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FEBRUARY 13, 2020

The funding will enable Elliptic to expand across Asia and collaborate with financial institutions for an increased understanding of the cryptocurrency ecosystem. Elliptic, founded in 2013, has become known for cryptocurrency platform tools that help find and block illicit transactions.

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JULY 15, 2020

with an app and debit card, is expanding its range of services into the realm of cryptocurrency trading with a big assist from Paxos. said Revolut is its first customer for its new product, the Paxos Crypto Brokerage. while enabling Revolut to control “the user experience” and manage its “customer relationships.”

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PYMNTS

DECEMBER 16, 2020

American Express Ventures has invested in cryptocurrency exchange platform FalconX , according to a press release. FalconX offers its institutional clients an integrated platform that services cryptocurrency trading, clearing and credit. In other news, the U.S. users to avoid running into potential compliance issues.

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PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. Certainly, the use and availability of cryptocurrencies is another emerging area that is contending with its own unique set of compliance issues, but it is also one Wingert said appears to be closing gaps in regulation.

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Abrigo

DECEMBER 28, 2022

Cybercrime, sanctions compliance, and cryptocurrency troubles are bound to be trends for anti-money laundering/countering the financing of terrorism (AML/CFT) and fraud professionals to track in the coming months. Others explain common and emerging fraud trends that compliance staff are working to prevent.

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OCTOBER 16, 2018

In the midst of cryptocurrency trading volatility, one more bank has backed away from a trading project — this time it is Barclays. As reported by sites such as Financial News , the investment firm has scrapped plans to bring to market a cryptocurrency trading project. The plan is now “ on ice ,” according to reports.

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OCTOBER 14, 2020

The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. This in the wake of the OCC’s Sept.

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AUGUST 23, 2019

Traki customers will be able to use various cryptocurrencies as payment options for the retailer’s products. Traki has been one of the early adopters of cryptocurrencies in Venezuela, which highlights its commitment to improve the traditional financial system,” Zac Cheah, co-founder and CEO of Pundi X, said in a press release. “At

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PYMNTS

OCTOBER 13, 2020

And, while terrorist use of cryptocurrency is still evolving, certain terrorist groups have solicited cryptocurrency donations running into the millions of dollars via online social media campaigns.”. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year.

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NOVEMBER 19, 2019

Cryptocurrency risk management platform TRM Labs announced that it has raised $4.2 Founded in 2018, TRM helps financial institutions across the US, Latin America, Asia and Europe to measure, monitor and mitigate their cryptocurrency risk exposure, enabling them to simplify customer due diligence and meet regulatory requirements.

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NOVEMBER 2, 2020

During phase one, VASPs will have to demonstrate their compliance with these standards, according to the release. And, Huobi Group expanded its support for cryptocurrency purchases via Visa and Mastercard on Huobi Global , its digital asset exchange, now allowing cardholders to access a seamless fiat-to-crypto gateway.

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JANUARY 7, 2020

In other crypto news , cryptocurrency tax automation software TaxBit has raised $5 million in funding. Investors in the venture include TTV Capital, Dragonfly Capital Partners, Collaborative Fund, Winklevoss Capital, Valar Ventures, Global Founders Capital, Table Management, Album VC and more. .

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OCTOBER 18, 2018

The global regulatory framework of cryptocurrencies and blockchain remains either fragmented, vague or simply nonexistent. Part of the initiative includes the SBA’s guidelines to the nation’s traditional financial services market on how to service these industry players while maintaining compliance.

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PYMNTS

JULY 12, 2019

Cryptocurrency exchanges in Canada will now only have to report transfers of more than CA$10,000 ($7,663). The move comes after the Canadian government decided to ease up on some of its new anti-money laundering regulations due to feedback from payment service providers and crypto exchanges.

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Abrigo

JANUARY 31, 2023

Recap and forecast The current state of AML/CFT regulations Terminology change Financial crime professionals have long referred to Bank Secrecy Act (BSA) compliance in conjunction with anti-money laundering efforts as “BSA/AML.” However, the regulatory movement since then has been slow. That represents nearly 2.8

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BankInovation

FEBRUARY 24, 2022

The Biden administration plans to increase anti-corruption efforts in financial services with new anti-money laundering (AML) regulations in corporate banking and cryptocurrency.

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PYMNTS

JULY 16, 2019

France’s financial regulator is set to approve a wave of cryptocurrency-related firms in the country, subjecting them to new rules that include paying taxes and complying with capital requirements and consumer protections, according to a report by Reuters. Because digital currency is so new, regulations vary around the world.

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PYMNTS

JULY 15, 2019

billion is estimated to have been lost to cryptocurrency scams, thefts and fraud in the first quarter of 2019, and cybercriminals and scammers are not the only ones putting digital asset users at risk. Tackling such fraud issues requires cryptocurrency trading platforms to take a variety of approaches. More than $1.2 Low-Friction KYC.

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PYMNTS

APRIL 19, 2019

The big news in B2B FinTech investment this week came from Airbnb , which is bolstering its presence in the business travel market with new funding, while corporate card startup Brex also secured a prominent debt capital investment. The company said it plans to use the investment to further build out its lending operations.

