PYMNTS

JANUARY 29, 2019

He also deposited 230 bitcoins ($1.8 million) onto another cryptocurrency exchange and tried to withdraw the money through a bitcoin ATM. In other news, bitcoin prices fell again on Monday (Jan. 28) to $3,443, its lowest level since mid-December. It got sold off with the rest of the market,” he said, according to MarketWatch.

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Digital Currency Bitcoin AML Cryptocurrency 67

Fintech Review

APRIL 17, 2025

Nashville, Tennessee, April 17th, 2025, FinanceWire Magnolia Financial , the Bitcoin-native financial services company focused on simplifying onramp and custody for Bitcoin businesses, today announced its partnership with Amboss Technologies. It was the clear choice.”

Compliance 52

Compliance Technology Bitcoin Money Laundering 52

Payments Source

JULY 26, 2016

Bitcoin is property, not money, a Florida judge ruled Monday in a criminal case against a man accused of money laundering and unlicensed money transmission.

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Bitcoin Money Laundering AML Rules 63

PYMNTS

JUNE 22, 2020

New Zealand police have frozen $90 million they say belongs to alleged bitcoin scammer Alexander Vinnik in what’s being called the country’s largest money seizure ever. Gox, the bitcoin exchange based in Japan. In 2017, Vinnik was arrested while on vacation in Greece at the request of U.S. authorities, AP reported.

Bitcoin 72

Bitcoin Money Laundering Crime Financial Crimes 72

PYMNTS

JUNE 9, 2019

“While crypto assets do not pose a threat to global financial stability at this point, we remain vigilant to risks, including those related to consumer and investor protection, anti-money laundering (AML) and countering the financing of terrorism (CFT),” said the joint statement, according to Coin Telegraph.

Bitcoin 72

Bitcoin ATM Risk Regulations 72

Fintech News

JULY 17, 2024

This decrease suggests that the anti-money laundering (AML) programmes of centralised exchanges are becoming more effective at detecting and mitigating laundering activity. In 2024, the top 100 bitcoin consolidation wallets received £968 million worth of bitcoin from over 14,970 distinct addresses.

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Money Laundering Law Enforcement AML Non-Bank 107

PYMNTS

MAY 6, 2020

Irish bitcoin ATM operator Boinnex found itself facing roadblocks from Allied Irish Banks (AIB), which shut down its account and said it didn’t want to deal with an unregulated form like cryptocurrency, according to CoinDesk.

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Bitcoin Cryptocurrency AML Money Laundering 70

PYMNTS

NOVEMBER 26, 2019

Ramaswamy was most recently the head of enterprise risk management at Capital One, and was also previously the managing director and global head of AML compliance risk management at Bank of America. And Bitstop has announced a partnership with Simon Malls to bring a fleet of Bitcoin ATMs to various shopping destinations.

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Bitcoin ATM Money Laundering Blocks 56

Payments Source

JULY 27, 2017

The fine for BTC-e was the Treasury’s first action against a money-services business located in a foreign country, and the second against a virtual currency exchange.

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AML Bitcoin Fincen Technology 65

Fintech Finance

SEPTEMBER 12, 2024

A recent report revealed that one in five Australian adults currently or previously owned crypto assets, and the country launched its first Bitcoin ETF in June. As a registered company, MoonPay will comply with Australia’s AML/CTF Act , the main piece of government legislation that regulates AUSTRAC’s functions.

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Alternative Payment Methods Digital Currency AML Bitcoin 98

PYMNTS

JANUARY 6, 2019

And while crypto companies are working to strengthen their anti-money laundering (AML) protections, a Cointelegraph report shows that many of the world’s biggest banks still have a lot of work to do. Financial Industry Regulatory Authority (FINRA) doled out a $10 million fine to Morgan Stanley for failing to comply with AML legislation.

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Stablecoins Blockchain Finance AML 64

PYMNTS

OCTOBER 11, 2018

The People’s Bank of China has announced new anti-money laundering (AML) and counter-terrorism financing regulations for online financial institutions (FIs). The report comes after a group of Icelandic thieves recently stole 600 computers used to “mine” bitcoin in what local law enforcement called the biggest theft in the nation’s history.

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Central Bank AML Money Laundering Regulations 43

PYMNTS

DECEMBER 18, 2019

Like Libra , which has yet to be launched, Saga attempts to smooth over the issues with bitcoin, such as reducing the wild price swings and anonymity that have plagued the world’s biggest cryptocurrency. However, unlike Libra, Saga started from scratch, without the 5.4

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AML Checks Federal Reserve Cryptocurrency 52

PYMNTS

JULY 12, 2019

Bloomberg reported that during a case regarding a gang that used bitcoin ATMs as a front for illegal drug payments, authorities discovered that the rules to force money handlers to vet their clients don’t apply to the cash machines’ owners or to crypto trading platforms.

