Australia's AUSTRAC declares digital currencies a top threat in the "most ambitious overhaul of anti-money laundering laws in a generation."Read more: https://t.co/2cFz3VOMWw ...

EU's new Anti-Money Laundering Authority warns that new rules will ban anonymous wallets & privacy coins, require govt access to account data by July 2027.Read more: https://t.co/SJ3Ol4YZ5i ...

EU Anti-Money Laundering Authority Warns Crypto Firms of New Regulations► https://t.co/VIPgpdqabD https://t.co/VIPgpdqabD ...

The United Kingdom’s Financial Conduct Authority fined Barclays 42 million pounds (about $56 million) for financial crime control lapses.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.The fine covers two cases tha ...

RT Sander Lutz (@s_lutz95)🚨NEW: This morning, the Senate Banking Committee will hold a hearing on crypto market structure legislation. I’m hearing Elizabeth Warren, top Dem on the committee, will announce she would support a bill if it meets these 5 criteria:“1. Protecting our bedrock securities laws;2. Providing basic investor protections;3. Preserving our financial stability;4. Requiring crypto actors to implement commonsense anti-money laundering and sanctions enforcement programs; and5. Stopping public ...

Core Insights - Gadens, a leading Australian law firm, has selected Intapp's compliance solutions to enhance its compliance with new anti-money laundering (AML) and counter-terrorism financing (CTF) regulations in Australia [1][4]. Group 1: Modernization of Business Processes - Gadens is modernizing its business intake and conflict management processes in response to new AML and CTF regulations [2]. - The firm aims to use Intapp's consolidated tool to improve its new business intake and onboarding processes, enhancing data integrity and reducing risk exposure [2][3]. Group 2: Compliance and Risk Management - The new AML legislative reforms will necessitate improved client onboarding processes, including comprehensive information gathering and verification methods [3]. - Intapp's solutions will assist Gadens in achieving compliance with the AML and CTF framework, which involves complex information gathering, monitoring, reporting, and recordkeeping [4][6]. Group 3: Technology and Data Management - Intapp's compliance solutions enable secure collection of sensitive information that integrates into the firm's review processes, verifying client identities through proprietary and third-party data [5]. - The software continuously monitors active clients for evolving risk factors, alerting risk professionals to potential issues and centralizing records for easy access [6]. Group 4: Strategic Impact - The partnership with Intapp is expected to transform Gadens' risk and governance framework, positioning the firm for long-term growth and operational excellence while simplifying AML and CTF compliance processes [7].

UAB Urbo Bankas („Bank“), company code 112027077, address: Konstitucijos pr.18B, Vilnius. The Bank of Lithuania (BL) conducted a targeted scheduled inspection to assess the Bank’s compliance with anti-money laundering and counter-terrorist financing (AML/CTF) prevention requirements. The inspection revealed violations and deficiencies. The Bank acknowledged the identified violations, submitted a remediation plan, and committed to addressing all legal violations and operational shortcomings identified during ...

Core Insights - AML Go (Pty) Ltd, a subsidiary of UPAY Inc., presented at the MicroFinance South Africa (MFSA) Virtual Workshop on FICA Compliance, highlighting its role in AML compliance solutions [1][5] - The workshop attracted over 380 delegates, including compliance officers and representatives from the Financial Intelligence Centre, focusing on practical insights for the credit and microfinance sector [2][3] AML Go's Contributions - AML Go demonstrated its intelligent compliance engine, showcasing how it simplifies regulatory processes for accountable institutions in the microfinance sector [4] - The company emphasizes the importance of technology-enabled compliance tools to meet regulatory standards effectively [3][5] Industry Context - The workshop addressed key areas of the Financial Intelligence Centre Act (FICA), including Risk Management and Compliance Programs, Customer Due Diligence, and employee screening procedures [8] - There is a growing need for automated solutions that can perform client screening, risk profiling, and generate audit-friendly reports [9]