Tagged: terrorism financing

July 7, 2022 @ 8:07 am By Omar Faridi  |  

HM Treasury had introduced a consultation in July of last year, entitled “Amendments to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 Statutory Instrument 2022.” This consultation outlined how the UK Government intended “to amend the UK’s Money… Read More

July 8, 2021 @ 10:03 am By Omar Faridi  |  

Israel’s National Bureau for Counter Terror Financing (NBCTF) has shared information on the “seizure” of virtual currency held by several different crypto wallets that are believed to be associated with donation campaigns “carried out by Hamas.” As noted in a report from Chainalysis, the seizure… Read More

May 2, 2021 @ 4:44 pm By Omar Faridi  |  

Turkey has reportedly decided to add digital currency trading platforms to its list of companies that will come under the nation’s anti-money laundering (AML) and terrorism financing regulations. This, according to a presidential decree that was released on Saturday (May 1, 2021). The Official Gazette… Read More

January 26, 2021 @ 9:02 pm By Omar Faridi  |  

Blockchain security firm CipherTrace notes that during her confirmation hearing on January 19, Dr. Janet Yellen, US President Joe Biden’s pick for Secretary of the Treasury, had said that “many” virtual currencies remain “a particular concern” when it comes to terrorism and criminal financing (and… Read More

January 6, 2021 @ 9:04 pm By Omar Faridi  |  

Singapore-based Silent Eight, a Regtech firm that leverages AI to prevent money laundering and terrorism financing activities, has revealed that it has agreed to a multi-year partnership with HSBC which aims to assist the bank with improving its compliance measures and related operations. HSBC chose… Read More

September 15, 2020 @ 8:22 am By Omar Faridi  |  

The Financial Action Task Force (FATF), an intergovernmental organization that develops policies to combat money laundering and terrorism financing, has released an updated report, titled, Virtual Assets Red Flag Indicators of Money Laundering and Terrorist Financing. Published on September 14, 2020, the report notes that… Read More

September 14, 2020 @ 9:02 am By Omar Faridi  |  

Current Financial Crimes Enforcement Network (FinCEN) regulations state that it’s the responsibility of all financial service providers to accurately and promptly identify and report any suspicious or potentially fraudulent activity. This activity may be related to how criminals or bad actors exploit convertible virtual currencies… Read More

November 18, 2019 @ 5:59 pm By Omar Faridi  |  

Peer-to-peer (P2P) bitcoin exchange LocalBitcoins has registered with the Finnish Financial Supervisory Authority, FIN-FSA, the financial regulatory authority of the Finnish government. Earlier this month, Crowdfund Insider reported that five different virtual asset service providers (VASPs) had been approved and LocalBitcoins was in the mix… Read More