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.

Bitcoin 56

Bitcoin ATM Money Laundering Blocks 56

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.

Central Bank 43

Central Bank AML Money Laundering Regulations 43

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

PYMNTS

APRIL 29, 2020

With regulations surrounding digital currencies still in flux from one market to the next, compliance remains one of the most challenging obstacles for both crypto firms and banking providers to overcome. Bitcoin was created as a way to bypass the middleman of financial transactions — which, traditionally, is the bank itself.

Cryptocurrency 113

Cryptocurrency Cross-Border AML Compliance 113

PYMNTS

FEBRUARY 19, 2020

The IRS has been trying to combat cryptocurrency tax evasion, and the agency has been working on establishing more concrete guidelines for digital currencies. The attack comes just days after the first one, which claimed over $350,000 worth of digital currency from the bank.

IRS 67

IRS Cryptocurrency Money Laundering Bitcoin 67

PYMNTS

JANUARY 20, 2017

The price of the popular digital currency spent the week climbing back up after fears that China could crack down on its domestic exchanges caused its value to slump. The developments are still ongoing, so PYMNTS’ Bitcoin Tracker will keep watch for new details in the coming weeks. percent from the day’s open of $884.25.

Bitcoin 41

Bitcoin IRS Digital Currency Central Bank 41

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. According to a statement from the agency last month, which was cited by the outlet, almost 2,700 of the country’s citizens traded digital currency valued at $15.35

Bitcoin 43

Bitcoin Regulations Digital Currency Money Laundering 43

PYMNTS

OCTOBER 14, 2020

As much as Bitcoin and other cryptocurrencies have attracted scrutiny from the Department of Justice and still lack mainstream acceptance, Voyager’s portfolio of so-called “stablecoins” (which are linked to an underlying currency such as the U.S. Establishing Trust And Confidence.

Treasury 129

Treasury Cryptocurrency Fincen Stablecoins 129

PYMNTS

JANUARY 25, 2019

Chainalysis unveiled an anti-money laundering (AML) compliance solution for stablecoins called Know Your Transaction (KYT), the company said in an announcement. In other news, Robinhood got the green light to trade seven digital currencies — such as bitcoin and litecoin, among others — in New York state, Reuters reported.

Blockchain 49

Blockchain Bitcoin Stablecoins Digital Currency 49

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.

Bitcoin 57

Bitcoin Cryptocurrency Money Laundering AML 57

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

AUGUST 18, 2020

The platform said that “suspicious activity” that its Sentry workforce found and examined in conjunction with Ukraine’s Cyber Police brought about the identification and detention of a purported cybercriminal group behind alleged ransomware activities and laundering of over $42 million in digital currencies during the past two years. “We

Blockchain 56

Blockchain Bitcoin Money Laundering Digital Currency 56

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

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.

Bitcoin 46

Bitcoin Money Laundering Transactions AML 46

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

OCTOBER 18, 2018

In July, reports in the Financial Times said Switzerland is working to open the nation’s traditional corporate banking market to cryptocurrency companies finding it difficult to get banked, thanks to fears over anti-money laundering (AML) violations and other compliance issues. “Time is pressing,” he said.

Cryptocurrency 85

Cryptocurrency Blockchain AML Money Laundering 85

PYMNTS

OCTOBER 19, 2020

Earlier this month, The Bank of Russia had released a report on a potential rollout of the digital ruble. 19) announcement. As it stands, the individual is being prosecuted in a U.S.

Fincen 53

Fincen Mitigation Risk AML 53

Clearly Payments

MARCH 11, 2024

In recent years, the rise of cryptocurrency has redefined traditional notions of currency and payment systems worldwide. Cryptocurrency, such as Bitcoin, Ethereum, and others, operates on decentralized blockchain networks, enabling secure, peer-to-peer transactions without the need for intermediaries like banks or financial institutions.

Cryptocurrency 104

Cryptocurrency Consumer Protection Financial Inclusion Payments 104

Fintech News

JULY 3, 2024

In the heart of Southeast Asia, a small island nation is making giant strides in digital currencies. percent of its population owning digital assets, the city-state isn’t just participating in the crypto revolution—it’s leading it. The city’s success in crypto adoption serves as a model for other Asian nations.

Financial Literacy 111

Financial Literacy Cryptocurrency Digital Currency Accreditation 111

PYMNTS

SEPTEMBER 2, 2020

million of funds from a “wire fraud scheme” involving a so-called digital currency called OneCoin from 2015 to 2018, according to the letter. million because token buyers were not able to pass its know-your-customer (KYC) and anti-money laundering (AML) standards. Scott, according to a letter posted by CoinDesk.

Money Laundering 60

Money Laundering Bitcoin Wire Wires 60

The Paypers

APRIL 26, 2016

(The Paypers) The UK Treasury has revealed that it will not seek to impose anti-money laundering (AML) rules on digital currency wallet providers.

AML 28

AML Treasury Rules Money Laundering 28

PYMNTS

JULY 17, 2020

Bank Of England Chief Sees Bank-Backed Digital Currency On Horizon. BoE Governor Andrew Bailey told students on a Monday (July 13) webinar, “We are looking at the question of, should we create a Bank of England digital currency.”. How To Drive Success In A Digital 3.0

Point-of-Sale (POS) 80

Point-of-Sale (POS) Payment APIs and Integration Payments Digital Currency 80

PYMNTS

JULY 1, 2020

Malinger continued, “Unlike other legacy solutions, we simultaneously deliver the protection, instant liquidity and complete control required for all institutions to thrive in the digital asset economy.”. The verbiage is a part of the National Defense Authorization Act’s draft anti-money laundering (AML) amendment.

