More From Financial Crime Threats
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NewsRobinhood braced for multi-million fine in AML probe
Online trading app Robinhood said it expects to pay a $30m (€25.4m) penalty in relation to an anti-money laundering probe of its cryptocurrency business, according to a Securities and Exchange Commission (SEC) filing
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News
Nigeria becomes eagle eyed in reporting financial crime
The Economic and Financial Crimes Commission (EFCC) in Nigeria this week launched the Eagle Eye smartphone app to make telling it about economic and financial crimes easier.
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News
Banks in Latvia improve AML/CTF controls
Latvia’s Finance and Capital Market Commission says banks in the country have implemented numerous changes to improve their internal control systems.
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News
FinCEN has turned its attention to crypto
The U.S. Financial Crimes Enforcement Network ( FinCEN ) has identified cryptocurrencies as one of the anti-money laundering and countering the financing of terrorism ( AML / CFT ) priorities.
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News
Digitalisation increases cybercrime risk
The growth in digitalisation has led to a greater threat of falling victim cybercrime, according to respondents in a survey of the MENA region by data provider Refinitiv.
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News
Environmental crime is money laundering threat says FATF
Countries should view environmental crimes such as illegal forestry, mining, land clearances and waste trafficking – and the associated trading – as a money-laundering (ML) risk, according to the Financial Action Task Force (FATF).
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News
Head of Guernsey’s new financial crime agency seeks tougher powers
Kevin Davis, director of the Economic and Financial Crime Bureau in Guernsey, is working on acquiring greater powers to seize illegally acquired cash and property.
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News
FCA warns of dangers from unregistered crypto companies
The 111 crypto asset firms operating in the UK without registration pose a risk to the broader financial system, according to Mark Steward, head of enforcement and market oversight at the Financial Conduct Authority’s (FCA).
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Event
FinCrime World Forum deep-dives into corruption, dirty money, and the fight against kleptocracy
Today at FinCrime World Forum, award-winning investigative reporter and Financial Times investigations correspondent, Tom Burgis, discussed the inner workings of a growing global network of kleptocratic elites.
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Event
FinCrime World Forum focusses on the stark reality of financial crime facing the EU, with Europol’s Burkhard Mühl
Day two of FinCrime World Forum begins with an investigation into the sheer scale and complexity of the financial crime crisis facing governments across Europe and beyond
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News
Malta’s ‘wild west’ beginnings as blockchain island catch FAFT’s eye
Members of the Financial Action Task Force (FAFT) have voiced concerns about the estimated €60bn ($71bn) of cryptocurrency and other virtual assets which moved through Malta in a ‘wild west’ period after the government declared the country a blockchain island in 2017.
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Analysis
John Scanlon discusses the wildlife/FinCrime nexus at FinCrime World Forum
Before a global audience, Australian lawyer John Scanlon today presented his experiences of the illegal wildlife trade, and explored how the illicit industry props up international financial crime.
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News
World Economic Forum issues guide to combat financial crime
The World Economic Forum (WEF) has published the Unifying Framework, self-regulatory guidelines for private-sector intermediaries known as gatekeepers who are able to prevent or interrupt illicit financial flows.
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News
Guernsey launches agency to fight financial crime
The Economic and Financial Crime Bureau (EFCB) has been set up by Guernsey’s government to investigate money laundering and economic crime, take enforcement action and recover proceeds from unlawful conduct.
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Feature
Key Theme: Virtual Assets in the FinCrime Mainstream
With FinCrime World Forum taking place on 22-23 June, Nick Furneaux, MD at CSITech and CTO at Asset Reality, gives us an introduction into one the key themes ’Virtual Assets in the FinCrime Mainsteam.’
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News
Malta updates anti-corruption strategy
The Maltese government has refreshed its national strategy to fight fraud and corruption, two years after a report by the Council of Europe’s anti-corruption body Greco highlighted how a promised update had never materialised.
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News
Fresh AML drive in UAE
The ministry of economy in the UAE has launched a campaign to ensure more than 500,000 of the nation’s non-financial businesses submit data on their ultimate beneficiaries by 30 June.
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News
South Korea’s first regulated crypto exchange could launch in Q3
South Korea has requested crypto exchanges to comply with new regulatory requests, and should the exchanges complete the process by June, the country’s first regulated exchange could launch towards the beginning of Q3 2021.
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Analysis
Pooling obligations through fincrime utilities can help us be the ‘gatekeeper’
Helene Erftemeijer, ahead of her talk to GRC World Forums next month, discusses an innovative collective transaction monitoring project in the Netherlands and why we must break down siloes to keep up with the criminals
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Analysis
Pushing the pace of RegTech adoption to fight the criminals
Next month, Dr Sian Lewin will address FinCrime World Forum on the topic of removing barriers to RegTech adoption in financial crime. Here, she talks about the benefits of technological solutions and explains why the pace of adoption needs to speed up.
