Anchorage Digital Bank, a pivotal player in the institutional cryptocurrency market, is currently under federal investigation by the US Department of Homeland Security's El Dorado Task Force. The investigation is expected to address financial misconduct, although the bank has already faced
In a recent address, AUSTRAC CEO Brendan Thomas issued a stern warning to pubs and clubs regarding their practices surrounding anti-money laundering (AML) compliance. Emphasizing that AML responsibilities cannot be managed through a "one-size-fits-all" or "set-and-forget
Australia has significantly intensified oversight of crypto ATM operators to address rising concerns over their potential role in financial crimes. The Australian Transaction Reports and Analysis Centre (AUSTRAC) has taken a lead role in ensuring that these operators adhere strictly to anti-money
The Federal Deposit Insurance Corporation (FDIC) has recently made a landmark decision to remove its reputational risk criteria from the evaluation of bank supervision. This criterion, argued by many in the cryptocurrency industry to be a subjective standard, had previously facilitated the
The rising tide of economic crime and its enablers has ignited calls for tighter regulatory measures. Among the loudest voices is Baroness Margaret Hodge, the UK's anti-corruption champion, advocating for a new criminal offense targeting lawyers who facilitate such crimes. At an event at the
The enduring battle against financial crime, including pervasive issues like money laundering and fraud, has been a persistent challenge for financial institutions and regulatory bodies alike. Traditional Anti-Money Laundering (AML) systems, burdened with outdated technology and labor-intensive
