud and money laundering.

Starling Bank fined 29m for 'shockingly lax' financial crime controls

Starling Bank was fined £29 million for severe lapses in financial crime controls, jeopardizing the UK's financial integrity.
The bank's supervised growth did not include robust anti-money laundering systems, leading to compliance failures.

EU Banking Watchdog Extends Anti-Money Laundering Measures to Cover Crypto Firms

The European Banking Authority (EBA) has issued guidance for crypto firms to comply with anti-money laundering and terrorist-financing requirements.
The EBA aims to harmonize the approach of crypto asset service providers (CASP) across the EU in combatting financial crime.
The guidelines will apply from December 30, around the time when the legislation on transfer of funds via digital assets takes full effect.
morefinancial-crime

Morning Docket: 12.05.24

The YSL trial proved to be irrelevant, reinforcing existing skepticism on legal procedures.
A nationwide injunction on anti-money laundering laws raises significant regulatory concerns.
Law firms are strategically recovering equity in changing market conditions.
Biden's presidency has beneficially impacted the financial state of law firms.

Lebanon added to money laundering grey list'

Lebanon is now on the FATF grey list, indicating increased monitoring of financial transactions due to its ongoing financial crisis.

Greece accuses 2 Catholic Church priests of nightclub money laundering

Seven people under investigation for embezzling €3 million from the Catholic Church, redirecting funds to nightlife investments over eight years.
#regulations

TD fined $3B US by U.S. regulators | CBC News

TD Bank faces $3.09 billion in fines due to failures in anti-money-laundering safeguards.
The bank received a cease-and-desist order limiting its U.S. growth.

What It Takes to Succeed in the AML Field: Essential Skills and Knowledge

A career in Anti-Money Laundering requires a deep understanding of regulations and strong analytical skills to combat financial malpractice.

TD fined $3B US by U.S. regulators | CBC News

TD Bank faces $3.09 billion in fines due to failures in anti-money-laundering safeguards.
The bank received a cease-and-desist order limiting its U.S. growth.

What It Takes to Succeed in the AML Field: Essential Skills and Knowledge

A career in Anti-Money Laundering requires a deep understanding of regulations and strong analytical skills to combat financial malpractice.
moreregulations
#fca

UK Regulator Says 87% of Crypto Registration Applications Failed to Meet Standards for Approval

Over 87% of crypto registrations in 2023-24 did not meet approval standards set by the FCA.

Starling Bank fined $39 million for 'facilitating financial crime' | TechCrunch

Starling Bank was fined £29 million for inadequate financial crime controls, leading to onboarding high-risk customers despite regulatory warnings.

UK Regulator Says 87% of Crypto Registration Applications Failed to Meet Standards for Approval

Over 87% of crypto registrations in 2023-24 did not meet approval standards set by the FCA.

Starling Bank fined $39 million for 'facilitating financial crime' | TechCrunch

Starling Bank was fined £29 million for inadequate financial crime controls, leading to onboarding high-risk customers despite regulatory warnings.
morefca
#financial-conduct-authority

Lack of City of London oversight hurting efforts to halt dirty money, FCA warns

Improper oversight of professional bodies in London is undermining efforts to combat money laundering.

NFT Providers May Need Registration to Comply With UK Money Laundering Rules

NFT providers in the UK may need to register with the Financial Conduct Authority for anti-money laundering purposes.
NFTs are likely to be outside the financial services regulation but may fall under anti-money laundering regulations.

Lack of City of London oversight hurting efforts to halt dirty money, FCA warns

Improper oversight of professional bodies in London is undermining efforts to combat money laundering.

NFT Providers May Need Registration to Comply With UK Money Laundering Rules

NFT providers in the UK may need to register with the Financial Conduct Authority for anti-money laundering purposes.
NFTs are likely to be outside the financial services regulation but may fall under anti-money laundering regulations.
morefinancial-conduct-authority
#binance

Binance CEO 'CZ' sentenced to four months in prison | TechCrunch

Changpeng Zhao, founder of Binance, sentenced to 4 months in prison for various violations including anti-money laundering and sanctions breaches.

Binance CEO Teng Rejects Allegations the Exchange Froze All Palestinians' Funds

Binance only blocked accounts linked to illicit funds, not all Palestinian assets, countering misinformation on social media.

Binance Fined $2.2M by India's Financial Intelligence Unit

Binance fined $2.2 million by India's Financial Intelligence Unit for violating anti-money laundering rules.

Binance Completes Registration With India's Financial Intelligence Unit Months After Being Fined

Binance has secured registration with India's Financial Intelligence Unit, highlighting its commitment to compliance and regulatory standards in the cryptocurrency space.

Binance CEO 'CZ' sentenced to four months in prison | TechCrunch

Changpeng Zhao, founder of Binance, sentenced to 4 months in prison for various violations including anti-money laundering and sanctions breaches.

Binance CEO Teng Rejects Allegations the Exchange Froze All Palestinians' Funds

Binance only blocked accounts linked to illicit funds, not all Palestinian assets, countering misinformation on social media.

Binance Fined $2.2M by India's Financial Intelligence Unit

Binance fined $2.2 million by India's Financial Intelligence Unit for violating anti-money laundering rules.

Binance Completes Registration With India's Financial Intelligence Unit Months After Being Fined

Binance has secured registration with India's Financial Intelligence Unit, highlighting its commitment to compliance and regulatory standards in the cryptocurrency space.
morebinance
#real-estate

U.S. Treasury announces final anti-money laundering rules for real estate agents

FinCEN's new rules extend anti-money laundering regulations to real estate agents and investment advisers to combat corruption and enhance market transparency.

