Remove AML Remove Cryptocurrency Remove NFTs
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Finovate Global: Talking Fintech Regulation in the European Union with EverC’s Maya Shabi

Finovate

Many FIs need to significantly upgrade their payment processing systems to handle real-time transactions, which also need to uphold fraud detection and AML/CTF rules in real time. Shabi: Complying with the MiCA framework is the first thing that comes to mind when cryptocurrency and the EU are mentioned in the same sentence.

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NFTs and Money Laundering - Are Fraudsters Becoming Artists?

FICO

In part 1 of this blog series my colleague defined NFTs or Non-Fungible Tokens. I think NFTs are even better for illicit purposes than traditional art, simply because the hurdles are lower. So, how do criminals go about using NFTs to launder money? Four steps to using NFTs for money laundering: Create the artwork.

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In the age of crypto, is FATF playing catch-up on Recommendation 16?

The Payments Association

The Financial Action Task Force (FATF) has long been the global standard-setter for AML and CTF measures. While this requirement has been a cornerstone of AML and CTF efforts, its implementation has traditionally focused on the banking sector, which operates within well-defined regulatory frameworks.

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The global impact of money laundering in 2024

Neopay

Cryptocurrency: Chainalysis reported that $23.8 billion in cryptocurrency was laundered in 2022, representing a 68% increase over 2021. The anonymity offered by cryptocurrencies makes them attractive for laundering illicit funds. Europe, for example, continues to lead in the implementation of stringent AML regulations.

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Here Are All The Licensed Crypto Services Providers in Singapore

Fintech News

On January 14, 2019, the Singapore Parliament passed its comprehensive Payment Services Act (PS Act), replacing the former Payment Systems Oversight Act and Money-Changing and Remittance Businesses Act to broaden the scope of regulated payment activities to include emerging trends and industries like digital assets and cryptocurrencies.

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China's central bank plans to track virtual assets

The Paypers

China’s central bank’s AML office has announced plans for a tracking system for the virtual assets, such as cryptocurrencies and NFTs, for cracking down on virtual-related crimes.

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WhiteBIT Surpasses 5 Million Users, Strengthening Its Leadership in Europe’s Crypto Market

Fintech Review

Vilnius, Lithuania, October 30th, 2024, FinanceWire As WhiteBIT approaches its 6th anniversary in November, the exchange continues to reinforce its role as a prominent player in Europe’s cryptocurrency sector, driven by a focus on user experience, security, and strategic partnerships.

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