Multi-Currency 52

Multi-Currency Money Laundering Bitcoin AML 52

PYMNTS

AUGUST 5, 2019

Preecha Charoensahayanon, secretary general of the Anti-Money Laundering Office, said that while his agency hasn’t received any specific complaints about crypto, he believes that digital currencies “will be a tool of new money laundering.”. “We

Money Laundering 43

Money Laundering Laws Visa AML 43

Fintech News

JANUARY 24, 2024

The move aims to protect against financial crime and loss, particularly in digital fraud, and includes broadening DPT service definitions and enhancing Anti-Money Laundering (AML) protocols such as Customer Due Diligence and transaction monitoring. They broker exchanges of Bitcoin, Ethereum, Solana, and other digital assets.

Service Provider 98

Service Provider Cryptocurrency Payments Institute Blockchain 98

Payments Source

OCTOBER 29, 2018

The bank, one of the few that do business with digital currency exchanges like Coinbase, has developed methods for monitoring all customers’ digital currency purchases.

Digital Currency 68

Digital Currency AML Compliance Bitcoin 68

Finovate

MARCH 20, 2024

Base Backup as Bitcoin Booms The renewed boom in bitcoin is not without its discontents. Other firms participating in the fundraising were blockchain-focused outfits Digital Currency Group, Verod-Kepple Africa Ventures, and Alter Global. VC firms Flourish Ventures and TLcom Capital led the investment.

Blockchain 59

Blockchain Payment Security Security AML 59

Payments Source

JULY 5, 2017

Transaction laundering is gaining steam, and since it uses familiar payment technology, it can be easier to use than virtual currency, write Ron Teicher of EverCompliant.

Transactions 83

Transactions Crime Bitcoin Technology 83

PYMNTS

NOVEMBER 20, 2019

The world seems to be divided into two camps, at least when speaking generally: Those who think bitcoin and other digital currencies provide the promise of transactional efficiency in the coming year, and those who view cryptocurrency as mainly a way for drug dealers, terrorists, fraudsters and others to operate in the shadows.

Travel Rule 49

Travel Rule Rules Digital Currency Cryptocurrency 49

PYMNTS

JULY 27, 2018

To enable its customers to buy and sell five digital currencies, TransferGo has rolled out a crypto trading facility. Users can trade bitcoin, bitcoin cash, Ripple, Litecoin and Ethereum through the service, according to reports. The company’s iOS and Android apps allow users to access the new trading facility.

Cryptocurrency 43

Cryptocurrency Money Laundering Real Time Payments Bitcoin 43

The Paypers

MAY 12, 2016

(The Paypers) The Australian government has responded to a Senate report on how digital currency exchanges should be brought under AML and CTF rules.

Regulations 28

Regulations Bitcoin AML Digital Currency 28

PYMNTS

SEPTEMBER 10, 2019

Whether it’s bitcoin, Ethereum, Libra, our message is the same to all of these companies: Anti-money laundering and combating the financing of terrorism has to be built into your design from the get-go,” she said. They will be required to follow the new anti-money laundering (AML) requirements that FINMA revealed earlier in August.

Money Laundering 43

Money Laundering Finance Cryptocurrency Digital Currency 43

Payments Source

NOVEMBER 20, 2019

Yet that figure is relatively low compared with other digital assets such as bitcoin, according to the fintech Elliptic.

Crime 69

Crime Bitcoin FinTech Money Laundering 69

PYMNTS

JUNE 1, 2020

“Along those lines, what the [payment] networks are trying to do with network tokens and SRC [secure remote commerce] could be game changing,” said McCarthy, as they help ensure identities and the payment instruments themselves are trusted, which helps with know your customer (KYC) and anti-money laundering (AML).

Cross-Border 69

Cross-Border Payments Privacy Issuers 69

PYMNTS

JUNE 18, 2019

“At PayPal, we believe in democratizing participation in the digital economy for people from all walks of life and businesses of all sizes. PayPal is pleased to join other leading technology and financial services organizations to form Libra, with the goal of exploring a new, global digital currency, built on blockchain technology.”.

Payments 98

Payments Online and Mobile Banking Cross-Border Financial Inclusion 98

PYMNTS

MARCH 12, 2018

But might there be digital offerings in the wings that will supplant the promise (and peril) of bitcoin and its digital currency brethren? Cooke argued that bitcoin and blockchain have their place and use cases in the world. The central problem of bitcoin and the whole concept of cryptos? “By

Faster Payments 44

Faster Payments Central Bank Cross-Border Payments 44

PYMNTS

DECEMBER 2, 2019

This would indicate that some efforts, such as know your customer (KYC) and anti-money laundering (AML), when deployed by the exchanges, are having a positive impact. The technology aspect of digital currency is now, too, becoming a competitive issue on a broad stage. billion number is a huge jump from the $1.7 citizenship.

Digital Currency 52

Digital Currency Cryptocurrency Crime Money Laundering 52