Virtual currency kiosks, often referred to as cryptocurrency ATM’s, have become a convenient means for consumers to buy and sell cryptocurrencies like Bitcoin, Ethereum, and other mainstream crypto-coins. The development of these outlets have spurred greater investment into the crypto market during the current bull-run, helping to bridge the gap between virtual currencies and real-world […]
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Last week, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a major shake-up in the implementation of a long-awaited and groundbreaking piece of AML legislation. On July 21st, FinCEN announced a significant delay for the application of its final anti-money laundering (AML) rule for investment advisers, pushing the effective date of implementation from […]
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The global cryptocurrency sector is undergoing significant regulatory and market shifts as 2025 unfolds, with the European Union (EU) and the United States (US) adopting divergent approaches to the management of decentralized currency over the past several months. As Bitcoin appears to be in the midst of another major cyclical run-up, several less-heralded ‘altcoins’ are […]
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Last week, Singapore’s central bank, the Monetary Authority of Singapore (MAS), imposed collective fines totaling a whopping S$27.45 million ($21.5 million USD) against a total of nine financial institutions, a list including notable names such as UBS, Citibank, and Julius Baer Group, in connection with a major money laundering scandal that rocked the city-state in […]
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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has recently announced two significant sets of sanctions targeting illicit financial networks tied to Iran and its ally in Lebanese militant group Hizballah, reinforcing the U.S. government’s commitment to curbing destabilizing activities in the Middle East. These actions, taken during a ceasefire in […]
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On June 25, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) – the bureau responsible for collecting and analyzing financial information to combat money laundering, terrorism financing, and other financial crimes both domestically and abroad – issued unprecedented orders targeting three Mexico-based financial institutions for their alleged roles in laundering money […]
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As the golden age of technological development continues to unfold and artificial intelligence (AI) continues to achieve mainstream utilization by businesses and individuals alike, the growth of AI-backed protocols has already contributed to significant improvements in workflow and operational efficiency across the financial realm. With AI now being used by financial institutions to better meet […]
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As the global crusade on financial crime continues worldwide, several significant developments in anti-money laundering (AML) and counter terrorism financing (CFT) took place domestically last week, underscoring enforcement efforts taken by the U.S. government as part of its intensified focus on sanctions compliance and illicit financial activities, particularly involving foreign entities seeking to exploit vulnerabilities […]
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As part of the United States growing efforts to crack down on corporate crime and other white-collar criminal exploits, the U.S. Justice Department (DOJ) recently announced the creation
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The American financial sector was shaken in the month of March following a series of major banking failures that led to the demise of several notable financial institutions, leaving many
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