#terrorist financing

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Coindesk
4 months ago
EU data protection

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. [ more ]
Coindesk
4 months ago
EU data protection

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. [ more ]
www.cbc.ca
5 months ago
Canada news

CIBC fined $1.3M for failing to comply with money laundering and terrorist financing rules | CBC News

Canada's financial intelligence agency, Fintrac, has imposed a $1.3 million penalty on CIBC for non-compliance with money laundering and terrorist financing measures.
This comes after RBC received a $7.4 million fine for similar non-compliance issues. [ more ]
www.cbc.ca
5 months ago
Canada news

RBC handed $7.4M penalty from financial intelligence agency | CBC News

The Financial Transactions and Reports Analysis Centre of Canada (Fintrac) has imposed a $7.4-million penalty on the Royal Bank of Canada (RBC) for non-compliance with anti-money laundering and terrorist financing measures.
RBC failed to submit 16 suspicious transaction reports, out of 130 case files reviewed by Fintrac, where there were reasonable grounds to suspect ties to a money laundering offense. [ more ]
www.nytimes.com
5 months ago
US politics

Congress Passed a Money Laundering Law. Interest Groups Are Still Fighting It.

The implementation of a law can be a lengthy process that involves lobbying, litigation, and revisions that can reshape the original legislation.
The Corporate Transparency Act, which aims to combat money laundering and terrorist financing, is facing opposition from interest groups and small business organizations who argue that it would burden millions of small businesses. [ more ]
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