Bitcoin 40

Bitcoin ATM Rules AML 40

PYMNTS

APRIL 28, 2020

Weber was most recently head of Financial Crime Prevention for the Americas at UBS, spearheading all facets of sanctions, BSA and AML compliance. Users throughout the world can now purchase seven digital currencies such as bitcoin, ripple and ether, among others, through Mastercard or Visa through the mobile app or website of the platform.

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Bitcoin Financial Crimes BSA Digital Currency 67

PYMNTS

JULY 21, 2020

Crypto enthusiasts proclaim that you can front the best-known players like bitcoin or the most obscure blockchain-backed currencies circulating the world and tap into the future of money. Even bitcoin is accepted by only a relative handful of digital retailers. Dhamodharan said that’s impossible to say from the outset.

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Visa Cryptocurrency Blockchain Bitcoin 127

PYMNTS

MARCH 10, 2017

“What goes up must come down” is, unfortunately, the most appropriate proverb to open this week’s bitcoin tracker. It all started when the price of bitcoin dropped by some $70 on Tuesday (March 7) for no readily apparent reason. Bitcoin would appear to recover, then sink further.

Bitcoin 46

Bitcoin Money Laundering Digital Currency Push-to-Card 46

Payments Source

APRIL 25, 2018

When regulators recognize ICOs as securities offerings, they will likely require issuers to fully comply with standard Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, increasing compliance pressure, according to Ron Teicher, CEO of EverCompliant.

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Money Laundering Issuers Cryptocurrency AML 98

PYMNTS

JANUARY 26, 2021

The guidelines expand to include virtual asset transfers and exchanges, as well as virtual asset storage and management in BSP’s licensing requirements and regulations, including its anti-money laundering (AML) and countering the financing of terrorism rules.

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Wire Transfer Blockchain Wire Wires 97

PYMNTS

DECEMBER 9, 2020

There are currently more than 5,500 different cryptocurrencies in circulation, but the biggest name in the business — and often a metonym for the industry itself — is bitcoin. billion bitcoins in circulation, with a market capitalization of $117.81 The year 2020 saw 18.42 billion and an individual coin valued at $19,463 as of December.

Money Laundering 66

Money Laundering Cryptocurrency AML Bitcoin 66

PYMNTS

JANUARY 15, 2019

At the same time, it was said that those who engage in digital asset dealing will have to follow rules for anti-money laundering (AML), among other regulations. million between 2015 and 2017 through the Finnish bitcoin exchange. dollars, The Telegraph reported.

Bitcoin 43

Bitcoin Regulations Digital Currency Money Laundering 43

PYMNTS

JULY 27, 2018

FitPay , the startup technology platform that adds contactless payment capabilities to wearable and Internet of Things (IoT) devices, is looking to serve consumers who own bitcoin with a new payment device. Beyond bitcoin , FitPay plans to look into more cryptocurrencies in the future.

Bitcoin 44

Bitcoin Contactless Payments Cryptocurrency Money Laundering 44

PYMNTS

JANUARY 19, 2021

CoinDCX Go users will be able to trade small amounts of 14 of the largest digital coins, including bitcoin, ether and binance coin, according to CoinDesk. Crypto custodian BitGo will ensure users’ funds, and the app will be protected by anti-money laundering (AML), artificial intelligence (AI) algorithms, CoinDesk reported.

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Bitcoin Cryptocurrency Money Laundering AML 57

PYMNTS

APRIL 18, 2018

And the price of bitcoin plummeted by greater than 2 percent within minutes on Tuesday (April 17), Business Insider reported. Overall, bitcoin has dropped 41 percent since the beginning of 2018. He also had an accomplice: “We are sure of that,” police chief Gunnar Schram told Visir.

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Bitcoin Money Laundering Cryptocurrency AML 43

PYMNTS

JUNE 6, 2019

Dutch billionaire John de Mol, who created the reality TV program “Big Brother,” is suing Facebook for allowing fake ads which used his name and image to commit bitcoin-related fraud that swindled 1.7 In other news, Vancouver’s mayor is suggesting the ban of bitcoin ATMs, as the city’s police called them an “ideal money laundering vehicle.”.

