Anti-Money Laundering

Anti-Money Laundering, Arthur Hayes, Bitmex, Department of Justice (DoJ), Financial Action Task Force (FATF), KYC procedures, Regulation, U.S. Commodity Futures Trading Commission (CFTC)

Bitmex Fast-Tracks KYC Program as Regulators Tighten Screws on Anti-Money Laundering Rules

Bitmex Fast-Tracks KYC Program as Regulators Tighten Screws on Anti-Money Laundering RulesBitmex said Wednesday that it is fast-tracking its user verification program in order to comply with regulatory requirements. Users must now be fully verified by Nov. 5, 2020 “to continue trading on the platform,” it said. In a statement, the crypto derivatives exchange stated that “unverified users will not be able to open new positions” […]

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.S. Treasury's Financial Crimes Enforcement Network (Fincen), Anti-Money Laundering, Banking Secrecy Act (BSA), Bitcoin mixing service, Coin Ninja, Helix, Larry Dean Harmon, money services business (MSB), News

US Financial Watchdog Fines Bitcoin Mixer Service for $60 Million

US Financial Watchdog Fines Bitcoin Mixer Service for $60 MillionLarry Dean Harmon, founder and operator of early bitcoin mixing services Helix and Coin Ninja, is being fined $60 million by the U.S. Treasury’s Financial Crimes Enforcement Network (Fincen) for allegedly violating anti-money laundering rules. According to documents published Oct. 19 by Fincen, the fine surrounds the transmission of “at least 356,000 bitcoin transactions through […]

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Anti-Money Laundering, Banorte, BBVA, Bitso crypto exchange, Citibanamex, HSBC, Inbursa, Mexico National Risk Assessment report, Mexico's Financial Intelligence Unit, News, Santander, Santiago Nieto Castillo, Scotiabank, terrorism financing

Banks in Mexico Pose Greater Money Laundering Risk Than Crypto Firms, Says Report

Banks in Mexico Pose Greater Money Laundering Risk Than Crypto Firms, Says ReportCommercial banks by far pose the greatest risk of money laundering in Mexico compared to crypto-related companies, according to a new report by the country’s Financial Intelligence Unit (FIU). The study singles out what it calls the “G7 banking group”, which includes BBVA, Santander, Citibanamex, Banorte, HSBC, Scotiabank, and Inbursa, as the biggest conduits of […]

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