Money Laundering in a Digital Age – The Perfect Storm

The new Black With the rapid advancement of mobile technologies, the internet is now accessible from any- and everywhere. Open banking (PSD2) in the European Union, together with mobile wallets, instance payment initiatives and...

The Global Laundromat

Transparency campaigners dismayed at clean bill of health for UK government On Friday, 7 December the Financial Action Task Force (FATF), a G7 initiative to combat money laundering and terrorist financing awarded the UK the highest rating it has ever given. The move...

What does Brexit mean for Britain’s AML Legislation?

The UK has voted to leave the EU. It may be that the UK – with other non EU countries, such as Guernsey – will decide to keep the provisions of MLD4.  Or it may be that it will decide on different legislation. I could imagine execution of the beneficial ownership...

As Cryptocurrencies become Mainstream, they must embrace KYC Compliance

Maybe I am just getting old, but it came as a shock that Bitcoin has now been around for a decade. Yes, it was launched in January 2009. Early in its existence, financial authorities became concerned that, due to its semi-anonymous and decentralized nature, Bitcoin...

Cryptocurrency – Enabler of Crime or Fake News?

Cryptocurrencies are in their embryonic stage and individuals will exploit this period to profit from them for both good and bad. But, that doesn’t make cryptocurrencies any more an enabler of crime than does fiat and digital currencies. Lets us not forget, in 1995...

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