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AML Compliance

AML Transaction Monitoring

Anti-money laundering transaction monitoring, also called AML transaction monitoring, allows banks and other financial institutions to monitor customer transactions on a daily basis or in real-time for risk. By combining this information with analysis of customers’ historical information and account […]

South Korea cryptocurrency regulation

Is Cryptocurrency Legal in South Korea? Cryptocurrencies: Not legal tender Cryptocurrency exchanges: Legal, must register with FSS Currently, South Korea cryptocurrency regulation means that crypto is not considered legal tender. Exchanges, while legal, are part of a closely-monitored regulatory system. […]

Switzerland Cryptocurrency Regulation

Is Cryptocurrency Legal in Switzerland? Cryptocurrencies: Legal, accepted as payment in some contexts Cryptocurrency exchanges: Legal, regulated by SFTA and FINMA In Switzerland crypto and virtual currencies are classified as assets or property. Exchanges are legal and, depending on the […]

Japan cryptocurrency

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 cryptocurrency

Is Cryptocurrency Legal In Singapore? Cryptocurrencies: Not legal tender Cryptocurrency exchanges: Legal, registration with the Monetary Authority of Singapore required In Singapore, cryptocurrency exchanges and trading are legal and the city-state has taken a friendlier position on the issue than […]

Cryptocurrency Canada regulations

Is Cryptocurrency Legal in Canada? Cryptocurrencies: Not legal tender Cryptocurrency exchanges: Legal, required to register with FinTRAC after June 1, 2020 In Canada cryptocurrency is not legal tender but can be used to buy goods and services online or in […]

Cryptocurrency Regulations US

Is Cryptocurrency Legal in the US? Cryptocurrencies: Not considered legal tender Cryptocurrency exchanges: Legal, regulation varies by state While it is difficult to find a consistent legal approach at the state level, the US continues to progress in developing federal […]

Anti money laundering software

According to UNODC, 2-5% of the global GDP is laundered annually. That equates to between $800 billion-$2 trillion. With the odds of catching bad actors against us, imagine having to detect money laundering without the help of technology. Lots of […]

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 […]

MLRO Money Laundering Reporting Officers

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 […]

BSA Officer

What is a Bank Secrecy Act Officer? The Bank Secrecy Act (BSA) Officer is the person responsible for ensuring compliance with the Bank Secrecy Act of 1970, that aims to prevent and detect money laundering and other financial crimes. The […]

AML Compliance Program

What is an AML Compliance Program? In order to combat financial crime, banks, credit unions, and a variety of other financial institutions across the world, are required to develop and put in place Anti-Money Laundering (AML) Compliance Programs. An anti-money […]