AML News

Anti-money laundering or AML is a set of regulations, instructions, laws and procedures, established to prevent the practice of generating illegal income and its legalization through specially designed actions. AML regulations oblige companies and financial institutions to vet their customers through due-diligence procedures and prove the legal source of a customer’s assets. Financial institutions must verify the origin of large sums of money, track suspicious activities and report large cash transactions. It’s also the responsibility of institutions to notify customers about AML practices and required procedures. AML is considered to be not only useful in stopping money laundering itself, but also in preventing illegal activities by discovering the source of this money, and helps to trace criminals through the tracking of financial flows. Still, AML is a strain on companies and may cause its development to slow down.

Analysis
As the 5AMLD is signed into law, turbulent times lie ahead for the crypto industry, experts discuss the changes.
New EU AML Compliance Laws Could Disrupt the Crypto Industry
Joseph Birch
2020-01-18T02:02:00+00:00
4500
News
Binance and Huobi received over 52% of total $2.8 billion in illicit Bitcoin transfers in 2019, according to a new Chainalysis report.
Research: Binance and Huobi Received Over 52% of Total $2.8B Illicit BTC in 2019
Helen Partz
2020-01-16T17:44:00+00:00
4286
News
The House Financial Services Committee raised concerns over the use of crypto to fund domestic terrorism in the United States in a recent hearing.
US Congress Looks at Role of Crypto and Internet in Funding Hate Crimes
Helen Partz
2020-01-15T19:19:00+00:00
2795
News
5AMLD comes into effect on Jan. 10, and cryptocurrency service providers are required to go along with it.
What The 5th Anti-Money Laundering Directive Means For Crypto Businesses
Rachel Wolfson
2020-01-10T17:20:00+00:00
5182
News
Britain’s Financial Conduct Authority now monitors anti-money laundering and counter terrorism financing for companies carrying out cryptocurrency-related activ...
UK Financial Watchdog FCA Now Supervises AML/CTF Compliance of Crypto Businesses
Ana Alexandre
2020-01-10T17:15:00+00:00
2299
New Year Special
What did 2019 bring by way of privacy coins in criminality, how have things changed, and what is the 2020 outlook?
Privacy Coins in 2019: True Financial Freedom or a Criminal's Delight?
Will Heasman
2020-01-02T03:30:00+00:00
4540
New Year Special
Has 2019 lived up to the expectations of the crypto community and those working in the industry, and what are the biggest disappointments?
Did 2019 Deliver on All That Was Promised for the Crypto Industry?
Andrew Singer
2019-12-30T02:53:00+00:00
3993
News
New legislation called 5AMLD places crypto firmly under the EU’s regulatory umbrella.
Crypto Regulation Is Coming To Europe: Are Exchanges Ready for New Rules?
Darren Kleine
2019-12-18T07:47:00+00:00
6241

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