AML News

Money laundering means taking certain steps to make illegal earnings look as if they were earned legally. What is AML? Anti-Money Laundering regulations generally put parameters and requirements in place in an effort to make such activities more difficult and to ward off such behaviors. In line with AML regulation compliance, companies and financial institutions must vet their customers through due-diligence procedures and prove the legal source of a customer’s assets. Such due-diligence measures include requiring money movements larger than a certain threshold to be recorded and disclosed to applicable agencies. While they are not the same as AML, KYC laws — or Known Your Customer laws — are commonly grouped together with it.

It is the responsibility of companies to notify customers about Anti-Money Laundering practices and required procedures. AML is not only considered useful in fighting money laundering itself, but it also helps prevent illegal activities by discovering the source of this money and assists by following criminals through the tracking of financial flows. AML, however, can be a strain on companies.

News
The Russian central bank is planning to slow down payments to crypto exchanges and combat suspicious crypto activity.
Bank of Russia wants to block ‘emotional’ and suspicious crypto activity
Helen Partz
2021-09-15T13:48:05+01:00
3557
News
Bithumb’s stricter KYC requirements come in line with South Korea’s tightened Anti-Money Laundering regulations regarding foreign users of crypto exchanges.
Bithumb crypto exchange reportedly bans foreigners without mobile KYC
Arijit Sarkar
2021-09-03T10:03:34+01:00
2819
Opinion
A decentralized exchange reckoning is coming — and it’s bigger than the infrastructure bill — thus, the DeFi community must be ready.
The new episode of crypto regulation: The Empire Strikes Back
Mark Lurie
2021-08-27T14:27:00+01:00
6392
News
“Many BTM operators feel that merely asking for a cell phone number is enough due diligence to absolve them of their mandated KYC requirements,” a Coinsource ex...
Bitcoin ATM operators set up association to counter money laundering
Helen Partz
2021-08-26T12:37:04+01:00
5136
News
Coinfirm said it would be able to provide the same AML/CFT analytics for assets minted on Cardano, a number that may grow as the project prepares to expand to s...
Cardano Foundation partners with Coinfirm for FATF and 6AMLD compliance
Turner Wright
2021-08-25T21:30:02+01:00
16003
Opinion
The rise of DeFi improves financial inclusion and should be allowed to flourish in a regulated, and thus protected, environment.
DeFi regulation must not kill the values behind decentralization
Christopher Harding
2021-08-22T14:17:00+01:00
7197
Opinion
Changing an intelligence agency's perspective on crypto crime is the next step toward a successful crypto investigation.
Digital intelligence must overcome challenges to solving crypto crimes
Leeor Ben-Peretz
2021-08-20T14:42:00+01:00
1794
News
The crypto exchange will limit services for existing users unless they adhere to the new KYC and AML requirements.
All Binance users are now subject to immediate KYC verification
Arijit Sarkar
2021-08-20T09:54:01+01:00
43410

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