9th August 2016
Suspected criminal proceeds or undeclared money seized from Chinese travelers has more than doubled in Canada since 2013, as the rate of capital flight from China continues its unprecedented pace. According to recent numbers from the Canada Border Services Agency, airport officials confiscated $11.5 million CAD in non-reported currency and… Read More
8th August 2016
Australia is moving to become one of the first countries to regulate e-currencies such as bitcoin under its anti-money laundering and counter-terrorism financing laws. Bitcoin – the most prominent digital currency to emerge globally – is backed by a computer code rather than a physical substance such as gold or… Read More
5th August 2016
Employees at TAB gaming outlets are breaching anti-money laundering controls by allowing controversial punters to place bets, collect winnings or shift funds through middlemen and third-party betting accounts. Betting records linked to controversial Sydney gambler Eddie Hayson – who bets alongside Victorian jockey Danny Nikolic, National Rugby League identities and figures with organised… Read More
4th August 2016
An online giveaway of 1,000 bitcoins (worth $580,000) has prompted speculation that it is part of an elaborate money laundering scheme by hackers who stole $70m worth of the cryptocurrency from an exchange. On Tuesday, August 2, the popular cryptocurrency exchange Bitfinex (BFX) revealed that it had suffered a major… Read More
4th August 2016
Last month, the European Commission published a draft directive proposing to extend anti-money laundering (AML) regulation to both virtual currency exchange services and custodial wallet providers. The draft suggests that many Bitcoin companies operating within the European Union will need to apply know-your-customer (KYC) types of checks on their users, to… Read More
2nd August 2016
Officials from the Bangladesh central bank are visiting Manila this week to pressure the authorities in the Philippines to find ways to return the $63 million that is still missing out of the funds stolen from its account at the Federal Reserve Bank of New York earlier this year, two… Read More
29th July 2016
A proposed amnesty will provide Turks with a final tax-free opportunity to repatriate money held overseas ahead of the culmination of a G-20 effort to shut global loopholes, according to Finance Minister Naci Agbal. “All countries are now passing regulations to bring back money held by their own nationals before… Read More
29th July 2016
A court monitor has found that Western Union has successfully implemented protections recommended by the Arizona Attorney General’s Office to stop the wiring of illicit cash. Read More
28th July 2016
The Payment Systems Regulator (PSR) has called for an overhaul of the UK's payments infrastructure to generate more competition and meet consumers' needs. Read More
28th July 2016
Bitcoin trading is going through peaks and lows everywhere in the world at some point in history. Over the past few weeks, however, some countries seem to show an increased interest in this cryptocurrency. Particularly Malaysia stands out, although that is not entirely surprising, given their stance on easing Fintech regulation in general. Read More