16th July 2020
Stablecoins are very much in vogue, especially after the launch of Facebook’s Libra project in Geneva last year. This type of digital cryptocurrency is backed by regular money or commodities that better control price fluctuations than bitcoin, whose value depends exclusively on the level of demand. AgAu says it… Read More
10th July 2020
Growth in cryptocurrency adoption in recent years has attracted public interest, investment opportunities and regulatory attention. While cryptocurrency-related headlines are now commonplace, cryptocurrency mining remains an obscure topic to most. Anti-financial crime professionals familiarizing themselves with cryptocurrency risks should be certain to focus on what may appear to be a… Read More
10th July 2020
German prosecutors are looking into possible money laundering by executives at Wirecard AG, adding to ongoing probes related to potential fraud and fake accounting at the insolvent payments firm. A spokeswoman for the Munich public prosecutor said it was conducting several legal cases related to possible money laundering… Read More
10th July 2020
The City regulator has warned non-bank payments businesses that serve millions of consumers and small businesses that they face a crackdown over a series of failings. The Financial Conduct Authority told chief executives of regulated payment service providers and electronic money businesses that they must strengthen the way in… Read More
10th July 2020
By David Leask and Richard Smith, openDemocracy, 8 July 2020 openDemocracy – COVID is killing cash. Even as lockdowns loosen, consumers are turning away from notes and coins like never before. A survey in April found four out of five Britons – many forced to do all their shopping online… Read More
9th July 2020
The Justice Department is examining whether scandal-plagued German payment company Wirecard AG played a critical role in an alleged $100 million bank-fraud conspiracy connected to an online marijuana marketplace, according to people familiar with the investigation. Two businessmen have already been charged in the alleged fraud, accused of… Read More
9th July 2020
Tether and other so-called cryptocurrency stablecoins have long flown under the radar of international regulators. That’s about to change. The Financial Action Task Force, with members from about 200 countries who recommend ways to stop money laundering and the financing of terrorism, said in a report Tuesday that stablecoins… Read More
7th July 2020
Mastercard was warned about Wirecard’s links to an alleged laundering network in 2016, The Times can reveal. The payments group was handed details of Wirecard’s alleged links to a scheme that used bogus online stores to disguise the processing of high-risk payments, and Mastercard executives privately admitted to concerns about… Read More
7th July 2020
MFSA CEO Joseph Cuschieri says the financial regulator is ready to take on a new role that will bolster its investigative and supervisory powers against the problems of financial crime that risk Malta’s greylisting by Moneyval. There is serious talk about Malta’s possible grey listing from Moneyval. Let’s start with… Read More
1st July 2020
Senior Wirecard employees were linked to an opaque network of British companies associated with alleged money laundering. Staff from the scandal-hit German payment processor were shareholders in a company creation operation in the northeast of England that was shut down after a government investigation. The revelations will increase scrutiny of… Read More