The Fintech Times

APRIL 29, 2024

In the last two decades, anti-money laundering (AML) regulatory framework, processes and mechanisms have not changed much. As a result, fraudsters are capitalising on firms’ inadequacies to spot and deal with money laundering. Is the global anti-money laundering (AML) system broken? What’s the problem?

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PYMNTS

JANUARY 14, 2021

Bitcoin is about to get even more scrutiny by regulators, on a global stage. As reported by Reuters this week, Lagarde said at a conference sponsored by the newswire that bitcoin should be regulated — worldwide. The comments come against a backdrop where bitcoin’s price action has been volatile — to put it mildly.

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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.

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The Paypers

MARCH 8, 2021

During 2020 drug traffickers relied on Bitcoin automated teller machines (ATMs) to carry out illicit money transfers, according to the Drug Enforcement Administration (DEA) of the US Department of Justice.

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PYMNTS

MARCH 1, 2019

In other news, there were more than 7,000 cases of suspected crypto-related money laundering reported to police in Japan last year.

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PYMNTS

OCTOBER 12, 2020

Malcolm, according to a press release , boasts a wide background in anti-money laundering and compliance, saying compliance was “non-negotiable, and a prerequisite for exchanges to be embraced by regulators and institutional investors alike.”.

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PYMNTS

OCTOBER 21, 2018

The move aims to stop the use of crypto for money laundering, terrorism financing or other crimes. boosted its regulation of bitcoin and other cryptocurrencies by giving the European Union (EU) expanded anti-money laundering rules that would require traders to say who they are and report any activity that appears to be suspicious.

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PYMNTS

NOVEMBER 30, 2020

When PayPal announced recently that its 350 million users can deposit bitcoin and other cryptocurrencies in their accounts and spend it at 26 million merchants next year, it was characterized as the inevitable advance of digital currency. Bitcoin is like a [crypto] 101 version. Wanted: Big Backers And Government Support.

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Payments Source

MARCH 9, 2020

The Treasury secretary’s recent Senate testimony coming down on cryptocurrencies is misguided. Regulations should require building better blockchain technology at the banks.

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PYMNTS

OCTOBER 13, 2016

Canadian startup Ask The Doctor announced Ask The Doctor To Start Accepting Bitcoin As Payment on Wednesday (Oct. 12) it is now accepting bitcoin as a new way to further help protect its patients’ privacy. Later this month, Ask The Doctor will launch the bitcoin payment option on its mobile platform, it said.

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PYMNTS

SEPTEMBER 10, 2019

The Paris-based Financial Action Task Force (FATF), an organization which acts as the standard-setter for anti-money laundering (AML) standards around the globe, said it is closely watching the development of Facebook ’s planned cryptocurrency, Libra , according to a report by Reuters. A senior U.S.

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PYMNTS

OCTOBER 7, 2020

With transactions that become irreversible almost instantaneously, bitcoin and other cryptocurrencies are winning new converts — among scammers eager to avoid credit card chargebacks that can eat into their ill-gotten gains. Jack Dorsey Likes Bitcoin, But So Do Crooks . The Dark Web Likes Bitcoin, Too . For example, the U.S.

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PYMNTS

JANUARY 26, 2021

Bitcoin gets all the headlines. But step beyond bitcoin and enter the world of cryptocurrencies approaching mainstream acceptance. At present, he said, a number of factors have inhibited the adoption of bitcoin as a transactional currency, including the fact that it’s expensive and can be very slow.

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PYMNTS

JULY 11, 2019

Federal Reserve called for a stop to Libra , Facebook’s proposed cryptocurrency, until the project better demonstrated how it was going to address issues like money laundering and privacy, according to a report by Reuters. Bitcoin was last down 4.5 Jerome Powell testified before the U.S. percent, to $11,164.

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PYMNTS

DECEMBER 1, 2020

Bitcoin saw a new all-time record high on Monday (Nov. Bitcoin’s price has been steadily rising in recent weeks, climbing above $19,000 last week , thanks to the pandemic-driven shift toward digital payments and cryptocurrency adoption by several mainstream companies, including Square and PayPal. Eastern Time.

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PYMNTS

FEBRUARY 24, 2017

Is there an alternative, profound French phrase or two that can describe what investors have seen this week with bitcoin? Bitcoin is quickly headed toward fresh three-year highs after jumping up over $100 in value since last week’s tracker. 23) morning, bitcoin had broken $1,150 in value, reaching a high of $1,153.04.

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PYMNTS

JANUARY 18, 2018

Treasury’s financial crime unit is picking up enforcement of cryptocurrency platforms that don’t have strong internal mechanisms in place to prevent money laundering, according to a report in Reuters. must comply with the anti-money laundering rules on the books, including the requirement to file reports about suspicious activity.

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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.

