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 […]
Singapore has a well-earned reputation as a global center for leading-edge financial services, with its regulatory model praised for its innovation-friendly outlook. This includes the virtual asset industry: the Singaporean crypto market is expected to attract 4.19 million users by […]
As the second-largest economy in North America, Canada is an important financial center on the global stage – and its crypto market is no exception. The country is expected to have 12.95 million cryptocurrency users by 2028, according to Moonpay, […]
Cryptocurrencies and virtual assets (VAs) continue to go from strength to strength in the US. Fuelled in part by the announcement of a US strategic crypto reserve, activity and innovation are strong in the sector, building on a longer-term trend […]
The United Nations Office on Drugs and Crime (UNODC) estimates that two to five percent of global GDP is laundered annually – equating to between €715 billion and €1.87 trillion each year. As technology advances, so do the avenues through […]
Know your customer (KYC) is the process financial institutions (FIs) use to verify their customers’ identities and inform compliance risk assessments. KYC is a foundation of anti-money laundering and countering the financing of terrorism (AML/CFT) compliance in jurisdictions worldwide. Given […]
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 […]
A Bank Secrecy Act (BSA) Officer is the person responsible for ensuring compliance with the Bank Secrecy Act of 1970, which aims to prevent and detect money laundering and other financial crimes. The Bank Secrecy Act is administered by the […]
An AML compliance program is a set of regulations and procedures that FIs follow to detect and prevent money laundering and associated crimes, including fraud, tax evasion, and terrorist financing. Financial institutions (FIs), such as banks, credit unions, and capital […]
An anti-money laundering (AML) compliance officer is a professional appointed by an organization to ensure it meets its regulatory obligations. Compliance officers achieve this by developing and implementing effective AML compliance programs to mitigate their firm’s risks relating to money […]
In order to carry out its duties, the Office of Foreign Assets Control (OFAC) produces the Specially Designated Nationals and Blocked Persons list – also known as the OFAC SDN list. The OFAC SDN list represents an essential tool in […]
When people talk about conducting KYC checks, they’re probably referring to the process that takes place at onboarding, i.e. identifying your customer and verifying that identity. But the problem for most businesses, is that a quick identity check isn’t going […]
