Cryptocurrency Analysis and News Portal
The Google Cloud Anti-Money Laundering AI focuses on retail and commercial banking to accelerate risk detection. The rule-based transaction monitoring used by financial institutions to identify money laundering is about to be disrupted by Alphabet Inc’s (NASDAQ: GOOGL) Google Cloud Anti Money Laundering AI. After a successful trial period with London-based
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Google Cloud recently announced the launch of its “Anti Money Laundering AI” (AMLAI) service after a successful trial with London-based financial services group HSBC.AMLAI uses machine learning to create risk profiles, monitor transactions and analyze data. Per a blog post from Google Cloud:“AI transaction monitoring replaces the manually defined, rules-based
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Reports indicate that French authorities have been investigating Binance since February 2022, which may result in more regulatory issues for the largest crypto exchange by trading volumes. This comes at a time when Binance is already
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Allegations against Binance from French prosecutors "relates on the one hand to acts of illegal exercise" of operating as a digital asset service provider and "acts of aggravated money laundering, by competition with operations of investments, concealment, conversion, the latter being carried out by perpetrators of offenses having generated profits,”
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Europe has generally been receptive to crypto exchanges and their anti-money laundering efforts. Binance is already AML compliant in France, Italy, Spain, Poland, Sweden and Lithuania. Two days ago, the exchange said it planned to leave Cyprus to focus on becoming fully compliant with the new European Union rules on
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“There are major inconsistencies between Qatar’s risk profile and the type and extent of terrorist financing activity prosecuted and convicted,” added FATF, a Paris-based global watchdog, which seeks to monitor and mitigate flows of dirty money, including through a controversial “travel rule” requiring the identification of participants in crypto transactions. Source
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MiCA will enter into force in a few weeks after being published in the EU’s official journal, which is likely in June. Its provisions – offering crypto exchanges and wallet providers a license to operate across the 27-nation bloc, and requiring stablecoin issuers to hold appropriate reserves – will take
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The exchange has set notification requirements for receiving and sending crypto to TRUST-compliant platforms in a list of 21 countries, which includes Japan, Israel, Gibraltar, Hong Kong, the Bahamas and Switzerland. BitFlyer further restricts transfers to complaint platforms in these countries to TRUST-compatible crypto assets such as bitcoin (BTC), ether
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied BKEX, a cryptocurrency exchange, has suspended withdrawals of user funds as it looks into claims that the platform was used for money laundering. BKEX partners with authorities to investigate the situation The British Virgin Islands-based cryptocurrency exchange BKEX
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Japan will implement stricter rules for exchanges, including the implementation of the FATF travel rule, to combat money laundering and ensure transparency in cryptocurrency transactions. On May 23, Japan announced that it will implement stricter measures against money laundering (AML) in cryptocurrency transactions starting from June 1, in order to comply
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