A Guide to Anti-Money Laundering for Crypto Firms

Latest News

CDD in banking

In order to meet the demands of AML/CFT regulations, banks must implement suitable Know Your Customer (KYC) measures in order to understand who their customers are, and the nature of the business in which they are involved. With that requirement […]

Money laundering Switzerland

Switzerland is one of the wealthiest countries in the world, with a highly developed economy and a GDP of over $800 billion. Switzerland’s financial profile is built on its banking industry which has had a reputation for secrecy and confidentiality […]

The volume of cryptocurrency transactions grew to $15.8trn in 2021, up 567% from 2020, another sign that the trading of digital assets is becoming increasingly mainstream.  Highlights from a new report from blockchain data platform Chainalysis show illicit crypto transactions […]

President Biden has signed the Uyghur Forced Labor Prevention Act (UFLPA) into law, requiring importers from the Xinjiang province to provide “clear and convincing evidence, that the good, ware, article, or merchandise was not mined, produced, or manufactured wholly or […]

The European Commission has fined five major European banks a total of €344m as part of a long-running investigation into the foreign exchange (Forex) spot trading market.  The Commission’s investigation focused on the trading of G10 currencies – the most […]

The US real estate market faces increasing regulatory scrutiny, with Treasury regulator FinCEN calling for public comment on its plans to root out money laundering and corruption in the sector, particularly through all-cash deals.  The advance notice of proposed rulemaking […]

UK regulator the Financial Conduct Authority (FCA) has made public its threatened enforcement action against an interdealer broker that has failed to exercise due skill, care, and diligence in its anti-money laundering (AML) policies and procedures. The firm’s “serious failings” […]

A former Miami professor and expert on drug cartels and corruption has been sentenced to six months in prison for money laundering crimes totaling around $2.5m.  In 2020 Professor Bruce Bagley, now 75, pleaded guilty to two counts of money […]

What is a global watch list?

Financial sanctions are an important tool in the global fight against financial crime. Governments around the world use sanctions to restrict and prohibit trade with foreign targets as a means to achieve political objectives or punish violations of international law […]

Pandora paper leak

In October 2021 the International Consortium of Investigative Journalists (ICIJ) published the results of an explosive investigation known as the Pandora Papers More than 600 journalists from across 117 countries including from the BBC, The Washington Post, and The Guardian, […]

EU AMLA money laundering

The European Union’s (EU) long-term goal of a pan-European anti-money laundering (AML) program, is moving closer, with the creation of a central EU authority to combat money laundering. The EU Anti-Money Laundering Authority (AMLA) will monitor, support, and coordinate the […]