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AML News

Money laundering means taking certain steps to make illegal earnings look as if they were earned legally. What is AML? Anti-Money Laundering regulations generally put parameters and requirements in place in an effort to make such activities more difficult and to ward off such behaviors. In line with AML regulation compliance, companies and financial institutions must vet their customers through due-diligence procedures and prove the legal source of a customer’s assets. Such due-diligence measures include requiring money movements larger than a certain threshold to be recorded and disclosed to applicable agencies. While they are not the same as AML, KYC laws — or Known Your Customer laws — are commonly grouped together with it.

It is the responsibility of companies to notify customers about Anti-Money Laundering practices and required procedures. AML is not only considered useful in fighting money laundering itself, but it also helps prevent illegal activities by discovering the source of this money and assists by following criminals through the tracking of financial flows. AML, however, can be a strain on companies.

Analysis
As the crypto industry continues to develop at a rapid pace, so do the ransomware attacks, but regulators now seem ready to step in.
Crypto adoption in sights: Regulators and industry join to fight ransomware
Shiraz Jagati
2021-10-14T17:21:00+01:00
1079
News
The blockchain analytics firm have amassed data points on 98% of the market's digital assets.
Elliptic raises $60M to advance crypto analytics service
Tom Farren
2021-10-11T21:00:00+01:00
5403
News
BitOasis has partnered with the Dubai Police Force to establish safety regulations around crypto investments in the region, according to the exchange’s CEO.
BitOasis crypto exchange to help Dubai Police spread fraud awareness
Arijit Sarkar
2021-10-04T11:39:06+01:00
3739
News
The penalties are part of a new piece of legislation that also regulates crypto trading and payments.
Brazil aims to tighten penalties for crypto-related financial crimes
Helen Partz
2021-10-04T09:21:35+01:00
5823
Opinion
The decentralized, disintermediated and borderless blockchain networks challenge regulators, but DeFi is the future of finance.
DeFi: Who, what and how to regulate in a borderless, code-governed world?
Jane Thomason
2021-09-25T08:16:00+01:00
8456
News
The Russian central bank is planning to slow down payments to crypto exchanges and combat suspicious crypto activity.
Bank of Russia wants to block ‘emotional’ and suspicious crypto activity
Helen Partz
2021-09-15T13:48:05+01:00
4123
News
Bithumb’s stricter KYC requirements come in line with South Korea’s tightened Anti-Money Laundering regulations regarding foreign users of crypto exchanges.
Bithumb crypto exchange reportedly bans foreigners without mobile KYC
Arijit Sarkar
2021-09-03T10:03:34+01:00
3013
Opinion
A decentralized exchange reckoning is coming — and it’s bigger than the infrastructure bill — thus, the DeFi community must be ready.
The new episode of crypto regulation: The Empire Strikes Back
Mark Lurie
2021-08-27T14:27:00+01:00
6753

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