U.S. Treasury’s FinCEN Issues $60 Million Penalty Against Operator of Bitcoin ‘Mixers’. The Wall Street Journal, Oct 19, 2020
For the first time, FinCEN imposed a civil penalty against virtual currency mixers and tumblers.
Cryptocurrency tumbler or cryptocurrency mixing offers the mixing of potentially identifiable or ‘tainted’ cryptocurrency funds with others, thus obscuring the identity of the original source.
This method of transactions often used in payments for drugs, child exploitation, fraudulent activities, money laundering, and terror financing.
FinCEN determined that the subject has failed to implement and maintain an effective anti-money laundering (AML) program.
Two-day Conference on Anti-Money Laundering & Financial Crimes.
Regulation & requirements for 2021, experience learned from enforcement and case studies; listen to industry perspectives on the latest developments in AML and financial crime, such as – regulatory reform efforts, fraud trends and operational challenges related to COVID-19, human trafficking typologies, and sanctions developments.
The pandemic has intensified some of the world’s most challenging issues – poverty, inequality and exclusion to name but a few. Digital infrastructure and technology are providing the platform to transform access to financial services for historically excluded populations and create better, fairer and more inclusive outcomes, and institutional opportunities for efficiency, growth and diversity.
Hack to the Future 2020 is focused on creating a brighter future that supports every person, business and community, through technology.
The Fourth annual RegTech100 list announced to recognize the tech companies transforming compliance, risk management and cybersecurity
The REGTECH100 is an annual list of 100 of the world’s most innovative RegTech companies selected by a panel of industry experts and analysts. These are the companies every financial institution needs to know about as they consider and develop their mission critical RegTech and digital transformation strategies. The list has been updated for 2021 to recognize the next-generation of solution providers shaping the future of the compliance, risk management and cybersecurity industries. The list aims to help senior management and compliance professionals evaluate which solutions have market potential and are most likely to succeed and have a lasting impact on the industry.