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.

“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
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
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
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
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
Former IRS supervisor Greg Monahan replaces Karen Leong as the global money laundering reporting officer of Binance.
Former US Treasury official joins Binance to lead AML efforts
Erhan Kahraman
The decentralized industry has to spend additional resources to raise its standards and implement cybersecurity best practices.
Outwitting crypto criminals: Why exchanges have to go the extra mile
Mark Taylor
Expert Take
Any overseas activity outside Korea that has domestic effects or consequences shall be subject to the amended crypto regulation.
South Korea’s crypto regulation is now expanding to foreign businesses
Chloe Lee

Follow us on Facebook