The Morning Risk Report: Treasury Loosens Final Anti-Money-Laundering Rules for Investment Advisers, Real-Estate Agents

New regulations extend anti-money laundering measures to investment advisers and real estate professionals to combat financial crime.

U.S. Treasury announces final anti-money laundering rules for real estate agents

FinCEN's new rules extend anti-money laundering regulations to real estate agents and investment advisers to combat corruption and enhance market transparency.

The Morning Risk Report: Treasury Loosens Final Anti-Money-Laundering Rules for Investment Advisers, Real-Estate Agents

New regulations extend anti-money laundering measures to investment advisers and real estate professionals to combat financial crime.
morereal-estate

The Morning Risk Report: Las Vegas Strip Casino Accused of Hosting Criminals

Resorts World casino faces allegations of allowing illegal gambling involving organized crime, undermining anti-money-laundering efforts and damaging the gaming industry's reputation.

U.S. Treasury Says It Wants to Better Money Laundering Regulations Around Crypto, Other Illicit Finance

The U.S. Treasury Department emphasizes enhancing efforts in combating illicit financing through digital assets.
#crypto-regulation

Turkey Will Conclude Technical Studies for Crypto Legislation Soon: Finance Minister

Turkey is in the final stage of completing technical studies for forming crypto regulation.
The main goal of the regulation is to increase trust in the crypto asset area and eliminate potential risks.

EU Parliament Adopts Anti-Money Laundering Rules Package, Also Policing Crypto

The European Parliament approved anti-money laundering laws, enhancing due diligence and providing access to beneficial ownership information, affecting crypto firms and others.

Turkey Will Conclude Technical Studies for Crypto Legislation Soon: Finance Minister

Turkey is in the final stage of completing technical studies for forming crypto regulation.
The main goal of the regulation is to increase trust in the crypto asset area and eliminate potential risks.

EU Parliament Adopts Anti-Money Laundering Rules Package, Also Policing Crypto

The European Parliament approved anti-money laundering laws, enhancing due diligence and providing access to beneficial ownership information, affecting crypto firms and others.
morecrypto-regulation
#regulation

Crypto Industry Cautiously Welcomes Agreement on New EU AML Rules

The European Parliament and EU Council have reached a provisional deal on anti-money laundering rules for crypto.
Crypto industry participants are concerned that the rules are more stringent for crypto firms compared to traditional financial institutions.

Betting firm to pay more than 500,000 for failures in anti-money laundering

Bet365 fined over 500,000 for anti-money laundering failures
Denise Coates, UK's best paid woman, under scrutiny for company's regulatory breaches

Crypto Industry Cautiously Welcomes Agreement on New EU AML Rules

The European Parliament and EU Council have reached a provisional deal on anti-money laundering rules for crypto.
Crypto industry participants are concerned that the rules are more stringent for crypto firms compared to traditional financial institutions.

Betting firm to pay more than 500,000 for failures in anti-money laundering

Bet365 fined over 500,000 for anti-money laundering failures
Denise Coates, UK's best paid woman, under scrutiny for company's regulatory breaches
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KuCoin Withdrawals Spike to $1B in Crypto Amid U.S. Regulatory Clampdown

KuCoin saw $1 billion in withdrawals over 24 hours
Assets under management dropped 20% amidst U.S. charges
#european-union

Frankfurt to Host New EU Money Laundering Watchdog Tasked With Monitoring Crypto

The European Union is establishing a new Anti-Money Laundering Authority in Frankfurt to oversee crypto and financial issues.
The new authority aims to enforce compliance with anti-money laundering and counter-terrorist financing obligations in the EU.

EU Banking Watchdog Extends Anti-Money Laundering Measures to Cover Crypto Firms

The European Union's banking watchdog, the European Banking Authority (EBA), has issued guidance for crypto firms to comply with anti-money laundering and terrorist-financing requirements.
The EBA aims to harmonize the approach that crypto asset service providers (CASP) should adopt to combat financial crime.
The EBA has published guidelines on risk-based supervision of CASPs and is consulting on further guidance relating to internal policies and controls CASPs should have.

Frankfurt to Host New EU Money Laundering Watchdog Tasked With Monitoring Crypto

The European Union is establishing a new Anti-Money Laundering Authority in Frankfurt to oversee crypto and financial issues.
The new authority aims to enforce compliance with anti-money laundering and counter-terrorist financing obligations in the EU.

EU Banking Watchdog Extends Anti-Money Laundering Measures to Cover Crypto Firms

The European Union's banking watchdog, the European Banking Authority (EBA), has issued guidance for crypto firms to comply with anti-money laundering and terrorist-financing requirements.
The EBA aims to harmonize the approach that crypto asset service providers (CASP) should adopt to combat financial crime.
The EBA has published guidelines on risk-based supervision of CASPs and is consulting on further guidance relating to internal policies and controls CASPs should have.
moreeuropean-union

The Morning Risk Report: ICBC Fined $32 Million by New York's Financial Regulator and Fed for Compliance Failures

ICBC will pay $32 million to resolve investigations into compliance problems at its New York branch.
The fines are related to deficiencies in anti-money laundering and compliance programs, as well as unauthorized use of confidential supervisory information.

Google pulls Binance, other global crypto apps from India store | TechCrunch

Google has removed several crypto exchanges, including Binance and Kraken, from its Play Store in India due to alleged non-compliance with anti-money laundering rules.
This ban comes after Apple pulled the apps earlier this week and ISPs in India started blocking the URLs of the crypto exchange websites.

Singapore Says It Has Seized $4.4 Billion in Dirty Money Since 2019

Singapore seized $4.4 billion in illicit assets, returning $416 million to victims and forfeiting $1 billion to the state.
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