Regulatory Initiatives Archives - Page 3 of 5

ACAMS Connection, In Focus, Regulatory Initiatives

Are Regulators Coming for Crypto?

June 14, 2021February 2, 2023 /Leave a comment

The meteoric rise of cryptocurrency and its attendant community show no signs of slowing. Having started on the fringes of the financial sector, digital currencies are winning over hearts from Main Street to Wall Street. Crypto exchanges are seeing record growth as coins, both new...

ACAMS Connection, Exclusive, Regulatory Initiatives

The AMLA Targets Anonymous US Shell Companies, But Can It Halt Illicit Fund Flows Globally?

May 28, 2021February 6, 2023 /Leave a comment

The U.S. has long had a problem with shell companies, a loophole that has been overlooked in the fabric of its anti-money laundering (AML) regime. The misuse of anonymous shell companies unjustly enriches kleptocrats and criminals, allowing them to dodge taxes, skirt sanctions, as well...

ACAMS Today Europe, May - June 2021, Regulatory Initiatives

Latvia: Avoiding FATF’s Grey List

May 20, 2021June 3, 2024 /Leave a comment

In 2017, findings by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) served as encouragement and support for Latvia to initiate the needed changes to its anti-money laundering (AML), counter-terrorist financing (CTF) and counter-proliferation financing (CPF)...

ACAMS Today Europe, May - June 2021, Regulatory Initiatives

Cryptocurrency Regulations: Finding the Right Balance

May 20, 2021June 3, 2024 /Leave a comment

There are various ideas about cryptocurrencies; some claim that they are a Ponzi scheme, a scam or a bubble, others say they are the future. What exactly are they? Cryptocurrencies are like fiat money, but they do not have a physical presence and more importantly,...

ACAMS Today Europe, May 2020 - June 2020, Regulatory Initiatives

Borderless Cryptocurrency, Borderless Regulation

June 5, 2020February 10, 2021 /Leave a comment

In 2008, the pseudonymous Satoshi Nakamoto published the bitcoin white paper describing a cryptocurrency free from the control of governments or banks.1 Twelve years later, there are over 2,000 cryptocurrencies, but Nakamoto’s libertarian vision has collided with the realities of regulation. According to Chainalysis, a...

ACAMS Today Europe, May 2020 - June 2020, Regulatory Initiatives

GDPR: Privacy vs Investigations

June 5, 2020March 6, 2023 /Leave a comment

The European Commission is required to submit a report reviewing the impact of Article 97 of the EU’s General Data Protection Regulation (GDPR) to the European Council by 25 May 2020. As a part of the review, the Commission must examine the application and function...

ACAMS Connection, ACAMS Today Europe, May 2020 - June 2020, Regulatory Initiatives

Germany Brings Gatekeepers Into AML Framework

June 5, 2020February 2, 2023 /Leave a comment

Allegations of the real estate market being used for money laundering (ML) and tax evasion have made headlines in the German media. This has resulted in heated political debates across the political spectrum, particularly, debates on the role of intermediaries. Notaries have been accused by...

March – May 2020, Regulatory Initiatives

Fintech: Expanding Regulatory Territory

March 10, 2020July 10, 2020 /Leave a comment

Author’s note: This is the second of two articles unraveling the complicated risk exposure that unregulated industries present to the regulated institutions that bank them. Fintechs are somewhat of a buzzword today with numerous types of companies in various parts of the transaction flow—many entities...

ACAMS Connection, In Focus, Regulatory Initiatives

Title Companies: Expanding Regulatory Territory

February 25, 2020February 2, 2023 /Leave a comment

This is the first of two articles unraveling the complicated risk exposure that unregulated industries present to the regulated institutions that bank them. More anti-money laundering (AML) regulations could reduce regulatory burden for financial institutions if these new regulations are applied to industries that do...

December 2019 - February 2020, Regulatory Initiatives

Under Scrutiny on the High Seas

December 19, 2019November 18, 2022 /2 Comments

The current regulatory landscape is the most complex the world has ever seen, with regulatory changes in the financial services sector occurring every seven to 12 minutes. With 80% of world trade¹ traveling by sea, it should not come as a surprise that regulators now...

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Regulatory Initiatives