Tag: Bank Secrecy Act (BSA)
Privacy-Protecting Regulatory Solutions Using Zero-Knowledge Proofs: Full Paper
November 16, 2022 Joseph Burleson, Michele Korver and Dan Boneh Editor’s note: Below is the full text of the paper “Privacy-Protecting Regulatory...
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Payment Approved™ Acquires RegTech and AML Compliance Leader Optima…
Payment Approved Logo Together, we will empower domestic banks around the world to digitize with simplicity, tap into a trusted...
Blockchain Transactions Affirm Suspicious Levels of RaaS Interconnectedness
During the COVID-19 outbreak, the virtual working environment has disclosed various organization vulnerabilities to ransomware attacks. Ransomware strikes impulsively at the heart of...
TRISA Launches Travel Rule Testnet to Support Cryptocurrency Exchanges…
TRISA's open-source MVP and Testnet give VASPs an opportunity to validate the compliance solution safely with test data MENLO PARK,...
Ten Key Takeaways from the NDAA’s AML Reforms
On January 1, 2021, the United States enacted the National Defense Authorization Act for Fiscal Year 2021 (NDAA) after the US House of Representatives and US Senate voted to override a presidential veto of the law. Included within the NDAA are a significant number of provisions related to anti-money laundering (AML) and countering the financing... Continue Reading
FinCEN Invites Comments on Proposed Amendments to Funds Recordkeeping and Transfer Rules
On October 23, 2020, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and the Federal Reserve Board published a joint notice of proposed rulemaking inviting comments on proposed modifications to regulations implementing the Bank Secrecy Act (BSA). First, the agencies propose to lower the monetary threshold contained in the so-called “recordkeeping rule”... Continue Reading
FinCEN Slaps Bitcoin Mixing Service with $60 Million Fine
Ohio resident Larry Dean Harmon has been hit with a $60 million civil penalty after being convicted of running a Bitcoin tumbler that laundered money for the darknet website AlphaBay. Some may recall that in 2019, Harmon was indicted by the U.S. District Court for the District of Columbia on multiple counts relating to his […]
The post FinCEN Slaps Bitcoin Mixing Service with $60 Million Fine appeared first on BeInCrypto.
CFTC, DOJ Charge BitMEX Owners with Illegal Operations and Anti-Money Laundering Violations
On October 1, the US Department of Justice announced the indictment of four BitMEX executives, charging the group with violating the Bank Secrecy Act (BSA), and conspiring to violate...
FinCEN Seeks Comments on Effectiveness of AML Programs, Presenting Rare Opportunity for FinTech and Blockchain Companies
On September 16, 2020, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published an advanced notice of proposed rulemaking (ANPRM) seeking comments on regulatory changes to enhance the effectiveness of anti-money laundering compliance programs of regulated financial institutions. As described in FinCEN’s press release, the ANPRM presents an opportunity for financial institutions... Continue Reading
Binance users offered new fiat gateway through Etana Custody
Binance, the blockchain company behind the world’s largest crypto asset exchange by trading volume and users, today announced a new fiat gateway that...
Government Accountability Office (GAO) Says That IRS Refused to Clarify Its Authority on Crypto Tax Guidance
The Government Accountability Office (GAO), a US Congress watchdog, evaluated the existing approach of the Internal Revenue Service (IRS) towards cryptocurrencies. It published...
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