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 Israeli government is now reportedly in the process of reviewing several crypto firms to issue operating licenses.
Israel reportedly adopts new AML rules for crypto
Helen Partz
2021-11-16T10:27:17+00:00
5465
News
Civic’s Ignite Pass aims to combat bots targeting NFT drops on the Solana network by verifying video-based selfies using artificial intelligence.
Civic launches free tool to combat NFT-hungry bots on Solana
Brian Quarmby
2021-11-09T03:16:06+00:00
6287
Newsletter
U.S. financial regulators are close to working out the limits of their authority over at least one class of digital assets.
Law Decoded: Sketching the boundaries of regulatory mandates, Oct. 25 – Nov. 1
Kirill Bryanov
2021-11-01T17:00:00+00:00
1522
News
Launched in production in 2020, Notabene’s Travel Rule solution now processes transactions among 50 crypto exchanges.
Crypto exchange Bitfinex testing new AML compliance tool
Helen Partz
2021-10-28T13:33:00+01:00
2009
News
All individuals and institutions in the country, including banks, will have to sign up using the new AML registry from the Bank of Spain.
Bank of Spain issues registration guidelines for crypto services
Helen Partz
2021-10-26T17:00:00+01:00
4033
Expert Take
U.S. regulators are looking at crypto-related areas, touching on financial regulation, economic innovation and national security.
Crypto in the crosshairs: US regulators eye the cryptocurrency sector
Selva Ozelli
2021-10-24T19:21:00+01:00
10798
Analysis
As the crypto industry continues to develop at a rapid pace, so do the ransomware attacks, but regulators now seem ready to step in.
Crypto adoption in sights: Regulators and industry join to fight ransomware
Shiraz Jagati
2021-10-14T17:21:00+01:00
2076
News
The blockchain analytics firm have amassed data points on 98% of the market's digital assets.
Elliptic raises $60M to advance crypto analytics service
Tom Farren
2021-10-11T21:00:00+01:00
5705

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