Europe Compliance With AML Standards When Monitoring Crypto Low, Says Watchdog
MONEYVAL, Europe’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) watchdog, has prioritized monitoring the crypto industry, as well as “gatekeeper” professionals like attorneys and accountants, in European countries’ efforts to prevent money laundering. Watchdog Says Europe Need Better AML Laws MONEYVAL called on European countries to review conformity with international standards and develop tighter regulatory measures […]
Related News
The annual supervision report from MONEYVAL concluded that 18 of the 22 jurisdictions have an insufficient level of compliance with AML standards. Europe’s Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) watchdog, MONEYVAL, has listed monitoring the crypto sector along with “gatekeeper” professionals, such as lawyers and accountants, as priorities in European nations' push to combat money laundering.In a media release based on the findings of its annual report, MONEYVAL called upon European jurisdictions to assess compliance with international standards and....
On October 27, the Fantom Foundation announced a collaboration with the security and analysis platform Dedaub in order to bolster Fantom’s decentralized finance (defi) ecosystem. Dedaub’s monitoring system called Watchdog will monitor smart contracts on the Fantom blockchain for exploits and buggy code. Fantom Looks to Curb Defi Exploits With Watchdog Monitoring System The Fantom blockchain aims to protect its defi ecosystem with a new automated smart contract surveillance system called Watchdog, according to a blog post published on Thursday. Fantom is a layer one (L1) EVM-compatible....
According to a recent report, South Korea has taken a significant stride towards “enhancing the security and “integrity” of its cryptocurrency market. On July 4, the nation’s financial watchdog, the Financial Supervisory Service (FSS), officially announced the launch of a 24-hour monitoring system aimed at detecting and addressing dubious activities within the crypto sector in […]
The Advertising Standards Authority (ASA), the U.K. advertising watchdog, declared it would crack down on misleading ads promoting cryptocurrency investments. The organization will include cryptocurrency campaigns as a “red alert” priority in the financial marketing department. The organization will be more proactive regarding these ads, it claims, contacting companies and issuing warnings in the future. UK Advertising Watchdog to Increase Vigilance on Crypto Campaigns The U.K. advertising watchdog is not happy about how cryptocurrency campaigns are being carried in the....
The California-based company Identitymind that helps prevent fraudulent transactions is offering low-cost regulatory compliance services to bitcoin startups. Identitymind's IGNITE allows new bitcoin businesses to get up and running with compliance quickly. Neal Reiter, product manager for Identitymind, said in a statement: "Our goal is to provide start-ups the compliance help they need to focus on growing their business, not AML [anti-money laundering]". What IGNITE does. The $150 monthly fee lasts the first six months. Startups using IGNITE will get monitoring for up to 5,000 transactions....