EU’s anti-money laundering bill passes final vote
The latest AML package is part of an increased effort by the EU to combat terrorist financing, and money laundering, which was given urgency following Hamas' financing through digital assets.
Latest Anti-Money Laundering News
UK widens digital asset money laundering rules to include NFTs
This week, the U.K. Treasury published a paper detailing proposed changes to ‘crypto’ supervision, expanding the FCA’s mandate and including NFTs in the bracket.
Kenya forms ‘crypto’ working group after addition to the FATF grey list
Kenya joins neighbors Tanzania and Sudan and regional heavyweights South Africa and Nigeria on the grey list, with digital assets among the FATF’s concerns.
EU’s new AML watchdog to be based in Frankfurt
Frankfurt beat bids from Madrid, Paris, Rome, and five other cities to host AMLA, a new 400-member agency whose anti-money laundering mandate will include digital assets.
South Korea to ban unfit exchanges as it ramps up digital asset scrutiny
A three-year license issued to virtual asset service providers (VASPs) in 2021 expires this year, and they have to renew it; South Korea’s FIU plans to use this opportunity to expel ‘unfit’ exchanges.
Digital asset firms continue to flounder in face of strict UK regulations
Rishi Sunak’s vision of the U.K. becoming a global hub for Bitcoin will likely come true, and the U.K. will be better off for the strict approach it has taken from the outset.
US Treasury Department assesses ‘crypto’ money laundering, terror financing risks
US Treasury plans to release its 2024 National Strategy for Combatting Terrorist and Other Illicit Finance, which will be based on the 2024 National Risk Assessments.
China AML laws revisions to eliminate digital asset regulatory blind spots
China is revamping its anti-money laundering (AML) framework, with digital assets among the key areas the government wants to tighten oversight to curb criminal exploitation.
EU Council reaches provisional agreement on digital asset AML regulations
The AML regulation is part of an increased effort to combat sanctions evasion, terrorist financing, and money laundering, which was given urgency in light of Hamas financing through digital assets.
UAE lays out updated AML policy in compliance with FATF Travel Rule
The amended rules will apply to VASPs, banks, and designated non-financial businesses and professions while seeking to clarify the definition of digital assets and their use as a payment alternative.
UAE unveils new guidelines to curb unauthorized use of digital assets
To combat illicit digital asset use, the United Arab Emirates released new guidelines that would help strengthen the region's financial system integrity, with an emphasis on compliance and heightened vigilance.
OneCoin exec faces 10 years in prison after pleading guilty to fraud charges
Irina Dilkinska from Bulgaria pleaded guilty to one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering for OneCoin.