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PYMNTS

SEPTEMBER 29, 2020

Jumio said it plans to integrate Beam’s AML screening and transaction monitoring services into its KYX platform to help flag financial crime and streamline regulatory compliance. Another key component of the platform is helping companies manage various KYC and AML regulations in different jurisdictions across the world.

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PYMNTS

DECEMBER 10, 2018

Facebook already has about a dozen people working on blockchain and cryptocurrency. Facebook CEO Mark Zuckerberg has been vocal about his support of cryptocurrency and blockchain, and the potential to use them to “take power from centralized systems and put it back into people’s hands.”.

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SEPTEMBER 30, 2018

1) that IdentityMind’s pioneering compliance, risk management and fraud prevention platform has integrated CipherTrace ’s digital currency risk assessment technology. Working together with CipherTrace, we bring transparency, integrity and compliance to the world of virtual currencies.”.

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PYMNTS

OCTOBER 11, 2018

In news that may be separated from the vagaries of cryptocurrency trading, Banco Santander said this week that it will use Ripple’s ledger, bringing payments across the bank’s OnePay FX platform. In just over a week, the price has slipped 20 percent. The various tools are targeted to small and mid-sized businesses (SMBs).

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PYMNTS

DECEMBER 14, 2017

It’s been a newsworthy week for bitcoin, with agencies around the world concerned with a potential bubble involved in cryptocurrency. report, in conjunction with the Austrian Association for Supply Chain Management, Procurement and Logistics. . $16,835 | Value of a single bitcoin as of the close of trading on Wednesday (Dec.

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NOVEMBER 11, 2019

Cryptocurrency companies that previously let customers remain anonymous will have to change their tunes in some countries, as will online gambling sites that provided fast onboarding at the expense of rigorous identity verification approaches. Find more on these and other recent headlines in the Tracker.

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PYMNTS

JULY 22, 2020

Brex , the San Francisco financial technology startup, is offering FDIC insurance on its no-fee cash management account, the company announced Wednesday (July 22). The new feature in Brex Cash allows customers the choice to hold cash savings with FDIC insurance, or invest in Money Market Funds.

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Abrigo

MAY 20, 2022

When discussing and researching the latest fraud trends and news , respondents listed the following sources for education in the industry: industry associations, software vendors, peer networking sites, and news outlets. Training is a regulatory component and one of the five pillars of compliance.

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PYMNTS

NOVEMBER 26, 2019

Compliance with market standards and regulations allows us to provide our clients with legal security and convenience of using the exchange, with the participation of a friendly banking system and the availability of payment operators,” BitBay said. “As a licensed exchange, BitBay has to follow the market standards.

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PYMNTS

MAY 3, 2019

.” XWallet is the firm’s mobile app that connects digital asset wallets to the Pundi X payment ecosystem for streamlined management of digital assets, including top-up and balance inquiry functionality. The firm’s compliance team will review all custom tokens designed on the platform.

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PYMNTS

MARCH 25, 2019

In other statistics cited by Karen Webster in a recent podcast with Trulioo General Manager Zac Cohen , the share of intercepted proceeds from financial crimes is paltry, at about 1 percent, and as many as 50 percent of firms are compromised by fraudsters. One microcosm of fraud and regulatory scrutiny is cryptocurrencies.

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MARCH 3, 2020

The appointed organizer for the initiative, SFB Technologies, tapped the Algorand protocol because of its scalability, speed, security and its “ability to effectively implement required compliance controls and the transaction finality needed for a national currency.”

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SEPTEMBER 30, 2020

In today’s top news in digital-first banking, global card issuing platform Marqeta debuted its Tokenization-as-a-Service (TaaS) offering, while the Bank of New York Mellon (BNY Mellon) has named a new executive for global market infrastructure. The news follows Jumio’s Sept.

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JANUARY 6, 2019

In other news, Vaishali Mehta, who worked as a senior compliance manager at Coinbase, has left the company to become the head of compliance for TrustToken , which produces the TrueUSD stablecoin. Crypto is an exciting place, and I have been lucky to have been a part of this ‘madness,’” Mehta told CoinDesk.

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PYMNTS

JANUARY 8, 2018

So declared Israel’s central bank, which said Monday, as reported by Reuters , that it would not view cryptocurrencies — bitcoin among them, of course — as a reputable form of currency. An asset, not a currency.

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PYMNTS

JANUARY 15, 2018

Chinese companies are flocking to blockchain and cryptocurrency technology despite regulators’ efforts to contain risks, reports in Reuters said Friday (Jan. Reuters noted that Beijing has banned the controversial funding strategy of the initial coin offering (ICO) and forced several cryptocurrency exchanges to close.

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PYMNTS

JULY 27, 2020

Australia and Singapore … rolling out Revolut’s banking operations in Europe … strengthening risk management and compliance … multiple new product launches … $580m in new equity … and customer base up around 2.5x!” The company recently expanded into the United States.

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Urs Bolt

MAY 7, 2018

Challenges and trends in Wealth Management technology in Switzerland. Read more about ‘ Challenges and trends in Wealth Management technology in Switzerland ‘ on my Linkedin profile. Compliance. Cryptocurrencies. Wealth Management. Tags Artificial intelligence. Blockchain. Cheap Energy. Regulation.

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