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PYMNTS

NOVEMBER 14, 2016

prosecutors late last week charged a Florida man in connection with an illegal bitcoin exchange. According to a report by Reuters , Ricardo Hill, 38, was arrested in Florida in October and charged with conspiring to operate an unlicensed money transmitting firm. Prosecutors contend Coin.mx

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PYMNTS

MARCH 16, 2020

Guznov said per reports, “We believe there are big risks of legalizing the operations with the cryptocurrencies, from the standpoint of financial stability, money laundering prevention and consumer protection.”. The company had notified police when it saw surprising activity levels throughout many of its computers.

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PYMNTS

AUGUST 16, 2020

In addition, the Code of Practice makes a more standard approach to dealing with issues of money laundering and terrorism, the release stated, along with know your customer (KYC) best practices, and other issues important to crypto-asset and blockchain companies.

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PYMNTS

JULY 26, 2020

Bitcoin surpassed $10,000 on Sunday (July 26) for the first time since June, hitting $10,200, Reuters reported. Bitcoin has been negatively impacted by the pandemic over the past few months, halving for the third time in May and slicing the rewards bitcoin miners earn, per Reuters. ruled that bitcoin is money.

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PYMNTS

MAY 29, 2020

Bitcoin : not worth much – except what someone else is willing to pay for it. Goldman Sachs’ withering assessment of bitcoin this week may be enough to take some wind out of the sails of those who have been looking for the marquee name in crypto to find its way into mainstream commerce. Meanwhile, money laundering represented $2.8

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PYMNTS

SEPTEMBER 23, 2016

Now You Can Trade Bitcoin Any Time. The Winklevoss twins want to trade bitcoin, and they want to do it now. Growing impatient waiting for their ETF fund to be listed and to boost bitcoin trading, the cofounders of the Gemini Trust Company, a digital currency exchange based in the U.S., The price of bitcoin reached $607.31

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PYMNTS

SEPTEMBER 20, 2016

While various criminals have tried it, the “bitcoin isn’t money, therefore I can not be guilty of a financial crime” defense never really works out. “Bitcoins are funds within the plain meaning of that term,” Nathan wrote. The latest such decision comes care of U.S.

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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.”

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Payments Source

JUNE 30, 2016

WASHINGTON — Whether bitcoin is actual currency is at the forefront of a first-of-its-kind money-laundering case in Florida to be decided Friday.

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PYMNTS

NOVEMBER 4, 2020

Bit by bit — but more than bitcoin by bitcoin — cryptos are inching into the mainstream, for both consumer and commercial applications. Elsewhere, Square announce last month that it has invested $50 million — approximately 1 percent of its total second-quarter assets — to purchase roughly 4,709 bitcoins. “We

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Payments Source

DECEMBER 18, 2017

Germany joined European governments pushing for global bitcoin regulation amid mounting alarm that the world’s most popular digital currency is being used by money-launderers, drug traffickers and terrorists.

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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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PYMNTS

JUNE 19, 2017

With many cybercriminals choosing bitcoin as their currency of choice, the U.S. Of course, from Coinbase’s perspective, allowing those transactions could violate regulations designed to prevent money laundering and criminal activity.

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PYMNTS

JUNE 14, 2020

Xapo , a crypto wallet and bitcoin custodian, will no longer deal in credit card payments for digital asset purchases, according to an email from the company, as reported by CoinDesk. Xapo will also implement new restrictions on bank transfers, depending on a user’s location.

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PYMNTS

DECEMBER 10, 2020

Bitcoin is one of the most famous names in the cryptocurrency space, accounting for $6 billion in daily transactions among 153 million registered user addresses. The currency is well-known for its massive value fluctuations, as a single bitcoin cost just 9 cents in 2010, $313.92 How Money Launderers Exploit Cryptocurrency.

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PYMNTS

OCTOBER 1, 2018

31, 2018, will mark the 10th anniversary of the day that a link to a paper , authored by Satoshi Nakamoto , describing the digital currency called bitcoin was first publicly circulated. Ten years after bitcoin launched, it remains the go-to currency of criminals and a way for cybercrooks to wash their money.

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PYMNTS

JUNE 19, 2019

The announcement of Facebook’s Libra has buoyed other cryptocurrencies, especially Bitcoin, which gained in the neighborhood of 12 percent this week, to $9,477. The last time Bitcoin got close to the $10,000 level was in May 2018, but it couldn’t close the gap.

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PYMNTS

SEPTEMBER 10, 2019

will be required to comply with regulatory standards to prevent money laundering and terrorism financing. 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.

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PYMNTS

JANUARY 30, 2020

Zermatt, a ski resort town of 5,400 residents in Switzerland, has decreed that cryptocurrency bitcoin can now be utilized to pay taxes and other government services, Bloomberg reported. Mayor Romy Biner-Hauser confirmed that her residents can now pay for an array of traditional government services using bitcoin.

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