7th January 2021
Wall Street banks are asking a key regulator to drop a proposed rule that would force them to do business with energy and firearms companies that could subject them to public scorn, questioning the legal basis for a measure they say is being unfairly fast-tracked. The “fair access” rule proposed… Read More
6th January 2021
The U.S. Treasury Department is expected to study the money-laundering risks posed by China—and develop a strategy to defend against them—following the approval last week of the annual defense policy legislation. The directive highlights the continued scrutiny on China from the executive and legislative branches of the U.S. government, policy… Read More
6th January 2021
Kyrgyz MPs have approved an economic amnesty bill that allows individuals who obtained financial assets through illegal means to avoid prosecution by surrendering the assets to the State Treasury. The move will do nothing to allay concerns that organised crime is posing a growing threat to democracy in Kyrgyzstan—the fears… Read More
6th January 2021
Cryptocurrency prices briefly popped late Monday, after a federal banking regulator said in an interpretive letter that U.S. financial institutions are allowed to use stablecoins for payment activities, and can participate as nodes in a blockchain. The letter from the Office of the Comptroller of the Currency is the latest… Read More
5th January 2021
The antiquities trade, which regulators have long feared provided fertile ground for money laundering and other illicit activities, will be subject to greater oversight under legislation passed by Congress on Friday when it overrode President Trump’s veto. The provisions tightening scrutiny of the antiquities market were… Read More
5th January 2021
Suspicious transactions worth P113.1 million related to child pornography were reported in the first half of last year, almost double the P65.8 million booked in 2019 as the government stepped up its campaign against the sexual abuse of children, the Anti-Money Laundering Council (AMLC) revealed. In a public bulletin titled… Read More
5th January 2021
A U.S. judge on Monday blocked the Trump administration from sanctioning human rights lawyers for supporting the work of the world’s war crimes tribunal, the International Criminal Court. U.S. District Judge Katherine Polk Failla in Manhattan issued a preliminary injunction against the White House from imposing criminal or civil penalties… Read More
5th January 2021
Measures to better counter money laundering and terrorism financing were approved yesterday, under changes to the law that regulates virtual payment service providers. These changes will also strengthen laws governing digital payment tokens (DPTs) to ensure that companies issuing such tokens protect the assets of their users, said Transport Minister… Read More
5th January 2021
Bitcoin is entering 2021 in the best place its ever been. With strong movements past $30,000, the whole world is waiting to see how high Bitcoin will go. But while BTC hodlers’ pockets are busting with cash, the United States’ tax arm, also known as the Internal Revenue Service (IRS),… Read More
5th January 2021
Malta is on track to make it through a crucial evaluation of its anti-money laundering regime, Prime Minister Robert Abela said on Sunday. In a brief phone-in interview on the Labour Party’s ONE radio, Abela said the government had put a lot of work into addressing shortcomings that had been… Read More