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Bitcoin ATM Money Laundering Scams 54

PYMNTS

AUGUST 4, 2019

Elliptic collaborated with researchers from the Massachusetts Institute of Technology (MIT) on the data set, which was taken from 200,000 bitcoin transactions worth $6 billion — the largest set of labeled transaction data publicly available in any digital currency in the world. A big problem with compliance, in general, is false positives.

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Money Laundering Bitcoin Transactions AML 46

PYMNTS

SEPTEMBER 10, 2019

Netki announced that it has upgraded its digital identity service so that cryptocurrency firms can meet AML recommendations by the Financial Action Task Force (FATF) for fighting money laundering.

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AML Compliance Law Enforcement Money Laundering 40

PYMNTS

SEPTEMBER 24, 2019

For bitcoin, and perhaps cryptocurrencies in general, does the future lie in … futures? As reported this week, the first bitcoin futures contracts that in turn settle in that marquee name in crypto started trading Monday (Sept. The move is being heralded as a “new chapter” in bitcoin’s storybook. Thinly, as Bloomberg noted.

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Bitcoin Travel Rule Cryptocurrency Money Laundering 72

PYMNTS

JUNE 29, 2018

Following a regulatory crackdown and recent hacks, bitcoin prices have slumped to lows not seen for months. Bitcoin hasn’t reached that level since the middle of last November. The fall comes as financial regulators in Japan mandated stricter anti-money laundering (AML) practices for multiple crypto exchanges.

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Bitcoin Money Laundering Cryptocurrency AML 41

PYMNTS

JULY 10, 2018

In addition, they fail to address the constant changes in cryptocurrencies, and were drafted when Europe accounted for only a small share of bitcoin and other crypto trading. The European Parliament has asked the ECB to boost its current AML checks before new reforms can be adopted.

AML 41

AML Money Laundering Laws Central Bank 41

Fintech Finance

DECEMBER 9, 2024

Morgan Andres Betancourt, Vice President, AML Sanctions Canada & International Advisory at PNC Bank Andrew Eichel, VP of Payments & Compliance at Lotto.com Inc. Lisa Lechner, Chief Compliance Officer at SpotOn Matt Shustrin, CCO (Chief Compliance Officer), BSA/AMLOfficer, Sr.

Office of the Comptroller of the Currency 95

Office of the Comptroller of the Currency Financial Crimes BSA Cross-Border Payments 95

PYMNTS

NOVEMBER 2, 2020

31, focuses on anti-money laundering (AML) practices and countering financing terrorism (CFT). The ministry’s AML and CFT policies incorporate the suggested policies set by the Financial Action Task Force (FATF) and will be monitored by the Caribbean Financial Action Task Force (CFATF).

CBDC 64

CBDC Distributed Ledger Technology (DLT) Visa AML 64

PYMNTS

FEBRUARY 10, 2020

Businesses managing cryptocurrencies have had a tough time maintaining relationships with legacy banks because of the perception that bitcoin-type transactions are connected to criminal behavior. The FCA has expanded oversight of the crypto industry due to anti-money laundering (AML) and counter-terror financing (CTF) procedures.

FinTech 82

FinTech Money Laundering Cryptocurrency Fed 82

PYMNTS

JANUARY 20, 2017

However, recently the People’s Bank of China pointed to irregularities in the operations of bitcoin exchanges BTCC, Huobi and OKCoin as the cause of the recent rollercoaster ride in bitcoin’s price, said Reuters. The developments are still ongoing, so PYMNTS’ Bitcoin Tracker will keep watch for new details in the coming weeks.

Bitcoin 41

Bitcoin IRS Digital Currency Central Bank 41

FICO

APRIL 23, 2019

In between coloring eggs, if you picked up a paper or scrolled through a news site, you probably would have seen the news that $130 million cash was found at the house of the ousted president of Sudan and how the US government foiled a money laundering operation by drug traffickers using bitcoins. AI AML Models: Solving a Big Problem.

AML 40

AML AI Money Laundering APACS 40

PYMNTS

OCTOBER 11, 2018

CipherTrace Chief Executive Officer Dave Jevans told Reuters, “the regulators are still a couple of years behind because there are only a few countries that have really applied strong anti-money laundering [AML] laws.

Digital Currency 73

Digital Currency Bitcoin Money Laundering AML 73

PYMNTS

FEBRUARY 19, 2020

The FCA recently took over as sole AML authority for crypto businesses, and as such, cryptocurrency firms are facing more scrutiny than before. The electronic money institution, authorized by the U.K., had to ban new account openings as well until the FCA gave the OK.

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IRS Cryptocurrency Money Laundering Digital Currency 67